摘要
本文以2011-2020年中国59家上市银行年度数据为样本,实证检验了中国利率市场化对商业银行盈余持续性的影响。结果表明,利率市场化通过加剧商业银行信贷市场竞争进而导致其盈余持续性下降,信贷市场竞争在其中发挥部分中介作用。异质性分析结果显示,这一负向效应在存款成本较高和中间业务发展程度较低的银行中更加显著;在全国性银行和区域性银行之间,这种负向效应并不存在明显差异。
Taking the annual data of 59 listed banks in China during 2011-2020 as research sample,this paper empiri-cally tests the impact of China's interest rate liberalization on commercial banks'earnings persistence.It is found that interest rate liberalization intensifies the competition in the credit market of commercial banks,leading to a decrease in their earnings persistence.Credit market competition plays a partial intermediary role in this process.The heterogeneity analysis results show that this negative effect is more significant in banks with higher deposit costs and lower intermediate business development levels,and there is no significant difference in this negative effect between national and regional banks.
作者
陈坤
黄婉
王攀娜
贺康
CHEN Kun;HUANG Wan;WANG Pan-na;HE Kang
出处
《金融论坛》
北大核心
2023年第9期36-46,共11页
Finance Forum
基金
中国博士后科学基金第72批面上项目“内部人交易与非财务信息披露操纵研究:基于客户信息的视角”(2022M722240)
重庆市教委人文社科重大项目“思政导航+技术赋能财经人才培养全链条融合模式研究”(22SKGH297)
重庆理工大学国家社科基金培育项目“绿色金融推动长江上游经济带实现双碳目标的机制与路径研究”(2022)
汕头大学科研启动经费项目“数字化转型对企业去杠杆的影响研究”(STF22007)的资助。
关键词
利率市场化
信贷市场竞争
盈余持续性
银行异质性
interest rate liberalization
credit market competition
earning persistence
bank heterogeneity
