我国中小银行资本结构与经营绩效关系研究
发布时间：2018-12-20 06:25
【摘要】：资本结构可以体现一个企业的清偿能力、公司治理安排和财务成本。合理的资本结构,可以使企业资金达到良性循环并降低财务风险,进而提高企业的偿债能力和经营绩效水平。中小银行作为特殊的企业,其资本结构必然与经营绩效存在密切的联系。中小银行是我国金融体系的主要组成部分,在现代经济中扮演着极其重要的角色,不少中小银行甚至被认为是未来我国银行业发展的新生力量。伴随着日趋严格的资本监管环境,中小银行在风险管理能力、资金实力、风险定价能力和经营发展能力面临着巨大的挑战。同时,我国中小银行自身资本结构存在严重的问题,如资本结构相对单一、股权集中度较高、附属资本比例偏低和资本充足率较高等,这些问题导致了中小银行综合竞争力和经营绩效水平的低下。随着利率市场化和存款保险制度的进一步推进,我们更应该将中小银行资本结构与经营绩效关系纳入研究范围。通过深入探究中小银行资本结构与经营绩效的关系,不仅有利于优化中小银行资本结构和提高市场竞争力,还有利于提高中小银行的经营绩效水平。因此,深入探讨我国中小银行资本结构与经营绩效的关系,已经成为当前金融界研究的一个重要课题。 本文在分析资本结构理论的基础上,选取中小银行作为研究对象,对中小银行资本结构与经营绩效关系进行了深入研究。希望通过本文研究,以期为研究中小银行资本结构与经营绩效关系提供理论借鉴,并为优化中小银行资本结构和提高经营绩效水平提供理论依据。本文的主要内容分为以下四个部分： 第一部分,理论分析。本文在介绍选题背景和意义、文献综述的基础上,对资本结构理论进行了分析,阐述了资本结构存在的相关理论,并分析了银行资本结构对经营绩效的直接影响和间接影响,为全文奠定了理论基础。 第二部分,现状分析。根据样本银行近年来的相关数据,首先从核心资本、附属资本和资本充足性三方面分析我国中小银行资本结构的现状。接着,从盈利性、流动性、安全性和成长性四个方面,对我国中小银行的经营现状进行了具体分析。通过现状分析,找出我国中小银行资本结构与经营现状存在的问题。 第三部分,实证分析。本文选取我国34家信息披露较为充分的中小银行2007——2012年的数据进行实证分析,采用净资产收益率(ROE)、流动性比率(LIQ)、不良贷款率(NPR)和总资产增长率(TAGR)作为衡量中小银行盈利性、流动性、安全性和成长性的被解释变量；选取第一大股东性质(H)、第一大股东持股比例(CRl)、前十大股东持股比例(CR10)、股本占核心资本比例(EC)、附属资本占总资本比例(SUBC)和资本充足率(CAR)作为解释变量；并且,引入资产规模和经济周期作为中小银行资本结构以外影响经营绩效的控制变量。构建四个面板数据模型,实证检验我国中小银行资本结构与经营绩效的关系。另外,还对样本中的全国股份制商业银行和城市商业银行资本结构与经营绩效关系分别进行回归检验,找出这两类银行的差异。实证结果表明,我国中小银行资本结构与经营绩效有着显著的关系；同时,全国股份制商业银行和城市商业银行的资本结构与经营绩效关系存在着一定的差异性。 第四部分,研究结论与政策建议。综合前文的理论分析和实证分析,本文的研究结论有以下几点：(1)中小银行核心资本与经营绩效存在显著关系。①股权性质方面,第一大股东为国有性质与中小银行经营绩效无显著关系。②股权集中度方面,第一大股东持股比例与中小银行经营绩效无显著关系,前十大股东持股比例与中小银行安全性显著正相关。③核心资本结构方面,股本占核心资本比例与中小银行安全性显著负相关,与成长性显著正相关。(2)附属资本占总资本比例与中小银行盈利性和流动性显著正相关。(3)资本充足率与中小银行盈利性显著负相关,与安全性和成长性显著正相关。(4)中小银行具有一定的规模效应,同时经济周期变动也对中小银行经营绩效存在一定的影响。最后,本文依据《巴塞尔协议Ⅲ》的规定并充分借鉴国外银行的成功经验,提出优化我国中小银行资本结构、提高经营绩效水平的政策建议。具体政策建议如下：第一,优化中小银行核心资本结构；第二,增加和优化中小银行附属资本；第三,保持合理的资本充足率水平；第四,优化中小银行的内外部环境。
[Abstract]:The capital structure can reflect the liquidity of an enterprise, the arrangement of corporate governance and the financial cost. The reasonable capital structure can make the enterprise fund the virtuous circle and reduce the financial risk, so as to improve the debt-paying ability and the operating performance level of the enterprise. As a special enterprise, the capital structure of the small and medium-sized bank must be closely related to the operation performance. Small and medium-sized banks play a very important role in the modern economy, and many small and medium-sized banks are even considered to be the new force of the development of the banking industry in the future. With the increasingly stringent capital supervision environment, small and medium-sized banks face great challenges in risk management, financial strength, risk pricing and operational development capacity. At the same time, there are serious problems in the capital structure of the small and medium-sized banks in China, such as the relatively single capital structure, the high degree of equity concentration, the low proportion of the auxiliary capital and the higher capital adequacy ratio, which have led to the low comprehensive competitiveness of the small and medium-sized banks and the low level of operation performance. With the further development of interest rate marketization and deposit insurance system, we should include the relationship between the capital structure and operation performance of the small and medium-sized banks into the research scope. By exploring the relationship between the capital structure and the performance of the small and medium-sized banks, it is not only beneficial to the optimization of the capital structure of the small and medium-sized banks and the improvement of the market competitiveness, but also to the improvement of the management performance of the small and medium-sized banks. Therefore, the relationship between the capital structure and the performance of the small and medium-sized banks in China has become an important subject of the research in the current financial world. Based on the analysis of the theory of capital structure, this paper makes an in-depth research on the relationship between the capital structure and the operation performance of the small and medium-sized banks as the research object. It is hoped that this paper will provide a theoretical basis for studying the relationship between the capital structure and the operation performance of the small and medium-sized banks, and provide the theoretical basis for optimizing the capital structure of the small and medium-sized banks and improving the level of operation performance. The main contents of this article are divided into four parts: The first part, the reason On the basis of the introduction of the background and significance of the subject, the paper analyses the capital structure theory, expounds the relevant theory of the existence of the capital structure, and analyses the direct influence and the indirect influence of the bank capital structure on the performance of the operation, and lays a foundation for the full text. On the basis of which the second part Based on the relevant data of the sample bank in recent years, the paper first analyzes the capital of the small and medium-sized banks from the three aspects of the core capital, the auxiliary capital and the capital adequacy. The present situation of the structure of the small and medium-sized banks in China is given from the four aspects of profitability, liquidity, security and growth. The analysis of the present situation and the current situation of the capital structure and operation of the small and medium-sized banks in China are found out. The existence of a problem. Third In this paper, the paper