Research On The Peer Effect Of Liquidity Creation In Chinese Commercial Banks

As one of the important functions of commercial banks,while commercial banks create liquidity and provide liquidity for the society,liquidity risk is also surging.With the increasing expansion of interbank business,coupled with the asset selection and investment behavior of residents and enterprises in China,along with the tightening of supervision and the development of the financial market,the maturity mismatch between assets and liabilities of commercial banks is deepening,which to a certain extent seriously weakens the operational stability of commercial banks and aggravates their own fragility,which makes commercial banks face more serious run risks in the period of economic downturn.The situation of preventing liquidity risk is very serious.At present,the research on liquidity creation of commercial banks is mostly focused on the function of bank liquidity creation,the influence of macro factors on the scale of bank liquidity creation,the influence of micro factors on the scale of bank liquidity creation,and the relationship between liquidity creation and liquidity risk of commercial banks.Few literatures discuss the liquidity management decision-making behavior of commercial banks from the perspective of peer effect.Therefore,as far as the reality of our country is concerned,it is very necessary to understand the characteristics and influence mechanism of liquidity creation of commercial banks.This paper focuses on the peer effect of liquidity creation of commercial banks in China and the mechanism behind the same group effect.When studying the peer effect of liquidity creation of commercial banks based on imitation strategy,this paper verifies the existence of the same group effect through the introduction of tool variables.When the liquidity of commercial banks based on learning strategy creates the same group effect,this paper adds the lag term of other characteristic variables of the same group of banks to explore whether the characteristic information of other banks of the same group has a significant impact on the liquidity management decision of a single bank.Based on the conclusion of this paper,the liquidity creation of commercial banks presents a peer effect,that is,the liquidity management decisions of other banks will affect a single bank,and the performance of this peer effect is significant.among them,the cost-income ratio of micro-control variables and the proportion of non-interest income can effectively regulate the peer effect of liquidity creation of commercial banks.Today,when the banking industry is becoming more and more closely linked,if we only emphasize the micro-supervision of individual banks,it is far from the purpose of preventing the crisis of banks.Only by paying attention to the relationship between banks in the banking system,and effectively supervising and grasping it,can we really take precautions against trouble,which is also the quintessence of macro-prudential supervision.The relevant authorities should focus on the existence of the peer effect of banking liquidity creation,do not ignore the liquidity risk level of individual banks,individual bank liquidity management decisions will be affected by other banks,and further strengthen macro-prudential supervision.