CAJ | 학술논문

文章首先从理论上分析了银行资本结构对代理成本的影响机制，然后以7家上市股份制商业银行2007-2014年上半年的半年报和年报数据为样本，按照股权代理成本和债权代理成本分别进行研究，同时将因子分析与多元线性回归方法融合分析，并实证研究。结果表明：股权集中度因子与两类代理成本都表现出明显的负相关关系；资本构成性质因子与股权代理成本正相关，而对债权代理成本没有显著影响；资本风险敞口因子与股权代理成本关系不大，而对降低债权代理成本有积极作用。据此提出相应的政策建议和意见。
문장수선종이론상분석료은행자본결구대대리성본적영향궤제，연후이7가상시고빈제상업은행2007-2014년상반년적반년보화년보수거위양본，안조고권대리성본화채권대리성본분별진행연구，동시장인자분석여다원선성회귀방법융합분석，병실증연구。결과표명：고권집중도인자여량류대리성본도표현출명현적부상관관계；자본구성성질인자여고권대리성본정상관，이대채권대리성본몰유현저영향；자본풍험창구인자여고권대리성본관계불대，이대강저채권대리성본유적겁작용。거차제출상응적정책건의화의견。
First,this paper theoretically analyzes the influence mechanisms of bank’s capital structure on agency costs,then takes semi-annual and annual reports of seven public listed joint-stock commercial banks from 2007 to 2014 as the sample, studies the equity agency costs and the debt agency costs respectively,and integrates factor analysis and multiple linear re?gression analysis to make an empirical research. The results show that:The equity concentration factor has a significant nega?tive correlation with two types of agency costs. The capital structure nature factor has a positive correlation with the equity agency costs,whereas it has no significant influence on the debt agency costs. The capital risk exposure factor has little rela?tionship with the equity agency costs,but it has a positive influence on the reduction of the debt agency costs. Accordingly, the paper puts forward corresponding policy recommendations and opinions.