我国信托业效率测度及其主要影响因素的实证分析

发布时间：2018-01-12 12:30

本文关键词：我国信托业效率测度及其主要影响因素的实证分析　出处：《北京化工大学》2012年硕士论文　论文类型：学位论文

【摘要】：作为金融业四大支柱之一的信托业，在经过6次整顿后，明确了其经营主业，充分发挥自身可以横跨资本市场、实物市场和货币市场的优势，自2007年起迈入快速发展的道路，资产规模迅速扩张，人才队伍不断扩大，产品创新也逐渐丰富。与此同时也出现了行业内部的两极分化情况。提高信托公司经营效率是信托业发展的关键，也是在激烈的行业竞争中各公司的生存之道。因此，对信托公司的效率进行测度，量化各主要影响因素有利于指导信托公司改善经营状况，并为金融监管机构进行监管提供理论依据。本文在对国内外信托理论及金融机构效率研究进行梳理后，，结合我国信托业经营现状，依据控股股东不同将信托公司分为5大类别，并以2007—2010年间持续经营的49家信托公司为样本，使用数据包络法对信托公司的技术效率、规模效率、成本效率进行了测度，列出各家公司的相对效率，并指出效率较低公司的改进方向与规模。结果表明我国金融集团控股类信托公司的各项效率较高，而国有企业控股类公司效率明显偏低，且两极分化有日益拉大之势。为考察影响信托业效率的因素，本文立足于微观层面，使用面板数据的多元线性回归法，对于各主要影响因素进行了实证研究，得出人才质量、资产规模、收益能力对提高效率有显著的正向影响，而管理费用率则对效率有负向影响。最后，本文结合宏观、中观层面的影响因素，对于提高我国信托业效率提出了相应建议，包括完善社会信用体系，加强行业监管，优化企业治理结构等内容。
[Abstract]:As one of the four pillars of the financial industry, the trust industry, after six times of rectification, has made clear its main business, giving full play to its advantages, which can span the capital market, the physical market and the money market. Since 2007, it has stepped into the road of rapid development, with the rapid expansion of assets and the continuous expansion of the talent force. Product innovation is also gradually rich. At the same time, there is a polarization within the industry. To improve the operating efficiency of trust companies is the key to the development of the trust industry. It is also the survival of the companies in the fierce industry competition. Therefore, to measure the efficiency of trust companies and quantify the main factors are conducive to guide trust companies to improve their operating conditions. It also provides theoretical basis for financial supervision. After combing the research on trust theory and efficiency of financial institutions at home and abroad, this paper classifies trust companies into five categories according to the controlling shareholders' differences, combined with the current situation of trust industry management in China. The technical efficiency, scale efficiency and cost efficiency of the trust companies were measured by using data envelopment method based on 49 trust companies in the period of 2007-2010. The relative efficiency of each company is listed, and the improvement direction and scale of the inefficient company are pointed out. The result shows that the efficiency of the holding trust company of financial group in our country is higher. The efficiency of state-owned holding companies is on the low side, and polarization is increasing. In order to investigate the factors affecting the efficiency of trust industry, this paper based on the micro level, using panel data multiple linear regression method, for the main factors of empirical research, the quality of talent, asset size. Revenue ability has a significant positive impact on efficiency, while the overhead rate has a negative impact on efficiency. Finally, this paper combines macro and meso-level factors. Some suggestions are put forward to improve the efficiency of trust industry in China, including perfecting the social credit system, strengthening the supervision of the industry, optimizing the corporate governance structure and so on.
【学位授予单位】：北京化工大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.49;F224

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