本文選題：影子銀行 + 中小商業(yè)銀行��； 參考：《安徽大學(xué)》2017年碩士論文

【摘要】：隨著對(duì)2007-2009年金融危機(jī)爆發(fā)原因的深入研究,影子銀行被認(rèn)為是幕后推手而受到社會(huì)各界的廣泛關(guān)注。不同于國(guó)際社會(huì)一般定義的影子銀行,我國(guó)的影子銀行的產(chǎn)生與發(fā)展有其特定的原因,主要是對(duì)金融監(jiān)管的突破與創(chuàng)新,既包括外部影子銀行機(jī)構(gòu),也包括商業(yè)銀行內(nèi)部影子銀行業(yè)務(wù)。近年來影子銀行規(guī)模迅速擴(kuò)大,在支持實(shí)體經(jīng)濟(jì)和提高資源配置效率上發(fā)揮了顯著作用,但影子銀行透明度低、缺乏監(jiān)管等固有特征決定著其不斷壯大的背后隱藏著巨大的金融風(fēng)險(xiǎn),一系列影子銀行違約事件的發(fā)生也已經(jīng)引起了監(jiān)管層的高度關(guān)注。中小商業(yè)銀行(指全國(guó)性股份制商業(yè)銀行和城市商業(yè)銀行)一直是我國(guó)金融改革的領(lǐng)頭羊,雖然規(guī)模較小,但是經(jīng)營(yíng)靈活、敢于創(chuàng)新,市場(chǎng)份額不斷擴(kuò)大,在服務(wù)地方經(jīng)濟(jì)、服務(wù)中小企業(yè)方面發(fā)揮了重要作用。隨著金融脫媒和利率市場(chǎng)化改革的基本完成,銀行業(yè)的競(jìng)爭(zhēng)將會(huì)更加激烈。因此,在國(guó)有大型銀行和影子銀行機(jī)構(gòu)雙重?cái)D壓的背景下,研究中小商業(yè)銀行如何在挑戰(zhàn)中抓住機(jī)遇轉(zhuǎn)型創(chuàng)新、提高經(jīng)營(yíng)績(jī)效就顯得格外重要。我國(guó)的影子銀行與傳統(tǒng)商業(yè)銀行體系有著密切的聯(lián)系,對(duì)中小商業(yè)銀行經(jīng)營(yíng)績(jī)效的影響是一把雙刃劍:積極作用是外部影子銀行機(jī)構(gòu)的金融創(chuàng)新能力能夠?qū)χ行∩虡I(yè)銀行起到很好的示范作用,而且商業(yè)銀行為規(guī)避監(jiān)管部門的嚴(yán)格監(jiān)管,將資金由表內(nèi)轉(zhuǎn)移到表外創(chuàng)新的影子銀行業(yè)務(wù)也能夠獲取監(jiān)管套利、擴(kuò)大中間業(yè)務(wù)收入;消極作用主要是影子銀行作為金融創(chuàng)新的產(chǎn)物,從事與銀行類似的存貸款業(yè)務(wù),其服務(wù)對(duì)象也多為中小企業(yè),會(huì)直接與中小商業(yè)銀行展開競(jìng)爭(zhēng),削弱其貸款定價(jià)能力。更為重要的是,影子銀行的資金來源與商業(yè)銀行盤根錯(cuò)節(jié),一旦發(fā)生流動(dòng)性危機(jī)會(huì)將風(fēng)險(xiǎn)迅速傳遞至傳統(tǒng)銀行部門,甚至?xí)l(fā)系統(tǒng)性風(fēng)險(xiǎn),威脅整個(gè)金融體系的穩(wěn)定。在研究過程中,本文將理論研究和實(shí)證分析相結(jié)合。首先,詳細(xì)闡述了影子銀行的概念,深入分析了當(dāng)前我國(guó)影子銀行的發(fā)展現(xiàn)狀及中小商業(yè)銀行的績(jī)效評(píng)價(jià)方法,在理論上探討影子銀行對(duì)中小商業(yè)銀行可能產(chǎn)生的影響。結(jié)果發(fā)現(xiàn),影子銀行通過分流效應(yīng)、激勵(lì)效應(yīng)和風(fēng)險(xiǎn)積聚效應(yīng)分別影響中小商業(yè)銀行的傳統(tǒng)業(yè)務(wù)、中間業(yè)務(wù)和經(jīng)營(yíng)風(fēng)險(xiǎn),最終影響經(jīng)營(yíng)績(jī)效。其次,根據(jù)對(duì)影子銀行的界定,我們測(cè)算出了 2003-2015年影子銀行的規(guī)模,并經(jīng)過對(duì)比分析采用EVA回報(bào)率來度量中小商業(yè)銀行的經(jīng)營(yíng)績(jī)效,通過建立面板數(shù)據(jù)模型,對(duì)前述理論研究進(jìn)行了實(shí)證檢驗(yàn)�；貧w結(jié)果表明,當(dāng)前我國(guó)影子銀行的相對(duì)規(guī)模對(duì)中小商業(yè)銀行經(jīng)營(yíng)績(jī)效的影響存在閾值效應(yīng),其關(guān)系可用倒"U"型曲線來描述。當(dāng)影子銀行的相對(duì)規(guī)模低于34.47%時(shí),將有利于提高中小商業(yè)銀行經(jīng)營(yíng)績(jī)效,超過這一拐點(diǎn)時(shí)則起抑制作用。當(dāng)前我國(guó)影子銀行的相對(duì)規(guī)模已經(jīng)達(dá)到57.11%,遠(yuǎn)超過閾值,潛在的風(fēng)險(xiǎn)不容忽視。根據(jù)上述結(jié)論,我們認(rèn)為政府應(yīng)當(dāng)完善監(jiān)管體系,繼續(xù)加強(qiáng)對(duì)影子銀行的監(jiān)管,適當(dāng)控制影子銀行的相對(duì)規(guī)模。同時(shí)建議中小商業(yè)銀行完善風(fēng)險(xiǎn)管理機(jī)制,加快業(yè)務(wù)轉(zhuǎn)型,以提升自身價(jià)值創(chuàng)造能力。
[Abstract]:With the in-depth study of the causes of the outbreak of the 2007-2009 year financial crisis, the shadow bank is considered to be a behind the curtain and has received extensive attention from all walks of life. Unlike the general definition of the shadow bank in the international community, the emergence and development of the shadow banks in our country have its specific reasons. Shadow banking institutions, including the shadow banking within commercial banks, have expanded rapidly in recent years to play a significant role in supporting the real economy and improving the efficiency of resource allocation. However, the low transparency of the shadow bank and the lack of regulatory characteristics determine the huge financial risks behind its growth. The occurrence of a series of shadow banking defaults has also aroused the attention of the regulatory layer. Small and medium-sized commercial banks (national joint-stock commercial banks and urban commercial banks) have always been the leading sheep of our financial reform. Although they are small, they are flexible in operation, dare to innovate, market share is expanding, and serve the local economy. With the basic completion of