基于EVA視角的我國上市商業(yè)銀行盈利能力評價體系研究
發(fā)布時間：2018-11-22 07:00
【摘要】：上市商業(yè)銀行的盈利能力是銀行賴以生存發(fā)展的物質基礎。在經歷了2006年我國金融業(yè)對外資銀行全面開放和2008年金融危機的沖擊之后，商業(yè)銀行目前正在從注重資本規(guī)模的傳統(tǒng)粗放型擴張模式向注重風險控制、經營效益和資產質量的集約型增長方式轉變，其經營管理的目標也從單純的規(guī)模的增長轉向了銀行的價值最大化方面。因此，如何評價銀行的盈利能力是否實現了銀行價值最大化和增加了股東財富成為目前我國上市商業(yè)銀行的投資者和管理者亟待關注的問題。 經濟增加值(EVA)是20世紀80年代美國思騰思特管理公司提出并已經被廣泛運用的新型財務評價指標，相對于現行會計準則下計算出來的會計利潤，EVA成功的引入資本成本的概念，同時通過對相關科目的會計調整來修正會計準則對利潤存在的潛在誤差和扭曲，能夠克服通過凈利潤衡量商業(yè)銀行盈利能力的缺陷，幫助商業(yè)銀行正確評價自身的盈利能力，樹立資本成本意識，因此，本文以EVA指標為導向，進一步修正以會計利潤為核心的傳統(tǒng)財務指標體系,構建一個以傳統(tǒng)盈利能力評價指標為基礎，以EVA相關指標為核心的盈利能力評價體系，從而全面的評價商業(yè)銀行的盈利能力。 本文主要采取了理論研究和應用分析相結合的方法。在理論研究方面，本文首先介紹了商業(yè)銀行的盈利模式、概念、相關的評價內容和指標體系，商業(yè)銀行盈利能力的內涵，并對傳統(tǒng)的盈利能力評價指標進行分析，指出其存在的缺陷是忽略資本成本了和相關風險因素，因此無法將經營者的利益與銀行價值最大化、股東財富最大化相聯系。在此基礎上引進了EVA理論，系統(tǒng)介紹了EVA的一般概念、理論基礎、計算公式、會計調整原則和調整項目，然后利用EVA的評價指標,并結合商業(yè)銀行實際確定了其稅后凈經營利潤、資本總額、資本成本率的計算方法，探索構建了上市商業(yè)銀行盈利能力評價體系，從理論上與傳統(tǒng)的盈利能力評價指標進行比較分析。在應用分析方面，本文以我國16家上市商業(yè)銀行2009年至2011年的相關數據為樣本數據，結合構建的以EVA為基礎的商業(yè)銀行盈利能力評價體系為基礎，計算出各商業(yè)銀行的相關評價指標進行總體分析。同時將以EVA為導向修正后的相關評價指標值與傳統(tǒng)的盈利能力評價指標進行對比分析，，反映出以EVA為基礎的商業(yè)銀行盈利能力評價指標由于考慮了全部資本成本，更能反映銀行真實的盈利能力。最后提出了在EVA評價體系下提高我國上市商業(yè)銀行盈利能力的意見和建議。
[Abstract]:The profitability of listed commercial banks is the material basis for their survival and development. After the financial industry of our country fully opened to foreign banks in 2006 and the financial crisis of 2008, commercial banks are changing from the traditional extensive expansion mode focusing on capital scale to the focus on risk control. With the transformation of the intensive growth mode of operation efficiency and asset quality, the goal of operation and management has also changed from the growth of simple scale to the value maximization of banks. Therefore, how to evaluate whether the profitability of banks can maximize the value of banks and increase the wealth of shareholders has become an urgent concern for investors and managers of listed commercial banks in China. Economic value added (EVA) is a new type of financial evaluation index put forward by American Stenster Management Company in the 1980s and has been widely used, compared with the accounting profit calculated under the current accounting standards. EVA successfully introduces the concept of the cost of capital, and corrects the potential error and distortion of the profit by adjusting the accounting rules, which can overcome the defect of measuring the profitability of commercial banks by net profit. In order to help commercial banks evaluate their profitability correctly and set up the consciousness of capital cost, this paper, guided by EVA, further modifies the traditional financial index system, which takes accounting profit as the core. This paper constructs an evaluation system of profitability based on the traditional profitability evaluation index and the core of EVA index, so as to comprehensively evaluate the profitability of commercial banks. This paper mainly adopts the method of combining theory research with application analysis. In the aspect of theoretical research, this paper first introduces the profit model, concept, evaluation content and index system of commercial banks, the connotation of profitability of commercial banks, and analyzes the traditional evaluation index of profitability. It is pointed out that its defects are to ignore the cost of capital and related risk factors, so it is impossible to link the interests of the operator with the maximization of bank value and the maximization of shareholder wealth. Based on the introduction of EVA theory, the general concept, theoretical basis, calculation formula, accounting adjustment principles and adjustment items of EVA are introduced systematically, and then the evaluation index of EVA is used. Combined with the actual commercial banks to determine the net operating profit, total capital, capital cost rate calculation methods, explore the construction of listed commercial banks profitability evaluation system, In theory and the traditional profitability evaluation indicators are compared and analyzed. In the aspect of application analysis, this paper takes the relevant data of 16 listed commercial banks from 2009 to 2011 as sample data, and constructs a commercial bank profitability evaluation system based on EVA. Calculate the commercial banks of the relevant evaluation indicators for the overall analysis. At the same time, the relative evaluation index value based on EVA is compared with the traditional profitability evaluation index, which reflects that the commercial bank profitability evaluation index based on EVA takes all the capital cost into account. More can reflect the bank's real profitability. Finally, some suggestions are put forward to improve the profitability of China's listed commercial banks under the EVA evaluation system.
