我国商业银行人民币理财产品收益率影响因素研究

发布时间：2018-01-13 23:08

本文关键词：我国商业银行人民币理财产品收益率影响因素研究　出处：《中国海洋大学》2013年硕士论文　论文类型：学位论文

【摘要】：商业银行个人理财业务是经济市场化进程中促使国民储蓄有效转化为财富,增加国民福利,完善经济金融体系功能,推动国民经济持续稳定发展的重要机制。随着我国金融体系改革的深入、金融工具的逐步完善,从国外发达国家成熟的商业银行个人理财业务及产品来看,个人理财业务必将成为我国商业银行利润的重要来源,理财产品的发展也将成为促进个人理财业务发展的主要动力,因此,人民币理财产品收益率问题无疑是其中很关键的因素。近些年,随着我国经济的快速发展,居民手中空闲资金越来越多,如何有效地保持货币的价值、增加居民财产性收入,如何使财产变成财富日益成为人们热切关注的焦点。而当前,居民普遍缺乏相应的知识积累和实践经验,尤其是对收益率问题的认识缺乏了解,这不仅影响着居民对理财产品的选择、个人财富的增加,更加影响到财产向财富转化的实现。因此,对人民币理财产品收益率影响因素的研究,具有十分重要的理论和现实意义。本文以人民币理财产品收益率影响因素为研究对象,在对商业银行个人理财相关理论和国内人民币理财产品及其收益率研究文献进行梳理的基础上,尝试从理论层面分析人民币理财产品收益率的影响因素,以及各因素对理财产品收益率产生影响的作用机理,并以中国工商银行已2009年7月至2012年12月发行的365天人民币理财产品的相关数据为依据,构建以收益率、货币供给量、利率、工业增加值、上证综指、居民消费者价格指数及本外币存款为变量的计量分析模型,用ADF检验以及Johansen检验判定所选择的变量的平稳性及协整性,并用多元线性回归模型对其进行实证检验,统计分析结果显示：商业银行人民币理财产品的收益率和利率、工业增加值呈正相关关系,与上证综指没有显著的相关性,与货币供给量、本外币存款以及滞后一期的居民消费者价格指数呈负相关关系。在上述研究论述的基础上,本文从商业银行个人理财业务发展、人民币理财产品创新等角度提出商业银行应重视风险管理与控制、注重人民币理财产品创新、储备大量专业人才及应加强对理财产品购买人的风险提示工作等政策建议。
[Abstract]:Personal finance business of commercial banks is to promote the effective transformation of national savings into wealth, increase national welfare and improve the function of economic and financial system in the process of economic marketization. With the deepening of the reform of our financial system and the gradual improvement of financial instruments, we can see from the mature commercial banks' personal financial business and products in developed countries. Personal finance business will become an important source of profits of commercial banks in China, the development of financial products will also become the main driving force to promote the development of personal finance business. The return rate of RMB financial products is undoubtedly a key factor. In recent years, with the rapid development of our country's economy, there are more and more idle funds in the hands of residents. How to effectively maintain the value of money and increase residents' property income. How to turn property into wealth has become the focus of people's attention day by day. At present, residents generally lack the corresponding knowledge accumulation and practical experience, especially the understanding of the rate of return. This not only affects the choice of wealth management products, the increase of personal wealth, but also affects the realization of the transformation from property to wealth. Therefore, the study on the factors affecting the return rate of RMB financial products. It has very important theoretical and practical significance. This article takes the RMB financial product return rate as the research object, on the basis of combing the commercial bank personal finance related theory and the domestic RMB financial product and its yield research literature. This paper tries to analyze the influencing factors of RMB financial product yield from the theoretical level and the mechanism of each factor influencing the financial product return rate. Based on the relevant data of RMB financial products issued by Industrial and Commercial Bank of China from July 2009 to December 2012, this paper constructs a system based on yield, money supply, interest rate and industrial added value. Shanghai Composite Index, consumer price index and local and foreign currency deposits as variables of the econometric analysis model, using ADF test and Johansen test to determine the stability and cointegration of the selected variables. The result of statistical analysis shows that the return rate of RMB financial products of commercial banks is positively correlated with interest rate and industrial added value. There is no significant correlation with the Shanghai Composite Index, but a negative correlation with the amount of money supply, local and foreign currency deposits and the consumer price index of residents who lag behind. On the basis of the above research, this paper puts forward that commercial banks should pay attention to risk management and control and RMB financial product innovation from the perspective of the development of commercial banks' personal financial management business and the innovation of RMB financial products. To reserve a large number of professionals and to strengthen the financial products buyers of risk advice and other policy recommendations.
【学位授予单位】：中国海洋大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.2

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