本文選題：貨幣政策 + 資本監(jiān)管��； 參考：《吉林大學(xué)》2017年碩士論文

【摘要】：2008年全球性的金融危機(jī)讓大家見(jiàn)識(shí)了金融體系不穩(wěn)定的威力,這也讓社會(huì)各界對(duì)銀行風(fēng)險(xiǎn)的關(guān)注愈來(lái)愈多。事實(shí)上,銀行風(fēng)險(xiǎn)受到很多因素的影響,但貨幣政策和資本監(jiān)管是不容忽視的兩點(diǎn)重要因素。隨著全球金融一體化進(jìn)程的深入和金融創(chuàng)新節(jié)奏的加快,銀行在資本監(jiān)管下的微觀行為,已經(jīng)不可能與外部的貨幣政策調(diào)控下的經(jīng)濟(jì)環(huán)境保持相對(duì)獨(dú)立。銀行受到微觀監(jiān)管和宏觀貨幣政策的雙重影響。無(wú)論是出于維持經(jīng)濟(jì)整體穩(wěn)定、向好的考量,還是出于維持金融穩(wěn)定的考量,都應(yīng)該重視貨幣政策和資本監(jiān)管的協(xié)同配合作用。將貨幣政策和資本監(jiān)管作為兩個(gè)影響因素提出,在研究傳統(tǒng)的銀行風(fēng)險(xiǎn)受貨幣政策影響的同時(shí),考慮資本監(jiān)管在其中發(fā)揮的作用是十分必要的。本文選取既具有關(guān)聯(lián)性又具有比較性的銀行風(fēng)險(xiǎn)、貨幣政策指標(biāo)進(jìn)行研究分析。本文在貨幣政策影響銀行風(fēng)險(xiǎn)承擔(dān)的基礎(chǔ)上,主要考慮資本監(jiān)管對(duì)貨幣政策的銀行風(fēng)險(xiǎn)承擔(dān)渠道的影響,其次考慮上市因素的影響,因?yàn)樯鲜腥谫Y對(duì)銀行的資本水平影響較大,對(duì)資本監(jiān)管帶來(lái)的資本約束會(huì)有影響,所以本文也分析了銀行上市的影響。本文分為以下五個(gè)部分:第一部分介紹研究銀行風(fēng)險(xiǎn)時(shí)考慮貨幣政策與資本監(jiān)管交互影響的重要性和必要性,說(shuō)明本文的研究背景及意義;綜述了貨幣政策、資本監(jiān)管與銀行風(fēng)險(xiǎn)三者之間關(guān)系的研究現(xiàn)狀。第二部分為理論研究,介紹貨幣政策風(fēng)險(xiǎn)承擔(dān)渠道的作用機(jī)制,以及考慮貨幣政策和資本監(jiān)管交互作用影響銀行風(fēng)險(xiǎn)的機(jī)制,為實(shí)證研究提供理論分析。第三、四部分分別為實(shí)證模型設(shè)定和實(shí)證結(jié)果分析,同時(shí)進(jìn)行穩(wěn)健性檢驗(yàn),替換常用的貨幣政策指標(biāo),來(lái)說(shuō)明本文結(jié)論的穩(wěn)健性。第五部分為結(jié)論與建議,主要針對(duì)資本監(jiān)管,次要考慮上市融資對(duì)貨幣政策的銀行風(fēng)險(xiǎn)承擔(dān)渠道的影響。本文的結(jié)論主要有三點(diǎn):第一,貨幣政策對(duì)銀行的風(fēng)險(xiǎn)承擔(dān)有著重要的影響,且其影響依賴銀行的微觀特征。第二,商業(yè)銀行的微觀特征與貨幣政策的實(shí)施效果有很強(qiáng)的相關(guān)性,其中以資本情況的影響較為明顯。對(duì)于貨幣政策的敏感程度,本質(zhì)上也是抵消貨幣政策的能力,微觀特征不同的銀行其能力也不盡相同,例如銀行規(guī)模越大、資本越充足這種能力越強(qiáng)。第三,雖然商業(yè)銀行面臨同樣的資本監(jiān)管,但是基于其各自規(guī)模和性質(zhì)等方面的微觀差異,面臨的資本約束力不同,基于各個(gè)商業(yè)銀行是否上市其所處的融資環(huán)境以及面臨的挑戰(zhàn)也有所差別,對(duì)貨幣政策反應(yīng)也具有差異性。最后,本文還給出了政策建議。
[Abstract]:The global financial crisis of 2008 showed the power of the unstable financial system, which also made the community pay more and more attention to the risk of banks. In fact, bank risk is affected by many factors, but monetary policy and capital supervision are two important factors that can not be ignored. With the deepening of the process of global financial integration and the acceleration of the pace of financial innovation, the micro-behavior of banks under capital supervision has become relatively independent from the economic environment under the control of external monetary policy. Banks are influenced by both micro-regulation and macro-monetary policy. Whether it is to maintain the overall stability of the economy, for the better, or for the sake of maintaining financial stability, we should attach importance to the coordination of monetary policy and capital regulation. Taking monetary policy and capital supervision as two influencing factors, it is necessary to consider the role of capital supervision in the study of the traditional bank risk affected by monetary policy. In this paper, monetary policy indicators, which are both relevant and comparative, are studied and analyzed. On the basis of the influence of monetary policy on banks' risk-taking, this paper mainly considers the influence of capital supervision on the banking risk-bearing channels of monetary policy, and then considers the influence of listing factors, because listed financing has a great influence on the capital level of banks. Therefore, this paper also analyzes the impact of bank listing. This paper is divided into five parts as follows: the first part introduces the importance and necessity of considering the interaction between monetary policy and capital supervision in the study of bank risk, explains the background and significance of this research, and summarizes monetary policy. The present situation of research on the relationship between capital supervision and bank risk. The second part is a theoretical study, which introduces the mechanism of monetary policy risk-bearing channels and the mechanism of considering the interaction between monetary policy and capital supervision to provide theoretical analysis for empirical research. The third and fourth parts are the empirical model setting and empirical results analysis respectively. At the same time the robustness test is carried out to replace the commonly used monetary policy indicators to illustrate the robustness of this conclusion. The fifth part is the conclusion and the suggestion, mainly aiming at the capital supervision, the second consideration is the influence of the listed financing on the bank risk bearing channel of the monetary policy. The main conclusions of this paper are as follows: first, monetary policy has an important impact on the risk bearing of banks, and its influence depends on the microcosmic characteristics of banks. Secondly, the microcosmic characteristics of commercial banks have strong correlation with the effect of monetary policy, especially the influence of capital situation. The sensitivity to monetary policy is essentially the ability to counteract monetary policy. Banks with different microcosmic characteristics have different capabilities. For example, the larger the size of banks, the stronger the capital adequacy. Third, although commercial banks face the same capital supervision, they face different capital binding forces based on their respective micro differences in size and nature. Based on whether commercial banks are listed in the financing environment and the challenges they face, there are also differences in the response to monetary policy. Finally, policy suggestions are given.
【學(xué)位授予單位】：吉林大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F822.0;F832.1

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