本文選題：直接融資 + 銀行業(yè)特許權(quán)價值�。� 參考：《國際金融研究》2017年06期

【摘要】：在中國經(jīng)濟新常態(tài)和供給側(cè)結(jié)構(gòu)性改革的大背景下,研究直接融資對銀行特許權(quán)價值的影響,對于正確引導(dǎo)銀行業(yè)的發(fā)展,繼續(xù)維持銀行業(yè)市場競爭力具有十分重要的意義。本文借鑒測度銀行業(yè)特許權(quán)價值的PR模型,實證研究了2005-2014年我國的銀行業(yè)特許權(quán)價值的變化趨勢,發(fā)現(xiàn)這期間銀行特許權(quán)價值呈倒U型變動趨勢。在進一步控制了市場集中度等變量的情況下,實證發(fā)現(xiàn)直接融資市場的發(fā)展對銀行業(yè)特許權(quán)價值存在顯著地積極影響,即近年來直接融資的市場發(fā)展,不僅沒有帶來銀行特許權(quán)價值的下降,而是通過擴大銀行的業(yè)務(wù)范圍,增強資金利用效率,提高了銀行業(yè)的利潤和經(jīng)營穩(wěn)健性,提升了銀行特許權(quán)價值。
[Abstract]:Under the background of China's new normal economy and the structural reform of the supply side, the study of the impact of direct financing on the bank's franchise value is of great significance for the correct guidance of the development of the banking industry and the continued maintenance of the competitiveness of the banking market. This paper uses the PR model to measure the value of the franchise in the banking sector and empirically studies the 2005-2014 The change trend of China's banking franchise value in this year shows that the bank concession value has an inverted U trend in this period. In the case of further controlling the market concentration and other variables, it is found that the development of direct financing market has a significant positive impact on the franchise value of the banking industry, that is, the market of direct financing in recent years. The exhibition, not only does not bring about the decline in the value of the bank's franchise, but by expanding the scope of the bank's business, enhancing the efficiency of the use of funds, improving the profit and management of the banking industry, and improving the value of the bank's franchise.
【作者單位】： 武漢大學(xué)社會保障研究中心;中央財經(jīng)大學(xué)經(jīng)濟學(xué)院;
【分類號】：F224;F832.33
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本文編號：1930691