Variable type

Variable symbol

Variable meaning

Variable calculation method

Dependent variable

L O A N G i , t

Loan growth rate

(Total loans of the current year - total loans of the previous year)/Total loans of the previous year

C R E D I T G i , t

Credit growth rate

(Total credit of the current year - total credit of the previous year)/Total credit of the previous year

Independent variable

C A P i , t 1

Capital adequacy ratio

Capital/Risk assets

L I Q i , t 1

Liquid assets ratio

Liquid assets/Total assets

Bank characteristic variables

A S S E T i , t 1

Bank size

Natural logarithm of total assets

R O A A i , t 1

Bank profit

Net income/Total assets mean value at the beginning of the year and at the end of the year

L O S S R E i , t 1

Loan loss reserve ratio

Loan loss reserves/Total loans

N O N L O A N i , t 1

Non-performing loan ratio

Non-performing loans/Total loans

Macro control variables

Δ G D P t

Changes in GDP growth rate

(GDP growth rate of the current year - GDP growth rate of the previous year)/GDP growth rate of the previous year

Δ S H I t

Changes in market interest rates

(Overnight interbank offered rate of the current year - Overnight interbank offered rate of the previous year)/Overnight interbank offered rate of the previous year