本文選題：商業(yè)銀行 + 活期付息存款賬戶　； 參考：《西南財經(jīng)大學(xué)》2016年碩士論文

【摘要】：20世紀(jì)70年代以來,世界經(jīng)濟(jì)發(fā)展與國際金融形勢都發(fā)生了巨大的改變,促使美國在內(nèi)的西方發(fā)達(dá)國家的銀行也經(jīng)歷了一場大變革。經(jīng)營環(huán)境的改變使銀行面臨著巨大的外部壓力,對盈利性的追逐從內(nèi)部推動了經(jīng)營模式的轉(zhuǎn)變,而科技的迅速發(fā)展則為金融創(chuàng)新提供了強(qiáng)大的技術(shù)支持。美國各商業(yè)銀行為適應(yīng)現(xiàn)狀紛紛調(diào)整發(fā)展策略,改變傳統(tǒng)的盈利模式,將中間業(yè)務(wù)的發(fā)展放在主要位置,而作為銀行中間業(yè)務(wù)收入項目中的一種,賬戶管理費(fèi)也成為銀行利潤的重要構(gòu)成部分。盡管對存款賬戶進(jìn)行管理費(fèi)的收取在美國已經(jīng)是非常普遍的情況,但是卻沒有足夠的文獻(xiàn)資料對其具體實施行為進(jìn)行研究,大部分資料僅從賬戶管理費(fèi)收取的原因進(jìn)行分析,僅有少量資料對其費(fèi)用水平的影響因素進(jìn)行了探索。那么,美國商業(yè)銀行又是如何逐步從提供免費(fèi)賬戶轉(zhuǎn)而進(jìn)行費(fèi)用收取的呢?銀行又是按什么樣的標(biāo)準(zhǔn)確定產(chǎn)品和服務(wù)價格的呢?商業(yè)銀行賬戶管理費(fèi)的不同又是基于什么樣的原因考慮呢?在存貸差額逐漸縮小的現(xiàn)今,商業(yè)銀行已經(jīng)無法光靠存貸款等傳統(tǒng)業(yè)務(wù)獲取足夠的利潤,美國商業(yè)銀行對產(chǎn)品和服務(wù)的設(shè)計,都將對中國商業(yè)銀行的產(chǎn)品定價研究起到重要的啟發(fā)和借鑒作用。本文從金融業(yè)最為發(fā)達(dá)的美國入手,在對美國活期付息存款賬戶管理費(fèi)影響因素進(jìn)行研究時,按照理論與實證相結(jié)合的思路。首先分析賬戶管理費(fèi)收取的原因及其影響因素的理論依據(jù),其次對分析所得理論進(jìn)行實證檢驗,最后對實證結(jié)果進(jìn)行解釋和總結(jié)。文章主要包括導(dǎo)論、概念界定與相關(guān)理論、美國銀行存款業(yè)務(wù)發(fā)展?fàn)顩r、理論分析、活期付息存款賬戶定價、實證分析和總結(jié)七個部分。第一部分：導(dǎo)論。這一部分主要闡述本文的選題背景、研究目標(biāo)、研究內(nèi)容、分析方法,介紹全文整體構(gòu)架和創(chuàng)新點。賬戶管理費(fèi)的收取關(guān)系著客戶的選擇和銀行利潤的實現(xiàn),但由于國內(nèi)外對其定價進(jìn)行研究的文獻(xiàn)資料都比較少,并且大多偏向?qū)υ虻慕忉?僅有少量文獻(xiàn)對其影響因素進(jìn)行分析,而因此具有較大的研究價值。第二部分：首先,通過概念界定明確本文的研究對象一一活期付息存款賬戶管理費(fèi),并對其進(jìn)行簡單的描述。由于美國對存款賬戶采取分開定價的模式,因此在接下來的研究中都將把活期付息存款賬戶的定價分解為利率定價和服務(wù)定價兩個部分。其次,通過對銀行產(chǎn)品定價、利率定價和服務(wù)定價相關(guān)理論的闡述,梳理出研究對象產(chǎn)生的原因以及文章的研究方向。最后,對所研究對象的相關(guān)文獻(xiàn)進(jìn)行梳理。在進(jìn)行資料查閱時,大部分對利率定價影響因素進(jìn)行分析的文章都將焦點集中在市場因素方面,這也是由美國利率自由化條件下各銀行利率主要由市場利率決定的環(huán)境所致。由于較少文獻(xiàn)將關(guān)注點集中在銀行特征和賬戶特征上,因此本文在分析時會更加注重對這兩方面因素的研究。而賬戶服務(wù)定價方面的文獻(xiàn)仍然集中于對其產(chǎn)生原因的探求,只有少部分考慮到對其影響因素的分析,并且考慮到的因素以賬戶特征為重點,因此在本文的實證分析中也將加入更多銀行特征進(jìn)行相關(guān)關(guān)系研究。第三部分：通過對美國銀行存款服務(wù)的發(fā)展與現(xiàn)狀進(jìn)行簡單總結(jié),引出銀行存款賬戶及賬戶管理費(fèi)的變化情況。在對活期付息存款賬戶形式、特點及賬戶管理費(fèi)收取情況進(jìn)行研究時,通過花旗銀行、美國銀行和南方銀行的真實案例分析得出美國活期付息存款產(chǎn)品設(shè)計及其構(gòu)成要素,主要包括：利率、開戶起點、日均余額、優(yōu)惠和服務(wù)、懲罰(賬戶管理費(fèi))等。而活期付息存款賬戶的定價研究一般包含兩點：一點是明確定價,通過利率定價向存款人所存款項支付一定的使用費(fèi)；另一點是隱含定價,通過賬戶管理費(fèi)的形式對日均余額和享受的優(yōu)惠服務(wù)次數(shù)進(jìn)行規(guī)定,只有在符合日均余額的條件下才能享受免收管理費(fèi)和更多的優(yōu)惠服務(wù)。本文對活期付息存款賬戶管理費(fèi)的研究也通過明確定價(利率定價)和隱含定價(服務(wù)定價)兩部分展開。第四部分：從理論分析的角度說明收取賬戶管理費(fèi)的原因。首先,從銀行利潤最大化角度入手,確定銀行服務(wù)與活期付息存款賬戶最低余額要求之間的關(guān)系,通常情況下最低余額要求越高,存款人所能享受到的免費(fèi)服務(wù)越多；其次,通過利率定價理論對活期付息存款賬戶進(jìn)行利息支付的原因進(jìn)行解釋,通過契約理論對收取賬戶管理費(fèi)這一行為的原因,以及其給存款人帶來的激勵與約束進(jìn)行解釋。最終,得出賬戶管理費(fèi)的收取在一定程度上具有成本彌補(bǔ)、穩(wěn)定存款人行為的功能。第五部分：將活期付息存款賬戶定價原理與方法進(jìn)行細(xì)化,通過對賬戶的分解,確定銀行活期存款產(chǎn)品定價的三因素(利率、開戶起點和日均存款余額),根據(jù)對商業(yè)銀行的經(jīng)營目標(biāo)和定價原則進(jìn)行分析,可以確定該賬戶管理費(fèi)的定價方法。將定價方法分成利率定價和賬戶管理費(fèi)服務(wù)定價兩部分進(jìn)行分開闡述,為實證分析中相關(guān)變量的選取奠定理論基礎(chǔ)。第六部分：運(yùn)用所收集的數(shù)據(jù)對活期付息存款賬戶管理費(fèi)的影響因素進(jìn)行實證分析。以美國不同資產(chǎn)規(guī)模銀行的相關(guān)數(shù)據(jù)為基礎(chǔ),通過描述性分析初步確認(rèn)銀行賬戶構(gòu)成要素之間的相關(guān)關(guān)系后,采用實證的方法對活期付息存款賬戶管理費(fèi)及其賬戶構(gòu)成要素之間的關(guān)系進(jìn)行檢驗。首先假定它們之間具有顯著的相關(guān)關(guān)系；其次選取變量、設(shè)定模型,并且使用Eviews7.2對模型是否存在多重共線性和異方差的情況進(jìn)行檢驗,通過模型求得相關(guān)系數(shù)和顯著性水平；最后將理論結(jié)果和實證結(jié)論進(jìn)行對比并分析差異產(chǎn)生的原因。在活期付息存款賬戶管理費(fèi)的變量選取上既包括賬戶特征(利率、開戶起點、日均存款余額),也包括銀行特征(資產(chǎn)、資產(chǎn)增長率、平均資本收益率、平均負(fù)債成本),由于解釋變量與被解釋變量均為連續(xù)變量,因此采用多元線性回歸模型。第七部分：對全文內(nèi)容進(jìn)行總結(jié),并對文章存在的不足進(jìn)行說明。由于本文所涉及的問題并沒有太多的理論支撐,因此在進(jìn)行定價分析時首先對定價的原因進(jìn)行分析,其次才是定價相關(guān)的影響因素,而影響因素的選取也是本文的創(chuàng)新點所在。在利率定價方面,將利率的范圍限定在活期存款賬戶上,不同于以往對市場因素的大量考慮,選取賬戶特征以及銀行特征進(jìn)行回歸分析。在服務(wù)定價方面,也將范圍選定在活期付息存款賬戶上,同時加入更多反映銀行財務(wù)特征、經(jīng)營策略的因素進(jìn)行回歸分析,多方面探求賬戶定價的影響因素。通過分析發(fā)現(xiàn),活期付息存款賬戶利率定價受到日均存款余額、賬戶管理費(fèi)和平均負(fù)債成本的影響,日均存款余額越低、賬戶管理費(fèi)越低、平均負(fù)債成本越低的銀行利率也更低。而活期付息存款賬戶管理費(fèi)服務(wù)定價則受到日均余額、開戶起點、資產(chǎn)增長率和資產(chǎn)收益率的影響,日均余額要求越高、開戶起點越高、資產(chǎn)增長率越高、平均資產(chǎn)收益率越低的銀行賬戶管理費(fèi)越高。而資產(chǎn)對其的影響由于樣本量太小并不顯著,但是在實際調(diào)查中仍能發(fā)現(xiàn)高資產(chǎn)的銀行利率水平更低,賬戶管理費(fèi)水平更高。當(dāng)然,本文的寫作也面臨相當(dāng)多的困難。首先,由于美國對銀行賬戶收取管理費(fèi)的時間僅有20多年,國內(nèi)外都沒有足夠多的文獻(xiàn)對此進(jìn)行研究,因而所能參考的內(nèi)容十分有限；其次,由于樣本所選擇的數(shù)據(jù)較多較雜,需要通過各家銀行網(wǎng)站的公告、年報進(jìn)行搜集,但銀行網(wǎng)站會存在信息更新不及時或賬戶信息缺失的情況導(dǎo)致部分?jǐn)?shù)據(jù)不能采用,因此需要對所收集的樣本進(jìn)行篩查,選取真正對實證有用的數(shù)據(jù),摒棄對結(jié)果的干擾,但也會造成樣本量不夠大的缺點。最后,在變量的選擇和研究方法的選取上也因為參考文獻(xiàn)的不足受到限制,需要通過查閱資料多加斟酌。
