金融创新、公允价值计量与商业银行股票崩盘风险
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引用本文:杨鹏1,2.金融创新、公允价值计量与商业银行股票崩盘风险[J].财经理论与实践,2019,(3):59-64
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杨鹏1,2 (1.山西财经大学 会计学院,山西 太原030006 2.太原学院 经济与贸易系山西 太原030032) 
中文摘要:选取我国沪深两市A股上市商业银行作为研究对象,利用2007—2017年年报数据,实证研究金融创新对商业银行股票崩盘风险的影响。在此基础上,以公允价值计量作为中介变量研究其在金融创新对商业银行股票崩盘风险影响中的作用机理。研究发现:金融创新与商业银行股票崩盘风险负相关,公允价值计量在其中发挥部分中介效应的同时也增加了商业银行股票崩盘风险。在当前鼓励创新和防范化解重大金融风险的背景下,应当大力提倡金融创新,通过公司治理和内部控制来规范公允价值计量的使用。
中文关键词:金融创新  公允价值计量  崩盘风险  中介效应
 
Financial Innovation, Fair Value Measurement and Stock Crash Risk of Commercial Banks
Abstract:In this paper, we use the A-share listed commercial banks of Shanghai and Shen zhen stock markets as the research object, and use the annual report data from 2007 to 2017. We empirically study the impact of financial innovation on the stock market crash risk of commercial banks. On this basis, the fair value measurement is used as an intermediary variable to study the mechanism of its effect on the risk of stock crash of commercial banks by financial innovation. The results show that financial innovation is negatively related to the risk of stock crash in commercial banks, and the fair value measurement has a significant intermediary effect and increases the risk of stock crash of commercial banks. In the current context of encouraging innovation and preventing and resolving major financial risks, we should vigorously promote financial innovation and standardize the use of fair value measurement through corporate governance and internal control.
keywords:financial innovation  fair value measurement  crash risk  intermediary effect
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