影子银行对中小商业银行经营绩效影响研究

发布时间：2018-04-26 22:21

本文选题：影子银行 + 中小商业银行　；参考：《安徽大学》2017年硕士论文

【摘要】：随着对2007-2009年金融危机爆发原因的深入研究,影子银行被认为是幕后推手而受到社会各界的广泛关注。不同于国际社会一般定义的影子银行,我国的影子银行的产生与发展有其特定的原因,主要是对金融监管的突破与创新,既包括外部影子银行机构,也包括商业银行内部影子银行业务。近年来影子银行规模迅速扩大,在支持实体经济和提高资源配置效率上发挥了显著作用,但影子银行透明度低、缺乏监管等固有特征决定着其不断壮大的背后隐藏着巨大的金融风险,一系列影子银行违约事件的发生也已经引起了监管层的高度关注。中小商业银行(指全国性股份制商业银行和城市商业银行)一直是我国金融改革的领头羊,虽然规模较小,但是经营灵活、敢于创新,市场份额不断扩大,在服务地方经济、服务中小企业方面发挥了重要作用。随着金融脱媒和利率市场化改革的基本完成,银行业的竞争将会更加激烈。因此,在国有大型银行和影子银行机构双重挤压的背景下,研究中小商业银行如何在挑战中抓住机遇转型创新、提高经营绩效就显得格外重要。我国的影子银行与传统商业银行体系有着密切的联系,对中小商业银行经营绩效的影响是一把双刃剑:积极作用是外部影子银行机构的金融创新能力能够对中小商业银行起到很好的示范作用,而且商业银行为规避监管部门的严格监管,将资金由表内转移到表外创新的影子银行业务也能够获取监管套利、扩大中间业务收入;消极作用主要是影子银行作为金融创新的产物,从事与银行类似的存贷款业务,其服务对象也多为中小企业,会直接与中小商业银行展开竞争,削弱其贷款定价能力。更为重要的是,影子银行的资金来源与商业银行盘根错节,一旦发生流动性危机会将风险迅速传递至传统银行部门,甚至会引发系统性风险,威胁整个金融体系的稳定。在研究过程中,本文将理论研究和实证分析相结合。首先,详细阐述了影子银行的概念,深入分析了当前我国影子银行的发展现状及中小商业银行的绩效评价方法,在理论上探讨影子银行对中小商业银行可能产生的影响。结果发现,影子银行通过分流效应、激励效应和风险积聚效应分别影响中小商业银行的传统业务、中间业务和经营风险,最终影响经营绩效。其次,根据对影子银行的界定,我们测算出了 2003-2015年影子银行的规模,并经过对比分析采用EVA回报率来度量中小商业银行的经营绩效,通过建立面板数据模型,对前述理论研究进行了实证检验。回归结果表明,当前我国影子银行的相对规模对中小商业银行经营绩效的影响存在阈值效应,其关系可用倒"U"型曲线来描述。当影子银行的相对规模低于34.47%时,将有利于提高中小商业银行经营绩效,超过这一拐点时则起抑制作用。当前我国影子银行的相对规模已经达到57.11%,远超过阈值,潜在的风险不容忽视。根据上述结论,我们认为政府应当完善监管体系,继续加强对影子银行的监管,适当控制影子银行的相对规模。同时建议中小商业银行完善风险管理机制,加快业务转型,以提升自身价值创造能力。
[Abstract]:With the in-depth study of the causes of the outbreak of the 2007-2009 year financial crisis, the shadow bank is considered to be a behind the curtain and has received extensive attention from all walks of life. Unlike the general definition of the shadow bank in the international community, the emergence and development of the shadow banks in our country have its specific reasons. Shadow banking institutions, including the shadow banking within commercial banks, have expanded rapidly in recent years to play a significant role in supporting the real economy and improving the efficiency of resource allocation. However, the low transparency of the shadow bank and the lack of regulatory characteristics determine the huge financial risks behind its growth. The occurrence of a series of shadow banking defaults has also aroused the attention of the regulatory layer. Small and medium-sized commercial banks (national joint-stock commercial banks and urban commercial banks) have always been the leading sheep of our financial reform. Although they are small, they are flexible in operation, dare to innovate, market share is expanding, and serve the local economy. With the basic completion of the financial disintermediation and the reform of the interest rate marketization, the competition of the banking industry will be more intense. Therefore, in the background of the double extrusion of the state-owned large banks and the shadow banking institutions, it is studied how the small and medium commercial banks can seize the opportunity and innovate and improve their performance in the challenge. The effect is very important. The shadow banking of our country has a close relationship with the traditional commercial bank system. The influence on the performance of the small and medium commercial banks is a double-edged sword: the positive effect is that the financial innovation ability of the external shadow banking institution can play a good demonstration role to the small and medium commercial banks, and the commercial bank is to avoid it. The strict supervision of the supervision department, the shadow banking business that transfers the funds from the table to the outside of the table can also obtain the regulatory arbitrage and expand the middle business income. The negative effect is that the shadow bank is the product of the financial innovation, and is engaged in the similar deposit and loan business with the bank, and its service objects are mostly small and medium enterprises, which will be directly and medium and small. The commercial banks are competing to weaken their loan pricing ability. More importantly, the source of the funds of the shadow bank and the commercial banks are at the wrong level. Once the liquidity crisis occurs, the risk will be quickly transferred to the traditional banking sector, which may even lead to systemic risk and threaten the stability of the whole financial system. The research and empirical analysis are combined. First, the concept of shadow banking is elaborated in detail, the current development status of shadow banking in China and the performance evaluation method of small and medium commercial banks are deeply analyzed, and the possible influence of shadow bank on small and medium commercial banks is discussed in theory. The effect of the risk accumulation effect on the traditional business of small and medium-sized commercial banks, intermediate business and management risk, and ultimately affect the performance. Secondly, according to the definition of the shadow bank, we calculated the size of the shadow bank for 2003-2015 years, and compared and analyzed the EVA rate of return to measure the performance of small and medium-sized commercial banks. The regression results show that there is a threshold effect on the impact of the relative size of the shadow bank on the operating performance of small and medium commercial banks in China, and the relationship can be described by the inverted "U" curve. When the relative size of the shadow bank is below 34.47%, it will be beneficial to the improvement. At present, the relative scale of the small commercial banks overtakes the inflection point. The relative scale of the shadow banks in China has reached 57.11%, far beyond the threshold, and the potential risks can not be ignored. According to the above conclusion, we think the government should improve the supervision system, strengthen the supervision of the shadow bank and properly control the shadow banking. At the same time, it is suggested that small and medium commercial banks should improve their risk management mechanism and speed up their business transformation so as to enhance their own value creation ability.

【学位授予单位】：安徽大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.33

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