| With the deepening of rate marketization,financial disintermediation and intensive competition,the external environment of commercial banks has deeply changed.Therefore,banks have changed business models,they accelerate the financial market business and increase product innovation.The role of banks has changed from "traditional credit intermediary" to "integrated financial service provider".With the changes of funding sources and asset allocations,the asset-liability structure of commercial banks has changed.From the perspective of asset structure,the growth rate of credit scale has slowed down,the proportion of financial market business has increased.From the perspective of liability structure,the proportion of deposits has decreased,and active liabilities such as interbank borrowing and bond payable are increased.Under the new economic normal,it has become the overall development trend of the banking industry.The quality of asset-liability structure of banks directly affects its risk-taking.In the context of changes of asset-liability structure,it is of great significance to study the changes in the level of risk-taking.This paper studied from the overall perspective of the balance sheet.It firstly analyzed the characteristics and causes of the changes in the asset structure and liability structure,and then discussed the impact mechanism of asset-liability structure changes on its risk-taking.Next,an empirical test with GMM,using the financial data of the 16 listed commercial banks during the period 2009-2017.The results show that,commercial banks actively participating in financial market business and increasing interbank liabilities,will reduce their risk exposure.At the same time,state-owned banks and non-state-owned banks have heterogeneity,the changes in asset-liability structure of state-owned banks have reduced the risk more obviously.At last,this paper proposed recommendations from the perspective of commercial banks and regulatory authority. |
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