金融强监管、非息收入创新与商业银行风险承担  

Strong Financial Regulation,Non-Interest Income Innovation,and Risk-Taking in Commercial Banks

作　　者：李志远 黄燕芬 李开贞[5] LI Zhiyuan;HUANG Yanfen;LI Kaizhen

机构地区：[1]中国邮政储蓄银行博士后科研工作站 [2]中国人民大学博士后科研流动站 [3]中国人民大学欧洲问题研究中心 [4]中国人民大学公共管理学院 [5]中国邮政储蓄银行

出　　处：《价格理论与实践》2024年第6期196-201,227,共7页Price:Theory & Practice

基　　金：教育部人文社会科学重点研究基地重大项目“欧盟数字化转型战略与中欧合作”(22JJD630020)

摘　　要：加强金融监管,防范化解金融风险是当前我国金融工作的重点之一。本文基于“2018资管新规”这一金融强监管政策为准自然实验,以2013-2022年中国104家商业银行的年度数据为样本,通过双重差分模型实证分析金融强监管对商业银行风险承担的影响,以及商业银行创新在这一过程中的作用机制。研究发现,金融强监管政策实施之后,商业银行的风险承担显著降低。中介机制检验表明,金融强监管政策实施促进商业银行创新,商业银行创新通过发展非利息收入业务以及增加异质型人力资本的投入,有效地降低商业银行的风险承担。异质型检验表明,金融强监管政策实施有效地降低未上市商业银行以及影子银行发展水平较低地区的商业银行风险承担。因此,商业银行应该持续推进“轻资本”转型发展,加大创新人才的投入力度,同时合理平衡金融创新与风险承担之间的关系。Strengthening financial regulation and preventing and resolving financial risks are among the key priorities of China’s current financial work.This paper uses the“2018 Asset Management New Regulation”,a strong financial regulatory policy,as a quasi-natural experiment.Based on annual data from 104 Chinese commercial banks from 2013 to 2022,the study employs a differen ce-in-differences(DID)model to empirically analyze the impact of strong financial regulation on the risk-taking of commercial banks,as well as the role of commercial bank innovation in this process.The research finds that after the implementation of stron g financial regulation,the risk-taking of commercial banks significantly decreased.Mediation mechanism tests show that the implementation of strong financial regulation promotes innovation in commercial banks,which effectively reduces risk-taking by developing non-interest income businesses and increasing investment in heterogeneous human capital.Heterogeneity tests indicate that the implementation of strong financial regulation effectively reduces risk-taking in non-listed commercial banks and those in regions with lower levels of shadow banking development.Therefore,commercial banks should continue to promote the transformation and development of“light capital”,increase investment in innovative talent,and reasonably balance the relationship between financial innovation and risk-taking.

关 键 词：金融强监管政策 商业银行创新 银行风险承担 双重差分 

分 类 号：F832[经济管理—金融学]