makes an empirical analysis of the data of the small and medium-sized banks in 2007 _ 2012 of the 34 information disclosure in China, and uses the net assets yield (ROE), the liquidity ratio (LIQ), the non-performing loan ratio (NPR) and the total asset growth rate (TAGR) as a measure of the small and medium-sized banks. Profitability, liquidity, safety and long-term interpreted variables; select the first large shareholder property (H), the first large shareholder's shareholding ratio (CR1), the top ten shareholders' shareholding ratio (CR10), and the share capital of the core This proportion (EC), the subsidiary capital account for the total capital ratio (SUBC) and the capital adequacy ratio (CAR) as the explanatory variable; and, the introduction of the asset size and the economic cycle as the influence of the capital structure of the small and medium-sized banks The control variable of performance is constructed. Four panel data models are built, and the capital structure and capital structure of the small and medium-sized banks in China are tested empirically. In addition, the relationship between the capital structure and the operation performance of the national joint-stock commercial bank and the city commercial bank in the sample is regressed and tested, and this is found out. The empirical results show that the capital structure of the small and medium-sized banks in China has a significant relationship with the performance of the operation. At the same time, the relationship between the capital structure and the operating performance of the national joint-stock commercial banks and the city commercial banks There's a difference. The fourth part, The conclusions and suggestions of the research are as follows: (1) the core capital and the passage of the small and medium-sized banks There is a significant relationship between the performance of the battalion. In terms of the property of the stock, the first big shareholder is the state-owned and the medium and small-sized bank There is no significant relationship between the operation performance and the management performance of the first big shareholder, and the proportion of the first top ten shareholders and the management performance of the small and medium-sized banks is not significant, and the shareholding ratio of the top ten shareholders and the small and medium-sized silver in that case of the core capital structure, the share capital account for the core capital proportion is negatively related to the safety of the small and medium-sized bank, (2) the proportion of the subsidiary capital and the profitability of the small and medium-sized banks and (3) the capital adequacy ratio is negatively related to the profitability of the small and medium-sized banks, and is closely related to the safety (4) The small and medium-sized banks have a certain scale effect, and the changes of the economic cycle also affect the small and medium-sized banks Finally, based on the provisions of the Basel III and the successful experience of foreign banks, this paper puts forward the optimization of the capital structure of the small and medium-sized banks in China and the improvement of the operation. Policy suggestions on the performance level. The specific policy suggestions are as follows: first, to optimize the core capital structure of small and medium-sized banks; secondly, to increase and optimize the subsidiary capital of small and medium-sized banks; and thirdly, to maintain a reasonable level of capital adequacy ratio; and fourthly, in the optimization
【学位授予单位】：江西财经大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.33
[Abstract]:The capital structure can reflect the liquidity of an enterprise, the arrangement of corporate governance and the financial cost. The reasonable capital structure can make the enterprise fund the virtuous circle and reduce the financial risk, so as to improve the debt-paying ability and the operating performance level of the enterprise. As a special enterprise, the capital structure of the small and medium-sized bank must be closely related to the operation performance. Small and medium-sized banks play a very important role in the modern economy, and many small and medium-sized banks are even considered to be the new force of the development of the banking industry in the future. With the increasingly stringent capital supervision environment, small and medium-sized banks face great challenges in risk management, financial strength, risk pricing and operational development capacity. At the same time, there are serious problems in the capital structure of the small and medium-sized banks in China, such as the relatively single capital structure, the high degree of equity concentration, the low proportion of the auxiliary capital and the higher capital adequacy ratio, which have led to the low comprehensive competitiveness of the small and medium-sized banks and the low level of operation performance. With the further development of interest rate marketization and deposit insurance system, we should include the relationship between the capital structure and operation performance of the small and medium-sized banks into the research scope. By exploring the relationship between the capital structure and the performance of the small and medium-sized banks, it is not only beneficial to the optimization of the capital structure of the small and medium-sized banks and the improvement of the market competitiveness, but also to the improvement of the management performance of the small and medium-sized banks. Therefore, the