论文部分内容阅读
20世纪90年代以来金融衍生品高速发展,品种越来越多,规模越来越大,已成为企业用以对冲财务决策风险使用最多的工具。然而,随着雷曼兄弟的倒下,美国金融危机蔓延全球,人们意识到金融衍生品是一把双刃剑。本文以2012-2014年我国8家商业银行的数据作为样本,运用实证的方法分析了金融衍生品的运用对商业银行业绩的影响。结果表明,金融衍生品的使用没有对商业银行的业绩产生提升作用,相反会使其盈利能力弱化。
Since the 1990s, the rapid development of financial derivatives, with more varieties and larger sizes, has become the most widely used tool for enterprises to hedge their financial decision-making risks. However, with the fall of Lehman Brothers and the global financial crisis in the United States, people realized that financial derivatives are a double-edged sword. Based on the data of eight commercial banks in China from 2012 to 2014, this paper analyzes the impact of financial derivatives on the performance of commercial banks by using empirical methods. The results show that the use of financial derivatives did not improve the performance of commercial banks, on the contrary will weaken its profitability.