关键词:

地理扩张, 银行系统性风险, 资产相似性

Abstract:

As the most important financial intermediary in China’s financial system, the effectiveness of the diversification strategy adopted by banks to reduce the systemic risk of individual banks is an important topic in theory and practice. This paper systematically discusses the impact of cross-regional expansion of banking business on banking systemic risk for the first time. Using the data of Chinese listed commercial banks, it is found that there is a significant positive correlation between the geographical expansion of banking business and banking systemic risk, that is, there exists an obvious “geographical expansion systemic risk” effect. The conclusion is still valid in the robust test using the “Adjustment Opinions on Market Access Policies for Urban Commercial Bank Branches” as a natural experiment. Further research shows that the impact of geographical expansion of listed banking business on bank systemic risk is mainly carried out through the channel of inter-bank asset similarity. The higher the degree of bank asset similarity, the greater the bank systemic risk presents. In addition, this paper finds that the “geographical expansion systemic risk” effect mainly exists in banks head quartered in central cities, with high distribution in central cities, and low equity concentration. The research results of this paper bring relatively new empirical evidence for confirming the systemic risk brought by the excessive expansion of listed banks and have important reference value for the reform and practice of controlling and preventing banking systemic risk.

Key words:

geographical expansion, banking systemic risk, asset similarity