信贷资产证券化对上市商业银行盈利性影响的实证分析【摘要】我国信贷资产证券化从2012年试点工作重启后，经历了井喷式的发展，发行单位以及发行数量都在随着时间的变化而逐渐增多，发行也日趋常态化。信贷资产证券化的操作流程和交易流程也逐渐步入正轨，证券信贷资产的交易市场也日渐走向成熟。作为一种结构性融资活动，它必然会对商业银行产生一定的影响，因此本文将研究它是如何影响我国上市的商业银行的盈利能力。并且对未来我国商业银行想要发展信贷资产证券化业务提出了一些见解。本文阅读和总结了国内外相关研究，随后对此实证分析，其中选用了从2011年到2017年，七年内15家上市商业银行的数据，选取相关数据，将数据进行整合，并且在加以研究得出了这样的结论，认为信贷资产证券化会使得商业银行的盈利能力下降。其中很大原因是目前开展的信贷资产证券化的规模还比较小、证券化过程的资金回收时间较长、商业银行作为发起人和委托人支付的费用增加了其发行成本等原因导致的。基于以上研究成果，本文结合了我国发展实践以及国际上的先进经验，提出了构建良好市场环境，提高发行积极性；加强风险识别与管控，提高产品质量；完善法律监管体系，预留金融创新空间；扩大基础资产范围和类型，化解存量资产等有关政策建议。【关键词】信贷资产证券化，上市商业银行，盈利性TheEmpiricalResearchontheInfluenceofCreditAssetSecuritizationontheProfitabilityofListedCommercialBanks【Abstract】Theissuingunitsandthenumberofissuancehavegraduallyincreasedwiththechangeoftime,andissuancehasbecomeincreasinglynormalized.Asakindofstructuredfinancingactivity,itwillinevitablyhaveacertainimpactoncommercialBanks.Therefore,thispaperwillstudyhowitaffectstheprofitabilityoflistedcommercialBanksinChina.Inaddition,someopinionsonthefuturedevelopmentofcreditassetsecuritizationbusinessofChina'scommercialBanksareputforward.Thispaperreadsandsummarizesrelevantresearchesathomeandabroad,andthenmakesanempiricalanalysis.Dataof15listedcommercialBanksinsevenyearsfrom2011to2017areselectedtoreflecttherelationshipbetweencreditassetsecuritizationoflistedcommercialBanksandprofitabilityofcommercialBanksinChina.TheresultsshowthatthesecuritizationofcreditassetshasanegativeimpactontheprofitabilityofcommercialBanks.Themajorreasonsarethatthescaleofthecurrentsecuritizationofcreditassetsisstillrelativelysmall,therecoverytimeoffundsinthesecuritizationprocessisrelativelylong,andthefeespaidbycommercialBanksasinitiatorsandclientsincreasetheirissuancecosts.Basedontheaboveresearchresults,thispapercombinedwithChina'sdevelopmentpracticeandinternationaladvancedexperience,putforwardtobuildagoodmarketenvironment,improvetheenthusiasmofdistribution;Strengthenriskidentificationandcontroltoimproveproductquality;Wewillimprovethelegalsupervisionsystemandleaveroomforfinancialinnovation.PolicySuggestionsincludeexpandingthescopeandtypesofbasicassetsanddefusingexistingassets.【KeyWords】CreditAssetSecuritization，ListedCommercialBanks，Profitability目录引言......................................................................................................................................1一、文献综述......................................................................................................................1（一）国外文献综述..................................................................................................1（二）国内文献综述..................................................................................................2（三）文献评述.....................................................................................
