中国上市公司盈利能力影响因素实证分析

本文利用2010年度中国A股上市公司前20强的面板数据,运用主成分分析法和最小二乘估计法,对企业盈利能力影响因素进行实证研究,目的是为增强上市公司的盈利能力,为融资行为、财务决策方面提供建议。     

银行结构与经济发展:中国银行业的实证分析

长期以来，经济学家已经认识到银行业对经济发展的重要性。然而对于一个国家的银行结构对经济增长的影响，学术界却讨论得较少，近几年来对此问题的跨国实证研究也提供了不同的结论。本文通过对中国银行业1986-2003年时间序列数据的回归分析，研究了中国的银行集中度对经济增长的影响。结果表明，中国银行较高的集中度对经济增长有负的影响，尽管这种影响并不明显。     

商业银行盈利能力实证分析

文章使用因子分析法对2007年11家上市银行进行研究。实证分析表明：国有商业银行的盈利表现逊于非国有上市银行。国有银行自身的内部沟通成本和金融产品销售成本大,面临的经营风险高,造成国有上市银行在盈利方面的竞争力弱于非国有上市银行。     

浅析巴西银行盈利能力的决定因素

为确定影响巴西银行盈利能力的因素,将因变量分为银行自身的因素和宏观因素,采用广义矩估计方法(GMM)对2000—2012年13年间巴西的103家银行进行了实证分析。研究发现,巴西银行的盈利能力与滞后的银行盈利能力、管理费用正相关,信贷风险、消费者价格指数(CPI)和实际国内生产总值的增长率(GDP)均与银行盈利能力负相关。     

中国银行盈利能力浅析

商业银行是我国最典型、最重要的金融机构,当今不仅面对外资银行的冲击而且还面对着国内银市场的残酷竞争,因此提高自身竞争力成为商业银行首选的解决途径.在提高竞争力的进程中,盈利能力是我们最应关注的重要组成部分.近年来商业银行采取了一系列的措施去应对挑战,它通过采用资产剥离、改变注资等手段,基本改变了其资产质量差、资本充足率不足等境况,走上了良性运作的轨道,并且展现出很好的发展态势.但在其发展中,仍存在一系列不足,例如盈利模式急需转型、资产质量亟待提高等问题.本文通过借鉴前人研究成果,深入研究中国银行的发展模式,从中国银行自身因素以及外部宏观经济因素等方面去考察银行的盈利能力的影响力,并通过分析这些影响因素的影响程度、作用方式以及显著性,以此得出相关的政策建议.     

中国银行业结构影响因素的实证研究

文章基于产业经济学和宏观经济学理论,利用样本期为1987～2004年的省级面板数据,对我国银行业结构的影响因素进行了实证研究。结果表明,期初银行业结构、市场规模、市场需求成长率、经济增长、经济结构等因素对我国银行业结构的变迁与调整均有较为显著的不同程度的影响;利用时间虚拟变量加以反映的规模经济水平、产品差异程度、进入壁垒等因素对我国银行业结构变迁与调整的影响不大;经济开放、政府干预等因素对我国银行业结构变迁与调整的影响方向与理论预期相反且不显著。最后,在此基础上我们提出了一些政策建议。     

对我国失业问题影响因素的研究

本利用与失业率相关的指标如国民生产总值增长率、国民消费增长率、职工工资增长率、劳动人口指数等建立线形回归模型，利用SAS统计软件包对模型进行了分析；并依据模型结论，从节制工资、促进国内消费、控制人口增长等方面提出解决失业问题的对策。     

基于因子分析法的商业银行盈利因素实证分析

商业银行的三大原则中,盈利性是商业银行的首要原则。盈利能力是商业银行生存和发展的基础,提升盈利能力是提高商业银行竞争力的关键。本文借助SPSS软件运用因子分析法对国内11家商业银行的盈利能力进行讨论,对各项影响商业银行盈利能力的因素采取实证分析的方法,得出相应的结论。     

甘肃省上市公司盈利能力实证研究

上市公司对于促进一个区域经济的发展发挥着越来越重要的作用,其盈利能力也因此愈发受到关注。运用因子分析法,以甘肃省21家非ST上市公司为研究样本,利用其披露的报表数据,对其盈利能力进行评价,确定影响甘肃省上市公司的盈利能力的主要因子,并对其进行评分,从而得到各公司得分排名,以期为各利益相关者决策提供依据。     

西部上市公司盈利能力的实证研究

本文利用净资产收益率指标，对西部地区上市公司进行时间序列和不同行业的比较实证研究，得出该地区上市公司近三年的业绩情况与行业相对优势分布，以供投资者投资参考。     

The determinants and profitability of switching costs in Chinese banking

This article models the determinants of bank switching costs in China in terms of bank characteristics and non-bank variables. It also determines the contribution of switching costs to banks’ profits. Using a sample of 151 banks over the period 2003–2013 it reports a positive relationship between bank profitability and switching costs. The main result is that bank size measured by total assets has a complex relationship with switching costs. Competition between small banks creates the incentive for lock-in and increased switching costs whereas very large banks are less exercised by lock-in and switching costs.     

Testing for profitability and contestability in banking: evidence from Austria

The paper investigates the determinants of banking profitability and banking market conditions in Austria. We conduct a panel econometric analysis which allows for testing the hypotheses which have become the most prominent in the literature on bank profitability: the structure–conduct–performance hypothesis, the efficient‐structure hypothesis and the relative market‐power hypothesis. Further, we test whether Austrian banking markets are, on average, contestable. A newly compiled dataset covering more than 700 Austrian banks ranging over the period from 1995 to 2002 is used to carry out these econometric analyses. The empirical findings support the view that the Austrian banks do exert, on average, some local market power. However, the gains in terms of excess profits are rather minor as a result of low deterrence powers of the incumbent banks.     

