利率市场化对商业银行经营绩效的影响

发布时间：2018-04-29 16:47

本文选题：利率市场化 + 商业银行　；参考：《山东大学》2017年硕士论文

【摘要】：利率作为资金的价格,是现代金融体系最重要的经济变量之一。作为调控经济的重要手段,国家的宏观调控也经常利用利率的传导作用来实现其促进经济增长和稳定物价的目的。利率的发展趋势是市场化改革,而利率市场化背景下的利率波动会对金融工具、金融机构、金融市场甚至整个经济的发展造成非常重要的影响。从世界以及我国利率的发展进程上来看,利率经过了由政府管制到由市场决定的发展过程。1996年6月1日,中国人民银行放开了对于银行间同业拆借利率的管制,标志着我国利率市场化正式开始,之后的利率市场化改革也随着金融体制的改革不断走向纵深,今天我国央行对贷款利率和存款利率的管制都已经取消,存贷款利率可以在一定程度上加以浮动。在当今利率市场化改革背景下,利率作为影响商业银行绩效的关键变量,其变动对上市银行的经营绩效具有决定性的影响,因此研究上市银行的经营绩效势必绕不开利率市场化与利率波动的问题。在利率市场化改革的进程中,研究利率市场化与利率波动对于我国上市银行总体以及不同类型的商业银行经营绩效的不同影响,不仅有利于上市银行适应新背景下银行业总体的经营环境,积极借鉴同层次的商业银行的发展经验,高效地应对利率市场的不断波动,而且对于降低社会资金融通的摩擦成本,提升经济的运行效率,减少金融市场资源错配现象,具有十分重要的意义。本文选取了我国]6家上市商业银行2008-2015年的相关面板数据,运用了定性分析、定量分析以及比较分析相结合的分析方法研究了利率市场化与利率波动对上市商业银行经营绩效的影响。文章首先对利率市场化与利率波动条件下的样本银行总体的经营绩效进行了计量分析,然后将上市商业银行的数据分为四大国有银行、全国性股份制银行、城商银行三种类型,并分别进行了比较分析。最后根据实证分析的相关结果,提出了在利率市场化与利率波动的背景下不同类型的商业银行提高经营绩效的政策建议。研究结果表明:利率市场化系数R对样本银行总体的绩效指标总资产收益率ROA具有显著的正向影响,而且对城市商业银行的影响要比对四大国有银行以及股份制银行的影响更大。利率市场化系数R对样本银行总体以及城市商业银行的绩效指标不良贷款率NPL具有显著影响,且影响系数为负,而对于四大国有银行以及股份制银行影响并不显著。名义利差NS与样本银行总体、股份制银行、城商行的ROA都具有负相关的关系,与四大国有银行以及城商行的NPL也具有负相关的关系。然而研究结果也同时显示,名义利差NS对于四大国有银行的资产收益率以及股份制银行的不良贷款率并没有显著的影响。
[Abstract]:As the price of funds, interest rate is one of the most important economic variables in modern financial system. As an important means to adjust and control the economy, the national macro-control often uses the transmission of interest rate to achieve the purpose of promoting economic growth and stabilizing prices. The development trend of interest rate is marketization reform, and the fluctuation of interest rate under the background of interest rate marketization will have a very important impact on the development of financial instruments, financial institutions, financial markets and even the whole economy. From the point of view of the development of interest rates in the world and in China, interest rates have gone through a process of development from government regulation to market decisions. On June 1, 1996, the people's Bank of China liberalized the control of interbank lending rates. Marking the official beginning of interest rate marketization in our country, the interest rate marketization reform after that has also gone deep along with the reform of the financial system. Today, the central bank has abolished the control of the interest rate on loans and the interest rate on deposits. Interest rates on deposits and loans can be fluctuated to a certain extent. Under the background of interest rate marketization reform, interest rate, as a key variable affecting the performance of commercial banks, has a decisive impact on the operating performance of listed banks. Therefore, the study of the operating performance of listed banks is bound to go around the interest rate marketization and interest rate fluctuations. In the process of interest rate marketization reform, this paper studies the different influences of interest rate marketization and interest rate fluctuation on the overall performance of listed banks in China, as well as on the operating performance of different types of commercial banks. It is not only beneficial to the listed banks to adapt to the overall operating environment of the banking industry under the new background, to actively learn from the development experience of the commercial banks at the same level, but also to effectively cope with the constant fluctuations in the interest rate market, and to reduce the frictional cost of social capital financing. It is of great significance to improve the efficiency of economy and reduce the mismatch of financial market resources. This paper selects the relevant panel data of 6 listed commercial banks in China from 2008 to 2015, and applies qualitative analysis. Quantitative analysis and comparative analysis are combined to study the impact of interest rate liberalization and interest rate fluctuation on the operating performance of listed commercial banks. This paper first analyzes the overall operating performance of the sample banks under the conditions of interest rate liberalization and interest rate fluctuation, and then divides the data of listed commercial banks into four types: the state-owned banks, the national joint-stock banks and the City Merchants Bank. A comparative analysis was carried out respectively. Finally, according to the relevant results of empirical analysis, this paper puts forward some policy recommendations for different types of commercial banks to improve their operating performance under the background of interest rate liberalization and interest rate fluctuation. The results show that the interest rate marketization coefficient R has a significant positive effect on the total asset yield (ROA) of the sample banks. Moreover, it has more influence on the city commercial banks than on the big four state-owned banks and stock-holding banks. The interest rate marketization coefficient R has significant influence on the NPL of the sample banks and the city commercial banks' performance index, and the influence coefficient is negative, but it has no significant effect on the four state-owned banks and the joint-stock banks. The nominal spread NS has a negative correlation with the sample bank, the stock bank, the city commercial bank's ROA, and has the negative correlation with the four state-owned banks and the city commercial bank's NPL. However, the results also show that nominal interest rate NS has no significant effect on the return on assets of the four state-owned banks and the non-performing loan ratio of the joint-stock banks.
【学位授予单位】：山东大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.33;F832.5

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