本文選題：信托公司 + SFA模型　； 參考：《華東師范大學》2014年碩士論文

【摘要】：信托行業(yè)在促進和發(fā)展資本市場、緩和投融資兩者間的供需壓力、完善和優(yōu)化資源再分配等方面發(fā)揮著獨一無二的影響與作用。2007年新的“一法兩規(guī)”出臺,為信托行業(yè)的發(fā)展提供了強有力的政策支持,信托行業(yè)資產管理規(guī)模以每年超過40%的速度增長,在2013年末達到了10.91萬億,僅次于銀行業(yè)。但是規(guī)模的快速擴張是否與經營效率提升同步,信托行業(yè)的競爭力是基于政策紅利還是經營績效,能否在我國泛資管時代的來臨中應對挑戰(zhàn),是值得探討的。因此,對信托行業(yè)的整體經營績效和績效影響因素的分析,是促進信托行業(yè)發(fā)展與完善的重要課題。 本文首先在參考國內外金融機構效率研究文獻的基礎上,結合我國信托業(yè)發(fā)展歷程和經營現(xiàn)狀、國外成熟信托經營模式和信托業(yè)經營績效影響因素進行分析,對信托業(yè)經營績效的研究提供理論支持。其次,本文選用國內36家信托公司2008年到2012年的數據,通過隨機邊界分析法(SFA)對信托公司經營績效發(fā)展狀況展開實證分析,并且對影響技術效率的具體要素進行研究。經過實證分析得出：基于效率值而言,我國信托行業(yè)整體效率不高,兩極差距比較明顯；基于效率影響要素而言,信托收益率、信托公司注冊地與技術效率呈顯著的正相關關系,外資參股對我國信托公司的經營績效影響不明顯。最后,基于實證分析,本文提出相應的政策建議：強化分類監(jiān)管、鼓勵金融創(chuàng)新、轉變盈利模式、優(yōu)化公司治理結構,注重培養(yǎng)高素質的員工團隊等。
[Abstract]:The trust industry plays a unique role in promoting and developing the capital market, easing the pressure between supply and demand between investment and financing, perfecting and optimizing the redistribution of resources, etc. It has provided strong policy support for the development of the trust industry, which grew at an annual rate of more than 40 percent to 10.91 trillion at the end of 2013, second only to banking. However, whether the rapid expansion of scale is synchronized with the improvement of operational efficiency, whether the competitiveness of the trust industry is based on policy dividends or business performance, and whether it can meet the challenges in the era of universal capital management in China is worth discussing. Therefore, it is an important task to promote the development and improvement of trust industry by analyzing the overall operating performance of trust industry and the factors affecting its performance. First of all, on the basis of the domestic and foreign financial institution efficiency research literature, combined with the trust industry development process and management status in China, foreign mature trust business model and trust industry performance factors are analyzed. It provides theoretical support for the study of trust industry performance. Secondly, this paper selects the data of 36 domestic trust companies from 2008 to 2012, carries on the empirical analysis to the trust company's operating performance development through the stochastic boundary analysis method (SFAA), and studies the specific factors that affect the technical efficiency. The empirical analysis shows that the overall efficiency of the trust industry in China is not high, and the gap between the two poles is obvious. There is a significant positive correlation between the place of registration of the trust company and the technical efficiency, and the effect of foreign equity participation on the operating performance of the trust company in China is not obvious. Finally, based on the empirical analysis, this paper puts forward the corresponding policy recommendations: strengthen the classified supervision, encourage financial innovation, change the profit model, optimize the corporate governance structure, and pay attention to the cultivation of high-quality workforce.
【學位授予單位】：華東師范大學
【學位級別】：碩士
【學位授予年份】：2014
【分類號】：F832.39

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