金融产品创新对中国商业银行风险影响的实证研究
发布时间：2018-08-20 07:30
【摘要】：自二十一世纪以来，金融产品创新的浪潮席卷着整个国内银行业，各商业银行争相从传统的存贷款业务模式转变为资产、负债和中间业务三足鼎立的业务模式，并踊跃推出新型创新产品以提升自身的市场竞争力。 金融创新具有两面性，，它既有风险防范功能，同时也会创造出新的潜在风险。即便多数银行内部已建成较庞大且复杂的风险管控体系，但产品创新带来的新风险就如同新型网络病毒，需要更高技术含量、更新型的杀毒软件方能控制。引进国外金融创新的背后是否也学会了风险的定价和管控技术？产品创新伴随而来的潜在风险与它初衷要规避的风险之间，谁起着决定性的作用？我国商业银行金融产品创新与银行风险之间有何种关系？到目前为止这些都尚未为人知晓。 在理论部分，本论文从实际情况出发，在现有理论基础上界定了金融产品创新的概念和范围，同时，借助CAPM模型中的贝塔系数衡量银行投资风险，作为银行整体风险的替代变量。继而，本论文基于委托代理、风险中介等理论基础，深入分析了银行产品创新中风险再创造的原因，并提出了本文的核心假设：我国商业银行的金融产品创新加大了银行的整体风险。 在实证部分，本文分别选用“中间类业务产品创新度”和“金融产品创新度”作为衡量银行金融产品创新水平的指标，利用面板模型回归分析，结果一致地证实了理论部分所提出的假设：商业银行的金融产品创新水平与银行的整体风险之间存在显著的正向相关性。在此基础上，提出本文观点：国内商业银行的产品创新发展仍处于初级阶段，创新过程中的风险定价和风险管控能力不足。 在结论部分，本论文针对国内商业银行和银监会提出一些微薄的建议：应充分重视隐藏在金融创新背后的潜在风险问题，在学习国外产品创新技术的同时要重点提升创新过程风险管控的能力，避免创新热潮带给银行过多不稳定因素。
[Abstract]:Since the 21 century, the wave of financial product innovation has swept the entire domestic banking industry, and commercial banks have changed from the traditional deposit and loan business model to a three-pronged business model of assets, liabilities and intermediate business. And actively launched new innovative products to enhance their own market competitiveness. Financial innovation has two sides, it not only has risk prevention function, but also creates new potential risk. Even if most banks have larger and more complex risk management systems in place, the new risks from product innovation are like new web viruses, requiring more technology and newer antivirus software to control. Is the introduction of foreign financial innovation behind the learning of risk pricing and control technology? Who plays a decisive role between the potential risks associated with product innovation and the risks it intended to avoid? What is the relationship between financial product innovation and bank risk in China's commercial banks? So far none of this has been known. In the theoretical part, this paper defines the concept and scope of financial product innovation on the basis of existing theories, and measures the risk of bank investment by using Beta coefficient in CAPM model. As an alternative variable of the bank's overall risk. Then, based on the theory of principal-agent and risk intermediation, this paper deeply analyzes the reasons of risk re-creation in the innovation of bank products. At the same time, the paper puts forward the core hypothesis: the innovation of financial products of Chinese commercial banks increases the overall risk of banks. In the empirical part, we choose the "innovation degree of intermediate business products" and "innovation degree of financial products" as indicators to measure the innovation level of bank financial products, and use panel model regression analysis. The results are consistent with the hypothesis proposed in the theoretical part: there is a significant positive correlation between the level of financial product innovation of commercial banks and the overall risk of banks. On this basis, this paper points out that the product innovation development of domestic commercial banks is still in the primary stage, and the risk pricing and risk control ability in the process of innovation is insufficient. In the conclusion part, this paper puts forward some modest suggestions for domestic commercial banks and CBRC: we should pay more attention to the potential risks hidden behind financial innovation. While learning foreign product innovation technology, we should focus on enhancing the ability of risk management in innovation process to avoid excessive instability factors brought by innovation boom.
【学位授予单位】：华中科技大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.33
本文编号：2192875
[Abstract]:Since the 21 century, the wave of financial product innovation has swept the entire domestic banking industry, and commercial banks have changed from the traditional deposit and loan business model to a three-pronged business model of assets, liabilities and intermediate business. And actively launched new innovative products to enhance their own market competitiveness. Financial innovation has two sides, it not only has risk prevention function, but also creates new potential risk. Even if most banks have larger and more complex risk management systems in place, the new risks from product innovation are like new web viruses, requiring more technology and newer antivirus software to control. Is the introduction of foreign financial innovation behind the learning of risk pricing and control technology? Who plays a decisive role between the potential risks associated with product innovation and the risks it intended to avoid? What is the relationship between financial product innovation and bank risk in China's commercial banks? So far none of this has been known. In the theoretical part, this paper defines the concept and scope of financial product innovation on the basis of existing theories, and measures the risk of bank investment by using Beta coefficient in CAPM model. As an alternative variable of the bank's overall risk. Then, based on the theory of principal-agent and risk intermediation, this paper deeply analyzes the reasons of risk re-creation in the innovation of bank products. At the same time, the paper puts forward the core hypothesis: the innovation of financial products of Chinese commercial banks increases the overall risk of banks. In the empirical part, we choose the "innovation degree of intermediate business products" and "innovation degree of financial products" as indicators to measure the innovation level of bank financial products, and use panel model regression analysis. The results are consistent with the hypothesis proposed in the theoretical part: there is a significant positive correlation between the level of financial product innovation of commercial banks and the overall risk of banks. On this basis, this paper points out that the product innovation development of domestic commercial banks is still in the primary stage, and the risk pricing and risk control ability in the process of innovation is insufficient. In the conclusion part, this paper puts forward some modest suggestions for domestic commercial banks and CBRC: we should pay more attention to the potential risks hidden behind financial innovation. While learning foreign product innovation technology, we should focus on enhancing the ability of risk management in innovation process to avoid excessive instability factors brought by innovation boom.
【学位授予单位】：华中科技大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.33
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