摘要
本文以当下我国证券市场五大国有商业银行的价格长期偏低现状、成因和对策为主线开展研究。首先,从分析师视角和学术界的讨论分析了国有商业银行低估值的具体表现,接着指出了“不良贷款的披露不充分、银行的未来成长乏力、存贷利差的持续收窄”等主要成因,最后结合中国特色社会主义估值体系建设,提出了持续优化商业银行估值模型以及区分不同资本业务分部的估值法,关注影响商业银行估值的非财务因素等多项举措。期待本文能够为我国国有大型商业银行的估值和定价回归合理水平提供一定的启发。
This paper focuses on the current situation,causes and countermeasures of the low pricing of China's five major state-owned commercial banks in the securities market.First,the paper analyzes the specific performance of low valuation of state-owned commercial banks from the perspective of analysts and academic discussions,and then points out the main causes such as insuficient disclosure of non-performing loans,weak future growth ability of banks,and continuous narrowing of deposit and loan spreads.Finally,under the background of the construction of the valuation system of socialism with Chinese characteristics(special valuation),this paper puts forward several measures such as continuously optimizing the valuation model of commercial banks,putting forward the valuation method to distinguish different capital business segments,and paying attention to non-financial factors affecting bank valuation,so as to expect the valuation and pricing of China's large state-owned commercial banks to return to a reasonable level.
作者
周蕾
丁静
张礼风
赵敏
Zhou Lei;Ding Jing;Zhang Lifeng;Zhao Min
出处
《管理会计研究》
2023年第5期72-83,共12页
MANAGEMENT ACCOUNTING STUDIES
关键词
国有商业银行价值
中特估
估值模型
Value of State-Owned Commercial Banks
the Valuation System of Socialism with Chinese Characteristics
Valuation Model
