Abstract:

This essay divides Bank Finance Innovation into Reducing Project Monitoring Cost and Raising Investment Return Rate. It uses the methodology of Gambling Equilibrium in the circumstance of Wholescale Funding Market, combining with the methodology of Numerical Simulation, to explore the effect of the two types of Finance Innovation on Bank Risk-taking. The results show that, compared to the Finance Innovation of Raising Investment Return Rate, the Finance Innovation of Reducing Project Monitoring Cost is more effective to reduce Bank risk-taking, which is supported by panel data study. Moreover, the result gotten by Numerical Simulation shows that, at lower project revenues, the finance innovation of Reducing Project Monitoring Cost can reduce Bank Risk-taking (by increasing investment success rate), and that point us in the direction of promoting financial innovation.

摘要：

本文将银行金融创新分为降低项目监督成本和提高投资回报率两种类型，利用银行在批发性融资市场的博弈均衡模型并结合数值模拟技术，研究了两种类型金融创新对银行风险承担影响。研究结果显示：相比于提高投资回报率的金融创新，进行降低项目监督成本的金融创新对银行风险承担影响更大。面板数据的实证结果也支持上述结果。数值模拟结果进一步表明，当投资项目收益率较低时，进行降低监督成本的金融创新更有利于提高银行资金的使用效率，降低银行风险承担水平，这给我国推进金融创新指明了方向。