은행 자기자본비율과 자기자본비용 관계

The purpose of the study is to empirically investigate how the higher capital ratio affects the cost of equity using Korean banks between 2002 and 2015. First of all, we estimated the cost of equity in Korean banks. Secondly, we analyzed the impact of the higher capital ratio on the cost of equity in Korean banks. Thirdly, From the perspectives of customer concentration, we analyzed the existence of different impacts between commercial banks and provincial banks. The cost of equity in Korean bank showed the downward trend in the period of 2002~2015. The results showed a decreasing impact of higher capital ratio on the cost of equity in Korean banks. Also, we found out the different impacts of the higher capital ratio on the cost of equity between the provincial banks and the commercial banks. These impacts are also different whether the banks are affiliated to the financial holding companies or not. The results might indicate that the burden of higher capital ratio may not so high as claimed by some banks. The higher capital ratio, which means the soundness of banks, may help to decrease the cost of equity in Korean banks.