【活動(dòng)預(yù)告】人大國發(fā)院“理論與政策”研討會(huì)（第14期）
發(fā)布時(shí)間：2018-07-03Incentives, Information and Risk Taking：Evidence from Banking Lending In China
主?講：茍琴（中央財(cái)經(jīng)大學(xué)金融學(xué)院副教授）
時(shí)?間：2018年7月6日（周五）14:00-16:00
地?點(diǎn)：中國人民大學(xué) 崇德西樓（原科研樓A座）815會(huì)議室
Abstract：Following China’s entrance into the WTO, Chinese banks faced more competition from foreign financial institutions and the regulation authority (CBRC) strengthened risk regulation and supervision in commercial banks. These changes in market competition and regulation requirement offered plausibly exogenous shocks to the banking sector, and trigged a series of performance incentive policies on loan officers for many Chinese banks in order to improve competition and loan quality. This study aims to estimate the impact of performance incentives on risk-taking and lending decisions by employing a unique branch level dataset. We first show that performance incentives significantly decrease non-performing ratio (NPR), while explicit and implicate incentives, money and non-money based incentives generate different effects. Second, performance incentives lead to larger average loan size and lower origination to small and medium enterprises and credit loan, indicating more use of hard information and less of soft information in lending decisions. Third, performance incentives lead to shorter average loan maturity, indicating weaker motivation in risk-taking. Finally, effects of incentives varies according to the competitiveness of loan officers` salary, the internal communication cost and contract enforcement power. Our results highlight whether and how incentives affect risk-taking and information use in bank lending.
主講人簡介：
茍琴，中央財(cái)經(jīng)大學(xué)金融學(xué)院副教授，北京大學(xué)經(jīng)濟(jì)學(xué)博士，美國紐約大學(xué)訪問學(xué)者。主要研究領(lǐng)域包括國際金融、宏觀經(jīng)濟(jì)、實(shí)證銀行經(jīng)濟(jì)等。研究成果發(fā)表于China Economic Review，European Journal of Finance, China & World Economy等國際期刊以及《管理世界》、《世界經(jīng)濟(jì)》及《金融研究》等中文期刊。研究成果獲得《金融研究》年度優(yōu)秀論文、澳大利亞中國經(jīng)濟(jì)學(xué)會(huì)年會(huì)（CESA）最佳論文、中國新興經(jīng)濟(jì)體研究會(huì)優(yōu)秀論文等學(xué)術(shù)獎(jiǎng)項(xiàng)。
人大國發(fā)院教師與博士后事務(wù)部
2018年7月2日
