【摘要】 基于我国12家上市商业银行的面板数据,利用非平稳面板数据分析方法和动态调整方法,探讨商业银行的最优资本结构及动态调整过程。研究结果表明在市场竞争环境中,上市商业银行存在一个动态的最优资本结构,市场竞争以及现有资本结构与目标资本结构的差距是资本结构动态调整的重要影响因素。在竞争中出于安全性考虑,上市商业银行会加大资本结构调整来实现稳定的盈利能力和持续的竞争优势。更多还原

【Abstract】 Based on the panel data of twelve listed commercial banks in China,the paper discusses the optimal capital structure and dynamic adjustment process of commercial banks by using nonstationary panel data analysis and dy-namic adjustment approach.The results show in market competition there is a dynamically optimal capital structure of listed commercial banks.Market competition,the differences between existing capital structure and target capital structure are the important factors affecting dynamic adjustment of capital structure.Taking safety into consideration,the commer-cial banks will increase the adjustment of capital structure to realize stable productiveness and sustainable competitive ad-vantages.更多还原