relationship between the capital structure and the performance of the small and medium-sized banks in China has become an important subject of the research in the current financial world. Based on the analysis of the theory of capital structure, this paper makes an in-depth research on the relationship between the capital structure and the operation performance of the small and medium-sized banks as the research object. It is hoped that this paper will provide a theoretical basis for studying the relationship between the capital structure and the operation performance of the small and medium-sized banks, and provide the theoretical basis for optimizing the capital structure of the small and medium-sized banks and improving the level of operation performance. The main contents of this article are divided into four parts: The first part, the reason On the basis of the introduction of the background and significance of the subject, the paper analyses the capital structure theory, expounds the relevant theory of the existence of the capital structure, and analyses the direct influence and the indirect influence of the bank capital structure on the performance of the operation, and lays a foundation for the full text. On the basis of which the second part Based on the relevant data of the sample bank in recent years, the paper first analyzes the capital of the small and medium-sized banks from the three aspects of the core capital, the auxiliary capital and the capital adequacy. The present situation of the structure of the small and medium-sized banks in China is given from the four aspects of profitability, liquidity, security and growth. The analysis of the present situation and the current situation of the capital structure and operation of the small and medium-sized banks in China are found out. The existence of a problem. Third In this paper, the paper makes an empirical analysis of the data of the small and medium-sized banks in 2007 _ 2012 of the 34 information disclosure in China, and uses the net assets yield (ROE), the liquidity ratio (LIQ), the non-performing loan ratio (NPR) and the total asset growth rate (TAGR) as a measure of the small and medium-sized banks. Profitability, liquidity, safety and long-term interpreted variables; select the first large shareholder property (H), the first large shareholder's shareholding ratio (CR1), the top ten shareholders' shareholding ratio (CR10), and the share capital of the core This proportion (EC), the subsidiary capital account for the total capital ratio (SUBC) and the capital adequacy ratio (CAR) as the explanatory variable; and, the introduction of the asset size and the economic cycle as the influence of the capital structure of the small and medium-sized banks The control variable of performance is constructed. Four panel data models are built, and the capital structure and capital structure of the small and medium-sized banks in China are tested empirically. In addition, the relationship between the capital structure and the operation performance of the national joint-stock commercial bank and the city commercial bank in the sample is regressed and tested, and this is found out. The empirical results show that the capital structure of the small and medium-sized banks in China has a significant relationship with the performance of the operation. At the same time, the relationship between the capital structure and the operating performance of the national joint-stock commercial banks and the city commercial banks There's a difference. The fourth part, The conclusions and suggestions of the research are as follows: (1) the core capital and the passage of the small and medium-sized banks There is a significant relationship between the performance of the battalion. In terms of the property of the stock, the first big shareholder is the state-owned and the medium and small-sized bank There is no significant relationship between the operation performance and the management performance of the first big shareholder, and the proportion of the first top ten shareholders and the management performance of the small and medium-sized banks is not significant, and the shareholding ratio of the top ten shareholders and the small and medium-sized silver in that case of the core capital structure, the share capital account for the core capital proportion is negatively related to the safety of the small and medium-sized bank, (2) the proportion of the subsidiary capital and the profitability of the small and medium-sized banks and (3) the capital adequacy ratio is negatively related to the profitability of the small and medium-sized banks, and is closely related to the safety (4) The small and medium-sized banks have a certain scale effect, and the changes of the economic cycle also affect the small and medium-sized banks Finally, based on the provisions of the Basel III and the successful experience of foreign banks, this paper puts forward the optimization of the capital structure of the small and medium-sized banks in China and the improvement of the operation. Policy suggestions on the performance level. The specific policy suggestions are as follows: first, to optimize the core capital structure of small and medium-sized banks; secondly, to increase and optimize the subsidiary capital of small and medium-sized banks; and thirdly, to maintain a reasonable level of capital adequacy ratio; and fourthly, in the optimization
【学位授予单位】：江西财经大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.33
【共引文献】
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