the financial disintermediation and the reform of the interest rate marketization, the competition of the banking industry will be more intense. Therefore, in the background of the double extrusion of the state-owned large banks and the shadow banking institutions, it is studied how the small and medium commercial banks can seize the opportunity and innovate and improve their performance in the challenge. The effect is very important. The shadow banking of our country has a close relationship with the traditional commercial bank system. The influence on the performance of the small and medium commercial banks is a double-edged sword: the positive effect is that the financial innovation ability of the external shadow banking institution can play a good demonstration role to the small and medium commercial banks, and the commercial bank is to avoid it. The strict supervision of the supervision department, the shadow banking business that transfers the funds from the table to the outside of the table can also obtain the regulatory arbitrage and expand the middle business income. The negative effect is that the shadow bank is the product of the financial innovation, and is engaged in the similar deposit and loan business with the bank, and its service objects are mostly small and medium enterprises, which will be directly and medium and small. The commercial banks are competing to weaken their loan pricing ability. More importantly, the source of the funds of the shadow bank and the commercial banks are at the wrong level. Once the liquidity crisis occurs, the risk will be quickly transferred to the traditional banking sector, which may even lead to systemic risk and threaten the stability of the whole financial system. The research and empirical analysis are combined. First, the concept of shadow banking is elaborated in detail, the current development status of shadow banking in China and the performance evaluation method of small and medium commercial banks are deeply analyzed, and the possible influence of shadow bank on small and medium commercial banks is discussed in theory. The effect of the risk accumulation effect on the traditional business of small and medium-sized commercial banks, intermediate business and management risk, and ultimately affect the performance. Secondly, according to the definition of the shadow bank, we calculated the size of the shadow bank for 2003-2015 years, and compared and analyzed the EVA rate of return to measure the performance of small and medium-sized commercial banks. The regression results show that there is a threshold effect on the impact of the relative size of the shadow bank on the operating performance of small and medium commercial banks in China, and the relationship can be described by the inverted "U" curve. When the relative size of the shadow bank is below 34.47%, it will be beneficial to the improvement. At present, the relative scale of the small commercial banks overtakes the inflection point. The relative scale of the shadow banks in China has reached 57.11%, far beyond the threshold, and the potential risks can not be ignored. According to the above conclusion, we think the government should improve the supervision system, strengthen the supervision of the shadow bank and properly control the shadow banking. At the same time, it is suggested that small and medium commercial banks should improve their risk management mechanism and speed up their business transformation so as to enhance their own value creation ability.

【學(xué)位授予單位】：安徽大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F832.33

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