摘要
金融衍生品具有高度复杂性,而商业银行作为金融衍生品市场的主要参与者,近年来交易量不断扩大。本文通过对我国16家上市商业银行2013-2018年经营数据进行实证研究,检验金融衍生品对商业银行的经营绩效和信贷扩张的影响,发现商业银行使用金融衍生品可以提升经营绩效,但作用有限;金融衍生品可以促进商业银行信贷扩张,且效果较明显。根据研究结论提出商业银行应定期评估金融衍生品风险对冲效果,建立各部门协同监管机制对衍生品市场进行监管等建议。
Financial derivatives have a high degree of complexity.Commercial banks,as the main participants in the financial derivatives market,have increased their trading volume in recent years.The author examines the impact of financial derivatives on the business performance and credit expansion of 16 listed banks in China from 2013 to 2018.The result shows that commercial banks can use financial derivatives to improve business performance,but the effect is relatively small.At the same time,financial derivatives can promote credit expansion with a significant effect.In conclusion,commercial banks should regularly evaluate the hedging effect of derivatives,and establish a mechanism of coordinated supervision by all departments to supervise the derivatives market.
出处
《上海立信会计金融学院学报》
2020年第1期39-49,共11页
Journal of Shanghai Lixin University of Accounting and Finance
关键词
金融衍生品
商业银行
经营绩效
信贷扩张
Financial derivatives
Commercial bank
Operating performance
Credit expansion
