资本结构对中国上市银行经营绩效的影响分析
发布时间：2019-05-19 19:07
【摘要】：2008年发生并席卷全球的金融危机，暴露出现行的银行资本监管国际规则存在的一系列内在缺陷，既未能有效警示和防范系统性风险，也未能有效充分吸收危机期间的损失。为此，，巴塞尔委员会于2010年12月发布了“巴塞尔协议Ⅲ”，并于在韩国举行的G20峰会上获得正式批准实施。对此，中国银监会发布了更加严格的中国版“巴塞尔协议Ⅲ”——《商业银行资本管理办法(试行)》，新规对商业银行资本结构提出了更高的要求，并已于2013年1月1日开始实施。新规的实施，导致金融监管准则的调整和重组，不仅必然影响银行的发展战略目标，而且影响银行的资本结构，经营模式和经营规模与绩效。正是基于这一背景考虑，本文意图通过探讨，就资本结构是否影响银行的经营绩效，以及如何影响经营绩效给予理论说明。 本文以资本结构对中国上市银行经营绩效的影响为选题，采用2006年至2011年十四家上市银行的年度数据作为样本，实证分析了资本结构对于银行经营绩效的影响。力图探求资本结构与经营绩效的相关性及影响程度，进而寻求优化资本结构，提高经营绩效的路径与方法。 论文第一、二部分为理论分析。在归纳梳理国内外学者相关理论的研究成果及评价的基础上，分析了商业银行资本结构与经营绩效的相关理论，着重分析股权结构、债权结构及权益资本与债务资本比例对经营绩效的影响，为后面的研究提供理论支撑。 第三部分主要从权益资本和债务资本的比例关系、股权结构和附属资本三个角度来分析了中国上市银行资本结构的现状；从盈利能力和安全性两个方面分析中国上市银行经营绩效现状。为后面的实证分析奠定事实基础。 第四部分为实证分析，通过实证分析，得出的结论是：中国上市银行的经营绩效与第一大股东持股比例、资产负债率负相关；中国上市银行的经营绩效与前五大股东持股比例之和、第一大股东国有性质及附属资本占核心资本比例正相关。 第五部分为结论与建议。在实证分析结果的基础上，结合中国银行业实际状况，针对上市银行的资本结构优化和经营绩效的提高，提出了以下对策建议：第一，优化上市银行的股权结构：适当减少第一大股东的持股比例，使前五大股东持股比例之和保持在较高水平，同时尽量保持国家控股。第二，优化上市银行债权结构：使资产负债率保持在合理的范围内，增加附属资本的比重，同时使附属资本结构多元化，拓展附属资本的融资渠道。第三，优化上市银行外部环境：加强对银行的监管力度，完善中国债券市场。
[Abstract]:The financial crisis that occurred and swept the world in 2008 exposed a series of inherent defects of the current international rules of bank capital supervision, which failed to effectively warn and guard against systemic risks, and failed to fully absorb the losses during the crisis. To this end, the Basle Committee issued the Basle III Agreement in December 2010 and was formally approved for implementation at the G20 Summit in South Korea. In this regard, the China Banking Regulatory Commission has issued a stricter version of the Chinese version of "Basel III"-measures for the Capital Management of Commercial Banks (for trial implementation). The new rules put forward higher requirements for the capital structure of commercial banks. It was implemented on January 1, 2013. The implementation of the new rules leads to the adjustment and reorganization of financial supervision standards, which will inevitably affect not only the development strategic objectives of banks, but also the capital structure, business model, business scale and performance of banks. It is based on this background that this paper intends to give a theoretical explanation on whether the capital structure affects the operating performance of banks and how it affects the operating performance. This paper takes the influence of capital structure on the operating performance of listed banks in China as the topic, and takes the annual data of 14 listed banks from 2006 to 2011 as samples to empirically analyze the impact of capital structure on the operating performance of Chinese listed banks. This paper tries to explore the correlation and influence degree between capital structure and operating performance, and then seeks the way and method to optimize capital structure and improve operating performance. The first and second parts of the paper are theoretical analysis. On the basis of summing up and combing the research results and evaluation of the relevant theories of scholars at home and abroad, this paper analyzes the related theories of capital structure and operating performance of commercial banks, with emphasis on the analysis of ownership structure. The influence of creditor's rights structure and the ratio of equity capital to debt capital on operating performance provides theoretical support for the following research. The third part mainly analyzes the present situation of the capital structure of listed banks in China from three angles: the proportional relationship between equity capital and debt capital, the ownership structure and subsidiary capital. This paper analyzes the present situation of operating performance of listed banks in China from two aspects of profitability and security. It lays the factual foundation for the following empirical analysis. The fourth part is the empirical analysis, through the empirical analysis, the conclusions are as follows: the operating performance of listed banks in China is negatively correlated with the proportion of the largest shareholders, asset-liability ratio; The operating performance of listed banks in China is positively correlated with the proportion of the top five shareholders, the state-owned nature of the largest shareholder and the proportion of affiliated capital to core capital. The fifth part is the conclusion and suggestion. On the basis of empirical analysis, combined with the actual situation of China's banking industry, in view of the optimization of capital structure and the improvement of operating performance of listed banks, the following countermeasures and suggestions are put forward: first, Optimize the ownership structure of listed banks: properly reduce the proportion of the largest shareholders, so that the sum of the top five shareholders to a higher level, while trying to maintain state holding. Second, optimize the creditor's rights structure of listed banks: keep the asset-liability ratio within a reasonable range, increase the proportion of subsidiary capital, diversify the subsidiary capital structure, and expand the financing channels of subsidiary capital. Third, optimize the external environment of listed banks: strengthen the supervision of banks, improve the bond market in China.
