An Improvement Research On The Assessment Method Of The Present Value Of Income Of Commercial Banks’ Enterprise Value On The Debt Structure

As the core of modern financial system,the operation of commercial banks directly affects the level of financial development and the overall economic growth of a country.With the further development of China’s financial system reform,activities involved with the restructure of bank,financial reorganization and the integration of non-public capital into bank have increased progressively,and so as the capital operations,such as the asset reorganization,sale and merger between commercial banks.And the basis of such related activities are determined by the accuracy of the commercial banks’ own value assessment.Furthermore,whether the commercial banks’ enterprise value can be reasonably evaluated becomes the key to the maturity of China’s capital market.Given debt structure attaches great importance in the operation and management of commercial banks while liability index has not been taken into consideration in the mainstream assessment methods of the enterprise value of commercial banks,this paper is going to analyze the impact of the debt structure of commercial banks on their business value empirically.According to the results of empirical analysis,along with the increase of their asset-liability ratio,the enterprise values of 13 listed commercial banks demonstrate "U" trend on the whole,thus first rise then fall.Whereas,short-term debt ratio and deposit ratio have a significant positive correlation with the enterprise value of commercial banks while long-term debt ratio and active debt ratio the otherwise.Based on the above conclusions,this paper will employ asset-liability ratio,short-term debt ratio,long-term debt ratio,debt ratio and active deposit ratio into the mainstream entity free cash-flow model of commercial banks’ enterprise value evaluation so as to make the assessment of it more accurate.