Based on the bounded rationality of behavioral finance theory, this paper puts managerial optimism into the relationship between economic uncertainty and bank

risktaking from the perspective of behavioral finance. Using the quarterly data of Chinese commercial Banks from 2008 to 2017, this paper examines the relationship between economic uncertainty, managerial optimism and bank risktaking through the twostage regression of intermediary effect. The results of the study showed as follows: The increasing of economic uncertainty can restrain the psychological deviation of managerial optimism. Managerial optimism will increase the risk of Banks. In the process of the impact of economic uncertainty on bank risktaking, at least in part by “intermediary channel of managerial optimism”, and the intermediary effect of managerial optimism is manifested as the “masking effect”. Further research shows that market discipline plays a moderating role in the relationship between economic uncertainty and bank risktaking, and the moderating effect is at least partly mediated through the managerial optimism channel.

economic uncertainty , managerial optimism , risktaking , intermediary effect