[Abstract]:Since 1970s, great changes have taken place in the world economic development and the international financial situation. The banks in the western developed countries, including the United States, have also undergone a great change. The change in the operating environment has made the banks face enormous external pressure. The pursuit of profitability has promoted the transformation of the business model from the internal, and the science and technology The rapid development has provided strong technical support for financial innovation. The commercial banks of the United States have adjusted their development strategies to adapt to the current situation, change the traditional profit model, and put the development of the intermediate business in the main position. As one of the middle business income projects in the bank, the account management fee has also become an important component of the bank's profit. Although the collection of management fees for deposit accounts is very common in the United States, there is not enough literature to study the specific implementation behavior. Most of the data are analyzed only from the account management fee, only a small amount of information has been explored for the factors affecting the cost level. And how does the American commercial bank gradually collect fees from providing free accounts, and what are the standards to determine the price of products and services? What are the reasons for the difference in the management fee of commercial banks? The design of products and services by American commercial banks will play an important role in inspiring and drawing lessons from the design of products and services by the commercial banks of the United States. This paper starts with the most developed American financial industry and studies the factors affecting the management fee of the US current interest payment account. According to the idea of combining theory with demonstration. First, it analyzes the reasons for the charge of account management and the theoretical basis for its influencing factors. Secondly, it makes an empirical test on the theory of analysis, and finally explains and summarizes the empirical results. The article mainly includes introduction, concept definition and related theory, the development of bank deposit business in the United States, and the theory of the development of bank deposits in the United States. This part mainly expounds the background of the topic, the research target, the research content, the analysis method, and the overall framework and innovation point of the full text. The collection of account management fees is related to the customer's choice and the realization of the bank profit, but it is seven parts. At home and abroad, the study of its pricing literature is relatively small, and most of the reasons are biased to explain, only a small amount of literature on its impact factors analysis, and therefore has a greater value of research. The second part: first, through the concept of defining the research object of this paper one by one, the current interest payment account management fee, and A simple description of it is made. As the United States adopts the model of separate pricing of deposit accounts, the pricing of the interest rate deposit account will be divided into two parts in the following research. Secondly, the theory of bank product