多元化能降低银行风险吗？——来自中国上市银行的经验证据

基于中国上市银行四维多元化指标的构建和归纳，应用动态面板GMM模型对收入、地域、资产和非传统业务活动多元化与银行风险之间的关系进行实证研究发现：收入、资产和非传统业务活动的多元化有助于降低银行风险，且国有银行获得的多元化收益多于中小银行；但在地域多元化方面，国有银行的地域多元化反而可能导致风险提高，而中小银行的地域多元化则更有利于分散和降低风险。

Can Diversification Reduce Bank Risk?--Empirical Evidence from Chinese Listed Banks

Based on the construction and summarization of a four-dimensional diversified index of Chinese listed banks, we conducted empirical research on the relationship between revenue, geographic, asset and non traditional activity diversification and bank risk by dynamic panel data GMM model, and found that revenue, asset and non-traditional activity diversification could help to reduce the bank risk. Moreover, the state-owned banks achieved more diversification benefit than small and medium banks. But in the area of geographic diversification, the state-owned banks may lead to increased risk with the rising level of geographic diversification, while the small and medium banks could spread and reduce risk with the rising level of geographic diversification.