Study On The Risk-Taking Capacity Of Commercial Banks And The Efficiency Of Inclusive Finance

Inclusive finance,mainly serving small and medium sized enterprises,is a financial form that plays an inclusive role on the basis of the original financial system.Not equivalent to financial charity or financial policy poverty alleviation,the development of inclusive finance is by no means a temporary short-term behavior.Strengthening the empirical research on the efficiency of inclusive finance in the banking industry is related to how to promote high-quality development,and whether the far-reaching layout of the country’s inclusive finance strategy.can be realized.In the process of building a multi-level and extensive financial supply system,commercial banks are duty bound to play a leading role,especially in the implementation of policies to vigorously develop inclusive finance.Risk control and efficiency improvement are not only two major problems to be weighed in the operation and management of commercial banks,but also the purpose of central banks to maintain financial stability and promote economic development.The research on the risk-taking capacity of commercial banks focuses on bank security management;studying the efficiency of inclusive finance focuses on the profitability management of banks,which is the guarantee for the sustainable development of inclusive financial business of banks.How to grasp the relationship between the two,we should timely adjust the idea of inclusive banking development according to the changes in the macro environment,fully combine theoretical empirical research with actual financial data,and explore ways and means to optimize inclusive banking services.This paper firstly uses Data Envelopment Analysis(DEA)to measure the inclusive financial technical efficiency index and Malmquist productivity change index of 61 commercial banks in China from June 2017 to June 2021.Secondly,the calculated inclusive financial comprehensive efficiency,pure technical efficiency and scale efficiency are taken as the explanatory variables,and the bank risk bearing capacity index is taken as the explanatory variable.The panel model is used for the basic linear regression test to test whether there is a linear relationship between the bank risk bearing capacity and the three efficiency indicators.The test results are not robust,so we continue to use panel model for nonlinear regression test.However,the test results are still unstable.Based on the conflict between efficiency and risk,it is speculated that the impact of bank risk bearing capacity on inclusive financial efficiency may have a critical level,and the relationship between variables on both sides of the critical value may be opposite,that is,there may be a threshold effect.Finally,a threshold regression model is constructed to test the threshold regression and a robust conclusion is obtained.The main research conclusions are as follows:Firstly,the comprehensive efficiency of inclusive finance in the banking industry shows a trend of continuous improvement.Empirical measure analysis is made on the efficiency of inclusive finance in banking industry.The static efficiency measurement results show that the inefficiency of commercial banks’ inclusive financial comprehensive efficiency is more due to the inefficiency of pure technical efficiency.When guiding the development of inclusive finance loans,we should avoid extensive expansion and avoid blindly pursuing the large scale.We should pay attention to risk management and strictly control the non-performing rate of inclusive finance loans in the development process.The dynamic evaluation results of the Malmquist index of inclusive financial efficiency show that the inclusive financial efficiency of China’s commercial banks has shown an overall trend of improvement.Technological progress has a considerable impact on total factor productivity.If we want to improve the efficiency of inclusive finance,we should pay special attention to the use of high-tech.Secondly,there is no monotone linear relationship between commercial banks’ risk bearing capacity and inclusive financial efficiency indicators.It can be inferred that there is not a simple linear relationship between the risk-taking capacity of banks and the pure technical efficiency and scale efficiency of bank inclusive finance,but a non-linear relationship may be presented.Thirdly,there is a "U-shaped" curve relationship between the risk bearing capacity of commercial banks and the comprehensive efficiency and pure technical efficiency of inclusive finance,and an "inverted U-shaped" curve relationship between the scale efficiency of inclusive finance,and there is a single threshold.It can be specifically explained as follows:First,there is a U-shaped asymmetric curve relationship between the risk-taking capacity of commercial banks and the comprehensive efficiency of inclusive finance.When the proxy variable of the risk-taking capacity of commercial banks is less than the threshold value,the U-shaped curve is relatively wide,and the improvement of the risk-taking capacity of commercial banks can slowly reduce the comprehensive efficiency of inclusive finance.When the proxy variable of the risk-taking capacity of commercial banks is greater than the threshold value,the U-shaped curve will be relatively narrow,and the improvement of the risk-taking capacity of commercial banks can quickly improve the comprehensive efficiency of inclusive finance.Second,there is a U-shaped asymmetric curve relationship between the risk-taking capacity of commercial banks and the pure technical efficiency of inclusive finance.When the proxy variable of the risk-taking capacity of commercial banks is less than the threshold value,the U-shaped curve is relatively wide,and the improvement of the risk-taking capacity of commercial banks can slowly reduce the pure technical efficiency of inclusive finance.When the proxy variable of the risk-taking capacity of commercial banks is greater than the threshold value,the U-shaped curve will be relatively narrow,and the improvement of the risk-taking capacity of commercial banks can quickly improve the pure technical efficiency of inclusive finance.Third,there is an inverted U-shaped curve relationship between risk-taking capacity of commercial banks and scale efficiency of inclusive finance.When the Z value of the proxy variable of the risk-taking capacity of commercial banks is less than the threshold value,the U-shaped curve is relatively wide,and the improvement of the risk-taking capacity of commercial banks can slowly improve the scale efficiency of inclusive finance.When the z-value of the proxy variable of the risk-taking capacity of commercial banks is greater than the threshold value,the U-shaped curve will be relatively narrow,and the improvement of the risk-taking capacity of commercial banks can quickly reduce the scale efficiency of inclusive finance.Finally,the relationship between the risk-taking capacity of commercial banks and inclusive financial efficiency indicators is divided into four influence intervals.During the empirical period of this paper,0.73%of the current Z value are in the first range,0.18%of the current Z value are in the second range,8.56%of the current Z value are in the third range,and 90.53%of the current Z value are in the fourth range.Therefore,it can be considered that at least 99.09%of the current Z value is at the stage when the commercial banks’ risk bearing capacity can greatly improve the comprehensive efficiency of inclusive finance.This improvement is mainly due to the improvement of pure technical efficiency,and most of the time the scale efficiency is in an inefficient state.This paper puts forward policy suggestions from four aspects.Strengthen risk refined management and grasp "four intervals" and "two risk safety boundary points".Improve the macro environment for inclusive financial development and build a joint force to enhance the risk bearing capacity of the banking industry.Strengthen the combination of financial technology and promote the improvement of the pure technical efficiency of inclusive finance.Build a solid foundation for the development of the banking industry of different scales,and establish a hierarchical development path that takes advantage of each bank’s strengths.The contribution of this paper is mainly reflected in the following aspects:On the one hand,the index value of inclusive financial efficiency of commercial banks has been basically restored objectively and comprehensively.This paper spent a lot of effort on sample collection,manually collected and screened 299 commercial banks’ annual reports,social responsibility reports and environmental,social and regulatory reports with a frequency of half a year from 2017 to 2021,and finally obtained the loan balance data and various financial indicators of 61 commercial banks’ inclusive small and micro enterprises.Data envelopment analysis is used to calculate the development efficiency index value of commercial banks’ inclusive finance,and to analyze and compare the dynamic and static efficiency of different types of bank financial institutions.On the other hand,from the perspective of sustainable development of inclusive finance,the relationship between the risk-taking capacity of commercial banks and the development efficiency of inclusive finance is deeply discussed and analyzed.Through linear panel model test,nonlinear panel model test,nonlinear threshold regression model test,layer by layer analysis and repeated verification,this paper concludes that there is a single threshold asymmetric nonlinear relationship between explanatory variables and explained variables.