商业银行网点布局实证研究——以衡水市为例

网点作为商业银行为客户提供金融服务的主要渠道,其布局合理性不仅关系到商业银行经营业绩和竞争力,也关系到社会服务功能的完善。目前,商业银行网点布局随意性和随机性较强,科学的规划和决策不足,资源的浪费和资源配置效率的低下现象突出。实证分析衡水市商业银行网点布局的各种因素,利用数理模型对商业银行网点选址进行分析和优化,以此提高网点布局的科学性与合理性。     

Intellectual capital and firm performance: evidence from Indian banking sector

In the aftermath of the 2008 financial crisis, the entire Indian banking industry was paralysed and their performance was shattered by the unfolding of enormous cases of Non-performing Assets (NPA). The study estimates the operating efficiency of 40 Indian banks for 5 years (2011–15) as a proxy of performance measure using the output-oriented DEA-BCC model. We find that nearly 62% of the state-owned banks and 47% of the private banks are inefficient indicating that the inefficient banks need to reduce their inputs or improve their output to become efficient. The study further investigates the relationship between intellectual capital (IC) and bank performance using a truncated regression model. The regression results show that out of the three components of intellectual capital, only human capital efficiency is positively and significantly associated with operational efficiency while structural capital and finance capital have a negative impact on the efficiency of banks. The study concludes that to achieve competitive edge banks should invest in their human capital. The results are robust in the case of financial variables taken as a proxy for performance.     

Bank loan versus financial lease: how do traditional and innovative approaches within the banking sector influence economic growth? A comparative analysis between the US and China

ABSTRACT

The argument over the effects of financial structures on economic growth remains unsettled. This study, therefore, compares the dynamic correlation and lead–lag relationship between the different financial approaches within the banking sector (that is, traditional bank loans versus innovative financial leasing) and economic growth. We employ a continuous wavelet analysis using time-series data from 1982–2017 from the US (the world’s largest developed country) and China (the world’s largest developing country). The empirical results show that (1) episodes of significant correlation usually emerge during periods of reform, crisis or policy implementation; and (2) in China, traditional banking promotes economic growth in the long term, while the real economy only imputes the evolution of banks during critical economic reforms in the short term. Meanwhile, financial leasing could only promote the development of the real economy under suitable regulation; and (3) in the US, before the crises, the irrational growth of the real economy could increase bank assets, while during the crises, the traditional banking approach harms economic growth, and after the crises, financial leases play an important role in recovery. Therefore, we suggest that policymakers should establish adequate policies and regulations to solve the situation.     

Re-assessing international stock return predictability: evidence from directional accuracy and excess profitability tests

In this article, we assess the informational content of monthly lagged US excess stock returns for sign and mean predictability of stock market returns in 10 industrialized countries using the directional accuracy and excess profitability tests of Pesaran and Timmermann (1992) and Anatolyev and Gerko (2005), respectively. We find only a limited evidence supporting the earlier findings of Rapach et al. (2013) based on the test of Clark and West (2007).     

Profits persistence and ownership: evidence from the Italian banking sector

The hypothesis that ownership structure affects persistence of profits in the Italian banking industry is tested. The time-invariant components of ROA and ROE are regressed against ownership concentration and the fraction of shares held by the major shareholders. The results show that abnormal profits increase if ownership is concentrated in foundations and banks, and decrease if market forces are allowed to operate.     

我国银行再造实施关键成功因素的实证研究

在对美国企业和银行再造文献中关于成功因素量表进行调整的基础上,对我国银行再造进行了分析.通过因子分析法将影响我国银行再造的指标标量综合简化,甄别主要影响因素.对这些主要因素的研究表明:政府对我国银行再造的支持作用不容忽视,也暗示出股份制银行率先实施再造的原因.     

利率与银行风险承担行为的实证分析

作为货币政策传导机制中的重要中介指标,利率对银行风险承担的影响形式和路径因各国经济金融制度不同而存在差异。以中国银行业为研究对象,选择16家上市银行为样本,就2002~2013年间利率对其风险承担行为的影响进行实证分析。研究结果表明:不良贷款率而不是风险资产比率更适合衡量银行风险承担行为;利率水平与不良贷款率之间的确存在着显著的反向变化关系;银行风险具有动态性和延续性;银行异质性与利率的交互作用尚没有对银行风险产生显著影响。     

To engage or not to engage in corporate social responsibility: Empirical evidence from global banking sector

Whether or not banks should engage in corporate social responsibility (CSR) activities is controversial because of the concomitant high cost even if banks could enjoy the benefits of a higher income as a result of their good reputation. Faced with this dilemma, bank managers are hesitant to engage in CSR. This study pursues this issue by examining whether or not banks engaging in CSR can bring profits and reduce non-performing loans. We apply three novel estimation methods to obtain the unbiased and full-blown CSR effect. The first two methods are matching methods, namely, conventional propensity score matching method and nearest-neighbor variance bias-corrected matching method (nn-VBC). The third method is Heckman's two-step method in switching regression. Regardless of the methods used, CSR banks overwhelmingly outperform non-CSR banks in terms of return on assets and return on equity. Our study offers policy suggestions for both government regulators and bank managers.