中国金融控股公司的经营绩效和风险研究

Performance and Risk of the Chinese Financial Holding Companies

在金融危机的大背景下,选取2007年至2013年我国13家样本公司的季度面板数据进行实证分析。结果发现,当面临金融危机等风险冲击时,与独立银行相比,以银行为主导的金融控股公司整体收益水平更高,风险控制能力较强。金融控股公司能够通过优化配置风险管理权,提高整体收益水平和风险管理能力。

We conducted an empirical research based on a sample of 13 companies from the year 2007 to 2013. When faced with various kinds of risk,a financial holding company can improve its ability to control risk by reallocating the ownership of risk,thus reducing operating costs and improving profit. By comparing the performance of the bank-dominated financial holding company with the one of independent companies,we find that the financial holding company ＇profit level is significantly higher than independent banks,whose risk is even higher.