非利息收入及其构成对我国上市银行绩效的影响研究

发布时间：2018-09-05 18:18

【摘要】：在西方主流商业银行纷纷将非利息收入作为重要的收入来源时,我国商业银行由于其本身体制的原因,对存贷利差带来的净利息收入的依赖性很强,对发展非利息业务的意识还不够。然而近年来,我国利率市场化的进程加快、金融脱媒化程度加深、资本约束加强、银行业之间的竞争也更为激烈。因而我国传统的以利息收入为主的盈利模式遭受到了前所未有的挑战。迫于利差收窄的压力,我国商业银行纷纷选择进行收入结构转型,采取措施大力发展非利息收入业务。然而非利息收入的拓展是否就有助于提升商业银行的经营绩效,是值得进一步研究的问题。关于非利息收入对商业银行绩效的影响,国外的学者研究的比较深入,而我国由于非利息业务起步较晚,国内学者对于这个问题的研究还不够成熟。尽管近几年也有不少学者研究非利息收入对银行绩效的影响,但是国内学者并没有得出一个统一的结论。而关于非利息收入结构对银行绩效影响的问题,目前很少有学者对此进行深入研究。本文就在前人研究的基础上,将上市银行分为国有控股银行、全国性股份制银行、上市城市商业银行,进一步研究非利息收入不同组成部分对上市银行绩效的影响。本文主要分为七个部分。第一部分为绪论。这一部分主要是阐述本文的选题背景、选题意义、研究思路和结构、研究方法和本文创新点进行阐述,以明确本文的研究对象。本文研究的方法主要是比较分析法和实证分析法。首先对国有控股银行、全国性股份制商业银行、上市城市商业银行的非利息收入发展现状进行对比分析,然后以股权收益率为被解释变量,研究非利息收入及其组成部分对其绩效的不同影响。第二部分是对非利息收入相关理论和文献的阐述。这部分首先从金融创新理论、范围经济理论、多元化理论的角度对有关非利息收入发展的理论基础进行阐述。然后对国内外相关文献进行梳理。国外对于非利息收入对银行绩效的研究主要存在两个观点,因此本文就积极影响和消极影响两个角度分别进行综述；国内对于非利息收入的研究并不够成熟,并且也没有形成统一的观点,所以本文从定性分析、定量分析的角度分别对国内文献进行综述。第三部分是对非利息收入的简要概述。主要是对非利息收入的概念进行了总结和界定,本文结合我国实际情况,将非利息收入分为手续费及佣金净收入、投资损益、汇兑损益、公允价值变动损益以及其他业务收入。为了更加清晰的界定非利息收入的概念,本章对非利息收入、中间业务收入、表外业务收入这三个概念进行了比较和区分。最后,又进一步通过对非利息收入的特点、非利息收入及其组成部分的波动性、非利息收入与净利息收入的相关系数来对非利息收入进行进一步的说明,加深对非利息收入的理解。本章得出的结论为非利息收入增长率的波动性大于净利息收入,非利息收入组成部分增长率波动性从高到底依次为：投资损益、汇兑损益、公允价值变动损益、其他业务收入、手续费及佣金净收入。非利息收入与净利息收入存在一定的正向关关系,手续费及佣金与净利息收入存在显著的正相关关系,而投资损益、汇兑损益、公允价值变动损益与净利息收入负相关。因此纯粹的提高非利息收入未必就能分散银行的经营风险,银行应该合理的安排非利息收入的结构。第四部分为我国非利息收入发展背景与现状。首先从利率市场化、综合经营程度加深、金融脱媒化进程加快、金融监管的压力四个方面说明我国近年来非利息收入发展的背景原因。然后从非利息收入占比情况、非利息收入组成结构情况、手续费及佣金构成的情况,分别比较研究了国有控股银行、全国性股份制商业银行、上市城市商业银行非利息收入发展的现状。主要结论为我国非利息收入迅速增长但是占比仍然较低,净利息收入仍然是我国银行业的主要收入来源。手续费及佣金净收入为非利息收入的主要组成部分,其他非利息收入占比相对较低,不同银行手续费及佣金净收入结构差异比较大。第五部分为实证研究。主要是以14家上市银行2007-2012年的季度数据为样本,通过构建面板数据模型并进行回归分析,分为两步分别研究了非利息收入及其各组成部分对我国上市银行绩效的影响。首先,将样本分为国有控股银行、全国性股份制银行、上市城市商业三组,选取了资产规模的对数、贷款规模、GDP的对数作为控制变量。研究了非利息收入对其股权收益率的影响。得出的结果是三组样本非利息收入的系数都为正,但是结果并不显著。然后,本章进一步将非利息收入分为手续费及佣金净收入、投资损益、汇兑损益、公允价值变动损益、其他业务收入来研究不同组成部分对银行绩效的影响。得出的结论为,国有控股银行手续费及佣金净收入与银行绩效有显著的正向关系。全国性股份制银行和上市城市商业银行其他业务收入与银行绩效有显著的正向关系。其他组成部分的结果不显著。最后,通过对产生这些结果的原因进行初步探究,为下一章提出相应的政策建议做出了一定的铺垫。第六部分为发展非利息收入的一些相关建议。主要是结合我国上市商业银行非利息收入的发展现状以及本文的实证结果,对国有控股银行、全国性股份制银行、上市城市商业银行,从非利息收入占比、非利息收入结构、手续费及佣金收入结构这三个不同的层面提出相应的政策建议。从提高非利息收入占比的方法来看,国有控股银行应该借助规模优势,继续走综合化经营的道路,建立起混业经营的平台,以实体经济为依托,坚持“走出去”的方针。而全国性股份制银行则可以引入战略伙伴,进一步拓展非利息收入。上市城市商业银行由于区域化的特征比较明显,规模较小,不能要求其将非利息收入占比提高到国有控股银行同样的水平,而是应该以社区银行为定位,在发展传统的利息收入的同时,以交叉销售的方式适当的提高非利息收入占比。对于非利息收入结构这块,国有控股银行应该进一步的增加手续费及佣金净收入占比,在投资收益这块要引入大量人才进行风险控制。此外也要借助人民币国际化的机会,大力拓展汇兑收益。对于全国性股份制银行和上市城市商业来说,应该继续发挥在投资收益上的优势,在汇兑损益这块业务上应该采取谨慎的态度,不能盲目扩张。至于其他非利息业务,股份制银行也可以通过和非金融机构合作的方式进一步拓展。本部分还提出了,要优化手续费及佣金收入结构的建议,具体从提高理财业务收入、优化结算与现金管理服务、加大资产托管业务创新力度、加强电子银行业务建设这四个方面进行了阐述。最后本章提出了对不同银行进行差别化监管的建议。第七部分为总结与展望。这一部分总结了本文的大致结论,提出了本文的一些不足和对未来研究方向的一些展望。指出未来可以进一步拓展样本,研究城市商业银行、农村商业银行、外资银行等非利息收入对银行绩效的影响。以后的研究还能将手续费及佣金收入进行进一步细分,研究不同部分对银行绩效的影响,此外,以后的研究还可以选取相应指标研究非利息收入对银行安全性、流动性的影响。本文的创新之处主要是在于本文进一步将非利息收入进行细分为手续费及佣金净收入、投资损益、汇兑损益、公允价值变动损益、其他业务收入五个部分,研究非利息收入不同组成部分对不同银行绩效的影响。而且本文对银行进行了分类研究,使得相关结论和政策建议更具有实用性。本文选取的是2007-2012年的季度数据,不仅使得非利息收入的统计口径较为统一,样本容量更大,可比性更高,使得结论更加准确,具有一定的创新性。. 本文的不足之处是关于上市城市商业的样本量仅为3个,由于本人无法获得其他城市商业银行比较完整的数据,就没将其他城市商业银行纳入样本中考虑。使得关于城市商业银行的样本结果可能不足以完全体现目前我国城市商业银行的所有情况。此外,由于篇幅有限,本文并没有进一步分析非利息收入及其组成部分对银行经营风险的影响,存在一定的缺憾。
