突发公共事件、金融科技发展与银行风险承担

Public Emergencies,Fintech Development, and Bank Risk-Taking

突发公共事件不仅会干扰经济运行,还会威胁金融稳定。本文系统推演了突发公共事件影响银行风险承担的理论机制,并探究了金融科技发展对突发公共事件冲击的缓解效应。随后,采用双重差分模型与多重中介效应模型进行实证检验。研究结果显示,突发公共事件显著影响银行风险承担水平。机制分析表明,突发公共事件会造成银行投资收益率下降、业务规模缩减及存贷息差收窄,由此要求银行具备更高的风险承担水平。进一步研究发现,金融科技发展有助于减弱突发公共事件对银行风险承担的负面冲击。本文研究结论为通过金融科技发展来应对突发公共事件、维护金融体系稳健提供了有益启示。

Public emergencies will not only interfere with economic development but also threaten financial stability.This paper investigates the impact mechanism of public emergencies on banks'risk-taking and explores whether the fintech development can help commercial banks cope with public emergencies.This paper then makes empirical tests with difference-in-differences models and multiple mediator models.The findings of the paper are as follows.First,public emergencies have significantly increased banks'risk-taking.Second,public emergencies mainly increase banks'risk-taking through three channels:reducing banks'investment income,lowering banks'business scale,and narrowing banks’net interest margin.Third,the fintech development can reduce the negative impact of public emergencies on banks'risk-taking.The conclusions of this paper provide useful enlightenment for using fintech to deal with public emergencies and maintain the stability of the financial system.