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论文编号：	8332
作者编号：	2120142485
上传时间：	2016/6/7 19:53:39
中文题目：	监管约束下中国上市银行资本增长与融资行为
英文题目：	Research on Capital Growth and Financing of Listed Commercial Banks of China
指导老师：	王曼舒
中文关键字：	监管约束；银行资本；融资行为；商业银行；巴塞尔协议
英文关键字：	Regulatory constraints；Bank capital；Finance behavior；Commercial banks；Basel Accord
中文摘要：	对商业银行业的风险监督历来是理论与实践关注的焦点。特别是在2008年金融危机后，国际监管标准再次提升，于2010年颁布了《巴塞尔协议Ⅲ》，以微观审慎和宏观审慎监管相结合的思路，构建了全面监管框架。然而，不容忽视的问题是，我国银行业盈利能力较弱，资本净额长期不足，单一依靠内部留存难以满足资本要求，出现了频繁的再融资行为。随着宏观经济的变化，银行业面对主要风险发生了转移。因此，本论文将从银行资本增长、外源融资方式和融资规模的角度，对银行业监管标准的影响作用进行研究，致力于考察监管与银行融资的联动作用，为监管政策制定和银行融资决策提供学术性参考。 本论文选取中国16家上市银行2002-2014年的数据，主要采用实证方法，辅以文献回顾、统计说明、事件研究法等进行研究，具体章节安排如下：第一章介绍了监管变化、宏观经济变化、行业发展历史等，提出了选题背景，梳理了研究思路。第二章首先完成概念界定，其次围绕资本充足率的公式拆解分别进行文献综述。第三章从实践现状和理论推演两方面入手，提出了研究假设。接下来的第四章，以《商业银行资本管理办法（试行）》为事件，分为2002-2012年和2013-2014年两阶段分别实证检验。第五章总结了结论与展望，提出了政策建议和未来进一步研究方向。 实证检验说明，监管标准调整前后的结论有差异。在此之前，低监管压力与资本增长正相关，而较高的监管约束标准呈现负相关；一级资本融资与监管压力负相关；资本留存缓冲越大，融资规模也相应提升，总体上拒绝了研究假设。在此之后，监管压力越大，资本增长越多，缓冲与融资规模则负相关，符合本文的假设。综上我们认为，2012年前监管压力相对于经营压力对银行资本的影响较小；融资环境困难，如渠道少、手续多等也阻碍了资本增长。而2013年当监管压力增加后，特别是重新界定后的一级资本成为焦点，银行面对的融资压力显著提升，融资行为也与科学理论更为相符。
英文摘要：	Due to the destructive power of the 2008 financial crisis, international banking regulation standards improved again. In 2010, Basel III has been issued, which combined with micro and macro prudential supervision in order to build a comprehensive framework. However, the profitability of Chinese banks is poor and the capital of them is hard to meet the standards, so that they had to refinance frequently to achieve capital goals. Therefore, the paper studies the impact of regulation standards on capital growth and refinancing behavior of Chinese banks, for the purpose of providing academic reference to regulators and banking industry. The paper uses the panel data of 16 listed banks in China from 2002 to 2014, and mainly adopts empirical method, literature research, event study method and so on. At first, chapter one introduces the changes of regulation and macro-economy, demonstrating the background and significance of our research. The second chapter is definition of concept as well as literature review based on capital adequacy ratio. The third part is the description of status and the theoretical deduction. Next is the empirical analysis part. Since China implemented the new regulationin 2013, the data is divided into two stages. Final chapter summarizes the conclusions. Our empirical results show that there are differences between the conclusions of two stages. Before 2012, more pressure leads to more capital growth and less tier one capital financing; more capital buffer will enlarge the financing scale. On the contrary, after that the greater the regulatory pressure, the more capital growth, buffer and financing scale is negatively correlated. In summary, we believe that before 2012 regulatory pressure has little effect on bank capital compared with operating pressure. Besides, difficult environment such as the lack of channels and sophisticated procedures is another factor.However, when the regulatory pressure increased, especially the redefining of capital, facts and theories are much closer.
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