基于因子分析法的商业银行投资价值研究——以38家上市商业银行为例

Research on the Investment Value of Commercial Banks Based on Factor Analysis—A Case Study of 38 Listed Commercial Banks

摘要: 商业银行是实体经济的关键资金纽带，通过信用创造与信用扩张将资金流入到实体经济。本文选取了2019~2021年间38家年上市银行年报数据，建立综合投资价值评价体系。文章以同花顺公布的上市银行财务分析报告为基础，选取能够反映商业银行资本结构、收益质量、营运能力等多个指标，通过因子分析法，在解决多维信息与主观决断的同时，建立较为全面的评价体系，对商业银行的发展前景进行探究，并为股票增值空间提供借鉴。

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.