金融经济学研究

基于4家国有上市银行和5家股份制上市银行2008²016年绿色信贷余额与总资产收益率等数据,运用系统GMM回归方法分析了商业银行绿色信贷与其竞争力之间的关系,并考察了内外部政策对其影响。结果表明,商业银行绿色信贷能够有效提高总资产收益率,综合考虑不良贷款率、总资产等控制变量时,绿色信贷对商业银行竞争力相对提升效果更为明显;内外部政策的实施均对商业银行竞争力产生了促进作用,且内外部政策的综合作用大于单一政策的作用;考虑政策作用时,绿色信贷对竞争力的促进作用较不考虑政策时有一定程度的降低,这并不说明政策的无效,而是与绿色信贷自身特点、实施成本、政策时滞等因素有关。因此,政府要完善相关法律、法规;商业银行应有条件地执行绿色信贷政策。

This paper employed the system generalized method of moments( GMM) regression method to analyze the relationship between green credit and the competitiveness of commercial banks. It used data on the balance of green credit and total asset yield from four state-owned listed banks and five joint-stock listed banks from 2008 to 2016. This paper also investigated the influence of internal and external policies on this relationship. The results show that green credit offered by commercial banks can effectively raise total asset yield. The effect of green credit on competitiveness becomes more apparent when non-performing loan rates,total assets,and other such variables are taken into account. The implementation of both internal and external policies has promoted the competitiveness of commercial banks; the combined effect of internal and external policies is greater than that of a single policy. The effect that green credit has on promoting competitiveness is weaker when it is part of a policy; this does not mean that the policy is ineffectual. Instead,it may mean that the characteristics of green credit,implementation costs,policy lags,and other such factors are also playing a role. The conclusion is that the government should improve relevant laws and regulations,and commercial banks should implement green credit policies.