資本結(jié)構(gòu)對中國上市銀行經(jīng)營績效的影響分析
發(fā)布時間：2019-05-19 19:07
【摘要】：2008年發(fā)生并席卷全球的金融危機(jī)，暴露出現(xiàn)行的銀行資本監(jiān)管國際規(guī)則存在的一系列內(nèi)在缺陷，既未能有效警示和防范系統(tǒng)性風(fēng)險(xiǎn)，也未能有效充分吸收危機(jī)期間的損失。為此，，巴塞爾委員會于2010年12月發(fā)布了“巴塞爾協(xié)議Ⅲ”，并于在韓國舉行的G20峰會上獲得正式批準(zhǔn)實(shí)施。對此，中國銀監(jiān)會發(fā)布了更加嚴(yán)格的中國版“巴塞爾協(xié)議Ⅲ”——《商業(yè)銀行資本管理辦法(試行)》，新規(guī)對商業(yè)銀行資本結(jié)構(gòu)提出了更高的要求，并已于2013年1月1日開始實(shí)施。新規(guī)的實(shí)施，導(dǎo)致金融監(jiān)管準(zhǔn)則的調(diào)整和重組，不僅必然影響銀行的發(fā)展戰(zhàn)略目標(biāo)，而且影響銀行的資本結(jié)構(gòu)，經(jīng)營模式和經(jīng)營規(guī)模與績效。正是基于這一背景考慮，本文意圖通過探討，就資本結(jié)構(gòu)是否影響銀行的經(jīng)營績效，以及如何影響經(jīng)營績效給予理論說明。 本文以資本結(jié)構(gòu)對中國上市銀行經(jīng)營績效的影響為選題，采用2006年至2011年十四家上市銀行的年度數(shù)據(jù)作為樣本，實(shí)證分析了資本結(jié)構(gòu)對于銀行經(jīng)營績效的影響。力圖探求資本結(jié)構(gòu)與經(jīng)營績效的相關(guān)性及影響程度，進(jìn)而尋求優(yōu)化資本結(jié)構(gòu)，提高經(jīng)營績效的路徑與方法。 論文第一、二部分為理論分析。在歸納梳理國內(nèi)外學(xué)者相關(guān)理論的研究成果及評價(jià)的基礎(chǔ)上，分析了商業(yè)銀行資本結(jié)構(gòu)與經(jīng)營績效的相關(guān)理論，著重分析股權(quán)結(jié)構(gòu)、債權(quán)結(jié)構(gòu)及權(quán)益資本與債務(wù)資本比例對經(jīng)營績效的影響，為后面的研究提供理論支撐。 第三部分主要從權(quán)益資本和債務(wù)資本的比例關(guān)系、股權(quán)結(jié)構(gòu)和附屬資本三個角度來分析了中國上市銀行資本結(jié)構(gòu)的現(xiàn)狀；從盈利能力和安全性兩個方面分析中國上市銀行經(jīng)營績效現(xiàn)狀。為后面的實(shí)證分析奠定事實(shí)基礎(chǔ)。 第四部分為實(shí)證分析，通過實(shí)證分析，得出的結(jié)論是：中國上市銀行的經(jīng)營績效與第一大股東持股比例、資產(chǎn)負(fù)債率負(fù)相關(guān)；中國上市銀行的經(jīng)營績效與前五大股東持股比例之和、第一大股東國有性質(zhì)及附屬資本占核心資本比例正相關(guān)。 第五部分為結(jié)論與建議。在實(shí)證分析結(jié)果的基礎(chǔ)上，結(jié)合中國銀行業(yè)實(shí)際狀況，針對上市銀行的資本結(jié)構(gòu)優(yōu)化和經(jīng)營績效的提高，提出了以下對策建議：第一，優(yōu)化上市銀行的股權(quán)結(jié)構(gòu)：適當(dāng)減少第一大股東的持股比例，使前五大股東持股比例之和保持在較高水平，同時盡量保持國家控股。第二，優(yōu)化上市銀行債權(quán)結(jié)構(gòu)：使資產(chǎn)負(fù)債率保持在合理的范圍內(nèi)，增加附屬資本的比重，同時使附屬資本結(jié)構(gòu)多元化，拓展附屬資本的融資渠道。第三，優(yōu)化上市銀行外部環(huán)境：加強(qiáng)對銀行的監(jiān)管力度，完善中國債券市場。
[Abstract]:The financial crisis that occurred and swept the world in 2008 exposed a series of inherent defects of the current international rules of bank capital supervision, which failed to effectively warn and guard against systemic risks, and failed to fully absorb the losses during the crisis. To this end, the Basle Committee issued the Basle III Agreement in December 2010 and was formally approved for implementation at the G20 Summit in South Korea. In this regard, the China Banking Regulatory Commission has issued a stricter version of the Chinese version of "Basel III"-measures for the Capital Management of Commercial Banks (for trial implementation). The new rules put forward higher requirements for the capital structure of commercial banks. It was implemented on January 1, 2013. The implementation of the new rules leads to the adjustment and reorganization of financial supervision standards, which will inevitably affect not only the development strategic objectives of banks, but also the capital structure, business model, business scale and performance of banks. It is based on this background that this paper intends to give a theoretical explanation on whether the capital structure affects the operating performance of banks and how it affects the operating performance. This paper takes the influence of capital structure on the operating performance of listed banks in China as the topic, and takes the annual data of 14 listed banks from 2006 to 2011 as samples to empirically analyze the impact of capital structure on the operating performance of Chinese listed banks. This paper tries to explore the correlation and influence degree between capital structure and operating performance, and then seeks the way and method to optimize capital structure and improve operating performance. The first and second parts of the paper are theoretical analysis. On the basis of summing up and combing the research results and evaluation of the relevant theories of scholars at home and abroad, this paper analyzes the related theories of capital structure and operating performance of commercial banks, with emphasis on the analysis of ownership structure. The influence of creditor's rights structure and the ratio of equity capital to debt capital on operating performance provides theoretical support for the following research. The third part mainly analyzes the present situation of the capital structure of listed banks in China from three angles: the proportional relationship between equity capital and debt capital, the ownership structure and subsidiary capital. This paper analyzes the present situation of operating performance of listed banks in China from two aspects of profitability and security. It lays the factual foundation for the following empirical analysis. The fourth part is the empirical analysis, through the empirical analysis, the conclusions are as follows: the operating performance of listed banks in China is negatively correlated with the proportion of the largest shareholders, asset-liability ratio; The operating performance of listed banks in China is positively correlated with the proportion of the top five shareholders, the state-owned nature of the largest shareholder and the proportion of affiliated capital to core capital. The fifth part is the conclusion and suggestion. On the basis of empirical analysis, combined with the actual situation of China's banking industry, in view of the optimization of capital structure and the improvement of operating performance of listed banks, the following countermeasures and suggestions are put forward: first, Optimize the ownership structure of listed banks: properly reduce the proportion of the largest shareholders, so that the sum of the top five shareholders to a higher level, while trying to maintain state holding. Second, optimize the creditor's rights structure of listed banks: keep the asset-liability ratio within a reasonable range, increase the proportion of subsidiary capital, diversify the subsidiary capital structure, and expand the financing channels of subsidiary capital. Third, optimize the external environment of listed banks: strengthen the supervision of banks, improve the bond market in China.
