| With the full opening of China’s banking industry, China’s commercial banks are facing fierce challenges. Bank role in promoting the national economy, the risk of transmission is very huge. Constantly optimize the bank’s capital structure, improve the governance structure, to improve their competitiveness in the market, and to protect the fundamental way to the stable development of the national economy. Therefore, the bank’s capital structure has a very important practical significance.Analysis of the special nature of the capital structure of commercial banks, summarized refining the important factors affecting the capital structure of China’s commercial banks. Determine the capital adequacy ratio was a measure of the capital structure of commercial banks, the introduction of the special explanatory variables of bank size, asset risk. According to the indicators quantifiable principle, the final selected six indicators of bank size, growth, profitability, asset risk, income tax rate, cost of capital as an explanatory variable, select14listed commercial banks after2004as the research object, using panel data model, the use of multiple linear regression analysis of influencing factors of China’s commercial banks’ capital structure empirical analysis. Firstly, based on the empirical analysis of design, the six indicators of capital adequacy ratio assumptions, capital adequacy ratio of the explanatory variables, six indicators as explanatory variables, multiple linear regression model. Listed commercial banks after2004is selected as the sample, and finishing sample data collected. Comparable caliber in order to ensure the representativeness of the sample, the accuracy of the data and indicators, the sample covers the state-owned commercial banks, joint-stock commercial banks and city commercial banks and other commercial banks listed in three categories in2004, listed when the data is not. Secondly, using descriptive statistical analysis of each variable’s maximum, minimum, average, and degree of dispersion. According to the sample characteristics, the use of individual fixed effects panel data model to study the level of significance of each explanatory variable and the explanatory variables. Then, multiple linear regression model F-test and Housman test, to modify the model based on the test results. Acquired corrected model and each variable correlation, and the correlation between variables analyzed. Finally, based on the empirical results, Suggestions are given to optimize the capital structure of China’s commercial banks.The banks’capital structures influence factors of empirical research conclusions: the relationship of bank scale and bank capital structure is not significant; growth and cost of capital are significantly positively correlated to bank capital structure; asset risk, and income tax rates are significantly negatively correlated to bank capital structure. The empirical results support the theoretical analysis, hypotheses and empirical models of the bank’s capital structure. |