【学位授予单位】：西南政法大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.3
本文编号：2480987
[Abstract]:The financial crisis that occurred and swept the world in 2008 exposed a series of inherent defects of the current international rules of bank capital supervision, which failed to effectively warn and guard against systemic risks, and failed to fully absorb the losses during the crisis. To this end, the Basle Committee issued the Basle III Agreement in December 2010 and was formally approved for implementation at the G20 Summit in South Korea. In this regard, the China Banking Regulatory Commission has issued a stricter version of the Chinese version of "Basel III"-measures for the Capital Management of Commercial Banks (for trial implementation). The new rules put forward higher requirements for the capital structure of commercial banks. It was implemented on January 1, 2013. The implementation of the new rules leads to the adjustment and reorganization of financial supervision standards, which will inevitably affect not only the development strategic objectives of banks, but also the capital structure, business model, business scale and performance of banks. It is based on this background that this paper intends to give a theoretical explanation on whether the capital structure affects the operating performance of banks and how it affects the operating performance. This paper takes the influence of capital structure on the operating performance of listed banks in China as the topic, and takes the annual data of 14 listed banks from 2006 to 2011 as samples to empirically analyze the impact of capital structure on the operating performance of Chinese listed banks. This paper tries to explore the correlation and influence degree between capital structure and operating performance, and then seeks the way and method to optimize capital structure and improve operating performance. The first and second parts of the paper are theoretical analysis. On the basis of summing up and combing the research results and evaluation of the relevant theories of scholars at home and abroad, this paper analyzes the related theories of capital structure and operating performance of commercial banks, with emphasis on the analysis of ownership structure. The influence of creditor's rights structure and the ratio of equity capital to debt capital on operating performance provides theoretical support for the following research. The third part mainly analyzes the present situation of the capital structure of listed banks in China from three angles: the proportional relationship between equity capital and debt capital, the ownership structure and subsidiary capital. This paper analyzes the present situation of operating performance of listed banks in China from two aspects of profitability and security. It lays the factual foundation for the following empirical analysis. The fourth part is the empirical analysis, through the empirical analysis, the conclusions are as follows: the operating performance of listed banks in China is negatively correlated with the proportion of the largest shareholders, asset-liability ratio; The operating performance of listed banks in China is positively correlated with the proportion of the top five shareholders, the state-owned nature of the largest shareholder and the proportion of affiliated capital to core capital. The fifth part is the conclusion and suggestion. On the basis of empirical analysis, combined with the actual situation of China's banking industry, in view of the optimization of capital structure and the improvement of operating performance of listed banks, the following countermeasures and suggestions are put forward: first, Optimize the ownership structure of listed banks: properly reduce the proportion of the largest shareholders, so that the sum of the top five shareholders to a higher level, while trying to maintain state holding. Second, optimize the creditor's rights structure of listed banks: keep the asset-liability ratio within a reasonable range, increase the proportion of subsidiary capital, diversify the subsidiary capital structure, and expand the financing channels of subsidiary capital. Third, optimize the external environment of listed banks: strengthen the supervision of banks, improve the bond market in China.
【学位授予单位】：西南政法大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.3
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