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논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 저널정보
- 한국금융공학회 金融工學硏究 金融工學硏究 제20권 제3호
- 발행연도
- 2021.10
- 수록면
- 171 - 200 (30page)
- DOI
- 10.35527/kfedoi.2021.20.3.007
이용수
초록· 키워드
오류제보하기
This paper studies the impact of economic uncertainty on the risk-taking of Chinese commercial banks, and the role of dynamic leverage adjustment in the impact mechanism. On this basis, combined with the characteristics of the scale and listing of Chinese commercial banks, this paper discusses the moderating effect of economic uncertainty on bank risk-taking. The main empirical results of this paper are as follows.
First, economic uncertainty will lead to the increase of bank income volatility and risk. Second, due to the influence of external uncertainty, the leverage ratio of banks will be too high(too low), and banks will quickly reduce(increase) the leverage level according to their leverage adjustment function, which alleviates the risk to a certain extent. Third, further research shows that the leverage adjustment mechanism of listed banks and large banks is more obvious.
Therefore, Chinese commercial banks should build a sound macroeconomic early warning system to predict and early warn the economic situation in advance, so as to reduce the impact of adverse shocks.
목차
등록된 정보가 없습니다.
참고문헌 (38)
참고문헌 신청
Adrian T. / 2010 / Liquidity and Leverage / Journal of Financial Intermediation 19(3):418~437
Alessandri P. / 2017 / Bank Lending in Uncertain Times
Altunbas Y, Gambacorta L. / 2010 / Bank Risk and Monetary Policy / Journal of Financial Stability 6(3):121~129
Baker S R / 2014 / Why Has US Policy Uncertainty Risen since 1960? / American Economic Review 104(5):56~60
Basu S. / 2018 / Uncertainty Shocks in a Model of Effective Demand: Reply
Alessandri P. / 2017 / Bank Lending in Uncertain Times
Altunbas Y, Gambacorta L. / 2010 / Bank Risk and Monetary Policy / Journal of Financial Stability 6(3):121~129
Baker S R / 2014 / Why Has US Policy Uncertainty Risen since 1960? / American Economic Review 104(5):56~60
Basu S. / 2018 / Uncertainty Shocks in a Model of Effective Demand: Reply
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