【學(xué)位授予單位】：西南政法大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F832.3
本文編號：2480987
[Abstract]:The financial crisis that occurred and swept the world in 2008 exposed a series of inherent defects of the current international rules of bank capital supervision, which failed to effectively warn and guard against systemic risks, and failed to fully absorb the losses during the crisis. To this end, the Basle Committee issued the Basle III Agreement in December 2010 and was formally approved for implementation at the G20 Summit in South Korea. In this regard, the China Banking Regulatory Commission has issued a stricter version of the Chinese version of "Basel III"-measures for the Capital Management of Commercial Banks (for trial implementation). The new rules put forward higher requirements for the capital structure of commercial banks. It was implemented on January 1, 2013. The implementation of the new rules leads to the adjustment and reorganization of financial supervision standards, which will inevitably affect not only the development strategic objectives of banks, but also the capital structure, business model, business scale and performance of banks. It is based on this background that this paper intends to give a theoretical explanation on whether the capital structure affects the operating performance of banks and how it affects the operating performance. This paper takes the influence of capital structure on the operating performance of listed banks in China as the topic, and takes the annual data of 14 listed banks from 2006 to 2011 as samples to empirically analyze the impact of capital structure on the operating performance of Chinese listed banks. This paper tries to explore the correlation and influence degree between capital structure and operating performance, and then seeks the way and method to optimize capital structure and improve operating performance. The first and second parts of the paper are theoretical analysis. On the basis of summing up and combing the research results and evaluation of the relevant theories of scholars at home and abroad, this paper analyzes the related theories of capital structure and operating performance of commercial banks, with emphasis on the analysis of ownership structure. The influence of creditor's rights structure and the ratio of equity capital to debt capital on operating performance provides theoretical support for the following research. The third part mainly analyzes the present situation of the capital structure of listed banks in China from three angles: the proportional relationship between equity capital and debt capital, the ownership structure and subsidiary capital. This paper analyzes the present situation of operating performance of listed banks in China from two aspects of profitability and security. It lays the factual foundation for the following empirical analysis. The fourth part is the empirical analysis, through the empirical analysis, the conclusions are as follows: the operating performance of listed banks in China is negatively correlated with the proportion of the largest shareholders, asset-liability ratio; The operating performance of listed banks in China is positively correlated with the proportion of the top five shareholders, the state-owned nature of the largest shareholder and the proportion of affiliated capital to core capital. The fifth part is the conclusion and suggestion. On the basis of empirical analysis, combined with the actual situation of China's banking industry, in view of the optimization of capital structure and the improvement of operating performance of listed banks, the following countermeasures and suggestions are put forward: first, Optimize the ownership structure of listed banks: properly reduce the proportion of the largest shareholders, so that the sum of the top five shareholders to a higher level, while trying to maintain state holding. Second, optimize the creditor's rights structure of listed banks: keep the asset-liability ratio within a reasonable range, increase the proportion of subsidiary capital, diversify the subsidiary capital structure, and expand the financing channels of subsidiary capital. Third, optimize the external environment of listed banks: strengthen the supervision of banks, improve the bond market in China.
【學(xué)位授予單位】：西南政法大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F832.3
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