暨南学报(哲学社会科学版)

作者：黄敏, 蒋海

单位：经济学博士,广州大学经济与统计学院讲师,研究方向为金融监管与风险管理、公司治理与公司金融;蒋海,暨南大学经济学院金融系教授,博士生导师,研究方向为金融监管与风险管理、公司治理与公司金融。

关键词：信息披露,信息裁量,风险承担,市场约束

基金：国家自然科学基金资助项目“考虑尾部风险关联性和逆周期因子的宏观审慎金融监管机制研究”(批准号:71973053)。

防风险是当前供给侧结构性改革的重点工作。为了保障金融端供给侧质量,降低模糊市场信号导致的无效供给,需要充分发挥信息披露对银行风险承担行为的约束作用。有鉴于此,本文以2002—2014年中国127家商业银行为研究样本,检验了信息披露质量对银行风险承担行为的影响。实证结果表明,提高信息披露质量有助于约束银行的风险承担行为。具体而言,提高信息披露程度有利于市场参与者感知银行风险,实现对银行风险承担行为的“被动”约束;同时,降低信息裁量程度有利于遏制银行的“主动”风险转移行为。银行竞争对信息披露程度与风险二者关系的偏效应为正,即激烈的竞争环境会强化信息披露程度对银行风险承担的约束作用。此外,国有银行和城商行的信息披露程度对银行风险的抑制作用不显著;城商行的信息裁量程度对风险的影响则比其他银行更突出。"/>template{display:none;}.mag-rich-xref-fn { cursor: pointer;}//长视频$(document).ready(function(){if($("#showLongArticleVideo") && $("#showLongArticleVideo").length && $("#showLongArticleVideo").length>0){mag_ajax_update({ele_id:'showLongArticleVideo',url:mag_currentQikanUrl() + "/CN/article/showLongArticleVideo.do?id="+$("#articleId").val()});}});$(document).ready(function(){window.metaData = {"journal":{"issn":"1000-5072","qiKanMingCheng_CN":"暨南学报（哲学社会科学版）","id":2,"qiKanMingCheng_EN":"Jinan Journal"},"fundList_cn":["国家自然科学基金资助项目“考虑尾部风险关联性和逆周期因子的宏观审慎金融监管机制研究”(批准号:71973053)。"],"article":{"keywordList_cn":["风险承担","市场约束","信息裁量","信息披露"],"juan":"42","zhaiyao_cn":"防风险是当前供给侧结构性改革的重点工作。为了保障金融端供给侧质量,降低模糊市场信号导致的无效供给,需要充分发挥信息披露对银行风险承担行为的约束作用。有鉴于此,本文以2002—2014年中国127家商业银行为研究样本,检验了信息披露质量对银行风险承担行为的影响。实证结果表明,提高信息披露质量有助于约束银行的风险承担行为。具体而言,提高信息披露程度有利于市场参与者感知银行风险,实现对银行风险承担行为的“被动”约束;同时,降低信息裁量程度有利于遏制银行的“主动”风险转移行为。银行竞争对信息披露程度与风险二者关系的偏效应为正,即激烈的竞争环境会强化信息披露程度对银行风险承担的约束作用。此外,国有银行和城商行的信息披露程度对银行风险的抑制作用不显著;城商行的信息裁量程度对风险的影响则比其他银行更突出。","endNoteUrl_en":"https://jnxb.jnu.edu.cn/skb/EN/article/getTxtFile.do?fileType=EndNote&id=6389","bibtexUrl_cn":"https://jnxb.jnu.edu.cn/skb/CN/article/getTxtFile.do?fileType=BibTeX&id=6389","abstractUrl_en":"https://jnxb.jnu.edu.cn/skb/EN/Y2020/V42/I3/44","qi":"3","id":6389,"nian":2020,"bianHao":"2020-3-44","zuoZheEn_L":"HUANG Min, JIANG Hai","juanUrl_en":"https://jnxb.jnu.edu.cn/skb/EN/Y2020","shouCiFaBuRiQi":"2020-04-30","qiShiYe":"44","qiUrl_cn":"https://jnxb.jnu.edu.cn/skb/CN/Y2020/V42/I3","lanMu_cn":"经济·管理","pdfSize":"874","zuoZhe_CN":"黄敏, 蒋海","risUrl_cn":"https://jnxb.jnu.edu.cn/skb/CN/article/getTxtFile.do?fileType=Ris&id=6389","title_cn":"信息披露质量对银行风险承担的影响","jieShuYe":"56","keywordList_en":["information disclosure","information discretion","market discipline","risk-taking"],"endNoteUrl_cn":"https://jnxb.jnu.edu.cn/skb/CN/article/getTxtFile.do?fileType=EndNote&id=6389","zhaiyao_en":"Risk prevention is the major task of the supply-side structural reforms. It is of great significance to exert market discipline resulting from information disclosure on banks’ risk-taking behaviors to assure the quality of financial supply-side and reduce the invalid supply by fuzzy market signals. Based on this, this paper examines the impact of information disclosure quality on banks’ risk-takings for 127 Chinese commercial banks over the period 2002-2014. Empirical results show that improvement of the information disclosure quality helps to constrain on banks’ risk-taking behaviors. More specifically, more information disclosure is beneficial for market participants to perceive bank risks comprehensively and therefore subject banks to market discipline passively, while less information discretion is conducive to actively restrain on banks’ risk-taking behaviors. The partial effect of competition on the relationship between information disclosure and risk is positive, that is, the market discipline effect would be strengthened in competitive banks. 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来源：2020年第3期

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