我国信托业市场结构对绩效影响的实证研究

发布时间：2018-01-19 07:05

本文关键词： 信托业市场结构市场绩效　出处：《华中科技大学》2013年硕士论文　论文类型：学位论文

【摘要】：我国信托业受益于自身的制度优势、灵活的业务模式、经济的持续高增长和市场改革的不断深化等因素，经过三十年的发展已具有一定的规模。2012年信托资产规模首次超过了保险业的资产规模，在全国金融部门的排名仅仅落后于银行业。但与美国、日本等发达国家相比，我国信托业的覆盖范围还很小，信托公司可持续性的经营模式尚未形成、新产品开发能力有待加强、相关的法规有待进一步的细化完善，这些都会涉及信托业未来的发展方向，对信托业市场结构的改善和绩效的提高都有一定的影响。本文在市场结构和市场绩效相关理论的基础上，先分析我国信托业市场结构和绩效的现状，，以25家信托公司为代表，采用因子分析法对信托公司绩效进行评价研究。再选取相应的衡量信托业市场结构和绩效的指标，建立多元线性回归，研究我国信托业市场结构对绩效的影响，来探究我国信托业现阶段市场结构符合哪种假说和对信托业绩效影响较大的市场结构因素，进而针对实证结果对我国信托业如何提高绩效、增强核心竞争力以及未来稳定健康的发展提出合理的建议。本文的实证检验研究发现：市场份额越大会有利于我国信托业绩效水平的提高；员工的素质和教育水平一定程度上决定着信托公司的产品创新能力和业务拓展能力；资产负债率虽然和绩效存在着负相关关系，但对市场绩效的影响并不明显，可能是信托公司自身投资管理、风险管理能力要得到外界的认同还需时日；作为影响信托公司市场绩效的宏观经济因素，在较高的显著性水平下，年平均市场贷款利率对绩效有较高的影响作用。
[Abstract]:China's trust industry benefits from its own institutional advantages, flexible business model, sustained high economic growth and deepening of market reform and other factors. In 2012, the size of trust assets exceeded that of the insurance industry for the first time, and the ranking of the national financial sector was only behind that of the banking sector. But with the United States. Compared with Japan and other developed countries, the scope of trust industry in China is still very small, the sustainable business model of trust companies has not yet formed, the ability of new product development needs to be strengthened, and the relevant laws and regulations need to be further refined and improved. All these will involve the future development direction of the trust industry and have certain influence on the improvement of the market structure and the performance of the trust industry. Based on the theory of market structure and market performance, this paper first analyzes the current situation of trust market structure and performance in China, with 25 trust companies as the representative. Factor analysis method is used to evaluate the performance of trust companies. Then select the corresponding indicators to measure the market structure and performance of the trust industry, establish multiple linear regression, and study the impact of trust market structure on the performance of our country. To explore the current market structure of the trust industry in China which is consistent with the hypothesis and the impact on trust industry performance of the market structure factors, and then the empirical results on how to improve the performance of our trust industry. Strengthen the core competitiveness and the future stable and healthy development to put forward reasonable suggestions. The empirical study of this paper finds that: the market share of the Congress is conducive to the improvement of the performance level of the trust industry in China; To a certain extent, the quality and education level of employees determine the ability of product innovation and business expansion of the trust company; Although there is a negative correlation between asset-liability ratio and performance, but the impact on market performance is not obvious, it may be the investment management of trust company itself, and risk management ability needs to be recognized by the outside world. As a macroeconomic factor affecting the market performance of trust companies, the average annual market loan interest rate has a higher impact on performance at a higher significant level.
【学位授予单位】：华中科技大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.49

【相似文献】