绿色金融政策与商业银行风险承担;机理、特征与实证研究

张志红

        基于 2008—2020 年中国 174 家商业银行样本数据，采用多时点双重差分模型实[size=8.83019pt]证[size=8.83019pt]检验[size=8.83019pt]绿[size=8.83019pt]色信[size=8.83019pt]贷[size=8.83019pt]影[size=8.83019pt]响[size=8.83019pt]商[size=8.83019pt]业[size=8.83019pt]银行风[size=8.83019pt]险[size=8.83019pt]承担[size=8.83019pt]的机[size=8.83019pt]理[size=8.83019pt]、[size=8.83019pt]效应[size=8.83019pt]与[size=8.83019pt]特征[size=8.83019pt]，[size=8.83019pt]研究发现[size=8.83019pt]，[size=8.83019pt]商[size=8.83019pt]业[size=8.83019pt]银行[size=8.83019pt]积极[size=8.83019pt]开[size=8.83019pt]展[size=8.83019pt]绿[size=8.83019pt]色信[size=8.83019pt]贷[size=8.83019pt]业[size=8.83019pt]务会[size=8.83019pt]显[size=8.83019pt]著降低[size=8.83019pt]其风[size=8.83019pt]险[size=8.83019pt]承担[size=8.83019pt]水平[size=8.83019pt]，[size=8.83019pt]在[size=8.83019pt]规[size=8.83019pt]模[size=8.83019pt]较[size=8.83019pt]大[size=8.83019pt]、[size=8.83019pt]资[size=8.83019pt]本[size=8.83019pt]充足[size=8.83019pt]率[size=8.83019pt]较[size=8.83019pt]高[size=8.83019pt]、[size=8.83019pt]市[size=8.83019pt]场[size=8.83019pt]势[size=8.83019pt]力[size=8.83019pt]较[size=8.83019pt]强[size=8.83019pt]、[size=8.83019pt]业[size=8.83019pt]务[size=8.83019pt]经[size=8.83019pt]营[size=8.83019pt]范围[size=8.83019pt]较[size=8.83019pt]广[size=8.83019pt]的[size=8.83019pt]银行中[size=8.83019pt]影[size=8.83019pt]响更[size=8.83019pt]为[size=8.83019pt]显[size=8.83019pt]著[size=8.83019pt]; [size=8.83019pt]作[size=8.83019pt]用机[size=8.83019pt]制检验[size=8.83019pt]结[size=8.83019pt]果显[size=8.83019pt]示[size=8.83019pt]，[size=8.83019pt]绿[size=8.83019pt]色信[size=8.83019pt]贷[size=8.83019pt]降低[size=8.83019pt]商[size=8.83019pt]业[size=8.83019pt]银行[size=8.83019pt]的[size=8.83019pt]风[size=8.83019pt]险[size=8.83019pt]承[size=8.83019pt]担[size=8.83019pt]水平[size=8.83019pt]，[size=8.83019pt]是[size=8.83019pt]通过提[size=8.83019pt]升[size=8.83019pt]商[size=8.83019pt]业[size=8.83019pt]银行[size=8.83019pt]盈[size=8.83019pt]利[size=8.83019pt]水平[size=8.83019pt]、[size=8.83019pt]改[size=8.83019pt]变[size=8.83019pt]商[size=8.83019pt]业[size=8.83019pt]银行[size=8.83019pt]盈[size=8.83019pt]利结构的[size=8.83019pt]“[size=8.83019pt]盈[size=8.83019pt]利[size=8.83019pt]”[size=8.83019pt]渠道[size=8.83019pt]，[size=8.83019pt]以及[size=8.83019pt]通过提[size=8.83019pt]高总[size=8.83019pt]体[size=8.83019pt]违约[size=8.83019pt]风[size=8.83019pt]险[size=8.83019pt]和资[size=8.83019pt]产[size=8.83019pt]风[size=8.83019pt]险[size=8.83019pt]承担能力[size=8.83019pt]的[size=8.83019pt]“[size=8.83019pt]风[size=8.83019pt]险[size=8.83019pt]”[size=8.83019pt]渠道[size=8.83019pt]达[size=8.83019pt]到[size=8.83019pt]的[size=8.83019pt]。[size=8.83019pt]进[size=8.83019pt]一[size=8.83019pt]步[size=8.83019pt]分析[size=8.83019pt]表[size=8.83019pt]明[size=8.83019pt]，[size=8.83019pt]地[size=8.83019pt]区[size=8.83019pt]绿[size=8.83019pt]色[size=8.83019pt]发[size=8.83019pt]展水平越[size=8.83019pt]高[size=8.83019pt]，[size=8.83019pt]商[size=8.83019pt]业[size=8.83019pt]银行开[size=8.83019pt]展[size=8.83019pt]绿[size=8.83019pt]色信[size=8.83019pt]贷[size=8.83019pt]业[size=8.83019pt]务相[size=8.83019pt]应[size=8.83019pt]的[size=8.83019pt]风[size=8.83019pt]险[size=8.83019pt]承担[size=8.83019pt]水平越[size=8.83019pt]低[size=8.83019pt]。