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论文编号：	4791
作者编号：	2120102707
上传时间：	2012/12/11 19:54:02
中文题目：	我国上市金融机构风险承担影响因素研究
英文题目：	Risk-taking of financial institute
指导老师：	郝臣
中文关键字：	公司治理 金融机构 风险承担 资产规模
英文关键字：	Corporation Management Financial Institute Risk Taking Asset Size
中文摘要：	近年，由美国次贷危机引发的席卷全球的金融危机，给世界经济带来巨大影响。金融机构的风险承担问题再次成为国内外社会各界关注的焦点。我国学者从公司治理角度对金融机构风险承担问题的分析相对较少，这些分析研究基本出现在2005年以后，多数研究报告都针对于银行风险承担的某个或某几个影响因素进行分析而非金融业风险承担问题分析。其样本与数据源为我国上市商业银行2010年以前的数据。本文将选取目前国内的30家上市金融机构为研究样本，并根据近5年的数据进行实证分析。试图更全面的对我国上市金融机构风险承担影响因素进行量化分析，为我国金融监管及金融机构治理提供借鉴。实证检验发现：在Z指数分析中董事会人数规模越大时，董事会成员之间的沟通障碍、信息传递障碍以及信息失真问题越严重，从而经理人就有机会做出利己的行为，情况严重时会出现“内部人控制”现象，经理人有可能让金融机构过度承担风险。而在个股非系统风险和个股股票收益波动率中，董事会规模和风险承担成负相关。因此，董事会的人数应该适度，不能过多或者过少。另一方面，从第一大股东持股比例、前五大股东持股比例、管理层持股、国有股比例这几个比例的分析中可以看出股权的结构不同会对金融机构产生不同的风险影响，资产规模与风险承担水平呈负相关。这说明资产规模越大的金融机构风险越低。这说明我国金融机构在经历了资产规模扩张后，享受规模经济和风险分散化效应，导致金融机构风险承担水平的降低。
英文摘要：	Recent years, the global financial crisis caused by the American subcrime crisis has exerted huge influence on the world’s economy. Financial institute’s risk taking problem has become the focal point all over the world again. Chinese scholars have less analysis on the problem of financial institutions risk analysis from a corporate government perspective. Those analyses were built after 2005, and most of them were focused on the affect factors of bank risk taking rather than financial risk taking problems. The samples and data resources are based on our commercial banks data before 2010. In this report, it will select 30 financial institutes as samples, and the analysis will be based on most recent 5 years’ data. It tries to quantify the analysis about our financial institute risk taking affect factors, and provide reference about our financial supervision and financial institute management. It is testified by experiment that: when the member of the board becomes larger in the Z index analysis, the communication barrier, information transaction barrier and information distortion become more serious, and the manager has the change to behave to get him more interests. When the problem gets more serious, it appears “inside man control” phenomenon, and the manager has the possibility to make the financial institute to take more risks. While, in a single stock non system risk and single stock return rebound rate, the board size has relations with risk taking. Hence, the member of the board should be appropriate, not too big and not too small. On the other hand, in the analyses of the first stockholder’s stock percentage、the first five stockholders’ stock percentages、management members’ stock percentages and state’s stock percentage, it can be seen that different stock ownership structure will exert different risk influence on financial institute. The asset size has inverse proportion with risk taking ability. This shows that the larger the asset size is, the lower the financial institute risks will be. It indicates that after the asset size expansion of our financial institute, it is affected by scale economy and risk decentralizaiton effect, and this leads to the decrease of financial institute risk taking capability.
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