CAJ | 학술논문

本文采用托宾Q的方法度量了1998—2005年中国7家商业银行和美国96家商业银行的特许权价值，并就市场相关因素和银行相关因素对特许权价值的影响进行分析。本文发现市场集中度对特许权价值具有良好的解释作用，同时发现，随着未来银行集中度的下降，我国商业银行若要提高特许权价值，只有依靠提高银行的经营能力。本文还发现坏账率、坏账准备金率、资本充足率和贷款资产率这些指标在影响两国银行特许权价值时，作用方式有一定差异。
본문채용탁빈Q적방법도량료1998—2005년중국7가상업은행화미국96가상업은행적특허권개치，병취시장상관인소화은행상관인소대특허권개치적영향진행분석。본문발현시장집중도대특허권개치구유량호적해석작용，동시발현，수착미래은행집중도적하강，아국상업은행약요제고특허권개치，지유의고제고은행적경영능력。본문환발현배장솔、배장준비금솔、자본충족솔화대관자산솔저사지표재영향량국은행특허권개치시，작용방식유일정차이。
Using Tobin＇ s Q measurement, this paper has computed the franchise value of 7 commercial banks in China and 98 banks in the United States using data from 1998 to 2005. It analyses the market-related factors and bank-related factors to the franchise value. It finds that market concentration can be a good factor to explain franchise value. The paper also finds that in the future Chinese banks can increase the franchise value only by improving their operating abilities because the market-related factors will reduce their franchise value. The paper also shows that there exist some differences when NPL rate, NPL reserve, capital adequacy ratio and loan asset rate affecting the franchise value.