[Abstract]:When the mainstream commercial banks in the West regard non-interest income as an important source of income, the commercial banks in our country depend heavily on the net interest income brought by the interest margin between deposit and loan because of the reasons of their own system, and are not aware of the development of non-interest business. With the deepening of industrialization, capital restraint and fiercer competition among banks, the traditional profit model based on interest income in China is facing unprecedented challenges. Whether the expansion of non-interest income will help to improve the operational performance of commercial banks is a question worthy of further study. The impact of non-interest income on the performance of commercial banks has been studied deeply by foreign scholars. However, due to the late start of non-interest business in China, domestic scholars are not mature enough to study this issue. Although many scholars have studied the effect of non-interest income on bank performance in recent years, domestic scholars have not come to a unified conclusion. However, few scholars have conducted in-depth study on the impact of non-interest income structure on bank performance. For state-owned holding banks, national joint-stock banks and listed city commercial banks, this paper further studies the impact of different components of non-interest income on the performance of listed banks.
The first part is the introduction. This part mainly elaborates the background, significance, research ideas and structure, research methods and innovation points of this paper to clarify the research object of this paper. The research methods of this paper are mainly comparative analysis and empirical analysis. This paper compares the development status of non-interest income of listed city commercial banks, and then studies the different effects of non-interest income and its components on their performance with the stock returns as explanatory variables.
The second part is the elaboration of the relevant theories and literature on non-interest income.This part first expounds the theoretical basis of the development of non-interest income from the perspective of financial innovation theory, scope economy theory and diversification theory. There are two points of view, so this paper reviews the positive and negative impact of the two perspectives respectively; domestic research on non-interest income is not mature enough, and did not form a unified view, so this paper reviews the domestic literature from the perspective of qualitative analysis and quantitative analysis.