【學位授予單位】：中國海洋大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F832.33
本文編號：2348424
[Abstract]:The profitability of listed commercial banks is the material basis for their survival and development. After the financial industry of our country fully opened to foreign banks in 2006 and the financial crisis of 2008, commercial banks are changing from the traditional extensive expansion mode focusing on capital scale to the focus on risk control. With the transformation of the intensive growth mode of operation efficiency and asset quality, the goal of operation and management has also changed from the growth of simple scale to the value maximization of banks. Therefore, how to evaluate whether the profitability of banks can maximize the value of banks and increase the wealth of shareholders has become an urgent concern for investors and managers of listed commercial banks in China. Economic value added (EVA) is a new type of financial evaluation index put forward by American Stenster Management Company in the 1980s and has been widely used, compared with the accounting profit calculated under the current accounting standards. EVA successfully introduces the concept of the cost of capital, and corrects the potential error and distortion of the profit by adjusting the accounting rules, which can overcome the defect of measuring the profitability of commercial banks by net profit. In order to help commercial banks evaluate their profitability correctly and set up the consciousness of capital cost, this paper, guided by EVA, further modifies the traditional financial index system, which takes accounting profit as the core. This paper constructs an evaluation system of profitability based on the traditional profitability evaluation index and the core of EVA index, so as to comprehensively evaluate the profitability of commercial banks. This paper mainly adopts the method of combining theory research with application analysis. In the aspect of theoretical research, this paper first introduces the profit model, concept, evaluation content and index system of commercial banks, the connotation of profitability of commercial banks, and analyzes the traditional evaluation index of profitability. It is pointed out that its defects are to ignore the cost of capital and related risk factors, so it is impossible to link the interests of the operator with the maximization of bank value and the maximization of shareholder wealth. Based on the introduction of EVA theory, the general concept, theoretical basis, calculation formula, accounting adjustment principles and adjustment items of EVA are introduced systematically, and then the evaluation index of EVA is used. Combined with the actual commercial banks to determine the net operating profit, total capital, capital cost rate calculation methods, explore the construction of listed commercial banks profitability evaluation system, In theory and the traditional profitability evaluation indicators are compared and analyzed. In the aspect of application analysis, this paper takes the relevant data of 16 listed commercial banks from 2009 to 2011 as sample data, and constructs a commercial bank profitability evaluation system based on EVA. Calculate the commercial banks of the relevant evaluation indicators for the overall analysis. At the same time, the relative evaluation index value based on EVA is compared with the traditional profitability evaluation index, which reflects that the commercial bank profitability evaluation index based on EVA takes all the capital cost into account. More can reflect the bank's real profitability. Finally, some suggestions are put forward to improve the profitability of China's listed commercial banks under the EVA evaluation system.
【學位授予單位】：中國海洋大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F832.33
【參考文獻】
相關期刊論文 前10條
1 方芳;秦天保;;中國商業(yè)銀行盈利能力體系構筑研究[J];商業(yè)研究;2008年05期
2 莫生紅;李明偉;;上市公司盈利能力綜合評價模型的構建[J];財會通訊(學術版);2007年01期
3 長青;白麗娜;;基于EVA的杜邦財務分析體系構建[J];財會月刊;2011年31期
4 鄒志明;;上市銀行EVA與風險調整績效指標模擬測算與分析[J];金融論壇;2007年09期
5 李京元;李儀威;;基于經濟資本的商業(yè)銀行風險管理績效評價研究[J];當代經濟;2009年18期
6 宋健,曾勇;EVA計算中無風險收益率指標選取方法的探討[J];電子科技大學學報(社科版);2003年04期
7 黃小軍;美國金融監(jiān)管機構如何分析銀行盈利[J];國際金融研究;2000年08期
8 張慶昌;傅再育;;中國上市公司盈利能力模型分析[J];貴州財經學院學報;2006年01期
9 田俊敏;;改進盈利能力指標評價體系[J];合作經濟與科技;2007年17期
10 李萍,肖惠民;企業(yè)盈利能力評價指標的改進與完善[J];華南金融研究;2003年05期
本文編號：2348424
本文鏈接：http://sikaile.net/guanlilunwen/bankxd/2348424.html
