Research On The Bank's Political Associated Channel Of Bank Risk-taking

In2013, the third plenary session of the18th put forward:"the focus of the economic system reform is comprehensively deepen reform, the core problem is to correctly handle the relationship between government and market, the market plays a decisive role in the allocation of resources and would better give play to the role of the government." This development concept not only fit the after the founding of new China, especially in the political system of our country after reform and opening-up,and the objective laws of economic system change myself, but also reflects our country institution endowment structure of today and future social and economic development needs. In Perspective from the new institutional economics and the system of finance, the system of a country's institutional endowment of the country's has the founding influence of economic growth and development, and the financial embedded in the economic development also is restricted by institution endowment. But the financial as special industry in the economy operation with creating credit not only is restricted by system of basic endowment, but also by different financial institution endowment of regulation. Macro level, a country's financial institution endowment is part of the system of the country's basic endowment, but the current financial development in the important position in the economic growth and financial institution endowment in a country's basic system of the endowment special status. In this sense, the changes of the basic system of a country will affect the changes of the financial system, and also the changes of the financial system not only reflect the country's basic system vicissitude important characteristics, but also affect the country's basic system of the endowment change characteristics. This institutional change path is the most prominent characteristics for China. In addition, the previous financial crisis triggered by the financial risks presented by the enormous destructive and infection on the real economy to highlight the importance of financial institutional change, because the scientific and reasonable system formed by the institutional change of endowment for promoting financial development and reduce financial risk and improve the financial efficiency has an irreplaceable role.In view of this, this article based on the perspective of new institutional economics and the system of finance, and around the "institution endowment structure and the characteristics "->"features and the formation of the basic system of institutional changes"->"political association path formation motivation, form and performance"->"bank risk-taking" four questions arrangement in advance, and arguments from two dimensions of the empirical experience and theory of equilibrium analysis, studing the associated path effect on bank risk-taking under the background of the political system of our country endowment structure.Specifically, the analyzed in the article closely around the political relevance of institutional factors and the formation of the political form of associated impact on bank risk-taking behavior. The key to solve the basic proposition of are:First, how does the based system in China impact on bank risk-taking; Second, how does bank executives political background as the main form of dominant political association path impact on bank risk-taking behavior; Third, how does the actual control of government and state-owned bank equity nature as the main form of dominant political association impact on bank risk-taking behavior; Fourth, how does the crossover factor formed by the dominant political association impact on bank risk-taking behavior; Fifth, how does based on the government, the bank of recessive political association which is formed by the two sides game impact on bank risk-taking behavior; Sixth, how does based on the government, state-owned enterprises, Banks recessive political association which is formed by the tripartite game impact on bank risk-taking behavior. Combined with the research ideas and propositions, this paper combines the new institutional economics, the system of finance, economics and finance discipline knowledge, and adopting the combination of theoretical research and experience demonstrates the research methods.This paper closely around the basic proposition and research core, on the basis of theoretical deduction experience induction, comparison and equilibrium analysis and reasoning to get basic conclusions as follows:(1).The basic economic system factors promoted the bank three risk bearing level; Property rights protection system and social awareness of factors impact on bank risk bearing appears weak and basic state is not significant; Basic financial system market-based degree of credit capital allocation factors in measuring sense more significantly improve the banking system risk and non-system risk levels, and, there is no significant impact on the overall risk bearing level, financial market competition factors significantly increased the risk of bank risk.(2). External macroeconomic level of the real estate market booming factor influence on bank's risk-taking is weak and not significant; Growth factor conforms to reduce the bank risk bearing level of expectations. Sample level of commercial bank's net profit growth rate and scale factors impact on the Banks of different types there is a certain risk and significantly, bank size will actively promote bank three types of risk bearing level, while net profit growth factors significantly reduce the risk of system for overall ascension unsystematic risk and overall risk level.(3). Executives political background as the main characteristics of the dominant political association path based institutional factors did not significantly change and the rest of the control variables influence on bank risk-taking behavior, but its three kinds of risk-taking behavior exists for Banks and significantly. Executives of the political background of risk in the banking system positively influence degree is higher than its impact on overall risk and unsystematic risk.(4). Government control factors on the Banks of the influence of three kinds of risk bearing small and not significant; Bank of state-owned equity properties have a certain influence factors on the Banks of various kinds of risk bearing and significant. State-owned equity factors increase the risk of bank's total degree but reduce the banking system and non-system risk bearing level(5). Senior political background and the actual control interaction factors significantly reduce the risk of bank system and non-system risk bearing level, government control factors significantly increase bank system risk and non-system risk level. Senior political background significantly increased bank system and non-system risk exposure levels.(6). External institutional constraints and the government intervention established, the government agent and cooperation within the framework of balanced benefit bank managers about cooperation is its dominant strategy choice, this kind of cooperation benefits provided the bank managers actively build recessive political association path intrinsic motivation. But this is based on the cooperation and the formation of a recessive political association path caused bank managers of rent-seeking behavior and government subsidies behavior will increase bank risk-taking.(7). Governments, Banks and state-owned enterprise tripartite game balanced conclusion reveals that exists between commercial Banks and state-owned enterprises and the government's recessive political path associated directly or indirectly around the government and the government project as the center, this is closely related between state-owned enterprises and government. Current institution endowment constraints, based on the recessive political connection path of bank managers, the state-owned enterprise managers and the government agent of choice of equilibrium strategies not only intensified the bank credit expansion, but also contributed to the risk level.According to the research contents of this paper and the existing related research, the innovation of this paper is mainly manifested in the following aspects:First, based on Coase, founded the new classical comparative static analysis on institutional change and Hayek on the dynamic evolution of institutional change analysis paradigm, the system of institutional change within the framework of dynamic evolution theory to explore China's endowment and the reform of the political system of the economic system structure of banking channels of political association, and ultimately through the theoretical research and the experience of the reasonable argument political associated channels of influence on bank risk-taking and adaptation rate evaluation.Second, on equilibrium analysis section, the article theory breaks through the existing related study exogenous assumption of apriority system, through the reasonable assumption to institutional arrangements and political association of informal institution endogenous to the equilibrium model, finally it is concluded that based on institutional constraints, the path of political relation and bank risk-taking based on dynamic equilibrium between political connection path influence on bank risk-taking.Third, system analysis system endowment structure influence on a country's institutional change, and systems analysis of institutional change and concrete system arrangement (economic system and financial system) link between, for the political correlation, path and influence on bank risk-taking provide the institutional basis of the system. And theoretically deduce political association as one of the unofficial system and formal system between the "feedback Loop (Feedbeck Loop)" dynamic mechanism.