利率市场化对商业银行“三性”经营的影响效应研究

Research on the Impact of Interest Rate Liberalization on the Operation and Management of Commercial Banks

摘要

利率市场化是我国金融供给侧结构性改革的核心内容,其深化推进利率市场化对商业银行经营管理模式提出了全新挑战.以安全性、流动性、盈利性“三性”经营为分析框架,选取2013-2022年我国16家上市商业银行(国有银行、股份制银行和城商行)为研究样本,运用主成分分析法构建商业银行经营绩效综合评价指标,结合固定效应面板数据模型,实证检验利率市场化水平对商业银行经营管理的影响.研究结果表明:利率市场化指数与商业银行整体经营绩效呈显著负相关,对盈利性存在显著负向影响,而对安全性和流动性均具有显著正向促进作用;大型上市商业银行凭借完善的风险管理体系和资产负债调节能力,在利率市场化进程中实现了安全性与流动性的提升,但传统存贷款利差收窄对盈利性形成明显冲击.研究为利率市场化深化背景下商业银行优化经营管理策略、提升市场化适应能力提供了实证参考,也为金融监管部门完善相关配套制度提供了理论依据.

Abstract

With China’s interest rate pricing mechanism gradually shifting from administrative guidance to market determination, the process of interest rate liberalization has continued to deepen, exerting a profound impact on the operation and management of commercial banks. Based on the panel data of 16 listed commercial banks from 2013 to 2022, including state-owned banks, joint-stock commercial banks and urban commercial banks, this paper incorporates the safety, liquidity and profitability of commercial banks into a unified framework. By constructing the Interest Rate Liberalization Index (IRLI) and using principal component analysis and fixed-effect model for empirical testing, the results show that the degree of interest rate liberalization is significantly negatively correlated with the profitability of listed commercial banks, significantly positively correlated with their safety, and positively correlated with their liquidity. The research conclusions provide an empirical reference for commercial banks to optimize their operation and management strategies and enhance their adaptability to the market under the background of the deepening of interest rate liberalization and offer a theoretical basis for financial regulatory authorities to improve the relevant supporting systems.

关键词

利率市场化 / 商业银行 / “三性”经营原则 / 经营绩效 / 面板数据模型

Key words

interest rate liberalization / commercial banks / the three principles of operation / operating performance / panel data model

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