资本监管约束对商业银行融资效率的影响

The Influence of Capital Regulatory Constraints on the Financing Efficiency of Commercial Banks

本文利用86家中国商业银行2002~2012年间的数据样本,研究监管约束对中国商业银行融资效率的影响。研究发现,中国商业银行所受到的资本监管约束与商业银行的融资效率呈负相关关系;提高地区的市场化程度可以减轻监管约束对商业银行融资效率的负效应。因此,在经济增长放缓时期,金融监管部门可以考虑放松银行业资本充足率的要求以提高其融资效率。地区市场化的发展使政企分开政策得以充分施行,使地方政府更少干预地方的企业经营与借贷决策,以及地方银行的投融资决策。

Based on the data of Chinese 86 commercial banks during 2002-2012,this paper analyzes the influence of regulatory constraints on the financing efficiency of Chinese commercial banks.It's found that the regulatory constraints on the capitals of Chinese commercial banks are negatively correlated with the financing efficiency of commercial banks;the increase in regional market liberalization will reduce the negative effects of regulatory constraints on the financing efficiency of commercial banks.Therefore,financial regulators may consider to reduce the capital adequacy ratio of banking sector to improve its financing efficiency; regional market-oriented development makes the policy that separates government administration and enterprise management be fully implemented,and the less local government intervention in the operation and lending decisions of local enterprises,as well as the investment and financing decisions of local banks.