我国上市银行资本结构对经营绩效的影响

发布时间：2018-05-11 03:01

本文选题：资本结构 + 经营绩效　；参考：《中国海洋大学》2015年硕士论文

【摘要】：2008年暴发了美国次贷危机,此次危机波及到全球,造成世界范围的巨大万损,这一事件直接催生了《巴塞尔协议Ⅲ》,该协议预示着监管机构对于银行资本监管将会进一步加强；2009年10月21日,中国银监会颁布了《关于完善商业银行资本补充机制的通知》,该通知也意味着银行增强了资本监管力度。如何在监管愈加严格的情形下,合理调整银行资本结构,达到监管要求显得极为重要。商业银行的经营基础是合理的资本结构,只有这样才能实现财务目标以及抵御风险。而资本结构一方面通过融资时的成本和风险影响经营绩效,另一方面通过公司治理影响绩效。本文在结构方面首先梳理了资本结构以及银行的绩效的一些理论基础,包括资本结构的理论、经营绩效理论以及EVA和RORWA的理论,还界定了银行的资本结构和绩效,其次,选取我国上市的十六家银行六年的数据来分析我国银行股权结构和经营绩效的现状。实证部分中,资本结构从核心资本、附属资本和资本充足率三个方面建立指标。经营绩效方面：本文在综合衡量指标之后为了更科学衡量上市银行的经营绩效,综合资本结构对风险收益和价值创造能力,分别从收益和风险两个方面选取了经济增加(EVA)值和加权风险收益率(RORWA)两个指标,而不是使用一般研究使用的净资产收益率和资产收益率来衡量银行绩效,利用平衡面板数据分别从长期以及短期分析我国银行资本结构对经营绩效的影响。现状研究部分,可以看出我国在监管加大的力度下,银行业的资本充足方面比较良好,但在股权结构方面,不同的性质的银行仍有很大差别。经营绩效方面,各大银行在不良贷款率和拨备覆盖率等方面表现尚可,但仍存在规模、发展阶段等原因使得收益率等指标存在显著差别。实证部分得到的结果为：第一大股东持股比例和经营绩效呈负相关；相对集中的股权结构有利于银行绩效的提升；股权流通性的提高对上市银行绩效的提高效果不是很明显；附属资本占比对银行提高绩效具有两面性;资本充足有助于提高银行经营绩效。最后,根据本文的实证结果对优化资本结构从多个方面提出建议,希望对提高银行的竞争力起到促进作用。
[Abstract]:The subprime mortgage crisis broke out in the United States in 2008, which spread to the whole world, causing huge losses worldwide. This event led directly to the Basel III agreement, which foreshadowed further strengthening of the supervision of bank capital by regulators; on October 21, 2009, The CBRC promulgated the notice on perfecting the Capital Supplementary Mechanism of Commercial Banks, which also means that the banks have strengthened their capital supervision. It is very important to adjust the capital structure of banks to meet the regulatory requirements. The commercial bank's management foundation is reasonable capital structure, only then can realize the financial target and resist the risk. On the one hand, the capital structure affects the operating performance through the cost and risk of financing, on the other hand, it affects the performance through corporate governance. In the aspect of structure, this paper firstly combs some theoretical bases of capital structure and bank's performance, including the theory of capital structure, the theory of operating performance, the theory of EVA and RORWA, and defines the capital structure and performance of banks. The six year data of 16 banks listed in China are selected to analyze the present situation of stock ownership structure and management performance of Chinese banks. In the empirical part, the capital structure establishes the index from three aspects: core capital, subsidiary capital and capital adequacy ratio. In terms of business performance: in order to measure the performance of listed banks more scientifically, the comprehensive capital structure has the ability to create risk returns and value. This paper selects two indexes, economic increase EVA value and weighted risk rate of return, from two aspects of income and risk, instead of using the return on net assets and the return on assets used in general research to measure bank performance. Using the balance panel data, this paper analyzes the impact of the capital structure of Chinese banks on the operating performance in the long term and in the short term. In the present research part, we can see that the capital adequacy of banking industry is quite good in our country, but in the aspect of equity structure, the banks of different nature are still very different. In terms of operating performance, the performance of various banks in non-performing loan ratio and reserve coverage rate is good, but there are still some reasons such as scale, development stage and so on, which make the rate of return significantly different. The empirical results are as follows: the first largest shareholder's share holding ratio is negatively correlated with the operating performance; the relatively concentrated ownership structure is conducive to the improvement of bank performance; the improvement of equity circulation is not obvious to the performance of listed banks; The proportion of subsidiary capital has two sides to the improvement of bank performance. Finally, according to the empirical results of this paper, suggestions are put forward to optimize the capital structure from many aspects, hoping to promote the competitiveness of banks.
【学位授予单位】：中国海洋大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F832.33;F830.42

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