CAJ | 학술논문

本文理论和实证研究了资本结构对农村信用社风险行为及经营绩效的影响。研究结果表明资本充足率对农村信用社风险行为和经营绩效的影响取决于股权集中度与资本充足率的协同性效应。对于经济发展相对滞后的农村地区，资本充足率提升可有效抑制农村信用社的风险行为，而随着农村经济发展和市场化程度的提升，股金的风险溢价明显为正值的地区，资本充足率对风险的抑制作用需以优化股权结构为前提。为此，随着我国农村经济发展水平的提升，我国农村金融的改革与监管应在注重资本充足程度的基础上，逐步过度到注重对股权结构的优化。
본문이론화실증연구료자본결구대농촌신용사풍험행위급경영적효적영향。연구결과표명자본충족솔대농촌신용사풍험행위화경영적효적영향취결우고권집중도여자본충족솔적협동성효응。대우경제발전상대체후적농촌지구，자본충족솔제승가유효억제농촌신용사적풍험행위，이수착농촌경제발전화시장화정도적제승，고금적풍험일개명현위정치적지구，자본충족솔대풍험적억제작용수이우화고권결구위전제。위차，수착아국농촌경제발전수평적제승，아국농촌금융적개혁여감관응재주중자본충족정도적기출상，축보과도도주중대고권결구적우화。
This paper presents a study on the impact of the capital strcture in rural credit cooperatives on the risk behavior and the business performance. The final conclusion shows that the influence of the capital adequacy ratio on the risk behavior and the business performance relies on the cooperativity between the ownership concetration and the adequacy ratio. The improvement in capital adequacy ratio can significantly restrain risk behaviors in rural credit cooperatives in areas with relatively lagged economic growth. However, with strengthened economic power and raised level of the rnarketization, the shareholding structure optimization should be taken as the precondition in those areas featuring positive equity risk premium. Therefore, China＇ s rural financial reformarion and regulation should attach impotence on the supervision in the capital adequacy ratio and gradually strengthen controls in shareholding structure.