宏观调控、所有权结构与商业银行信贷扩张行为

发布时间：2018-05-06 06:32

本文选题：信贷扩张 + 所有权结构　；参考：《国际金融研究》2012年03期

【摘要】：本文结合公司金融和商业银行相关理论,厘清了股权结构对商业银行信贷扩张的作用机理,重点分析政府宏观调控政策目标和意图如何通过股权结构作用于信贷行为。选用21家银行2003-2010年间的面板数据,估计得出中央政府控制、民营化程度低、大股东持股比例高的银行具有更强的信贷扩张冲动;并利用2009年宏观经济扩张政策外生冲击形成的"自然实验"环境,通过双重差分(Difference-in-Difference)估计策略发现,宏观调控对中央政府控制、民营化程度低、大股东持股比例高的银行的信贷行为影响更为显著。本文的研究从政府控制和银行内部治理的视角为信贷扩张的微观机制以及商业银行市场化改革之后政府宏观经济调控的传导渠道提供了一个新的解释。
[Abstract]:Based on the theory of corporate finance and commercial bank, this paper clarifies the mechanism of equity structure on credit expansion of commercial banks, and analyzes how the goal and intention of government macro-control policy affect credit behavior through ownership structure. Using panel data of 21 banks from 2003 to 2010, it is estimated that the central government controls, the privatization degree is low, and the banks with high shareholding ratio have stronger credit expansion impulse. Using the "natural experiment" environment formed by the exogenous impact of macroeconomic expansion policy in 2009, we find that the degree of privatization is low through the double differential differential-in-Difference-in-Differencein estimation strategy. The credit behavior of banks with large shareholders holding shares is more significant. From the perspective of government control and bank internal governance, this paper provides a new explanation for the micro mechanism of credit expansion and the transmission channels of government macro-economic regulation after the market-oriented reform of commercial banks.
【作者单位】：暨南大学金融系;
【基金】：广东省人文社科重点基地重大项目(09JDXM79009) 中央高校基本科研业务费专项资金资助项目(11JYB3001)的资助
【分类号】：F832.4;F123.16;F224

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