Based On 16 Listed A-share Valuation Research Of Commercial Banks

With the development of economic globalization and financial integration,the financial industry plays an important part in every field,in the process of the development of the state and society occupies the important position.As a representative industry in the financial sector,Banks have great capital and commercial value.Finance is also very keen to through a variety of ways to evaluate the value of the commercial Banks to analysis,hope to be able to influence in academic field and social field.For commercial Banks at home and abroad are presented in this paper the current value evaluation research carried on the thorough analysis,it is concluded that China's commercial Banks is undervalued this conclusion,and exploration on the research topic to discuss.First of all,in the first part in this paper,the evaluation method are analyzed and summarized,at the same time through market research to the particularity of China's commercial Banks on the characteristics and relevant arrangement and combined with the particularity to formulate reasonable research train of thought,the market method and income method and our comparative analysis,suitability for basic conditions,according to China's financial market environment and the characteristics of commercial bank itself enterprises select the income method of two-stage dividend discount cash flow method as a way to evaluate the value of the commercial Banks.Secondly,this article to the timeliness and accuracy of the relatively high Wind information data in the database,collecting and statistics of the 16 a-share listed commercial Banks in China from 2008 to 2015 years of financial data,using the DDM model to 16 commercial bank value assessment analysis.Then,based on the latest 16 commercial Banks net assets in the financial statements and the value assessment of enterprise value obtained further 16 price-to-book ratio of commercial Banks,to assess the price-to-book and Wind information in real-time feedback of 16 commercial Banks,comparing the price-to-book found16 evaluation of commercial Banks to be generally higher than the value of the current our country market expectations,finally draw the conclusion: the value of China's commercial Banks is still undervalued.In the end,this paper combined with the domestic financial environment and the development trend of Internet economy,analyzes the main cause of our country commercial bank value underestimated,and on this issue from the operation and management,social and market development,innovation and service,andplanning from four aspects to our country commercial bank put forward a series of development and improvement Suggestions,hope to help our country commercial bank effectively to maximize its value,to the society and the market prove its own has higher enterprise value and solve our country commercial bank by society and the market underestimated the value of the status quo.