pricing, interest rate fixed price and service pricing theory will be combed. In the end, most of the articles on the factors affecting the interest rate pricing are focused on the market factors, which is also the main interest rate of each bank under the liberalization of interest rates in the United States. Because less literature focuses on bank characteristics and account characteristics, this paper will pay more attention to the study of these two factors in the analysis, and the literature of account service pricing is still focused on the exploration of its causes, and only a few points are taken into consideration of the factors affecting it. Analysis, and consider the factors that focus on account characteristics, so in the empirical analysis of this paper will also add more bank characteristics to study the relationship. The third part: through a brief summary of the development and status of the bank deposit service in the United States, it leads to the change of bank deposit accounts and account management fees. In the study of the form, characteristics and charge of account management fees of the interest deposit account, the real case analysis of Citibank, the United States bank and the southern bank is used to find out the design and components of American interest payment deposit products, including interest rate, starting point, daily balance, preferential and service, punishment (account management fee) and so on. The study of the pricing of an interest rate deposit account generally includes two points: one is clear pricing, a certain use fee is paid to the depositor's deposit through the interest rate pricing; the other is implied pricing, and the daily balance and the number of preferential services enjoyed by the account management fee are stipulated only in accordance with the conditions of the daily balance. In this paper, the research on the management fee of the current interest deposit account is also carried out through two parts: the clear pricing (interest rate pricing) and the implied pricing (service pricing). The fourth part: from the theoretical point of view, the reasons for the charge of charging account management are explained. First, from the perspective of maximizing the profit of the bank. Starting with the relationship between the bank service and the minimum balance of the current interest payment account, the higher the minimum balance requirement is, the more free services the depositors can enjoy. Secondly, the reasons for the interest payment on the current interest payment account are explained by the interest rate pricing theory, and the charge is collected through the contract theory. The reasons for the account management fee and the explanation of the incentive and restraint brought to the depositors. Finally, it is concluded that the charge of account management has the function of making up the cost to a certain extent and stabilizing the behavior of the depositors. The fifth part is to refine the pricing principles and methods of the current account payment account, and to divide the accounts by dividing the accounts. The three factors (interest rate, starting point and daily balance balance) are determined, and the pricing method of the management fee can be determined according to the business objectives and pricing principles of commercial banks. The pricing method is divided into two parts, which are divided into interest rate pricing and account management fee service pricing separately. The selection of relevant variables in the empirical analysis lays a theoretical foundation. The sixth part: using the collected data to make an empirical analysis on the influencing factors of the cost of the current account management. Based on the relevant data of the Bank of different assets in the United States, the relevant correlation between the