The Research On The Optimization Of Capital Structure Of Chinese Commercial Banks

With China's rejoining WTO and the financial sectors open up further to the outside world, it has been one of our important task to establish a modern commercial bank system and build up banks' competence of our country. It requires that commercial banks should promote their market competence, improve corporation governance, and optimize capital structure to embrace the challenges of market competition and foreign banks. The capital structure of commercial banks has both the fundamental characters of common company and the special characters of its own.Under the guidance of the capital structure theory, considering the special characters of commercial banks, the paper first commonly analyzes the characters of banking capital structure. Then will analyzes the present situation of China's commercial banks' capital structure in detail. With the development of nearly half of century, China's commercial banks have formed a system in which the wholly state-funded commercial banks take up the most important position and joint stock commercial banks represent the trend of China's commercial banks' future. So the paper analyzes China's commercial banks with the symbol of the above two kind of banks. First, on the basis of the fifteen banks' financial statements, analyzes the different equity structures and the similar debt structures of the two kind commercial banks; second, analyzes concrete factors that affect China's commercial banks and the effect degree on the basis of the practical analysis of fourteen commercial banks using the recent nine years' data; last, with reference to the above analysis, puts forward the suggestions to optimize China's commercial banks' capital structure by two ways, namely capital structure in the bank and governance environment out of the bank.The innovations of the thesis include: (1) with data from annual reports of commercial banks of our country in 2004, make a concrete analysis of the current situations of share ownership structure and debt structure of Chinese commercial bank from two respects of commercial bank of the solely state-owned commercial bank and shareholding system bank separately; (2) with data from annual reports of commercial banks between 1994 and 2002, we adopt multiple regression analysis method to take further study of the main factors to affect the operating performance of capital structure of Chinese commercial banks.