金融混业集团主导下的银行资本监管与风险实证分析

An Empirical Analysis on Regulating Capital and Risk Fluctuation Based on the Financial Holding Companies of Mixed Operation Mode

随着我国金融控股公司的发展,根据新巴塞尔协议的要求及近年世界各国金融监管的实践对金融控股公司进行资本监管已经成为金融监管的核心。本文利用面板数据并建立资本监管与风险变化的多元回归模型检验了资本监管与风险变化的影响。研究发现,我国混业经营的金融控股公司的发展对我国金融业的资本要求影响较大,而对金融业风险影响不显著。同时研究发现,规模小的金融公司比大的金融公司容易控制风险。研究的结果支持在我国大力发展规模适度的混业经营的金融控股公司和中小金融机构的主张。本文的研究在丰富金融监管理论文献的同时,也为指导我国金融业今后的发展提出了重要的经验证据。

As the financial holding companies grow in china, regulating capital in financial holding companies according to the new Basel Accord requirements and the world＇ s financial regulatory practice in recent years have become the core financial regulation. In this paper, we use panel data and develop the multiple regression modes of capital requirement and risk change to test the effect of capital requirement on risk change. Research indicated that the financial holding company of the mixed operation mode has greater impact on capital requirement, and the financial industry risk is not significant. Research also found that small -scale financial firms are easier to control financial risks than large compa- nies. The results strongly support the proposition of developing our modest size of the mixed operation of financial hold- ing companies and small and medium - sized financial institutions. This study adds the extent literature on financial supervision, and at the same time, its important empirical evidence is helpful for guiding the future development of Chinese financial industry.