我国信托业市场结构与绩效关系的实证研究

发布时间：2018-05-06 14:12

本文选题：市场结构 + 市场绩效　；参考：《山东大学》2013年硕士论文

【摘要】：信托业是目前唯一一个跨越货币市场、资本市场和实业投资市场的金融行业,至2012年年底,我国信托业实现了7.47万亿元的信托资产规模,超过了保险业的规模,当之无愧地成为近10年来发展最快的金融部门,跃升为仪次于商业银行业的具有第二大资产规模的金融行业。近期,证券、保险、基金等金融行业纷纷出台了一系列新的政策措施,极大地拓展了各行业的业务范围,使得其资产管理业务与信托业务之间产生了较强的替代性,信托的制度红利正被逐渐削减。因此,为更好的促进我国信托业快速、健康、可持续的发展,使之真正成为金融业的支柱产业,对其市场结构和绩效进行分析是大有裨益的。历经六次整顿后,我国信托市场总体是由整顿清理前的市场高度分散化、过度竞争逐步向现阶段的市场集中度提高、垄断趋势加强的局面发展。那近5年来，市场结构是如何变化的,这种变化和信托业市场绩效的提高是否存在着关联,关联程度的大小又如何,这都需要我们对此进行研究。本文基于产业组织理论,探讨我国信托业市场结构的现状、特点和问题,并就市场结构与市场绩效、信托公司企业绩效之间的关系进行实证分析,从而提出改善信托业市场结构的思路及对策,以提高信托业的市场竞争力,使其在越来越激烈的金融市场竞争中立稳脚跟。本文首先分析了我国信托业的市场结构,通过对市场份额、市场集中度、产品差异化程度和进入退出壁垒等影响因素的分析,描述了我国信托业在2007年至2011年间市场结构的变化和发展趋势。其次根据DEA方法选择合适的指标,求得我国信托公司的综合效率并进行横向和纵向比较,并从资源配置效率和技术进步角度讨论信托业的市场绩效,进而讨论市场结构与市场绩效之间的关系。最后根据信托业的实际情况,调整EVA的基本公式,求得信托公司的企业绩效,并根据采集的60家信托公司的面板数据建立计量模型,进行回归分析,对我国信托业市场结构对企业绩效的影响方式与程度进行分析。综合以上分析,本文认为,政府应成立专业的监管部门、完善信托业相关法律法规并促进信托业的竞争；信托公司则应积极创新信托产品、完善风险控制制度、并建立直销体系以增强其竞争力。
[Abstract]:The trust industry is the only financial industry spanning the money market , capital market and real estate investment market . By the end of 2012 , China ' s trust industry has achieved 7.47 trillion yuan of trust assets , exceeding the size of the insurance industry . It has become the second largest financial sector with the second largest asset scale in recent 10 years . Recently , the securities , insurance , fund and other financial sectors have issued a series of new policy measures , which has greatly expanded the business scope of the industry . Therefore , to better promote the fast , healthy and sustainable development of trust industry in our country , it has become the pillar industry of the financial industry , and it is of great benefit to analyze the market structure and performance .

After six rectification , the trust market in our country has been dispersed by the market in the former market , and over - competition gradually increases the market concentration of the present stage , and the monopoly trend is strengthened . In the past five years , we study the present situation , characteristics and problems of the market structure of trust industry .

This paper first analyzes the market structure of China ' s trust industry , and describes the change and development trend of China ' s trust industry from 2007 to 2011 . Secondly , according to the DEA method , we choose the appropriate index , then discuss the relationship between market structure and market performance . Finally , according to the actual situation of trust industry , the paper discusses the relationship between market structure and market performance . Finally , according to the actual situation of trust industry , the paper discusses the relationship between market structure and market performance . Finally , according to the actual situation of trust industry , the paper discusses the relationship between market structure and market performance .

Based on the above analysis , this paper holds that the government should set up a professional supervision department , perfect the relevant laws and regulations of trust industry and promote the competition of trust industry ;
Trust companies should actively innovate trust products , perfect the risk control system , and set up a direct sales system to enhance its competitiveness .

【学位授予单位】：山东大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.49

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