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2014年11月22日,央行宣布非对称降息,意图以更间接的方式,在银行等金融机构按市场规则应对的情况下达到政策目标。基于此,本文分析了利率和银行风险承担之间的关系及公司治理因素对这种关系的影响。基于2007年到2013年16家上市商业银行的数据进行实证,结果显示:(1)利率降低会提升银行的风险承担水平;(2)第一股东持股比例上升会增加银行的风险承担水平;(3)第一股东持股比例上升会提高银行风险承担对利率的敏感度。
On November 22, 2014, the Central Bank announced an asymmetric interest rate cut, aiming to achieve the policy objective in a more indirect way when financial institutions such as banks respond to market rules. Based on this, this paper analyzes the relationship between interest rates and bank risk appetite and the impact of corporate governance on this relationship. Based on the data of 16 listed commercial banks from 2007 to 2013, the empirical results show that: (1) the lowering of interest rate will enhance the level of risk-taking of banks; (2) The increase of the first shareholder’s shareholding will increase the level of risk-taking of banks; (3) The increase of the first shareholder’s shareholding will increase the sensitivity of the bank’s risk appetite to the interest rate.