Sources of Bank Interest Rate Risk

We investigate bank stocks'sensitivity to changes in interest rates and the factors affecting this sensitivity. We focus on whether the exposure of commercial banks to interest rate risk is conditioned on certain balance sheet and income statement ratios. We find a significantly negative relation between bank stock returns and changes in interest rates over the period 1991–1996. We also find that bank characteristics measured from basic financial statement information explain bank stocks'sensitivity to interest rate changes. These results suggest that bank managers, analysts, and regulators can use this information to assess the relative risk exposure of banks.     

国有商业银行亏损问题研究

由于产权单一、多次降息、资产质量差、无序竞争、财政虚收等十个方面的主客观原因 ,导致了我国国有商业银行严重的经营亏损 ,潜藏着巨大的金融风险 ,但由于有国家信用的强力支撑 ,暂时不会出现金融危机。要解决国有银行亏损问题 ,必须为其创造良好外部环境、进行产权制度改革、发展全能银行和加强金融监管。     

汇金公司增持四大国有商业银行对A股市场的影响——基于市场数据的比较分析

汇金公司作为国有重点金融企业出资人,在证券市场极度低迷时增持四大国有商业银行股份有利于维护市场信心,稳定国内金融形势。通过事件分析法对汇金公司增持公告前后上证指数收益率进行分析,结果表明增持短期提升了上证指数累积非正常收益率,但A股市场对增持的反应程度依次递减。此外,采用邹至庄突变点检验结果表明增持公告短期对上证指数造成了明显冲击,成为市场收益的一个突变点,但并不能影响股市中长期的趋势。由于汇金公司持股比例已经非常高,进一步增持空间有限,因此未来稳定A股市场的手段应该更加多样化,不能仅靠单一的增持。     

中小银行流动性风险的成因及防范策略

中小商业银行在保持高利润前提下产生流动性风险与其资产负债业务构成的不对称性、业务拓展的不均衡性以及主动负债能力弱、市场竞争力弱等特点密不可分,在市场经济不断推进、银行竞争不断加剧的形势下,中小银行应进一步加强流动性风险管理,优化负债与信贷结构,深化网点建设,加大货币市场参与力度.     

上市银行高管人力资本存量与薪酬水平相关性研究

近年来,上市银行高管薪酬备受社会各界关注。通过对沪深两市上市银行2006年至2009年数据进行分析,结果显示：上市银行高管年龄与高管薪酬之间存在显著的正相关关系;高管任期和高管学历对上市银行高管薪酬不具有解释力;上市银行高管薪酬与业绩呈正相关关系,但相关性不显著;银行规模对高管薪酬具有显著的正向影响。可见,高管人力资本水平和公司绩效能够在一定程度上解释上市银行高管薪酬,但解释力度较弱。     

The Impact of Foreign Banks on Monetary Policy Transmission During the Global Financial Crisis of 2008–2009: Evidence from Korea

This article examines the impact of foreign banks on the monetary policy transmission mechanism in the Korean economy during the period from 2000 to 2012, with a specific focus on the lending behavior of banks with different types of ownership. Using bank-level panel data of the banking system in Korea, we present consistent evidence on the buffering impact that the foreign banks, especially foreign bank branches including US bank branches, on the effectiveness of the monetary policy transmission mechanism in Korea from the bank-lending channel perspective during the global financial crisis of 2008–2009.     

商业银行对信贷紧缩的应对与思考

为抑制经济过热等问题,紧缩性货币政策成为目前及未来一段时期内货币政策的必然选择。央行通过对存款准备金率、利率等连续多次调整,明显加大了运用货币政策工具进行宏观调控的力度,同时对商业银行的经营战略和盈利能力也将产生一定的影响。商业银行应积极响应紧缩的货币政策,进一步转变经营理念,积极应对挑战。     

Social aspirations in European banks: peer-influenced risk behaviour

We test a sample of 3,586 banks from 33 European countries to determine whether performances above or below a social aspiration level (median performance of peer banks) influence banks’ aggregate risk levels. Our results are consistent with the behavioural theory of the firm and prospect theory in that we find that bank performance below a bank’s social aspiration level is followed by increased aggregate risk, i.e. risk-taking behaviour in the subsequent year. Although under-performing banks tend to be risk-takers, large banks and banks with high aggregate risk levels tend to limit the increase in their aggregate risk levels.     

股份制商业银行公司治理绩效的实证分析

作为银行治理研究中的重要内容之一--股份制商业银行公司治理绩效的研究近年来受到较多的关注.本文采用2001-2004年间9家股份制商业银行的23份年报样本为依据,对我国股份制商业银行的治理结构及其与银行绩效的关系进行实证分析.回归分析的结果表明:股权结构对股份制商业银行的绩效产生了负面的影响;董事会规模、董事会会议次数不是影响银行绩效的重要因素;高管人员薪酬对银行绩效有正面的影响.