股权结构对中小银行价值影响的研究

发布时间：2018-04-20 05:40

本文选题：中小银行 + 股权结构　；参考：《中南大学》2013年硕士论文

【摘要】：摘要：随着公司治理理论的不断发展和完善,股权结构已成为公司治理的根本问题,越来越多的公司把其作为衡量公司价值的一个重要指标,以衡量公司经营、公司监管的绩效。但是现有关于股权结构与公司价值关系的研究主要集中在国外成熟资本市场中的上市公司或者行业,而针对我国商业银行的股权结构特别是中小银行的研究并不多见,并不能有效反映我国银行自身的独特性,在变量选取上也存在较大差异,缺乏系统性与代表性。因此,本文采用混合面板数据的多元线性回归模型对国内11家中小银行进行分析,在系统梳理国内外关于股权结构与银行价值研究的基础上,采用国内11家中小银行的季报数据,并选取相应的指标进行实证分析,结果表明：国有法人股比例、一般企业法人股比例、流通股比例、股权集中度中第一大股东持股比例和公司规模均与中小银行价值呈正相关关系；股权集中度指标中前五／十大股东持股比例之和、第一／五／十大股东对中小银行的控制能力和财务杠杆均与中小银行价值呈负相关关系；前五／十大股东持股比例的平方和则与银行的价值不存在显著关系。最后,依据实证结果对国内中小银行股权结构的优化和银行价值的提升提出了政策建议。
[Abstract]:Abstract: with the development and perfection of corporate governance theory, equity structure has become the fundamental problem of corporate governance. Corporate regulatory performance. However, the existing research on the relationship between equity structure and corporate value is mainly focused on listed companies or industries in foreign mature capital markets, but the research on equity structure of commercial banks in China, especially small and medium-sized banks, is rare. It can not effectively reflect the uniqueness of Chinese banks, and there are great differences in the selection of variables, lack of systematicness and representativeness. Therefore, this paper analyzes 11 small and medium-sized banks in China by using multiple linear regression model of mixed panel data, and systematically combs the research on equity structure and bank value at home and abroad. Using the quarterly data of 11 small and medium banks in China, and selecting the corresponding indicators for empirical analysis, the results show that: the proportion of state-owned legal personnel shares, the general corporate corporate shares, the proportion of circulating shares, The proportion of the largest shareholders and the size of the company are positively correlated with the value of the small and medium-sized banks, and the sum of the top five / ten shareholders in the index of the degree of ownership concentration, The control ability and financial leverage of the first / fifth / tenth shareholders to the small and medium-sized banks are negatively related to the value of the small and medium-sized banks, while the square sum of the first five / ten shareholders' shareholdings has no significant relationship with the value of the banks. Finally, based on the empirical results, the paper puts forward some policy recommendations on the optimization of equity structure and the promotion of bank value.
【学位授予单位】：中南大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.51;F832.3

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