基于EVA的我国上市商业银行价值驱动因素探究

发布时间：2018-03-23 19:03

本文选题：上市商业银行　切入点：EVA　出处：《中国石油大学（华东）》2013年硕士论文

【摘要】：商业银行作为储蓄者和投资者之间的桥梁，在各国的经济体系中占有核心地位。目前我国共有16家上市银行，商业银行的发展正走向市场化和规模化，这为我国银行业的健康稳定发展扫除了体制上的障碍，也预示着银行业巨大的发展潜力。自2006年来，我国实现了银行业的全面开放，这给我国银行业带来了巨大的竞争和挑战。此后，2008年爆发的金融危机使全球经济陷入了活力不足的困境，中国经济也不可避免的受到一定的冲击。在这样的背景下，将商业银行价值最大化作为其经营管理的最终目标，已成为银行股东及其经营者的共识，银行的发展也从负债管理和资产管理阶段进入价值管理的新阶段，从传统意义上的如何增加市场份额、增加盈利逐步演化为如何增加股东价值。因此，本文引入了目前国际上广泛应用的经济增加值（Economic ValueAdded，以下简称EVA）评价方法，，构造出适合我国上市商业银行的测算公式，并进行测算和分析；进而在归纳总结上市商业银行价值评价方法以及价值驱动因素理论的基础上，将EVA指标层层分解，得出资产规模、资产质量、盈利能力、业务创新能力、成本费用管理能力、风险管理能力和治理结构七项影响因素；继而构造以EVA回报率为因变量，以总资产自然对数、净资产净利息率等15个指标为自变量的回归模型，采用向后剔除法，针对2005-2011年16家上市商业银行的数据进行测算和分析，得出实证结果。最后针对性的提出提高我国商业银行价值创造能力的对策与建议，以期为我国上市商业银行的发展提供一定的理论参考和实践指导。
[Abstract]:As a bridge between savers and investors, commercial banks play a central role in the economic systems of various countries. At present, there are 16 listed banks in China, and the development of commercial banks is moving towards marketization and scale. This has cleared away the institutional obstacles for the healthy and stable development of China's banking industry, and also indicated the huge development potential of the banking industry. Since 2006, China has realized the full opening of the banking industry. Since then, the financial crisis broke out in 2008 has brought the global economy into a difficult position of invigoration, and the Chinese economy has inevitably been hit by a certain degree of impact. Under this background, taking the value maximization of commercial banks as the ultimate goal of its management has become the consensus of the shareholders and their managers, and the development of banks has also moved from the stage of liability management and asset management to a new stage of value management. From the traditional sense how to increase market share and increase profits gradually evolved into how to increase shareholder value. Therefore, this paper introduces the economic added value added (EVA) evaluation method which is widely used in the world at present, constructs the calculation formula suitable for the listed commercial banks of our country, and carries on the calculation and analysis; Then, on the basis of summing up the value evaluation method and the theory of value driving factor of listed commercial bank, the paper decomposes EVA index layer by layer, and obtains asset scale, asset quality, profit ability, business innovation ability, cost and expense management ability. There are seven influencing factors of risk management ability and governance structure, and then a regression model with 15 indexes, such as natural logarithm of total assets and net interest rate of net assets as independent variables, is constructed, which takes EVA return rate as dependent variable, and adopts backward elimination method. This paper calculates and analyzes the data of 16 listed commercial banks from 2005 to 2011, and obtains the empirical results. Finally, it puts forward some countermeasures and suggestions to improve the value creation ability of Chinese commercial banks. In order to provide some theoretical reference and practical guidance for the development of listed commercial banks in China.
【学位授予单位】：中国石油大学（华东）
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.33;F830.42

【参考文献】