宏观审慎政策、市场竞争与银行经营绩效

Macroprudential Policy,Market Competition,and Banks'Performance

本文以中国78家商业银行为研究样本,实证检验宏观审慎政策对银行经营绩效的影响,并研究市场竞争的调节作用。研究表明:宏观审慎政策有助于改善银行经营绩效,其中,宏观审慎政策的实施会提高银行单位资产盈利能力,降低成本收入比。相比区域性商业银行,加强宏观审慎政策可以更大程度地改善全国性商业银行的经营绩效。中介效应检验发现,面对收紧的宏观审慎政策,银行可以通过约束风险承担行为的方式改善经营绩效。此外,市场竞争对宏观审慎政策与银行经营绩效的关系具有调节效应,市场竞争会强化宏观审慎政策对银行经营绩效的积极影响。

This paper empirically examines the relationship between macroprudential policies and banks'performance,as well as the moderating effect of market competition for 78 Chinese commercial banks.Empirical results show that macro-prudential policies improve banks'performance.The implementation of macroprudential policies can improve banks'profit-ability of unit assets and reduce banks'cost-income ratio.Compared with regional commercial banks,strengthening macro-prudential policies has greater positive effects on the performance of national commercial banks.The mediation effect tests show that,banks improve their performance by reducing risk-taking behavior in response to tighter macroprudential policies.Moreover,market competition has a moderating effect on the relationship between macroprudential policies and bank performance.Intense market competition strengthens the effect of macroprudential policies on improving banks'assets profitability.