银行内部控制与信贷风险定价能力——基于宏观经济政策变化视角的实证研究

Internal Control and Credit Risk Pricing Capability of Banks:An Empirical Study Based on the Perspective of Macroeconomic Policy Changes

区别于已有研究,文章将宏观经济政策和微观内部控制融于一个分析框架,利用2007-2018年沪深两市A股上市公司与上市银行之间的单笔贷款数据,从利率市场化改革和供给侧结构性改革两个视角实证检验了宏观经济政策变化对银行内部控制与信贷风险定价能力关系的影响,研究发现:利率市场化改革和供给侧结构性改革均起到了促进银行内部控制对借款企业风险定价能力的提升作用。其中,利率市场化改革的促进作用主要表现在贷款利率和贷款期限两个方面;供给侧结构性改革的促进作用主要表现在贷款利率和贷款担保两个方面。文章的研究更加全面地揭示了银行内部控制影响信贷风险的作用机理,为信贷风险的综合治理提供了更加有力的经验证据。

Differing from existing studies,the article integrates macroeconomic policies and micro internal controls into one analytical framework,and uses single loan data between A-share listed companies and listed banks in Shanghai and Shenzhen from 2007-2018 to empirically test the impact of macroeconomic policy changes on the relationship between banks’internal controls and credit risk pricing ability from two perspectives:Interest Rate Liberalization Reform and Supplyside Structural Reform.The study finds that both Interest Rate Liberalization Reform and Supply-side Structural Reform contribute to the improvement of banks’internal control over the risk pricing ability of borrowing firms.Among them,the Interest Rate Liberalization Reform is mainly in the areas of loan interest rate and loan maturity;the Supply-side Structural Reform is mainly in the areas of loan interest rate and loan guarantee.The research in the article reveals more comprehensively the mechanism of the role of bank internal control in influencing credit risk,and provides stronger empirical evidence for the comprehensive management of credit risk.