基于EVA視角的我國(guó)上市商業(yè)銀行盈利能力評(píng)價(jià)體系研究
發(fā)布時(shí)間：2018-11-22 07:00
【摘要】：上市商業(yè)銀行的盈利能力是銀行賴以生存發(fā)展的物質(zhì)基礎(chǔ)。在經(jīng)歷了2006年我國(guó)金融業(yè)對(duì)外資銀行全面開放和2008年金融危機(jī)的沖擊之后，商業(yè)銀行目前正在從注重資本規(guī)模的傳統(tǒng)粗放型擴(kuò)張模式向注重風(fēng)險(xiǎn)控制、經(jīng)營(yíng)效益和資產(chǎn)質(zhì)量的集約型增長(zhǎng)方式轉(zhuǎn)變，其經(jīng)營(yíng)管理的目標(biāo)也從單純的規(guī)模的增長(zhǎng)轉(zhuǎn)向了銀行的價(jià)值最大化方面。因此，如何評(píng)價(jià)銀行的盈利能力是否實(shí)現(xiàn)了銀行價(jià)值最大化和增加了股東財(cái)富成為目前我國(guó)上市商業(yè)銀行的投資者和管理者亟待關(guān)注的問題。 經(jīng)濟(jì)增加值(EVA)是20世紀(jì)80年代美國(guó)思騰思特管理公司提出并已經(jīng)被廣泛運(yùn)用的新型財(cái)務(wù)評(píng)價(jià)指標(biāo)，相對(duì)于現(xiàn)行會(huì)計(jì)準(zhǔn)則下計(jì)算出來的會(huì)計(jì)利潤(rùn)，EVA成功的引入資本成本的概念，同時(shí)通過對(duì)相關(guān)科目的會(huì)計(jì)調(diào)整來修正會(huì)計(jì)準(zhǔn)則對(duì)利潤(rùn)存在的潛在誤差和扭曲，能夠克服通過凈利潤(rùn)衡量商業(yè)銀行盈利能力的缺陷，幫助商業(yè)銀行正確評(píng)價(jià)自身的盈利能力，樹立資本成本意識(shí)，因此，本文以EVA指標(biāo)為導(dǎo)向，進(jìn)一步修正以會(huì)計(jì)利潤(rùn)為核心的傳統(tǒng)財(cái)務(wù)指標(biāo)體系,構(gòu)建一個(gè)以傳統(tǒng)盈利能力評(píng)價(jià)指標(biāo)為基礎(chǔ)，以EVA相關(guān)指標(biāo)為核心的盈利能力評(píng)價(jià)體系，從而全面的評(píng)價(jià)商業(yè)銀行的盈利能力。 本文主要采取了理論研究和應(yīng)用分析相結(jié)合的方法。在理論研究方面，本文首先介紹了商業(yè)銀行的盈利模式、概念、相關(guān)的評(píng)價(jià)內(nèi)容和指標(biāo)體系，商業(yè)銀行盈利能力的內(nèi)涵，并對(duì)傳統(tǒng)的盈利能力評(píng)價(jià)指標(biāo)進(jìn)行分析，指出其存在的缺陷是忽略資本成本了和相關(guān)風(fēng)險(xiǎn)因素，因此無法將經(jīng)營(yíng)者的利益與銀行價(jià)值最大化、股東財(cái)富最大化相聯(lián)系。在此基礎(chǔ)上引進(jìn)了EVA理論，系統(tǒng)介紹了EVA的一般概念、理論基礎(chǔ)、計(jì)算公式、會(huì)計(jì)調(diào)整原則和調(diào)整項(xiàng)目，然后利用EVA的評(píng)價(jià)指標(biāo),并結(jié)合商業(yè)銀行實(shí)際確定了其稅后凈經(jīng)營(yíng)利潤(rùn)、資本總額、資本成本率的計(jì)算方法，探索構(gòu)建了上市商業(yè)銀行盈利能力評(píng)價(jià)體系，從理論上與傳統(tǒng)的盈利能力評(píng)價(jià)指標(biāo)進(jìn)行比較分析。在應(yīng)用分析方面，本文以我國(guó)16家上市商業(yè)銀行2009年至2011年的相關(guān)數(shù)據(jù)為樣本數(shù)據(jù)，結(jié)合構(gòu)建的以EVA為基礎(chǔ)的商業(yè)銀行盈利能力評(píng)價(jià)體系為基礎(chǔ)，計(jì)算出各商業(yè)銀行的相關(guān)評(píng)價(jià)指標(biāo)進(jìn)行總體分析。同時(shí)將以EVA為導(dǎo)向修正后的相關(guān)評(píng)價(jià)指標(biāo)值與傳統(tǒng)的盈利能力評(píng)價(jià)指標(biāo)進(jìn)行對(duì)比分析，，反映出以EVA為基礎(chǔ)的商業(yè)銀行盈利能力評(píng)價(jià)指標(biāo)由于考慮了全部資本成本，更能反映銀行真實(shí)的盈利能力。最后提出了在EVA評(píng)價(jià)體系下提高我國(guó)上市商業(yè)銀行盈利能力的意見和建議。
[Abstract]:The profitability of listed commercial banks is the material basis for their survival and development. After the financial industry of our country fully opened to foreign banks in 2006 and the financial crisis of 2008, commercial banks are changing from the traditional extensive expansion mode focusing on capital scale to the focus on risk control. With the transformation of the intensive growth mode of operation efficiency and asset quality, the goal of operation and management has also changed from the growth of simple scale to the value maximization of banks. Therefore, how to evaluate whether the profitability of banks can maximize the value of banks and increase the wealth of shareholders has become an urgent concern for investors and managers of listed commercial banks in China. Economic value added (EVA) is a new type of financial evaluation index put forward by American Stenster Management Company in the 1980s and has been widely used, compared with the accounting profit calculated under the current accounting standards. EVA successfully introduces the concept of the cost of capital, and corrects the potential error and distortion of the profit by adjusting the accounting rules, which can overcome the defect of measuring the profitability of commercial banks by net profit. In order to help commercial banks evaluate their profitability correctly and set up the consciousness of capital cost, this paper, guided by EVA, further modifies the traditional financial index system, which takes accounting profit as the core. This paper constructs an evaluation system of profitability based on the traditional profitability evaluation index and the core of EVA index, so as to comprehensively evaluate the profitability of commercial banks. This paper mainly adopts the method of combining theory research with application analysis. In the aspect of theoretical research, this paper first introduces the profit model, concept, evaluation content and index system of commercial banks, the connotation of profitability of commercial banks, and analyzes the traditional evaluation index of profitability. It is pointed out that its defects are to ignore the cost of capital and related risk factors, so it is impossible to link the interests of the operator with the maximization of bank value and the maximization of shareholder wealth. Based on the introduction of EVA theory, the general concept, theoretical basis, calculation formula, accounting adjustment principles and adjustment items of EVA are introduced systematically, and then the evaluation index of EVA is used. Combined with the actual commercial banks to determine the net operating profit, total capital, capital cost rate calculation methods, explore