發(fā)布時(shí)間：2018-03-07 23:00

  本文選題：銀行理財(cái)　切入點(diǎn)：投資方向　出處：《華僑大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

【摘要】：隨著2012年資產(chǎn)管理政策的放開,大資管時(shí)代如約而至,自此我國的資產(chǎn)管理行業(yè)迎來了一輪業(yè)務(wù)創(chuàng)新的浪潮,資產(chǎn)管理行業(yè)以前所未有的速度迅猛發(fā)展。而我國社會也經(jīng)過改革開放30多年的不斷發(fā)展,經(jīng)濟(jì)實(shí)力躍居世界前列,個(gè)人和家庭收入均大幅提高,更多個(gè)人和家庭也因此能夠追隨大資管時(shí)代。經(jīng)過大資管時(shí)代近五年的洗禮,以銀行理財(cái)為代表的資產(chǎn)管理業(yè)務(wù)爆發(fā)式增長,目前銀行理財(cái)余額接近30萬億,規(guī)模非常龐大。銀行理財(cái)作為大資管時(shí)代理財(cái)?shù)闹髁?在市場中起著舉足重要的作用,對其進(jìn)行研究是非常有意義的。本文在大資管時(shí)代背景下首先對銀行理財(cái)相關(guān)概念、理論與文獻(xiàn)綜述等進(jìn)行分析;然后對銀行理財(cái)投資方向和運(yùn)作模式進(jìn)行剖析,投資方向主要有債權(quán)投資(包括票據(jù)投資和信貸資產(chǎn)投資)、證券投資(包括股票投資和債券投資)和其他投資等,這些運(yùn)作模式主要包括銀信合作模式、資金池-資產(chǎn)池模式和對一模式等;接下來通過最優(yōu)尺度回歸和神經(jīng)網(wǎng)絡(luò)方法對收益的影響因素進(jìn)行研究,并對結(jié)果進(jìn)行對比分析;接著對銀行理財(cái)?shù)耐顿Y方向和運(yùn)作模式對收益的影響進(jìn)行分析,還通過主成分分析方法建立了綜合評價(jià)函數(shù)來綜合評價(jià)銀行理財(cái)產(chǎn)品;最后選取了招行融贏銀河3號理財(cái)對其投資運(yùn)作進(jìn)行了案例分析。本文經(jīng)實(shí)證研究得到了影響收益的因素的重要性,通過最優(yōu)尺度回歸得到收益的影響因素的重要性依次為:收益類型、銀行類型、運(yùn)作模式、投資方向、發(fā)行對象、超額收益記為管理費(fèi)和發(fā)行區(qū)域;由神經(jīng)網(wǎng)絡(luò)分析得出銀行理財(cái)收益的影響因素的重要性依次為投資方向、運(yùn)作模式、發(fā)行對象、收益類型、銀行類型、超額收益記為管理費(fèi)和發(fā)行區(qū)域;兩種方法特別是神經(jīng)網(wǎng)絡(luò)方法得到重點(diǎn)研究的投資方向和運(yùn)作模式對收益的影響是非常顯著的,并得到其具體影響收益的結(jié)果。此外從理財(cái)收益綜合評價(jià)排名前500擁有數(shù)量和綜合表現(xiàn)高于所有理財(cái)產(chǎn)品均值的比例兩個(gè)方面可以得到綜合表現(xiàn)外資銀行最優(yōu),農(nóng)村商業(yè)銀行最差;通過招商銀行融贏銀河3號理財(cái)產(chǎn)品案例分析得到傘形信托結(jié)構(gòu)化理財(cái)產(chǎn)品投向股市具有較大風(fēng)險(xiǎn),銀行和銀監(jiān)部門需要對銀行理財(cái)投資運(yùn)作進(jìn)行總結(jié)和分析,及時(shí)發(fā)現(xiàn)問題,對銀行理財(cái)業(yè)務(wù)加強(qiáng)監(jiān)管。
[Abstract]:With the release of 2012 asset management policy, come to the era of large information management, since China's asset management industry ushered in a round of business innovation, the asset management industry with hitherto unknown speed rapid development of our society. And also after the reform and opening up 30 years of continuous development, the economic strength among the forefront of the world, personal and family the income increased sharply, more individuals and families are therefore able to follow large information management era. After a large information management era of nearly five years of baptism, the financial asset management business as the representative of the explosive growth, the bank financial balance of nearly 30 trillion, the scale is very large. As the financial information management in the main financial times the very important role in the market, the research is very meaningful. In this era of big information management under the background of the first concepts of financial theory, and The literature review are analyzed; then the financial investment direction and operation mode are analyzed, the main direction of investment with debt investment (including investment bills and credit asset investment), securities investment (including stock investment and bonds investment and other investments), the operation mode mainly includes the bank letter of cooperation mode, the mode of capital asset pool a pool - and of a model; then through optimal scale regression and neural network method to study the influencing factors of the income, and the results were analyzed; then it analyzes the influence of investment direction and mode of operation of the financial revenue, but also by the principal component analysis method to establish the comprehensive evaluation function to evaluate the bank financial products; and finally selects the Milky Way CMB financial win No. 3 financial on the investment operation of the case study. The empirical research has been affected by income The importance is followed by optimal scaling regression to obtain the importance of the influence factors of income: the issue of income type, bank type, mode of operation, the direction of investment object, excess income recorded as management fees and distribution area; analysis of financial importance of the influence of income factors in the investment direction, mode of operation, issue income, type, type of bank by the neural network, the excess return as management fees and distribution area; two methods especially neural network methods influence the investment direction and focus on the mode of operation of income is very significant, and the specific impact of income results. In addition from the comprehensive evaluation of financial income of the top 500 the quantity and the comprehensive performance is higher than that of the two aspects of all financial products mean the proportion of foreign banks can get the optimal comprehensive performance, commercial banks in rural areas through the worst; China Merchants Bank Financial win the Milky Way No. 3 financial products get umbrella trust case analysis of structured financial products to invest in the stock market there is a higher risk of bank and the banking sector needs of financial investment operation were summarized and analyzed, found problems in a timely manner to the banking business to strengthen supervision.

【學(xué)位授予單位】：華僑大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F832.2

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本文編號：1581320