摘要
:本文运用Ho和Saunders(1981)提出的银行净利差(netinterestmargin)决定因素的理论模型并进行拓展,引入了平均运营成本、资产规模和其它因市场不完美引起的因素,采用1996—2003年间的面板数据,运用固定效应模型对中国商业银行的净利差决定因素进行了实证分析。结果发现决定净利差的因素包括:市场竞争结构、平均运营成本、风险厌恶程度、贷款比率、交易规模、隐含利息支付、准备金的机会成本、管理效率、资产规模等。实证结果不仅对商业银行本身提高经营管理水平和增加利润具有重要的价值,而且对政府监管部门制定政策提高社会福利具有一定的指导意义。文章最后根据实证分析结果提出了一些政策含义。
This paper conducts an empirical study on the determinants of Chinese commercial banks＇ net interest margins with the panel data during the period of 1996--2003, applying the extension of Ho and Saunders （ 1981 ） model, which originally identifies the fundamental elements affecting net interest margins. We introduce average operating costs, asset scale, and other factors induced by market imperfection into the fixed effects model, The resuhs discover that the determinants of net interest margin include market competition structure, average operating costs, degree of risk aversion, transaction size, implicit interest payments, opportunity cost of reserve, management efficiency, and asset scale. The empirical resuhs are valuable to both the commercial bank＇s management for their enhancing profitability and the government regulators for their making policy to improve social welfare. Finally, some policy implications are proposed based on the empirical resuhs.
出处
《经济研究》
CSSCI
北大核心
2008年第8期65-76,共12页
Economic Research Journal
基金
中山大学“985工程”港澳研究哲学社会科学创新基地港澳经济研究项目的资助
国家自然科学基金项目“基于社会互动的投资者参与理论”(70703037)的资助
关键词
商业银行
净利差
决定因素
Commercial Banks
Net Interest Margin
Determinant
