CAJ | 학술논문

本文首先在古诺模型的框架下，从理论上探讨利率市场化对银行业的竞争模式与盈利结构产生的影响，然后通过中国29家商业银行2001～2012年度财务数据的经验研究，探讨贷款利率放开后，中国商业银行的价格竞争与其风险承担之间的关系。本文研究发现：（1）贷款利率上限取消后，价格竞争加剧，银行风险承担增大，而且上行的经济环境会助推银行业的风险承担；（2）价格竞争对银行风险承担的影响依赖于货币政策，宽松的货币环境会导致银行风险暴露增大；（3）银行规模越大，市场竞争力越强，其风险承担越低，中小商业银行的风险承担行为对贷款价格竞争和货币政策的反应相对比较敏感。
본문수선재고낙모형적광가하，종이론상탐토리솔시장화대은행업적경쟁모식여영리결구산생적영향，연후통과중국29가상업은행2001～2012년도재무수거적경험연구，탐토대관리솔방개후，중국상업은행적개격경쟁여기풍험승담지간적관계。본문연구발현：（1）대관리솔상한취소후，개격경쟁가극，은행풍험승담증대，이차상행적경제배경회조추은행업적풍험승담；（2）개격경쟁대은행풍험승담적영향의뢰우화폐정책，관송적화폐배경회도치은행풍험폭로증대；（3）은행규모월대，시장경쟁력월강，기풍험승담월저，중소상업은행적풍험승담행위대대관개격경쟁화화폐정책적반응상대비교민감。
On July 20,2013, the people＇s bank of China decided to remove the financial institution lending rate controls, and cancel the constrain of lending at least 70% rate, and permit them to decide the lending rate ac- cording to the principle of commercial rules. These liberalizations of interest rates will push interest rate liberaliza- tion reformation a big step forward. No longer loan interest rate controlled, banks would face more and more intense competition from each other. Due to the liberalization reformation, interest rate will be decided according to specific market demands and business costs that would change the current commercial bank interest rate decision mechanism completely, and king behaviors would lead to a big challenge of the current business model. What would happen to banks risk see- if load-deposit spreads narrowed, competition increased,credit risk increased？ What should they do to recognize and avoid banks system risk in this situation？ The intensified market competition and competitive mar- ket-oriented strategy forces banks to enhance their competitive behavior. And the transmission mechanism of risk gradually clear, and make theorists and practitioners began to realize that the competition for the stability of the banking system will therefore have an important effect on bank lending competition. There has been the focus of the regulatory authorities and academia to discuss the relationship, particularly price competition and bank exposures. The main purpose of this paper is to study the impact of interest rate liberalization on banking competition and risk taking behavior through theoretical and empirical analysis, so as to provide valuable reference for the promotion of China＇s financial system reform. There are two main contributions in this paper：the first is to build a theoretical model in accordance with the actual background of China, and give discussion on the impact of interest rate liberal- ization on commercial Banks＇ competition and profit structure with the theoretical model;The second contribution is to analyze the price competition between commercial banks and their risk-taking behavior after the removal of loan interest rate ceiling, using the actual data in the bank industry Firstly, a Cournot game model is developed to discuss the impacts of interest rate liberalization on the banking competition mode and profit structure. Then based on the financial panel data in 2001-2012 of 29 commercial banks, an empirical study is conducted to analyze the relationship between the price competition and risk taking in commercial banks in China after the removal of the loan rate ceiling in 2004. What＇s more, we empirically discuss the problem whether the impact is dependent on the vestigate the heterogeneity of the impact by dividing Banks,joint-stock Banks and city Banks environment of monetary policy. At the same time, we also in- the entire sample into three subsamples, namely state-owned Theoretical and empirical analysis present three main conclusions ：（ 1 ） The Removal of loan rate ceiling has creased commercial banks＇ price competition and risk-taking behavior, especially in prosperous economic environ- ment. （2） The impact of price competition on risk taking depends on monetary policy, and easy monetary environ- ment will increase the risk exposure. （ 3 ） Banks with large market size will be more competitive in loan rate competi- tion while taking low risks, small and medium-sized commercial banks are more sensitive to the competition of loan- rate and the changes of monetary policy