The Research On The Optimization Of Capital Structure Of Chinese Listed Commercial Banks

With the gradual opening of China’s financial markets,thelisted commercial banks in our country have to face up more and more competitors from all over the world.So the improvement of modern commercial bank system and improve competitiveness are our primary task at present. Our listed commercial banks must constantly improve and optimize the capital structure, in case to face the increasingly severe competition with the market and foreign banks.In 2008, the U.S. subprime mortgage crisis, brought a big loss to the world.This crisis directly led to the birth of the "Basel Ⅲ", the agreement indicates to further strengthen the supervision of banks’ capital structure.In 2009, China Banking Regulatory Commission issued the "Supplementary capital on improving the mechanism of commercial banks,"which also indicates the strength of the further capita structure.Above all, how to optimize the bank’s capital structure reasonably, to meet the increasingly stringent regulatory requirements, is the main problem to deal with now.First of all, the paper reviews the capital structure theory,considering the particularity of Banks’ capital structure, analyzes the characteristics of the capital structure of the listed commercial banks.Then, combined with the actual situation in our country, the paper analyzes the current situation and the existing problems of listed commercial banks in China,and obtained the problems such as the capital adequacy ratio, the low internal financing ability, the high concentration of shareholding and so on.According to the analysis,the paper puts forward several factors that affect the capital structure of China’s listed from bank, then empirically studies these factors. The datas of the empirical study are 16 listed banks’ annual report data from 2007 to 2013.The methods of the empirical study are principal components analysis and the multiple regression analysis.The results of the empirical study imply that there is a positive correlation between debt to assets ratio and thebank scale, income tax, risk assets ratio,and anegative correlation between debt to assets ratio andpossibility of growth, bank profitability, capital cost.Finally, this article based on the empirical results, considering the characteristics of the capital structure of the listed commercial Banks in China, puts forward several suggestions for the optimization of capital structure, which are equity structure optimization,increase the core capital methods, improve the quality of assets and improve the management of the bond market.