创新影响了银行风险承担吗?——基于中国上市银行的实证检验

Research on the Impact of Innovation on Bank Risk-Taking--An Empirical Test of China’s Listed Banks

本文将银行内部创新因素和外部创新环境引入银行风险承担研究框架,从理论和实证两个方面分析创新对银行风险承担的影响。研究结果发现,创新与银行风险承担之间呈现"U型"的关系,适度创新能够弱化银行风险承担,过度创新会加剧银行风险承担。进一步研究发现,内部创新对非五大行具有当期和滞后的双重影响,而对五大行仅具有当期效应。外部创新对五大行具有当期和滞后的双重影响,而对非五大行的当期影响不显著。企业还款能力、银行贷款质量和创新资产规模是创新影响银行风险承担的重要中介机制。此外,五大行对创新的敏感性小于非五大行,五大行可接受的创新区间大于非五大行。

Innovation is an important factor that affects bank risk-taking. To analyze the impact of innovation on bank risk-taking, we should not only discuss the internal innovation factors of banks, but also fully consider the external innovation environment.This paper introduces the internal innovation factors and external innovation environment into the research framework of bank risk-taking. The paper analyzes the impact of innovation on bank risk-taking from both theoretical and empirical aspects.The results show that innovation brings" U-shaped" impact on bank risk-taking through intermediary channels such as enterprise repayment ability, bank innovation asset scale and loan quality. This impact is not only reflected in the current period but also has time lagging effect. In addition, the sensitivity of the five major banks to innovation is less than that of the non-state owned five major banks;The acceptable innovation range of the five major banks is greater than that of the non-state owned five major banks.This paper contributions to the literature in several ways. First, it introduces internal and external innovation in the banking industry and analyze its impact on bank risk-taking;Second, it builds the evaluation system of the internal innovation level of banks, and comprehensively considers the internal innovation level of banks;Finally, from the perspective of heterogeneity, this paper analyzes the sensitivity of bank risk-taking to innovation and the acceptable innovation range of banks. It further tests the intermediary mechanism of innovation affecting bank risk-taking.