the construction of listed commercial banks profitability evaluation system, In theory and the traditional profitability evaluation indicators are compared and analyzed. In the aspect of application analysis, this paper takes the relevant data of 16 listed commercial banks from 2009 to 2011 as sample data, and constructs a commercial bank profitability evaluation system based on EVA. Calculate the commercial banks of the relevant evaluation indicators for the overall analysis. At the same time, the relative evaluation index value based on EVA is compared with the traditional profitability evaluation index, which reflects that the commercial bank profitability evaluation index based on EVA takes all the capital cost into account. More can reflect the bank's real profitability. Finally, some suggestions are put forward to improve the profitability of China's listed commercial banks under the EVA evaluation system.
【學(xué)位授予單位】：中國(guó)海洋大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F832.33
本文編號(hào)：2348424
[Abstract]:The profitability of listed commercial banks is the material basis for their survival and development. After the financial industry of our country fully opened to foreign banks in 2006 and the financial crisis of 2008, commercial banks are changing from the traditional extensive expansion mode focusing on capital scale to the focus on risk control. With the transformation of the intensive growth mode of operation efficiency and asset quality, the goal of operation and management has also changed from the growth of simple scale to the value maximization of banks. Therefore, how to evaluate whether the profitability of banks can maximize the value of banks and increase the wealth of shareholders has become an urgent concern for investors and managers of listed commercial banks in China. Economic value added (EVA) is a new type of financial evaluation index put forward by American Stenster Management Company in the 1980s and has been widely used, compared with the accounting profit calculated under the current accounting standards. EVA successfully introduces the concept of the cost of capital, and corrects the potential error and distortion of the profit by adjusting the accounting rules, which can overcome the defect of measuring the profitability of commercial banks by net profit. In order to help commercial banks evaluate their profitability correctly and set up the consciousness of capital cost, this paper, guided by EVA, further modifies the traditional financial index system, which takes accounting profit as the core. This paper constructs an evaluation system of profitability based on the traditional profitability evaluation index and the core of EVA index, so as to comprehensively evaluate the profitability of commercial banks. This paper mainly adopts the method of combining theory research with application analysis. In the aspect of theoretical research, this paper first introduces the profit model, concept, evaluation content and index system of commercial banks, the connotation of profitability of commercial banks, and analyzes the traditional evaluation index of profitability. It is pointed out that its defects are to ignore the cost of capital and related risk factors, so it is impossible to link the interests of the operator with the maximization of bank value and the maximization of shareholder wealth. Based on the introduction of EVA theory, the general concept, theoretical basis, calculation formula, accounting adjustment principles and adjustment items of EVA are introduced systematically, and then the evaluation index of EVA is used. Combined with the actual commercial banks to determine the net operating profit, total capital, capital cost rate calculation methods, explore the construction of listed commercial banks profitability evaluation system, In theory and the traditional profitability evaluation indicators are compared and analyzed. In the aspect of application analysis, this paper takes the relevant data of 16 listed commercial banks from 2009 to 2011 as sample data, and constructs a commercial bank profitability evaluation system based on EVA. Calculate the commercial banks of the relevant evaluation indicators for the overall analysis. At the same time, the relative evaluation index value based on EVA is compared with the traditional profitability evaluation index, which reflects that the commercial bank profitability evaluation index based on EVA takes all the capital cost into account. More can reflect the bank's real profitability. Finally, some suggestions are put forward to improve the profitability of China's listed commercial banks under the EVA evaluation system.
【學(xué)位授予單位】：中國(guó)海洋大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F832.33
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