摘要
银行特许权价值(FV)与银行的冒险动机密切相关,FV高的银行因珍惜其FV,避免破产后被吊销执照,会自动采取审慎的经营战略;反之,FV低的银行则冒险动机强烈,导致银行失败的可能性更大。实证研究表明,国内商业银行单位资本的特许权价值(UBFV)虽然较原先有所改善,并逐渐提高,但取值仍然不高,特别是国有商业银行的UBFV还在零值附近徘徊。这揭示了中国商业银行缺乏自律动机,冒险违规事件屡屡出现的内在原因。中国商业银行只有在金融全球化、一体化的浪潮中准确把握自身优势与不足,努力提高FV,抑制过度冒险冲动,实现审慎经营,才能在全球竞争中立于不败之地。
Bank franchise value has been verified to be connected closely with banks＇ risk-taking incentive. Banks with higher franchise values, which consists of part of the failure costs, will run more prudently. Vice versa, banks with lower franchise values tend to take risks, thus their probability of failure is higher. With refined method, this paper measures 14 domestic banks＇ franchise values from 1994 to 2003, and then uses linear regression method to find factors affecting the franchise values. In the end, on the basis of empirical analysis, correspondent suggestions to improve domestic banks＇ franchise values are given.
出处
《当代财经》
CSSCI
北大核心
2006年第3期40-45,共6页
Contemporary Finance and Economics
关键词
银行特许权价值
冒险动机
面板数据
bank franchise value
risk-taking incentive
panel-data