elements of the bank account is preliminarily identified by the descriptive analysis. After the Department, the empirical method is used to test the relationship between the account management fee of the current account and its account components. First, it is assumed that there is a significant correlation between them. Secondly, the variables are selected and the model is set, and Eviews7.2 is used to test whether the model has multiple collinearity and heteroscedasticity. The model obtains the correlation coefficient and the level of significance. Finally, it compares the theoretical results with the empirical conclusions and analyzes the reasons for the difference. In the selection of the cost of the account management fee of the current interest rate deposit account, it includes the account characteristics (interest rate, the starting point of the account, the balance of the daily deposit), and the bank characteristics (assets, asset growth rate, average capital). The rate of return, average liability cost), because the explanatory variable and the explained variable are all continuous variables, the multiple linear regression model is adopted. The seventh part: summarize the content of the full text, and explain the shortcomings of the article. Because the problems involved in this paper are not too much theoretical support, the first time is to make the first price analysis. First, the reasons for pricing are analyzed, followed by the factors related to pricing, and the selection of influencing factors is the innovation of this article. In the interest rate pricing, the range of interest rates is limited to the current account, which is different from the large consideration of the market factors in the past, and the characteristics of the account and the characteristics of the bank are selected. In terms of service pricing, we also select the scope of the account in the current interest payment deposit, and add more factors that reflect the financial characteristics of the bank, the factors of the management strategy and the factors that affect the pricing of the accounts. The lower the balance of the average debt cost, the lower the balance of the daily savings account, the lower the account management fee and the lower the bank interest rate of the average debt cost, and the higher the daily balance, the higher the starting point, the higher the starting point, the higher the balance of the daily balance, the higher the balance of the daily balance, the higher the starting point, the higher the starting point, the higher the balance of the daily balance, the starting point of the account, the growth of assets and the yield of the assets. The higher the growth rate is, the higher the bank account management fee is, the lower the average asset yield is, and the impact of the assets on it is not significant because the sample size is too small. But in the actual investigation, the bank interest rate of the high assets is lower and the account management fee is higher. The United States has only 20 years to charge a bank account for management fees. There is not enough literature at home and abroad to study it, so the reference is very limited. Secondly, because the data of the sample are more complex, it needs to be collected through the bulletin of every bank website and the annual report, but the bank website will have more information. New untimely or missing account information results in some data that can not be used. Therefore, it is necessary to screen the collected samples, select the real useful data, abandon the interference to the results, but also cause the shortcoming of the large sample size. Finally, the selection of variables and the selection of research methods are also the reference literature. The shortage is limited, and we need to consider carefully the data.

