招商银行资本结构与经营绩效关系研究

发布时间：2018-05-08 04:43

本文选题：招商银行 + 资本结构　；参考：《东北农业大学》2014年硕士论文

【摘要】：金融业是现代经济的核心和支柱,而商业银行又是现代金融体系的重要组成部分之一,商业银行的健康发展和稳定成长对一个国家的国民经济发展都起着至关重要的作用。随着全球经济的快速发展以及中国金融市场的开放程度的扩大,外资银行大量涌入我国市场,国内的商业银行遍地开花,我国的银行业竞争变得空前激烈。作为我国商业银行主力军之一的招商银行自上市之后,积极应对经营过程中面临的任何问题和挑战,取得了不俗的成绩,要想在国内外商业银行的竞争中占有优势,就必须继续不断努力,提高自身的经营业绩水平。从理论的角度出发,企业的资本结构和其经营绩效之间相关性关系是存在的。企业的资本结构既可以直接对其经营绩效产生影响,也可以通过治理结构对其经营绩效产生间接的影响,这种理论是否同样适用于招商银行,需要根据招商银行的相关财务数据资料进行具体的实证分析。研究招商银行资本结构与经营绩效之间的关系,在招商银行未来获得更多的利润、有更好的发展前景中起着非常重要的作用,而且对于我国未上市将要上市或者已经上市的商业银行未来的经营发展发挥了一定的参考价值。本文将招商银行作为研究对象,以2002年至2012年公布的年报财务数据作为研究样本,在对国内外相关研究文献进行充分理解的基础上,对商业银行的资本结构和经营绩效相关概念进行界定,从股权结构和债务结构这两个角度出发,对招商银行的资本结构现状进行分析,从盈利能力、成长能力、安全性以及流动性这四个角度出发,对招商银行的绩效水平进行分析,使用统计学SPSS17.0软件中的主成分分析法和多元线性回归分析法,选取净资产收益率、净息差、总资产收益率、存贷款比率、贷款资产比率、不良贷款率、资本充足率和净利润增长率这八个指标对招商银行的经营绩效水平进行评价,运用因子分析法提取出三个公共因子,将这三个公共因子作为自变量,资产负债率作为因变量,进行实证分析,探讨招商银行资本结构与经营绩效二者之间的关系。实证分析结果表明,招商银行的资产负债率与自身经营绩效呈负相关关系,也就是说,招商银行资本结构与经营绩效之间存在负相关关系。针对招商银行资本结构和经营绩效现状中存在的问题,从优化招商银行资本结构的角度出发,对提高其经营绩效提出对策建议。具体来说,招商银行可以通过保持适当股权集中度、合理引入战略投资者和增加银行内部融资能力这些方式来优化自身的股权结构,适当控制银行资产负债率和拓展负债业务种类来优化自身债务结构,还可以不断完善自身管理制度,努力提高资产质量,积极拓展中间业务这些方法来提高招商银行的经营绩效。
[Abstract]:The financial industry is the core and pillar of the modern economy, and the commercial bank is one of the important parts of the modern financial system. The healthy development and steady growth of the commercial bank play a vital role in the national economic development of a country. With the rapid development of global economy and the opening degree of Chinese financial market, foreign banks pour into our market in large numbers, domestic commercial banks blossom everywhere, and the competition of China's banking industry becomes more and more fierce. China Merchants Bank, as one of the main forces of commercial banks in our country, has actively responded to any problems and challenges in the course of operation since it listed on the stock market, and has made good achievements in order to have an advantage in the competition of commercial banks at home and abroad. Must continue to work hard, raise oneself management achievement level. From a theoretical point of view, there is a correlation between the capital structure of an enterprise and its operating performance. The capital structure of an enterprise can not only directly affect its business performance, but also indirectly influence its operating performance through the governance structure. This theory is also applicable to China Merchants Bank. Need according to the relevant financial data of China Merchants Bank for specific empirical analysis. The study of the relationship between the capital structure and the operating performance of China Merchants Bank (CMB) plays a very important role in making more profits in the future and having a better development prospect. Moreover, it plays a certain reference value for the future development of commercial banks that are not listed or already listed. This paper takes China Merchants Bank as the research object, taking the financial data of the annual report published from 2002 to 2012 as the research sample, on the basis of fully understanding the relevant research literature at home and abroad. This paper defines the related concepts of capital structure and operating performance of commercial banks, analyzes the present situation of the capital structure of China Merchants Bank from the angle of equity structure and debt structure, and analyzes the profitability and growth ability of China Merchants Bank. This paper analyzes the performance level of China Merchants Bank from the aspects of security and liquidity, and uses the principal component analysis and multiple linear regression analysis in the statistical SPSS17.0 software to select the net asset return and net interest margin. The total return on assets, the ratio of deposit and loan, the ratio of loan assets, the ratio of non-performing loans, the ratio of capital adequacy and the growth rate of net profit are eight indicators to evaluate the operating performance level of China Merchants Bank, and the three public factors are extracted by factor analysis. Taking these three public factors as independent variables and asset-liability ratio as dependent variables, this paper makes an empirical analysis to explore the relationship between the capital structure and operating performance of China Merchants Bank. The empirical results show that the asset-liability ratio of China Merchants Bank is negatively related to its own operating performance, that is to say, there is a negative correlation between the capital structure of China Merchants Bank and its operating performance. In view of the problems existing in the present situation of China Merchants Bank's capital structure and operating performance, this paper puts forward some countermeasures and suggestions to improve its management performance from the point of view of optimizing its capital structure. Specifically, China Merchants Bank can optimize its equity structure by maintaining proper equity concentration, introducing strategic investors and increasing the internal financing capacity of banks. By properly controlling the bank's asset-liability ratio and expanding the types of liability business to optimize its debt structure, we can constantly improve our own management system and strive to improve the quality of our assets. Actively expand the intermediary business to improve the business performance of China Merchants Bank.
【学位授予单位】：东北农业大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.3;F830.42

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