商业银行持续增长价值评估研究

发布时间：2018-01-04 22:33

本文关键词：商业银行持续增长价值评估研究　出处：《江苏大学》2017年硕士论文　论文类型：学位论文

【摘要】：伴随着的市场经济的开放程度越来越高,企业改制、重组、兼并的活动也越来越密集,这些活动都不可避免的需要了解、估算企业的内在价值,因此,持续性增长价值在市场经济中占有一席之地的角色。目前,商业银行面临金融业改革,市场经济萧条等环境,整体发展不容乐观,评估商业银行持续性增长价值能够了解现有商业银行的发展情况,对于投资者来说,是否需继续持有或者抛售股份,对于经营管理者来说,是否要改进经营管理策略,对债权人来说,是否需要取出存款或者改变存款期限和性质提供了指导意见。综上,商业银行持续性增长价值估算尤为重要。本文首先阐述了企业价值评估的四种方法的理论,结合商业银行的特殊性,最终选择了适用于商业银行持续性增长价值评估的EVA法并建立评估模型,其次,分析影响商业银行持续性增长价值的因素有哪些,从流动性、盈利性和安全性角度去考虑,并在三性下建立核心资本充足率、贷款质量比率、贷款损失准备充足率、流动比率、现金资产比率、净利润率等8个二级指标,指标的选择要尽可能的具有代表性,全面性,然后借鉴用熵值法得出各个指标的权重,有些指标值与商业银行持续性增长价值成正比,有些成反比,它们共同作用,直接影响了商业银行持续性增长价值,最后文章结合样本商业银行,运用EVA模型对其价值的评估并考虑价值持续性增长因素,得出国有银行的持续性增长价值是大于地方城市商业银行大于股份制商业银行,建议从影响商业银行持续性增长价值因素的盈利能力、市场规模、流动性和经营管理等多角度提升商业银行持续增长能力,为以后提升商业银行持续性增长价值提供了指导意见。本文构建商业银行的EVA模型,考虑商业银行特殊性,调整税后净营业利润、资本成本、加权平均资本成本率,使EVA评估模型能适用于商业银行持续性增长价值评估,这种评估模型的构建能够完善商业银行持续性增长价值评估理论,丰富我国现有评估方法文献,为以后评估商业持续性增长价值提供了参考。
[Abstract]:With the increasing openness of the market economy, enterprises reform, reorganization, merger activities are more and more intensive, these activities inevitably need to understand, estimate the intrinsic value of the enterprise, therefore. The value of sustained growth plays a role in the market economy. At present, commercial banks are facing the financial sector reform, market economy depression and other environments, the overall development is not optimistic. To assess the value of commercial banks' sustained growth can understand the development of existing commercial banks, for investors, whether to continue to hold or sell shares, for business managers. Whether to improve business management strategy, for creditors, the need to withdraw deposits or change the duration and nature of the deposit provides guidance. It is particularly important to estimate the value of sustained growth of commercial banks. Firstly, this paper expounds the theory of four methods of enterprise value evaluation, combined with the particularity of commercial banks. Finally, this paper chooses the EVA method which is suitable for commercial banks to evaluate the value of sustained growth and establishes the evaluation model. Secondly, it analyzes the factors that affect the value of sustained growth of commercial banks, from the liquidity. To consider profitability and security, and to establish the core capital adequacy ratio, loan quality ratio, loan loss reserve adequacy ratio, current ratio, cash assets ratio, net profit rate and other eight second-level indicators. The selection of indicators should be as representative and comprehensive as possible, and then draw on the entropy method to get the weight of each index. Some of the index values are directly proportional to the sustained growth value of commercial banks, and some are inversely proportional. Together, they have a direct impact on the value of sustained growth of commercial banks. Finally, this paper combines the sample commercial banks, using EVA model to evaluate its value and consider the factors of sustained growth of value. It is concluded that the value of sustained growth of state-owned banks is greater than that of local urban commercial banks. It is suggested that the profitability and market size of the factors affecting the sustained growth value of commercial banks should be discussed. Liquidity and business management to enhance the ability of commercial banks to sustain growth, for the future to enhance the value of sustained growth of commercial banks to provide guidance. This paper constructs a commercial bank EVA model. Considering the particularity of commercial banks, adjusting the net operating profit after tax, capital cost and weighted average capital cost ratio, the EVA evaluation model can be used to evaluate the value of commercial banks' sustained growth. The construction of this evaluation model can improve the evaluation theory of commercial banks' sustained growth value, enrich the existing literature of evaluation methods in our country, and provide a reference for the future evaluation of commercial sustained growth value.
【学位授予单位】：江苏大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F830.42;F832.33

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