【學(xué)位授予單位】：西南財經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2016
【分類號】：F831.2

【參考文獻(xiàn)】

相關(guān)期刊論文 前10條

1 鐘晨;;商業(yè)銀行存款產(chǎn)品差別化定價研究[J];經(jīng)營管理者;2014年07期

2 馬運(yùn)全;;我國商業(yè)銀行利率定價機(jī)制研究——基于利率市場化背景下的分析[J];價格理論與實踐;2014年02期

3 劉毅;劉欣;;現(xiàn)行中小商業(yè)銀行差異化存款定價策略淺析[J];中國集體經(jīng)濟(jì);2014年01期

4 陳悅慧;張橋云;;存款利率定價行為差異與擴(kuò)散機(jī)制研究最新進(jìn)展[J];西南金融;2013年08期

5 張橋云;王寧;;我國商業(yè)銀行存款利率浮動幅度影響因素實證研究——基于全國124家銀行的數(shù)據(jù)[J];國際金融研究;2013年05期

6 鐘晨;;利率市場化對我國金融市場的影響——基于國際經(jīng)濟(jì)危機(jī)背景下的實證研究[J];天府新論;2013年02期

7 張橋云;陳躍軍;;中國銀行業(yè)存款產(chǎn)品設(shè)計存在的問題與改進(jìn)建議[J];金融論壇;2009年06期

8 張橋云;李賢;;銀行收取小額存款人賬戶管理費(fèi)的理論依據(jù)[J];財經(jīng)理論與實踐;2008年01期

9 張橋云;;最優(yōu)銀行賬戶管理費(fèi)水平與存款人行為研究——基于銀行擠兌模型的修正與應(yīng)用[J];金融研究;2007年04期

10 秦艷梅;李智;;我國商業(yè)銀行小額賬戶收費(fèi)動因研究[J];北京工商大學(xué)學(xué)報(社會科學(xué)版);2006年03期

，

本文編號：1873573