摘要
以中国A股上市银行为样本,研究从"重资产"到"轻资产"经营模式转型是否影响了银行风险。研究发现:在风险承担水平较高的"重资产"模式与风险承担水平较低的"轻资产"模式下,银行均可实现高收益;银行收益与风险承担之间呈开口向上的抛物线关系,存在收益最小化的"极值点"。根据"极值点"区分了"重资产"银行和"轻资产"银行,进一步研究发现:从"重资产"向"轻资产"转型,既有提升银行声誉的积极作用;又存在加剧银行的信贷风险、流动性风险和系统性风险的消极影响。建议银行加速向"轻资产"模式转型,并做好"轻资产"银行的系统性风险防控。
Using the quarterly data of Chinese A-share listed banks from 2006 to 2017,this study investigated whether bank risks were affected by transformation from asset-heavy to asset-light strategy.The results revealed the following:1)banks could earn high yields regardless of whether they implemented the asset-heavy strategy with a high level of risk taking or the asset-light strategy with a low level of risk taking;2)there was a parabolic relationship with an upward opening between bank yields and risk-taking,and there was an extreme point at which bank yields were minimized.The extreme point distinguished asset-heavy banks from asset-light banks.Further investigation revealed that the transformation from the asset-heavy to the assetlight strategy had both positive(e.g.,improving bank reputations)and negative effects(e.g.,aggravating banks'credit risk,liquidity risk,and systematic risk).Therefore,banks should accelerate transformation to an asset-light strategy and prevent and mitigate the systematic risk arising from an asset-light strategy.
作者
王龑
郭子增
Wang Yan;Guo Zizeng(Postdoctoral workstation of Bank of Dalian,and postdoctoral research station of Dalian University of Technology,Dalian,Liaoning 116025,China;School of Finance,Dongbei University of Finance&Economics,Dalian,Liaoning 116025,China)
出处
《金融经济学研究》
CSSCI
北大核心
2019年第5期80-92,共13页
Financial Economics Research
关键词
重资产
轻资产
经营模式转型
银行风险承担
asset-heavy
asset-light
business model transformation
bank risk-taking
