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Research on the Investment Value of Commercial Banks Based on Factor Analysis—A Case Study of 38 Listed Commercial Banks
DOI: 10.12677/ORF.2023.136605, PDF, HTML, XML, 下载: 127  浏览: 181

Abstract: Commercial banks are the key financial link of the real economy, and they flow funds into the real economy through credit creation and credit expansion. This paper selects the annual report data of 38 listed banks from 2019 to 2021 to establish a comprehensive investment value evaluation system. Based on the financial analysis report of listed banks published by Flush, this paper selects multiple indicators that can reflect the capital structure, income quality, operation capacity and other indicators of commercial banks. Through factor analysis, while solving multi-dimensional information and subjective decision, it establishes a more comprehensive evaluation system, explores the development prospects of commercial banks, and provides reference for stock appreciation space.

1. 引言

2. 文献综述

3. 研究设计

1) 度量指标选取

Table 1. Commercial bank investment value evaluation index selection

2) 数据处理及检验

Table 2. Standardized data descriptive statistics

Table 3. KMO and Bartlett’s spherical test results

Table 4. Common degree of variable factors

4. 上市商业银行评价因子分析

1) 提取公共因子

Table 5. Total variance interpretation

2) 因子旋转与公共因子命名

Table 6. Factor load matrix after rotation

Table 7. Factor naming table

3) 计算因子综合得分

Table 8. Factor score coefficient matrix

$\begin{array}{c}\text{F}1=-0.016Z{X}_{1}-0.006Z{X}_{2}+0.151Z{X}_{3}+0.277Z{X}_{4}-0.026Z{X}_{5}-0.111Z{X}_{6}+0.271Z{X}_{7}\\ \text{\hspace{0.17em}}\text{\hspace{0.17em}}+0.29Z{X}_{8}+0.003Z{X}_{9}-0.318Z{X}_{10}\end{array}$

$\begin{array}{c}\text{F}2=0.363Z{X}_{1}+0.349Z{X}_{2}+0.017Z{X}_{3}-0.038Z{X}_{4}+0.328Z{X}_{5}+0.138Z{X}_{6}\\ \text{\hspace{0.17em}}\text{\hspace{0.17em}}+0.018Z{X}_{8}+0.151Z{X}_{9}+0.044Z{X}_{10}\end{array}$

$\begin{array}{c}\text{F3}=0.061Z{X}_{1}-0.006Z{X}_{2}+0.465Z{X}_{3}+0.187Z{X}_{4}-0.219Z{X}_{5}+0.276Z{X}_{6}+0.128Z{X}_{7}\\ \text{\hspace{0.17em}}\text{\hspace{0.17em}}-0.142Z{X}_{8}-0.394Z{X}_{9}+0.134Z{X}_{10}\end{array}$

Table 9. Listed commercial banks score and rank according to factors

5. 结论及建议

1) 结论

2) 对上市商业银行的建议

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