摘要
将银行金融创新分为降低项目监督成本和提高投资回报率两种类型,利用银行在融资市场的博弈均衡模型并结合数值模拟技术,研究两种类型金融创新对银行风险承担的影响。研究结果显示:相对于提高投资回报率的金融创新,降低项目监督成本的金融创新对银行风险承担影响更大,且当投资项目收益率较低时,降低监督成本的金融创新更有利于提高银行资金的使用效率,降低银行风险承担水平。实证结果支持理论模型的结论。
This essay first divides banks’ financial innovation into two types of reducing project monitoring cost and raisinginvestment return rate. It then uses the methodology of Gambling Equilibrium in the circumstance of Whole scale FundingM arket, in combination with the methodology of Numerical Simulation, to explore the effect of these two types of financial innovationon bank risk-taking. The results show that compared with the financial innovation of raising investment return rate,the financial innovation of reducing project monitoring cost is more effective in reducing Bank risk-taking, Moreover, with lowerproject revenues, the financial innovation of reducing project monitoring cost can effectively reduce bank risk-taking. Theconclusion from the theoretical model is also supported by panel data study.
出处
《财经论丛》
CSSCI
北大核心
2016年第9期35-45,共11页
Collected Essays on Finance and Economics
基金
国家社会科学基金重点资助项目(14AZD033)
关键词
金融创新
商业银行风险承担
博弈均衡
面板数据
financial innovation
commercial bank risk-taking
game equilibrium
panel data
