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本文利用我国16家上市商业银行2002—2013年的会计数据和市场数据,研究我国上市商业银行收入多样化对其绩效的影响。研究发现,银行收入多样化对其平均资产收益率有显著的正向影响,进一步地,对国有控股上市银行而言,收入多样化正向影响其平均资产收益率的同时,也增加了其平均资产收益率的波动,且这种波动的消极影响超过了对平均资产收益率的积极影响,因而整体上降低了国有控股上市银行经风险调整的平均资产收益率。从银行股票市场收益及其波动性来看,银行收入多样化降低了总体样本银行的总风险和具体风险,降低了非国有控股上市银行的违约风险,而增加了国有控股上市银行的违约风险。
This paper uses the accounting data and market data of 16 listed commercial banks in China from 2002 to 2013 to study the impact of income diversification of listed commercial banks on their performance. The study found that the diversification of bank income has a significant positive impact on the average return on assets. Further, for the state-controlled listed banks, the diversification of income positively affects the average return on assets and meanwhile increases the average And the negative impact of such fluctuation exceeds the positive impact on the average return on assets, thus reducing the risk-adjusted average return on assets of the state-controlled listed banks as a whole. From the perspective of bank stock market returns and its volatility, the diversification of bank income reduces the total risk and specific risk of the overall sample banks, reduces the default risk of the non-state-controlled listed banks and increases the default risk of the state-controlled listed banks.