我国商业银行理财产品收益影响因素研究

发布时间：2018-05-11 21:29

本文选题：理财产品 + 实际收益　；参考：《云南财经大学》2013年硕士论文

【摘要】：随着我国商业银行理财产品业务规模不断扩大、种类不断创新丰富，购买商业银行理财产品已经成为我国居民重要的不可或缺的投资理财方式，也是我国专业化集合投资理财的重要组成。近几年随着金融创新的推进、投资者风险收益偏好的变化以及经济金融环境的改变，我国商业银行理财产品出现了何种与以往不同的变化？此外，近几年多家银行的多款理财产品出现零收益甚至负收益，这不仅给投资者带来经济损失而且也严重损害了商业银行声誉，那么，究竟有哪些因素影响着银行理财产品收益，它们又如何影响的呢？这都是需要进行深入研究的问题。本文首先对国外相关经典理论及国内近期相关研究文献进行了梳理，在此基础上，介绍了商业银行理财产品的相关概念，并分析了不同要素对理财产品风险收益的影响；随后，本文对2009至2012年发行的外币理财产品及人民币理财产品按不同要素分别进行了详细的数理统计分析，并总结出趋势变化。其次，本文从风险性和流动性及商业银行综合理财能力三个方面分别分析了其对理财产品收益的影响。接着，本文运用计量经济学方法，以我国商业银行理财产品为对象建立模型对影响其实际收益的因素进行了实证分析，并对实证结果进行了说明和分析。最后在对全文进行总结基础上分别针对商业银行及客户投资者提出建议。通过研究，本文得到以下结论：（1）金融危机以后，随着经济金融市场环境及对商业银行理财产品业务监管环境的改变，人民币和外币理财产品的要素特征也发生了不同变化，主要表现在委托存续期限趋短、投资基础资产转变等方面；（2）银行理财产品的实际年化收益率与同期固定存款利率、存续期限、信托业务模式、非保本及浮动型收益存在正相关，，与外汇、基础资产风险、信托及QDII以外的其他投资业务模式（主要指银行直接投资业务模式）负相关，此外还与银行综合理财能力也存在显著相关。
[Abstract]:With the expansion of the business scale and the variety of the commercial bank financial products, the purchase of the commercial bank financial products has become an important and indispensable way of investment and financial management. Also is our country specialized collective investment management important composition. In recent years, with the promotion of financial innovation, the change of investors' risk return preference and the change of economic and financial environment, what kind of changes have appeared in the financial products of commercial banks in our country as compared with the past? In addition, in recent years, a number of financial products of many banks have shown zero or even negative returns, which not only bring economic losses to investors but also seriously damage the reputation of commercial banks. What factors affect the financial products of banks, and how do they affect it? These are issues that need to be studied in depth. This paper firstly combs the foreign relevant classical theories and the domestic recent related research literature, on this basis, introduced the commercial bank financial management product related concept, and analyzed the different factor to the financial management product risk income influence; then, In this paper, the foreign currency financial products and RMB financial products issued from 2009 to 2012 are analyzed in detail according to different factors, and the trend changes are summarized. Secondly, this paper analyzes the influence of financial products from three aspects: risk, liquidity and comprehensive financial management ability of commercial banks. Then, using the econometrics method, this paper sets up a model to analyze the factors that affect the real income of the commercial banks' financial products in China, and explains and analyzes the empirical results. Finally, on the basis of summing up the full text, respectively for commercial banks and customer investors put forward suggestions. After the financial crisis, with the changes of the economic and financial market environment and the regulatory environment of the commercial banks' financial products, the characteristics of the elements of RMB and foreign currency financial products have also changed. The real annualized rate of return of bank financial products is positively related to the fixed deposit interest rate, the life span, the trust business model, the non-capital preservation and the floating income. It has negative correlation with foreign exchange, risk of basic assets, trust and other investment business models other than QDII (mainly direct investment business model of banks), and also has significant correlation with comprehensive financial management ability of banks.
【学位授予单位】：云南财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.2

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