CAJ | 학술논문

全球性金融危机对银行体系和实体经济的重创引发人们对银行资本缓冲周期性行为的广泛探讨。本文基于我国上市银行的季度数据，划分不同的经济周期阶段．对我国商业银行资本缓冲的周期性行为及其驱动因素进行考察。研究发现，样本期内．我国上市银行的资本缓冲具有逆周期性。而且资本缓冲对经济周期的敏感性是非对称的．在经济衰退期．资本缓冲受经济波动的影响更为强烈。银行资本和信贷资产都是银行资本缓冲逆周期行为的驱动因素，只是所有权性质不同的银行，其逆周期行为的驱动来源会有所差异．大型银行的资本缓冲倾向于资本方式的调整。本文的结论对我国制定适当的资本缓冲政策和促使商业银行加强资本管理等具有重要的启示。
전구성금융위궤대은행체계화실체경제적중창인발인문대은행자본완충주기성행위적엄범탐토。본문기우아국상시은행적계도수거，화분불동적경제주기계단．대아국상업은행자본완충적주기성행위급기구동인소진행고찰。연구발현，양본기내．아국상시은행적자본완충구유역주기성。이차자본완충대경제주기적민감성시비대칭적．재경제쇠퇴기．자본완충수경제파동적영향경위강렬。은행자본화신대자산도시은행자본완충역주기행위적구동인소，지시소유권성질불동적은행，기역주기행위적구동래원회유소차이．대형은행적자본완충경향우자본방식적조정。본문적결론대아국제정괄당적자본완충정책화촉사상업은행가강자본관리등구유중요적계시。
The global financial crisis has triggered an extensive discussion on the cyclical behavior of bank capital buffers, with a serious damage to banking system and real economy. Based on quarterly data for the listed banks, this paper explores empirically the cyclical behavior of bank capital buffers and its driving factors in China, by dividing business cycle into different stages. Our results show that the capital buffers of China＇s listed banks are countercyclical during the sample period, and they are asymmetrically sensitive to the business cycle, which is more susceptible during the recession. Both bank capital and credit assets are driving factors of the countercyclical behavior of bank capital buffers. However, the driving sources are different between banks with different ownerships, with large banks tending to adjust their capital buffers through bank capital. Our conclusions have important implications for developing appropriate capital buffer policy and encouraging commercial banks to strengthen their capital management.