不同类型商业银行社会责任、声誉溢出与市场效应——基于我国商业银行执行赤道原则事件的分析

Social Responsibility,Reputation Spillover and Market Effect of Different Types of Commercial Banks:Based on Analysis of China Commercial Banks’Implementation of Equator Principle

为更好研究我国资本市场与商业银行社会责任之间的关系,以商业银行执行赤道原则事件为例,探讨我国资本市场对全国股份制商业银行、城市商业银行、农村商业银行三种不同类型商业银行承担社会责任的反应。研究结果显示,我国资本市场对不同类型商业银行承担社会责任事件反应不一,总体呈现正向反应;商业银行会受到同类银行社会责任的影响产生声誉溢出效应,这种影响可能是传染效应也可能是对比效应。政府应加强对企业承担社会责任的引导,完善相关政策、设施的配套,商业银行应做好长期规划和应对策略,平衡好承担社会责任的长短期成本与收益。

In order to better study the market response of China capital market to commercial banks’social responsibility,this study,with China commercial banks’implementation of Equator Principle as an example,discusses the response of China market to the social responsibility assumption of national joint-stock commercial banks,urban commercial banks and rural commercial banks.The results show that China capital market has different responses to the social responsibility assumption events by different types of commercial banks,showing an overall positive response;and that commercial banks may be affected by the social responsibility of similar banks and generate reputation spillover effect,and such an effect may be contagion effect or contrast effect.The government should strengthen the guidance of enterprises’undertaking social responsibility,perfect the relevant policies and facilities while commercial banks should make long-term planning and coping strategies and balance the long-term and short-term costs and income of social responsibility assumption.