Research On The Impact Of Debt Structure On The Risk-Taking Behavior Of China's Listed Commercial Banks

As China's economy shifts from high-speed growth to high-quality growth,the deepening of the structural reform of the financial supply side and the impact of the Sino-US trade frictions have placed new demands on the current debt business and financing options of China's commercial banks.Exploring diversified financing channels and rationally promoting the development of non-deposit liability are conducive to meeting the capital needs of China's commercial banks and enhancing their competitiveness.The “risk-taking behavior” in this paper refers to the choice of commercial banks to undertake a certain degree of risk in order to meet their business operations and other needs.The analysis of the liability structure and the risk-taking behavior is conducive to the timely discovery of problems by China's commercial banks and their risk-taking behaviors,and promote the stable operation of China's financial system.From the perspective of the related factors of commercial bank's debt structure and risktaking,this paper explores the impact mechanism between debt structure and risk-taking behavior of commercial banks by using theoretical analysis and empirical research.First,based on the classification of liability types of deposit liabilities and non-deposit liabilities,HRD and MHRD are selected as the liability structure variables of commercial banks.At the same time,RAR is selected as the risk variables of commercial banks.Then,based on the quarterly data of 16 listed commercial banks in China from 2005 to 2018,a fixed effect panel model,a threshold regression model and a dynamic panel model were established for regression analysis.The empirical research results show that there is a significant negative correlation between the proportion of non-deposit liabilities of listed commercial banks in China and their risk-taking behaviors,and this phenomenon is more obvious among small and medium-sized listed commercial banks.At the same time,the impact of China's listed commercial banks' debt structure on their risk-taking behavior has a threshold effect.Finally,based on the empirical results,this paper proposes relevant countermeasures from the perspectives of commercial banks' rational development of non-deposit liability business and strengthening supervision of risk-taking behavior.