Does liquidity regulation affect commercial banks' carbon bias? Evidence from China

IF 5.2 1区 经济学 Q1 ECONOMICS 中国经济评论 Pub Date : 2024-08-17 DOI:10.1016/j.chieco.2024.102253
Junxun Dai , Yan Liu , Wei Yuan , Xin Zou
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Abstract

This study demonstrates the influence mechanisms of liquidity regulation on banks' carbon bias through a simplified balance sheet model. Subsequently, we empirically analyze the impact of regulatory liquidity pressure on banks' carbon bias by using a sample of 213 Chinese commercial banks from 2009 to 2019. We find that liquidity regulation, which has a significant positive impact on banks' carbon bias, accounts for a 23% increase in the sample banks' aggregated carbon bias before and after the implementation due to the slow pace of decarbonization. Further, this effect becomes smaller when banks have lower initial reliance on stable funding or a lower capital adequacy ratio, and it is mainly found in state-owned, joint-stock, and urban commercial banks; banks with assets of no less than ¥200 billion; and during economic upturn periods. The main findings remain consistent after considering bank proactive liquidity management.

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流动性监管会影响商业银行的碳偏差吗?来自中国的证据
本研究通过简化的资产负债表模型,论证了流动性监管对银行碳偏好的影响机制。随后,我们以 2009 年至 2019 年的 213 家中国商业银行为样本,实证分析了流动性监管压力对银行碳偏好的影响。我们发现,流动性监管对银行碳偏好有显著的正向影响,由于去碳化步伐缓慢,流动性监管实施前后样本银行的碳偏好总量增加了 23%。此外,当银行初始对稳定资金的依赖程度较低或资本充足率较低时,这种影响会变小,主要出现在国有银行、股份制银行和城市商业银行;资产不低于 2000 亿日元的银行;以及经济上升期。在考虑了银行主动流动性管理后,主要结论仍然一致。
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来源期刊
中国经济评论
中国经济评论 ECONOMICS-
CiteScore
10.60
自引率
4.40%
发文量
380
期刊介绍: The China Economic Review publishes original works of scholarship which add to the knowledge of the economy of China and to economies as a discipline. We seek, in particular, papers dealing with policy, performance and institutional change. Empirical papers normally use a formal model, a data set, and standard statistical techniques. Submissions are subjected to double-blind peer review.
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