CAJ | 학술논문

本文基于15家中国上市银行2003-2012年数据，应用三阶段最小二乘法（3SLS）考察了杠杆率约束对银行资本、风险承担行为的影响。研究结果表明，兼顾了杠杆率约束的资本监管促进了我国商业银行资本水平的不断提高与风险水平的逐步下降．银行资本变动与风险水平变动之间存在显著的负相关关系。面对越来越严的监管标准．监管压力不仅作用于资本相对不足的银行．同样也作用于资本充足性银行．资本水平较高的银行具有更强的资本补充能力，向目标资本水平调整的速度更快。本文认为，《巴塞尔协议Ⅲ》关于杠杆率与资本充足性相结合的监管精神强化了金融风险监管．对未来我国商业银行表外业务及风险计量方法的使用具有重要的意义。
본문기우15가중국상시은행2003-2012년수거，응용삼계단최소이승법（3SLS）고찰료강간솔약속대은행자본、풍험승담행위적영향。연구결과표명，겸고료강간솔약속적자본감관촉진료아국상업은행자본수평적불단제고여풍험수평적축보하강．은행자본변동여풍험수평변동지간존재현저적부상관관계。면대월래월엄적감관표준．감관압력불부작용우자본상대불족적은행．동양야작용우자본충족성은행．자본수평교고적은행구유경강적자본보충능력，향목표자본수평조정적속도경쾌。본문인위，《파새이협의Ⅲ》관우강간솔여자본충족성상결합적감관정신강화료금융풍험감관．대미래아국상업은행표외업무급풍험계량방법적사용구유중요적의의。
Based on economic and financial data of 15 listed Banks from 2003 to 2012 of China, this paper investigatesthe influence of leverage ratio rule on banks＇ capital and risk-taking behavior. The result shows that the capital regulationwith leverage ratio constraint has promoted the commercial banks＇ capital level and decreased the risk level gradually. A sig-nificant negative association between changes in capital reserve and risk level has been found. In addition, being faced withcontinuous rise of the regulatory standard, the banks with adequate capital may conduct faster self-adjustment towards thetarget capital level. This paper argues that the Basel HI containing leverage ratio rule strengthens the financial risk supervi-sion, promotes the global stability of the economic and financial system, and should have impact on Chinese commercialbanks＇ off-balance sheet business as well as the use of risk measurement methods in the future.