Research on the Dynamic Adjustment Mechanism of Capital Structure of Listed Banks

摘要

It seems very urgent to study determinants and dynamic optimization mechanism of capital structure of China's listed banks. Meanwhile, it can help China's listed banks reduce financing costs, effectively controls risks, improve the commercial value of banks and provide proposals on theoretical and empirical aspects. Domestic and foreign scholars have obtained more mature conclusions for researches on the company's capital structure. However, researches on the capital structure of banks, especially listed banks, have not gotten more mature theory yet. Especially in China, researches on the capital structure of listed banks have serious deficiencies. This paper takes dynamic continuoustime theoretical model to study the dynamic adjustment mechanism of the capital structure of China's listed banks. The results of the theoretical model show that the profitability of banks, the growth of bank assets and the volatility of the yield rate of bank assets are correlated to the capital structure of banks.