【作者】 宋鹏；

【导师】 常世旺；

【作者基本信息】 山东大学 ， 工业工程（专业学位）， 2018， 硕士

【副题名】以我国上市银行为例

【摘要】 伴随着改革开放进程的不断推进,中国的经济发展水平相应也不断提高,作为经济发展中的重要引擎,商业银行发展的步伐也随之逐步加快。作为商业银行生存和发展不可或缺的重要因素,资本结构也越来越受到商业银行管理层以及外部监管层不同程度的重视。从学术研究领域的角度来看,商业银行资本结构问题一直以来都是微观金融研究的重要着力点,从当前的研究现状来看,尽管国内外学者针对这一问题进行了广泛而深入的调查研究,但是对于其影响因素并没有达成较为一致的看法。从实证分析的层面来看,学者们基于的角度不同,所选取的指标不同,得到的研究结果也是具有较大的差异性。基于上述背景,本文主要研究了我国上市商业银行资本结构影响因素的问题。首先本文简要分析国内外有关资本结构的理论和研究成果,采用文献综述对主要的结论和观点进行总结分析,并且进一步将其作为实证建模的理论依据和实证参考依据。随后本文利用16家上市商业银行2010年-2016年共28个季度的数据为样本进行实证分析,分别得到以下四个主要结论:(1)以商业银行盈利性、成长性为代表的发展潜力指标对于商业银行资本结构具有显著正向促进作用;(2)以资本充足性、资本风险为代表的风险控制指标对于商业银行资本结构具有显著负向抑制作用;(3)以税收、非债务税盾为代表的税盾效应指标对于商业银行资本结构同样具有显著负向抑制作用;(4)以经济周期、货币政策等为代表的宏观影响指标对于商业银行资本结构是具有显著正向促进作用。最终根据实证结论提出三条政策性建议:(1)充分挖掘各商业银行的发展潜力,提升商业银行经营能力;(2)加强商业银行风险控制,避免系统性风险冲击;(3)建立健全商业银行检查监督机制,完善相关法律法规。更多还原

【Abstract】 With the continuous progress of reform and opening up,China’s economic development level is also improving.As an important engine of economic development,the pace of development of commercial banks is also gradually accelerating.As an indispensable factor for the survival and development of commercial banks,capital structure is also more and more valued by different levels of management and external supervision of commercial banks.From the academic research perspective,the capital structure of commercial banks has been an important focus of financial research,from the current research situation,although the domestic and foreign scholars have extensive and in-depth investigation for the problem,but the influence factors have not reached unanimous opinion.From the perspective of empirical analysis,scholars are based on different angles,the selected indexes are different,and the results obtained are also different.Based on the above background,this paper mainly studies the factors affecting the capital structure of the listed commercial banks in China.First of all,this paper briefly analyzes the theory and research results of capital structure both at home and abroad,summarizes and analyzes the main conclusions and viewpoints through literature review,and further takes it as the theoretical basis and empirical reference basis for empirical modeling.Then the 16 listed commercial banks in the fourth quarter of 2010-2016 a total of 28 quarter data for the empirical analysis,four main conclusions were obtained:(1)index to the development potential and profitability of commercial bank as the representative of the growth has significant positive effect on the capital structure of commercial banks;(2)to the capital capital adequacy and risk as the representative of the risk control indicators for the capital structure of commercial banks has a significant negative effect;(3)to tax,non debt tax shield as the representative of the tax shield effect index also has significant negative inhibitory effect on the capital structure of commercial banks;(4)the macroeconomic impact of the economic cycle,monetary index as the representative of the policy is significant positive effect for the capital structure of commercial banks.Finally according to the empirical results put forward three policy suggestions:(1)to fully tap the development potential of the commercial banks,enhance the management capacity of commercial banks;(2)strengthen risk control of commercial banks,to avoid systemic risk impact;(3)commercial banks to establish a sound supervision mechanism,improve the relevant laws and regulations.更多还原