中国上市银行特许权价值的自律效应

银行特许权价值是银行风险自我约束的重要机制。本文使用托宾Q值衡量了中国14家上市银行的特许权价值,借助面板数据回归分析对银行特许权价值的自律效应进行了实证检验。结果表明:上市银行特许权价值对反映外部评价的市场风险确实存在着自律效应,但还未对表现为内部风险控制的资本充足率产生显著作用。因国家对银行业提供了全面担保,银行所有制性质对银行风险无显著影响。随着银行业竞争日趋激烈,通过引导商业银行提升特许权价值来激励银行审慎经营并加强内部风险控制,对后金融危机时期中国银行业的健康稳定发展具有积极意义。

The Self-Discipline Effects of the Chinese Listed Bank's Franchise Value

The bank's franchise value is an important mechanism for the bank to restrict its own risks.With Tobin's Q,this paper measures the Chinese 14 listed banks' franchise values and,with the regression analysis of the panel data,examines the self-discipline effects of the bank's franchise value.The results show that,to the market risks that reflect the external evaluation, the listed bank's franchise value has the self-discipline effects,but to the capital adequacy ratio that reflects the internal risk control,i...