| After the outbreak of the global subprime crisis,the living environment of the banking industry has undergone profound changes.The phenomenon of financial disintermediation has intensified,the interest rate gap has narrowed,and the banking regulatory constraints have become more stringent.In the face of increasingly complex business environment,the business model that mainly depended on the scale expansion of deposit and loan spread business in the past is difficult to sustain,and commercial banks have to achieve long-term development through transformation.Among them,lightweight has gradually become the mainstream direction of strategic transformation in domestic and foreign banking circles.Driven by the light-weight strategy,the asset structure,income structure and cap ATRl use efficiency of commercial banks have also changed with the adjustment of their own business system.The light-weight transformation has changed the original financial format of commercial banks,which may have a new impact on bank risk bearing.On the basis of summarizing the connotation of the light-weight transformation,combined with theoretical analysis and empirical test,this paper further explores the impact of the light-weight transformation on bank risk taking,and finally puts forward suggestions to optimize the light-weight transformation of China’s commercial banks.First of all,define the meaning of lightweight transformation,summarize the lightweight transformation into three levels of "light asset","light income" and "light operation" according to the concept connotation,and theoretically analyze the impact of lightweight transformation on bank risk bearing at all levels.Secondly,taking the quarterly panel data of 15 listed commercial banks from 2008 to 2021 as a sample,the financial market business ratio,non-interest income ratio and asset turnover ratio were selected to measure the transformation of "light assets","light income" and "light operation" respectively,and the fixed effect model was used to empirically test the impact of three levels of light on bank risk bearing,And further establish a threshold panel regression model to focus on the threshold effect of the impact of different levels of lightening on bank risk taking.The results show that: first,the benchmark regression test shows that there are differences in the impact of different levels of lightening on risk taking: the asset-light transformation and the light-income transformation have significantly increased bank risk taking,but the light-business transformation has significantly mitigated bank risk taking;Second,the threshold regression test shows that there is a threshold effect on the impact of the asset-light transformation and the income-light transformation on the risk taking of banks,that is,with the deepening of the degree of lightness,its negative impact on the risk taking is gradually weakening,but there is no threshold effect on the impact of the light-business transformation on the risk taking;Third,the impact of light weight on risk bearing is heterogeneous among different types of commercial banks,that is,the negative impact of light asset transformation on the risk bearing of non-state banks is stronger,the light income transformation has a significant negative impact on the risk bearing of non-state banks,but the impact on state-owned banks is not significant,the light operation transformation has a significant positive impact on the risk bearing of state-owned banks,but the impact on non-state banks is not significant.Finally,based on the results of the previous study,from the perspective of commercial banks and regulatory authorities,it is proposed that commercial banks should prudently carry out asset-light business and improve non-interest business risk management in the short term.The regulatory authorities should formulate policy recommendations to create differentiated regulatory schemes for different banking systems and strengthen penetrating supervision. |
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