非标债权业务与银行债务风险

Non-standard Debt Business and Bank’s Debt Risk

本文基于2007-2018年我国商业银行面板数据,建立面板数据模型,实证研究了非标债权资产对银行债务风险影响。研究表明:自有资金或第三方理财导致非标债权资产占比上升会显著提升银行债务风险。导致结果的原因不是信息不透明,而是因为资源禀赋。禀赋较差的地方性银行通过非标债权业务实现金融资源的跨区对接,此举显著提高了它的债务风险。为解决内生性问题,本文分别采用银行所在地区、类型相同等其他银行非标债权资产占比平均值为工具变量的2SLS,进一步证实了上述观点。本文研究结论有助于建立更加公平的银行竞争市场。

The rapid development of non-standard debt business has aroused great concern in the practical field,but it has not yet attracted much attention in the theoretical field.Based on the annual data of 2007-2018 year commercial banks,this paper first focuses on the impact of the non-standard debt business on commercial banks debt risk.The empirical results show that:banks engaged in non-standard debt business will significantly enhance their debt risk,which leads to the increase of bank debt risk not because of information opacity,but because of its own endowment factors.Local banks with poor endowments integrate financial resources through non-standard debt business,which significantly increases the debt risk of banks.In order to solve the endogenous problem of non-standard debt business,this paper uses the two-stage least square method with the average ratio of non-standard debt assets of different regions and types of banks as the instrumental variable to further confirm the above viewpoint.The conclusion of this paper is helpful to establish a fairer credit market.