本文關(guān)鍵詞：商業(yè)銀行持續(xù)增長(zhǎng)價(jià)值評(píng)估研究　出處：《江蘇大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

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【摘要】：伴隨著的市場(chǎng)經(jīng)濟(jì)的開放程度越來(lái)越高,企業(yè)改制、重組、兼并的活動(dòng)也越來(lái)越密集,這些活動(dòng)都不可避免的需要了解、估算企業(yè)的內(nèi)在價(jià)值,因此,持續(xù)性增長(zhǎng)價(jià)值在市場(chǎng)經(jīng)濟(jì)中占有一席之地的角色。目前,商業(yè)銀行面臨金融業(yè)改革,市場(chǎng)經(jīng)濟(jì)蕭條等環(huán)境,整體發(fā)展不容樂(lè)觀,評(píng)估商業(yè)銀行持續(xù)性增長(zhǎng)價(jià)值能夠了解現(xiàn)有商業(yè)銀行的發(fā)展情況,對(duì)于投資者來(lái)說(shuō),是否需繼續(xù)持有或者拋售股份,對(duì)于經(jīng)營(yíng)管理者來(lái)說(shuō),是否要改進(jìn)經(jīng)營(yíng)管理策略,對(duì)債權(quán)人來(lái)說(shuō),是否需要取出存款或者改變存款期限和性質(zhì)提供了指導(dǎo)意見。綜上,商業(yè)銀行持續(xù)性增長(zhǎng)價(jià)值估算尤為重要。本文首先闡述了企業(yè)價(jià)值評(píng)估的四種方法的理論,結(jié)合商業(yè)銀行的特殊性,最終選擇了適用于商業(yè)銀行持續(xù)性增長(zhǎng)價(jià)值評(píng)估的EVA法并建立評(píng)估模型,其次,分析影響商業(yè)銀行持續(xù)性增長(zhǎng)價(jià)值的因素有哪些,從流動(dòng)性、盈利性和安全性角度去考慮,并在三性下建立核心資本充足率、貸款質(zhì)量比率、貸款損失準(zhǔn)備充足率、流動(dòng)比率、現(xiàn)金資產(chǎn)比率、凈利潤(rùn)率等8個(gè)二級(jí)指標(biāo),指標(biāo)的選擇要盡可能的具有代表性,全面性,然后借鑒用熵值法得出各個(gè)指標(biāo)的權(quán)重,有些指標(biāo)值與商業(yè)銀行持續(xù)性增長(zhǎng)價(jià)值成正比,有些成反比,它們共同作用,直接影響了商業(yè)銀行持續(xù)性增長(zhǎng)價(jià)值,最后文章結(jié)合樣本商業(yè)銀行,運(yùn)用EVA模型對(duì)其價(jià)值的評(píng)估并考慮價(jià)值持續(xù)性增長(zhǎng)因素,得出國(guó)有銀行的持續(xù)性增長(zhǎng)價(jià)值是大于地方城市商業(yè)銀行大于股份制商業(yè)銀行,建議從影響商業(yè)銀行持續(xù)性增長(zhǎng)價(jià)值因素的盈利能力、市場(chǎng)規(guī)模、流動(dòng)性和經(jīng)營(yíng)管理等多角度提升商業(yè)銀行持續(xù)增長(zhǎng)能力,為以后提升商業(yè)銀行持續(xù)性增長(zhǎng)價(jià)值提供了指導(dǎo)意見。本文構(gòu)建商業(yè)銀行的EVA模型,考慮商業(yè)銀行特殊性,調(diào)整稅后凈營(yíng)業(yè)利潤(rùn)、資本成本、加權(quán)平均資本成本率,使EVA評(píng)估模型能適用于商業(yè)銀行持續(xù)性增長(zhǎng)價(jià)值評(píng)估,這種評(píng)估模型的構(gòu)建能夠完善商業(yè)銀行持續(xù)性增長(zhǎng)價(jià)值評(píng)估理論,豐富我國(guó)現(xiàn)有評(píng)估方法文獻(xiàn),為以后評(píng)估商業(yè)持續(xù)性增長(zhǎng)價(jià)值提供了參考。
[Abstract]:With the increasing openness of the market economy, enterprises reform, reorganization, merger activities are more and more intensive, these activities inevitably need to understand, estimate the intrinsic value of the enterprise, therefore. The value of sustained growth plays a role in the market economy. At present, commercial banks are facing the financial sector reform, market economy depression and other environments, the overall development is not optimistic. To assess the value of commercial banks' sustained growth can understand the development of existing commercial banks, for investors, whether to continue to hold or sell shares, for business managers. Whether to improve business management strategy, for creditors, the need to withdraw deposits or change the duration and nature of the deposit provides guidance. It is particularly important to estimate the value of sustained growth of commercial banks. Firstly, this paper expounds the theory of four methods of enterprise value evaluation, combined with the particularity of commercial banks. Finally, this paper chooses the EVA method which is suitable for commercial banks to evaluate the value of sustained growth and establishes the evaluation model. Secondly, it analyzes the factors that affect the value of sustained growth of commercial banks, from the liquidity. To consider profitability and security, and to establish the core capital adequacy ratio, loan quality ratio, loan loss reserve adequacy ratio, current ratio, cash assets ratio, net profit rate and other eight second-level indicators. The selection of indicators should be as representative and comprehensive as possible, and then draw on the entropy method to get the weight of each index. Some of the index values are directly proportional to the sustained growth value of commercial banks, and some are inversely proportional. Together, they have a direct impact on the value of sustained growth of commercial banks. Finally, this paper combines the sample commercial banks, using EVA model to evaluate its value and consider the factors of sustained growth of value. It is concluded that the value of sustained growth of state-owned banks is greater than that of local urban commercial banks. It is suggested that the profitability and market size of the factors affecting the sustained growth value of commercial banks should be discussed. Liquidity and business management to enhance the ability of commercial banks to sustain growth, for the future to enhance the value of sustained growth of commercial banks to provide guidance. This paper constructs a commercial bank EVA model. Considering the particularity of commercial banks, adjusting the net operating profit after tax, capital cost and weighted average capital cost ratio, the EVA evaluation model can be used to evaluate the value of commercial banks' sustained growth. The construction of this evaluation model can improve the evaluation theory of commercial banks' sustained growth value, enrich the existing literature of evaluation methods in our country, and provide a reference for the future evaluation of commercial sustained growth value.
【學(xué)位授予單位】：江蘇大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F830.42;F832.33

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