中国商业银行资本结构与经营绩效关系实证研究

发布时间：2018-03-27 07:36

本文选题：商业银行　切入点：资本结构　出处：《首都经济贸易大学》2013年硕士论文

【摘要】：企业的资本结构是指企业各种资本的价值构成和比例关系，它集中体现了企业相关利益者间的权利与义务。对于企业而言，资本构成直接影响企业的经营与发展。现代公司财务理论表明，企业的资本结构决定了企业的融资成本，同时由于债权人和股东对公司的控制权问题，资本结构最终决定企业的价值和所处的风险水平，影响公司的绩效。确定合理的资本结构有利于企业健康、持续、高效发展。资本结构理论认为，企业的资本结构对于其经营绩效有两方面的影响:一方面，资本结构直接影响其融资成本和融资风险;另一方面，企业的资本结构，尤其是股权结构决定了其治理结构，而不同的治理结构又会影响企业的经营绩效。商业银行是经营货币商品的特殊企业，其资本结构具有特殊性，商业银行除了产权资本外，，还可拥有一定比例的非产权资本，既债务资本。因此其资本结构对经营绩效的影响也具有与一般工商企业不同的特殊性。资本是商业银行经营的基础和风险保证，银行的资本结构对于实现商业银行的财务目标和稳健经营起着至关重要的作用。对于商业银行资本结构与经营绩效关系问题的研究，不仅可以从资本结构角度出发找出提高我国商业银行经营绩效的途径和适宜采取的措施，从而提升商业银行的经营效率和竞争力，而且还可以为进一步有效推进金融体制的改革，促进中国银行业的健康、高效发展提供合理的依据和相应的政策建议。本文从商业银行经营原则中的盈利性与安全性角度出发来衡量商业银行的经营绩效，并根据《巴塞尔协议》定义的商业银行资本，探讨商业银行的资本结构对其经营绩效产生的影响。商业银行资本结构主要通过两种途径对其经营绩效产生影响:一种是通过影响商业银行的资本成本直接影响其经营绩效，另一种是通过影响公司治理结构间接的影响其经营绩效。文章首先对本文研究涉及的理论基础进行了综述，回顾了国内外相关文献的主要内容，对银行资本结构与经营绩效间的关系进行了理论分析。接着从我国商业银行经营绩效和资本结构的现状出发，简要分析了目前存在的缺陷和不足。然后在此基础上，利用我国10家商业银行2002年一2011年的面板数据，建立多元线性回归模型，用SPSS软件进行统计分析，通过回归结果探讨商业银行资本结构对经营绩效的影响。用总资产收益率作为商业银行盈利能力的衡量依据，用不良贷款率作为资产质量管理能力的衡量依据。最后，结合我国商业银行资本结构的现状与实证分析所得到的结果，提出优化我国商业银行资本结构及提高商业银行经营绩效的政策建议。
[Abstract]:The capital structure of an enterprise refers to the value composition and proportion relationship of various kinds of capital of an enterprise, which embodies the rights and obligations among the relevant stakeholders of the enterprise. The modern corporate financial theory shows that the capital structure of the enterprise determines the financing cost of the enterprise, and at the same time, because of the problem of the creditor and shareholder's control over the company, the modern corporate finance theory shows that the capital structure determines the financing cost of the enterprise. The capital structure ultimately determines the value and the risk level of the enterprise, and affects the performance of the company. It is beneficial to the healthy, sustainable and efficient development of the enterprise to determine the reasonable capital structure. The capital structure of an enterprise has two influences on its operating performance: on the one hand, the capital structure directly affects its financing cost and financing risk; on the other hand, the capital structure of an enterprise, especially the equity structure, determines its governance structure. And the different governance structure will affect the business performance of the enterprise. Commercial banks are special enterprises dealing with monetary commodities, and their capital structure is special. In addition to property capital, commercial banks can also have a certain proportion of non-property capital. Therefore, the influence of capital structure on business performance is different from that of general business enterprises. Capital is the foundation and risk guarantee of commercial banks. The capital structure of the bank plays an important role in the realization of the financial goal and steady operation of the commercial bank, and the study on the relationship between the capital structure and the operating performance of the commercial bank. Not only can we find out the ways and measures to improve the management performance of commercial banks in China from the perspective of capital structure, so as to enhance the operational efficiency and competitiveness of commercial banks. It can also provide reasonable basis and corresponding policy advice for further promoting the reform of financial system, promoting the healthy and efficient development of China's banking industry. This paper measures the performance of commercial banks from the point of view of profitability and security in the principles of commercial banks' operation, and defines the capital of commercial banks according to the Basel Accord. This paper probes into the influence of the capital structure of commercial banks on their operating performance. The capital structure of commercial banks mainly affects their operating performance through two ways: one is the direct influence on their operating performance by influencing the capital cost of commercial banks. The other is through the influence of corporate governance structure indirectly affect its business performance. First of all, the theoretical basis of this study is summarized, and the main contents of relevant literature at home and abroad are reviewed. This paper makes a theoretical analysis of the relationship between the capital structure and the operating performance of the banks, and then, starting from the present situation of the management performance and capital structure of the commercial banks in China, briefly analyzes the defects and deficiencies existing at present. Using panel data of 10 commercial banks in China from 2002 to 2011, a multivariate linear regression model is established, and the statistical analysis is carried out with SPSS software. This paper discusses the influence of capital structure of commercial banks on business performance through regression results. The total return rate of assets is used as the basis for measuring commercial banks' profitability, and the ratio of non-performing loans as the basis for measuring asset quality management ability. Finally, Based on the present situation of the capital structure of Chinese commercial banks and the results of empirical analysis, the paper puts forward some policy suggestions on optimizing the capital structure of Chinese commercial banks and improving the management performance of commercial banks.
【学位授予单位】：首都经济贸易大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.33

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