摘要
基于2008—2020年中国174家商业银行样本数据,采用多时点双重差分模型实证检验绿色信贷影响商业银行风险承担的机理、效应与特征,研究发现,商业银行积极开展绿色信贷业务会显著降低其风险承担水平,在规模较大、资本充足率较高、市场势力较强、业务经营范围较广的银行中影响更为显著;作用机制检验结果显示,绿色信贷降低商业银行的风险承担水平,是通过提升商业银行盈利水平、改变商业银行盈利结构的“盈利”渠道,以及通过提高总体违约风险和资产风险承担能力的“风险”渠道达到的。进一步分析表明,地区绿色发展水平越高,商业银行开展绿色信贷业务相应的风险承担水平越低。商业银行积极开展绿色信贷业务,提高绿色信贷占比,对于降低其风险承担水平是一个同时颇具宏观与微观价值的政策选择。
Based on the sample data of 174 commercial banks in China from 2008 to 2020,this study empirically tested the characteristics of green credit among commercial banks and the effect of green credit on risk-taking among commercial banks and its mechanism using a multi-temporal difference-in-differences model.The findings of this study revealed that active engagement in the green credit business by commercial banks significantly reduces their risk-taking level,with this effect being more significant among commercial banks of a larger size,with a higher capital adequacy ratio,stronger market power,and broader scope of business operations.The results of the mechanism test showed that green credit reduced the risk-taking level of commercial banks through the“profit”channel,which increased the profitability of commercial banks and changed their profit structure,and the“risk”channel,which increased their overall ability to assume risks from assets with default risk.Furthermore,the analysis suggests that the higher the level of regional green development,the lower the corresponding risk-taking level of commercial banks when engaging in the green credit business.Active engagement in the green credit business by commercial banks to increase the proportion of green credit is a policy option of significance at the macro and micro levels for reducing their risk-taking level.
作者
王宏涛
曹文成
王一鸣
Wang Hongtao;Cao Wencheng;Wang Yiming(College of Economics and Management,Xi’an University of Posts&Telecommunications,Xi'an 710061,Shaanxi,China;School of Economics,Peking University,Beijing 100871,China)
出处
《金融经济学研究》
CSSCI
北大核心
2022年第4期143-160,共18页
Financial Economics Research
基金
国家社会科学基金项目(16XJY020)
陕西省自然科学基金面上项目(2022JM-413)
西安邮电大学研究生创新基金项目(CXJJWY2020014)。
