金融学院知识库

资产质量是商业银行的生命线，资产质量的影响因素历来受到众多学者的关注。在当下后疫情时代，商业银行贷款面临风险暴露的压力，而秉持ESG发展理念的金融机构在自身业务及声誉上获得了可持续回报，展现出了相当强的抗风险能力。践行ESG理念作为商业银行重要命题之一，是否为商业银行改善资产质量、创新业务模式提供了新的视角？因此，本文考察ESG责任对资产质量的影响，具有一定的理论和现实意义。
本文的研究结合文献分析法和实证研究法，首先对国内外有关文商业银行ESG、金融创新、资产质量的献进行梳理，根据外部性理论、协同治理理论、声誉理论、代理成本理论、企业竞争力评价理论，构建出ESG责任、金融创新与资产质量间的理论分析和作用机制框架，并基此提出实证假说。以A股上市商业银行2015-2020年的定量数据为样本，构建计量模型，初步检验履行ESG责任对上市商业银行资产质量的影响，在此基础上，进一步考察了金融创新的中介作用和产权性质的异质性影响，得出以下结论：一是商业银行履行ESG责任会对资产质量水平发挥积极作用，控制其他变量相对稳定时，ESG评价越好，商业银行资产质量水平越高，同时金融创新在影响中起到中介作用；二是与央企性质的商业银行相比，非央企性质的商业银行，ESG责任对提升资产质量的积极作用更显著。本文进一步丰富了ESG领域的研究，同时扩增了商业银行资产质量影响因素的研究。
最后，根据上述结论，本文提出政策建议：商业银行在经营管理中不仅仅要加强自身ESG责任建设，还要推动整个社会有更好的ESG建设；商业银行应该充分认识到履行ESG责任是立足长远建立竞争优势的必然选择，在履行ESG责任时，依据自身经营需要，尽力而为，追求长期可持续的ESG投入；要将ESG责任履行纳入到金融创新体系中，通过履行ESG责任发挥金融创新的积极作用，通过金融创新提升履行ESG责任的能力。

Asset quality is the lifeline of commercial banks, and the factors influencing asset quality have traditionally received the attention of many scholars. In the current post-epidemic era, commercial banks' loans are under pressure of risk exposure, while financial institutions upholding the ESG development concept have gained sustainable returns in their own business and reputation, demonstrating considerable risk resistance. Does practicing ESG philosophy as one of the important propositions for commercial banks provide a new perspective for improving asset quality and innovating business models? Therefore, this paper examines the impact of ESG responsibility on asset quality with certain theoretical and practical significance.
This paper combines normative and empirical research methods, firstly, it composes the relevant domestic and international literature, analyzes externality theory, collaborative governance theory, reputation theory, agency cost theory, and enterprise competitiveness evaluation theory, constructs a theoretical analysis framework between ESG responsibility and asset quality, and proposes an empirical hypothesis based on this. Taking the data of A-share listed commercial banks division from 2015-2020 as the sample, we construct an econometric model to initially test the impact of fulfilling ESG responsibility on the asset quality of listed commercial banks, based on which, we further examine the mediating role of financial innovation and the heterogeneous impact of the nature of property rights, and draw the following conclusions: first, the fulfillment of ESG responsibility by commercial banks will play a positive role on the level of asset quality, controlling other variables are relatively stable, the better the ESG evaluation, the higher the bank's asset quality level, while financial innovation plays a mediating role in the impact; second, compared with commercial banks of central enterprise nature, the positive effect of ESG responsibility on improving asset quality is more significant for commercial banks of non-central enterprise nature. This paper further enriches the research in the field of ESG, and at the same time expands the research on the factors influencing the asset quality of commercial banks.
Finally, based on the above findings, this paper puts forward policy recommendations: commercial banks should not only strengthen their own ESG responsibility construction in operation and management, but also promote better ESG construction in the whole society; commercial banks should fully recognize that fulfilling ESG responsibility is an inevitable choice to build competitive advantages based on the long term, and do their best in fulfilling ESG responsibility according to their own operation needs, and pursue long-term sustainable ESG investment; to incorporate ESG responsibility fulfillment into the financial innovation system, play an active role in financial innovation through ESG responsibility fulfillment, and enhance the ability of ESG responsibility fulfillment through financial innovation.