中国商业银行对外直接投资区位选择研究

发布时间：2017-12-31 08:13

本文关键词：中国商业银行对外直接投资区位选择研究　出处：《吉林大学》2017年硕士论文　论文类型：学位论文

【摘要】：随着世界经济的迅速发展,商业银行不断调整自己的业务类型和组织管理方式来提高自身竞争力以提供更好的服务。21世纪的商业银行发展趋势呈现出新的特点:分支网络全球化、业务经营综合化、收入渠道多元化、经营规则国际化以及金融服务的电子化。截至2015年底,共有22家中资银行在海外59个国家和地区设立1,298家分支机构,其中一级机构213家。中国银行业对外直接投资存量是971亿美元,较2007年增长7.6倍。因此,在此国际国内背景下,研究我国商业银行对外投资区位选择问题,具有重要的现实意义。本文通过对现有的理论范式、国内外文献及行业现状和特征进行梳理,奠定了本文的理论基础和行业背景。结合中国商业银行对外直接投资的特点,本文基于新兴国家对外直接投资的资源理论,从动因视角提出了影响中国商业银行对外直接投资区位选择的东道国因素:东道国市场规模、双边经济交往水平、东道国金融发展程度。从制度理论对东道国的制度质量和文化距离对我国商业银行对外直接投资区位选择的影响进行分析。本文建立引力模型,运用2006-2015年5家国有控股商业银行在18个东道国(地区)的面板数据进行实证分析。研究发现,我国商业银行对外直接投资目前处于起步阶段,在对外直接投资区位选择过程中我国商业银行对外直接投资与东道国的市场规模、双边经济交往水平、东道国金融发展程度呈显著的正相关。对于东道国制度质量从代表话语权与问责制,政治稳定与杜绝暴力/恐怖主义,政府效率,RQ代表监管质量,法治水平,腐败控制六个维度进行度量和考察。通过实证研究发现,东道国政治稳定性、监管质量及法治水平与我国商业银行FDI呈显著正相关,民主发展水平和腐败控制水平与我国商业银行对外直接投资呈负相关,政府效率对我国商业银行对外直接投资的影响不显著。本文运用主成分分析对制度六维度进行分析,加上控制变量:东道国与我国地理距离、东道国汇率水平和对外资的吸引力,对东道国的市场规模、双边经济交往水平、东道国金融发展程度、制度质量、文化距离与我国商业银行对外直接投资区位选择的关系进行回归分析。研究结果表明与东道国制度因素相比,东道国的市场规模、双边经济交往水平、东道国金融发展程度对我国的商业银行投资更具有吸引力。
[Abstract]:With the rapid development of world economy, commercial banks continue to improve their own competitiveness in order to provide service for the development of the.21 century commercial banks better trend presents new characteristics to adjust business type and organization and management of their branch networks: globalization, business integration, income diversification, internationalization and management rules of electronic financial services. As of the end of 2015, a total of 22 banks set up 1298 branches in 59 countries and regions overseas, one of which 213 institutions. The stock of foreign direct investment Chinese banking is $97 billion 100 million, compared with 2007 growth of 7.6 times. Therefore, the international and domestic background, study on the choice of foreign commercial banks in China the investment location, has important practical significance. Based on the existing theory, the status and characteristics of foreign literature and domestic industry to sort out, laid the The theoretical basis and background. Combined with the characteristics of commercial banks Chinese foreign direct investment, foreign direct investment in emerging countries based on the theory of motivation from the perspective of resources, proposed the influence factors of host country location choice of foreign direct investment in commercial bank China: host market, bilateral economic exchanges, financial development from the analysis of the influence degree. The location choice of foreign direct investment in China's commercial banks' institutional quality and cultural distance on the host system theory. This paper based on gravity model, using 2006-2015 5 state-owned holding commercial banks in 18 countries (regions) of the panel data for empirical analysis. The study found that China's commercial banks' foreign direct investment is still in its infancy stage in the location choice of foreign direct investment in China's commercial banks in the process of foreign direct investment and the market size of the host country Bilateral economic exchanges, the level was positively correlated to the degree of financial development in the host country. The host system from the right to speak on behalf of quality and accountability, political stability and prevent violence / terrorism, government efficiency, quality supervision on behalf of RQ, the level of the rule of law, control of corruption in six dimensions to measure and study. The empirical study found that the host country political stability the quality of supervision, and the rule of law level was positively correlated with FDI in Chinese commercial banks, the level of democratic development and the control of corruption was negatively correlated with the Commercial Bank of China's foreign direct investment, government efficiency of commercial banks in China's foreign direct investment is not significant. Using the principal component analysis for the six dimensions of system analysis, control variable plus: the host country and China's geographical distance, the host exchange rates and the attraction of foreign capital, the market size of the host country, bilateral economic exchanges The level of the host country, the degree of financial development, institutional quality, regression analysis of the relationship between cultural distance and Commercial Bank of China's foreign direct investment location choice. The research results show that compared with the host country institutional factors, the market size of the host country, the level of bilateral economic exchanges, the degree of development of the host country to our country commercial bank financial investment more attractive.

【学位授予单位】：吉林大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.33;F125

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