The third part is a brief overview of non-interest income.It mainly summarizes and defines the concept of non-interest income.This paper divides non-interest income into service fees and commission net income,investment gains and losses,exchange gains and losses,fair value change gains and losses and other business income in order to define non-interest income more clearly. This chapter compares and distinguishes the three concepts of non-interest income, intermediate business income and off-balance-sheet business income. Finally, it further analyzes the characteristics of non-interest income, the volatility of non-interest income and its components, and the correlation coefficient between non-interest income and net interest income. This chapter draws the conclusion that the volatility of the growth rate of non-interest income is greater than that of net interest income, and the volatility of the growth rate of non-interest income components is in the following order: investment gains and losses, exchange gains and losses, changes in fair value gains and losses, other business income, handling fees and net Commission receipts. There is a positive correlation between non-interest income and net interest income, and there is a significant positive correlation between fees and commissions and net interest income, while investment gains and losses, exchange gains and losses, fair value changes and net interest income are negatively correlated. The structure of non interest income should be reasonably arranged.
The fourth part is the background and current situation of the development of non-interest income in China.Firstly, it explains the background of the development of non-interest income in recent years from four aspects: the marketization of interest rate, the deepening of comprehensive management, the acceleration of financial disintermediation and the pressure of financial supervision. This paper compares the non-interest income of state-owned holding banks, national joint-stock commercial banks and listed city commercial banks. The main conclusion is that the non-interest income of our country is increasing rapidly but the proportion is still low, and the net interest income is still the main source of income of our banking industry. Renewal fees and net commission income are the main components of non-interest income, other non-interest income is relatively low, and there is a big difference among different bank fees and net commission income structure.
The fifth part is an empirical study. This paper takes the quarterly data of 14 listed banks from 2007 to 2012 as a sample, constructs a panel data model and carries out regression analysis. It is divided into two steps to study the impact of non-interest income and its components on the performance of listed banks in China. The influence of non-interest income on stock returns is studied. The results show that the coefficients of non-interest income of the three groups are all positive, but the results are not significant. It is divided into commission and commission net income, investment gains and losses, exchange gains and losses, fair value change gains and losses, and other business income to study the impact of different components on bank performance. There is a significant positive relationship between other business income and bank performance. The results of other components are not significant. Finally, through a preliminary study on the causes of these results, the paper makes some suggestions for the next chapter.
The sixth part is some suggestions on the development of non-interest income. It mainly combines the development status of non-interest income of listed commercial banks in China and the empirical results of this paper. For state-owned holding banks, national joint-stock banks, listed city commercial banks, from the proportion of non-interest income, non-interest income structure, fees and commission income. From the perspective of increasing the proportion of non-interest income, state-owned holding banks should continue to take the road of comprehensive operation, establish a platform for mixed operation, rely on the real economy, and adhere to the policy of "going out". Listed city commercial banks can not be required to raise the proportion of non-interest income to the same level as state-owned holding banks because of their obvious regional characteristics and small scale, but should be positioned as community banks, while developing traditional interest income, to cross-cutting. For the non-interest income structure, the state-owned holding banks should further increase the percentage of handling fees and net Commission income, and introduce a large number of talents to control the risk in the investment income. In addition, they should take advantage of the opportunity of RMB internationalization to expand the exchange earnings. For national joint-stock banks and listed city businesses, they should continue to give play to their advantages in investment returns. They should be cautious and not expand blindly in exchange gains and losses. As for other non-interest businesses, joint-stock banks can also expand further through cooperation with non-financial institutions. Finally, this chapter puts forward some suggestions on how to optimize the structure of commission and commission income, including raising the revenue of financial management, optimizing the settlement and cash management services, increasing the innovation of asset custody business, and strengthening the construction of electronic banking business.
The seventh part is a summary and outlook. This part summarizes the general conclusions of this paper, puts forward some shortcomings of this paper and some prospects for future research. It points out that future samples can be further expanded to study the impact of non-interest income such as urban commercial banks, rural commercial banks, foreign banks on bank performance. It can also further subdivide the Commission and commission income to study the impact of different parts on bank performance. In addition, future research can also select the corresponding indicators to study the impact of non-interest income on bank security and liquidity.
The main innovation of this paper is that it further divides non-interest income into five parts: Commission and commission net income, investment gains and losses, exchange gains and losses, fair value change gains and losses, and other business income. This paper selects the quarterly data from 2007 to 2012, which not only makes the non-interest income statistical caliber more uniform, sample size larger, comparability higher, makes the conclusion more accurate, and has a certain degree of innovation.
The disadvantage of this paper is that the sample size of the listed city commercial banks is only three, because I can not get the relatively complete data of other city commercial banks, I did not take other city commercial banks into consideration in the sample. In addition, due to the limited space, this paper does not further analyze the impact of non-interest income and its components on the operational risk of banks, there are some shortcomings.
【学位授予单位】：西南财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.33

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