不良资产对商业银行稳定性的影响--基于中国大型商业银行面板数据的研究

The Impact of Non-performing Assets on the Stability of Commercial Banks:Based on the Research of Panel Data of China's Large Commercial Banks

文章基于中国全国性大型商业银行2003-2017年的面板数据,实证研究了不良资产对商业银行稳定性水平的影响效应,并对其中间路径进行了理论机制检验,结果显示:商业银行在市场化经营过程中产生的不良资产显著降低了商业银行的稳定性水平;进一步的机制分析发现,市场化形成的不良资产对商业银行的资产收益率具有负向影响效应;不良资产通过渐次侵蚀商业银行的附属资本和核心资本,显著降低了银行的资本充足率,推升了银行的杠杆水平;相比于资产收益率,不良资产对资本充足率的影响更为显著。研究结果表明,降低商业银行的杠杆率水平是提升银行稳定性的有效措施。

Based on the panel data of China's national large commercial banks from 2003 to 2017,this paper empirically studies the effects of the non-performing assets on the stability level of commercial banks.And we theoretically and empirically analyses the middle path of the impact of non-performing assets on the stability of commercial banks.The results show:The non-performing assets produced by commercial banks in the course of market operation significantly reduce the stability level of commercial banks;Further institutional analysis found that the non-performing assets formed by the market have negative effects on the return on assets of commercial banks;By gradually eroding the subsidiary capital and core capital of commercial banks,the non-performing assets significantly reduced the bank's capital adequacy ratio and promoted the lever level of the bank;Non-performing assets have a more significant effect on capital adequacy ratio than asset returns.The results of this study indicate that reducing the leverage level of commercial banks is an effective measure to improve the stability of banks.