基于成长能力理论的商业银行价值评估研究

发布时间：2018-04-06 07:39

本文选题：商业银行　切入点：成长能力　出处：《北京交通大学》2013年硕士论文

【摘要】：摘要：商业银行的成长,有着鲜明的行业特点,与其他企业不同,其主要的经营资产为货币,存款和贷款是其主要的业务。随着金融业的全面开放,外资银行陆续入驻大陆市场,银行间的并购、资产出售、资产重整日益频繁,对于价值的认识与评估则在银行的发展中扮演越来越重要的角色。怎么样确定商业银行股权价值评估是一个非常关键的问题,它将直接关系到我国金融业改革的顺利推进,并且还关系到我国金融业的长远发展。我国上市银行的价值评估理念在银行管理和投资分析中的推广和应用,选用恰当的价值评估方法的重要性不言而喻。当前对银行价值的评估,有很多方法,如市场法,成本法,收益法,但是这些方法只是局限于模型的运用,并不能结合企业成长的特点进行价值评估,也忽略了一些财务指标的作用。本文主要从企业成长理论的角度,对商业银行的成长影响因素进行分析,尝试建立影响其成长的主要指标体系,并利用几家有代表性的商业银行的历史数据得出各个指标的权重。在影响企业成长能力时,有作用大的因素,也有作用力小的因素,这些因素共同促进着商业银行的成长。从影响商业银行成长因素出发,根据其主要影响指标,选择商业银行的评估方法,并分析各方法的可行性,文中最终选择了剩余收益模型对商业银行进行价值的评估。剩余收益模型能够很好的结合各项财务指标,。最后文章结合剩余收益模型,以华夏银行为例,尝试用剩余收益模型对其价值的评估。并将评估结果与实际值相比较,说明剩余收益模型运用中可能存在的问题和应注意的因素。
[Abstract]:Absrtact: the growth of commercial banks has distinct industry characteristics. Unlike other enterprises, their main operating assets are currency, and deposits and loans are their main business.With the overall opening of the financial industry, foreign banks have gradually entered the mainland market, inter-bank mergers and acquisitions, asset sales, asset restructuring increasingly frequent, the understanding and evaluation of value in the development of banks play a more and more important role.How to determine the equity value evaluation of commercial banks is a very key issue, it will directly affect the smooth progress of the reform of the financial industry in China, and also related to the long-term development of the financial industry in China.The promotion and application of the concept of value evaluation of listed banks in bank management and investment analysis, the importance of choosing appropriate valuation methods is self-evident.At present, there are many methods to evaluate the value of banks, such as market method, cost method, income approach, but these methods are limited to the application of the model and can not be evaluated according to the characteristics of enterprise growth.It also ignores the role of some financial indicators.From the angle of enterprise growth theory, this paper analyzes the influencing factors of the growth of commercial banks, and tries to establish the main index system that affects the growth of commercial banks.And use the historical data of several representative commercial banks to get the weight of each index.When affecting the growth ability of enterprises, there are some factors which play a great role, but also have small forces. These factors promote the growth of commercial banks.Starting from the factors affecting the growth of commercial banks, according to its main impact indicators, this paper selects the evaluation methods of commercial banks, and analyzes the feasibility of each method. Finally, the residual income model is selected to evaluate the value of commercial banks.The residual income model can combine each financial index very well.In the end, the paper takes Huaxia Bank as an example and tries to evaluate its value with residual income model.The evaluation results are compared with the actual values to illustrate the possible problems in the application of the residual income model and the factors to be paid attention to.
【学位授予单位】：北京交通大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.33;F830.42

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