金控背景和信托公司绩效的关联研究

发布时间：2018-03-16 19:18

本文选题：金融控股　切入点：信托公司　出处：《苏州大学》2013年硕士论文　论文类型：学位论文

【摘要】：信托业作为我国金融体系中不可或缺的四大支柱之一，受到国内相关学者的重视，尤其是对信托公司相应的发展模式以及信托业在我国金融行业内的定位更是研究热点。近年来，随着越来越多的信托公司被不同的金融机构以及金融集团所控股，，备受争议的话题逐步凸显，即金融控股公司模式下，银行或者金融集团对信托公司的控股是否可行，是否会产生良好的协同效应，这在国内业界尚未形成明确共识。本文选取了2009年至2011年间正常经营的信托公司作为样本，对其经营绩效进行分析，同时进一步对其中金融控股背景下的信托公司进行分组分析，对比其经营效率并对影响其效率的因子进行讨论。在实证中运用描述性统计、非参数检验、DEA数据包络分析以及受限因变量模型（Tobit回归）等多种数理分析方法，对数据进行处理及分析。实证结果表明，我国金融控股背景下的信托公司中，纯粹金融控股背景的信托公司绩效较好，远高于其他控股背景的信托公司，而混合金融控股背景的信托公司绩效不佳，可见其并未发挥金融机构间的协同效应；在进一步的效率分析中发现，混合金融控股背景的信托公司的经营效率远低于纯粹金融控股背景。本文通过Tobit回归对影响金融控股背景的信托公司经营效率的因子进行分析，最终得出信托公司的员工人数、主动管理型信托业务占比、集合类与单一类信托比例对信托公司的经营效率存在显著正相关影响。本文结合理论分析与实证结果两方面，对金融控股背景下两组不同的信托公司绩效差异的原因进行了解释，并对我国信托公司未来的发展模式以及业务拓展方向提出了相应的政策建议。
[Abstract]:As one of the four indispensable pillars in China's financial system, the trust industry has attracted the attention of relevant domestic scholars. Especially the research focus on the corresponding development mode of trust companies and the positioning of trust industry in the financial industry of our country. In recent years, with more and more trust companies being controlled by different financial institutions and financial groups, more and more trust companies are controlled by different financial institutions and financial groups. The controversial topic is gradually highlighted, that is, whether the holding of trust companies by banks or financial groups is feasible or not, which has not yet formed a clear consensus in the domestic industry. From 2009 to 2011, this paper selects the trust company as a sample to analyze its business performance, and further analyzes the trust company in the context of financial holding. This paper compares its operating efficiency and discusses the factors that affect its efficiency. In the empirical analysis, it uses several mathematical analysis methods, such as descriptive statistics, non-parametric test DEA data envelopment analysis and restricted dependent variable model (Tobit regression), etc. The empirical results show that the trust companies with pure financial holding background have better performance than those with other holding backgrounds, and the empirical results show that the trust companies with pure financial holding background have better performance than those with other holding backgrounds. However, the performance of trust companies with mixed financial holding background is poor, which shows that they do not play a synergistic effect among financial institutions; in the further analysis of efficiency, it is found that, The operating efficiency of the trust company with mixed financial holding background is much lower than that of pure financial holding background. This paper analyzes the factors affecting the operating efficiency of the trust company with financial holding background by Tobit regression, and finally obtains the number of employees of the trust company. The proportion of active management trust business and the proportion of aggregate type and single type of trust have a significant positive correlation on the operating efficiency of trust companies. This paper explains the reasons for the difference in the performance of the two groups of trust companies under the background of financial holding, and puts forward corresponding policy suggestions on the future development mode and business expansion direction of the trust companies in China.
【学位授予单位】：苏州大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.49

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