Empirical Analysis Of Factors Affecting Capital Structure Of Commercial Banks In China

In our country executes reforming and opening before the financial system commercial bank in the period does not exist, until after1978, and gradually began to set up state-owned commercial banks or the people’s Bank of China and the gradual separation,1985is the four major commercial banks, agricultural, engineering, construction. In1987in order to change the domestic banking system, the monopoly phenomenon, in the form of joint-stock commercial banks began mainly officially formed, then gradually emerged include traffic bank,13commercial joint-stock bank. From the beginning of1995, part of the city credit cooperatives after reorganization merged to form cooperative bank. At the same time in order to adapt to China’s open economy, since1982, Chinese mainland gradually began to appear in foreign banks. So far, Chinese commercial banks overall structure has initially formed, branches respectively include state-owned commercial banks, joint-stock commercial banks, city commercial banks, rural credit cooperatives cooperation with foreign banks.The company capital structure perfect is the full realization of financial standard maximum root, is to ensure that the company’s long-term survival and healthy development foundation. The commercial bank is an operating various financial assets and liabilities, to provide financial services to the customers in the commercial characteristics of financial enterprises, and other enterprises by the company law and regulation, the financial goal is to constantly achieve its maximum value of. But the banking industry and the other industry compared with more specificity, commercial banks have capital institutions compared to other enterprise showed remarkable properties, the most obvious characteristic is the equity funding accounted for only a very small proportion, most of the other funds from the balance. In the aftermath of the financial crisis our country economy presents rapid development of the situation, the listed company of our country is experiencing the full implementation of economic opening to the outside world, fierce competition in the international market and market interest rate continues to challenge and impact, in this great opportunity and challenge, our country banking industry to deal with its capital structure implementation of continuous optimization, to ensure the realization of the maximum value target, to improve our country’s comprehensive economic ability level.Along with China’s accession to the world trade organization, China gradually enhance the degree of opening of the financial market, foreign banks in China to develop gradually, make our country banking industry has appeared very fierce competition. Therefore, in order to be able to effectively enhance our country banking industry competition ability in order to achieve the maximization of business value, on the banks of the capital structure research on the future of banking development has very important real significance.On factors affecting capital structure research school establish originated in the last century70’s, both at home and abroad have made initial capital structure influence factor research, but because the sample selection and methodological differences between studies, draw the final conclusion is not the same. In view of the different industries in the enterprise, the enterprise capital structure influence factors on the influence degree and is not the same, so want to find out to all the company’s capital structure influence the same influence factors is very sleepy full, the selected samples of enterprises will directly affect the final results. On the factors influencing capital structure of enterprises on one hand is to the enterprise financial security research, it is implementation of enterprise financial management is an important content, evaluation of enterprise has the value to analyze the capital structure have the rationality; on the other hand is the enterprise capital structure in the company’s management structure volume plays an important the role of. The current businesses in the separation of ownership and management condition, in the enterprise management and ownership has occurred between the agents, commissioned by the relationship, not the same as the capital structure of the enterprise operators stimulation produced is different, the capital structure and the rationality to minimize the cost of agent, change the management structure of the company, in the company’s management process bring into full play the important role. At the same time, the capital structure of Chinese Listed Companies Empirical Study of factors influencing a strong promotion of China’s listed companies financing organization standardization, integration and optimization of the capital structure of the company and promote the further research on the issue of capital structure.This article from the commercial bank’s capital structure characteristics as starting point, the first of China’s banking system are outlined, and a definition of the our country commercial bank capital structure concept machine features. After that, this article on China Commercial Bank’s capital structure compared with the current situation in detail, followed by empirical analysis of commercial banks capital structure influence factor theory foundation. Subsequently, the listed commercial banks’ capital structure influence factor from theory angle were analyzed and made a further empirical study. Finally, the article is aimed at our country at present the current situation of the capital structure of listed commercial banks, combined with the actual development situation of our country economy, draw lessons from abroad to optimize the capital structure, capital structure of Listed Companies in China to put forward the reasonable proposal.According to the empirical analysis shows that, influence of China s listed commercial banks capital structure factors, bank scale, profit level, non-performing loan ratio and non-debt tax shield showed positive correlation relationship, ability and growth characteristics of the secured assets on banks’ capital structure is negatively related to the impact of these factors in contact, the scale of banking operations and growth characteristics of both with and without apparent effect, influence is the most obvious non debt tax shield. When the bank each lifting1%non debt tax shield, will cause banks to raise5.48%of the assets and liabilities ratio.Using the sample data with regression analysis research hypotheses exist between certain extent differences, focusing on performance for the secured assets ability, growth characteristics, non-performing loan ratio and non-debt tax shield effect of bank capital structure on the theory and method of contradiction, can appear more deviation, specific reasons:1samples collected data and range limitation. The2part of calculating formula cannot accurately reflect the variable representing the meaning of.China Commercial Bank’s capital structure influencing factors from theoretical analysis the main cycle of economic development, capital market development, formed on the competition environment, inflation and interest rates, central bank monetary policy, bank scale, profit level, the secured assets ability, growth characteristics, deposit insurance, capital adequacy ratio.This paper is divided into six chapters, the first chapter introduces the background and significance of research, summed up the capital structure content, this article put forward the research methods and innovation. The second chapter studies the characteristics of capital structure of China’s banks, from the bank system, banking structure definition and banking structure characteristics in three aspects to carry on the analysis, for the article on banks’ capital structure present situation and influencing factor analysis of foundation.The third chapter collection in our country at present the equity structure of listed commercial banks related to data analysis of bank capital structure current situation. The fourth chapter from the macro and micro perspective of China’s listed banks the influence factor of the capital structure theory of. Chapter fifth combines the previous theoretical research on China’s listed banks’ capital structure influencing factors empirical study. The sixth chapter in our listed banks’ capital structure situation, put forward to optimize the capital structure of the proposalAccording to the above research, in view of our country actual national condition, draw lessons from American and Japanese banks’ capital structure optimization method, the commercial bank is the capital as a business object business, in our country economy occupies an important position. The bank is a special financial institutions should become the financial investment is an important medium, use of different occasions, regional and industry of the deposit and loan for the transfer of resource economy provided important guarantee. At the same time, the bank is also known as the financial risk of aggregates, therefore the bank management to achieve the goal of both must satisfy the social organization and financing of the maximum value, and the need to continually seek to minimize financial risk, and fully guarantee the stability of business. Put forward to optimize the countermeasure of bank capital structure, specifically:China s listed commercial banks to optimize ownership structure, debt structure optimization of listed banks, improve the internal management of the bank.