| 摘要(英) |
As the interest spread narrows and financial business environment gets worse in recent years,the wealth management has been the key business and gradually become the main driver of bank’s profit. In this paper, we collect 150 branches of the investigated bank in the period of 2009-2014 as empirical data in order to explore the determinants that influences the commission revenue of bank’s wealth management business. Then we choose three variable properties of the branches、the characteristics of financial advisors and the attributes of high net worth clients to investigate the relationship with the bank wealth management commission revenue through the OLS model、fixed effects model and random effects model .
For the variable of branch properties, the number of high net worth clients、qualified insurance sales and the southern region has more explanatory power and reveals a significant positive impact on the commission revenue of wealth management business.As for the variable of financial advisor characteristics, it shows that the working years、the number of license and marital status has more explanatory power in the OLS model, where the working years and number of license presents a significant positive effect while marital status presents a significant negative effect. In the fixed effects model, the number of license has more explanatory power and shows a significant positive effect. In the random effects model, marital status shows explanatory power and significant negative effect. As for the variable of the attributes of high net worth clients, it seems has no explanatory power in any models.
From this study, we can conclude that the commission revenue of wealth management has more correlation with the properties of branches and the characteristics of financial advisors, while the attributes of clients shows a weak correlation.Thus, the bank should emphasize on strengthening their internal resources, including focus on high net worth clientsand encourage the staff to get financial licenses. Besides, it will be better for the bank to choose the one that is senior、single and with financial certificate as the financial advisor. The headquarter can also take these variables above into consideration when setting up the principles forevaluating the performance of branch’s wealth management business in order to establish a fair assessment system and to promote the sound development of business. |
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