商业银行净利差决定因素的实证探讨.docVIP

商业银行净利差决定因素的实证探讨 Determinants of commercial bank net interest margin of empirical study 净利差(Net Interest Margins, NIM)不仅是商业银行利润的重要来源，而且是衡量商业银行效率的重要指标(Demirgiiu－Kunt, 1999)，越来越被学界关注。净利差反映金融中介在资源配置中的交易成本，高利差往往意味着效率损失(Saunders and Schumacher, 2000)。在我国利率市场化改革不断深化的背景下，研究净利差的决定因素以及各因素的相对重要性，可以揭示出在不确定的市场环境中影响商业银行存贷款定价的因素，不仅有助于提高商业银行在利率市场上的定价能力并改善经营管理水平，而且也有助于金融监管当局更加全面的了解本国银行业的发展水平，进而实施有效的利差管理，提高监管效率。本文主要从理论和实证两个方面对银行净利差决定因素研究的最新进展进行梳理。 Net Interest margin (Net Interest Margins, NIM) is not only a commercial Banks an important source of profits, and is one of the important indicators to measure commercial bank efficiency (Demirgiiu - Kunt, 1999), more and more academic attention. Net interest margin reflect financial intermediation in the allocation of resources and the transaction cost, high spreads often means efficiency loss (Saunders and Schumacher, 2000). Under the background of Chinas market-oriented interest rate reform continued to deepen, the determinants of the net interest margin and the relative importance of various factors, can be revealed in an uncertain market environment factors that influence the commercial bank deposit and lending pricing will not only help improve the ability of commercial Banks in interest rates on the market pricing and improve the management level, but also contribute to a more comprehensive understanding of the financial regulatory authorities, the development level of domestic banking and effective spreads management, improve the regulation efficiency. This article mainly from two aspects of theory and practice for bank net interest margin sorted out the latest progress in the study of decision factors. 一、银行净利差的测算 A measure, a banks net interest margin 自20世纪70年代末开始的金融自由化浪潮以来，利率在金融市场中的资源配置作用日益重要，关于存贷款之间的净利差问题也自然引起了学术界的广泛讨论，净利差的定义目前学界并未取得一致看法。①Ho Saunders(1981)把净利差等同为价差(Spread)或一种溢价(Mark－up)，即等于(利息收入/银行资产)-(利息支出/银行负债)，此后的研究者如Mcshane Sharpe(1985)，Allen(1988)等也基本遵从了这一界定。但Angbazo(1997)指出，虽然净利差和价差都能反映出银行管理信贷风险和利率风险的能力，但并不完全一致，他认为与sp