城市商业银行股权结构对经营绩效的影响研究

发布时间：2018-03-11 13:13

本文选题：城市商业银行　切入点：股权结构　出处：《山东大学》2017年硕士论文　论文类型：学位论文

【摘要】：20世纪90年代,国务院为了整顿地方金融秩序,分散地方金融风险,在城市信用社的基础上通过地方财政、城市企业以及地方居民投资入股的方式组建了城市商业银行,设立之初的目的是服务当地居民、扶持地方中小企业发展以及支持当地经济建设。近年来,城市商业银行规模逐渐壮大,在解决地方企业融资瓶颈、促进地方经济增长方面取得了不错的成效。但与发展规模较大的国有银行与股份制银行相比,城市商业银行在经营绩效方面仍然存在着较大的差距,主要原因出在内部公司治理方面。虽然一部分城市商业银行已经建立了公司法人治理结构,但股权结构仍不合理,如普遍存在的政府持股现象、政府及其"一致行动人"持股比例过高等现象,在一定程度上制约了公司治理机制效果的发挥,使得城市商业银行的风险承担增加,经营绩效有所下降。虽然已有研究从公司治理的视角考察股权结构对银行绩效的影响,但大多研究将城商行作为一般商业银行处理,忽略了城商行的特殊性与目的性,或只是选取了某地区某几家城市商业银行作为样本进行研究,考察股权结构对银行盈利能力和不良贷款率的影响,并没有很好地衡量银行的综合经营绩效,也鲜有利用实证分析考察影响机制的研究。本文的研究以全国范围内的88家城市商业银行为样本,在衡量城商行综合经营绩效指标方面进行创新,从盈利能力、安全能力和流动性这传统的"三性"方面入手,横向、纵向比较了城商行的政府股权结构对城商行经营绩效的影响,并利用主成分分析法,从"三性"指标入手,结合资产指标和发展能力指标,构建了综合反映经营能力的综合经营绩效指标。通过构建面板数据模型,利用实证分析法深入考察了城商行现行股权结构对综合经营绩效的影响。在此基础上根据城商行的经营现状,选择政府股权——信贷行为——经营绩效这一途径来分析城商行股权结构对经营绩效的影响机制,并从贷款规模、期限、行业分布和集中度四个方面对信贷行为进行衡量,加入了股权结构与信贷行为的交叉项,运用理论结合实证的方法来分析政府股权结构如何通过影响城商行的信贷行为作用于综合经营绩效。此外,根据所处城市的宏观经济差异,分类考察了发达程度不同区域的城市商业银行的影响效果。结合理论分析与实证的结果可以发现,城商行的政府股权结构对综合经营绩效有显著的负向影响,且随着地方财政股以及作为"一致行动人"的地方国有法人持股比例的增加,城商行的综合经营绩效显著下降。具体而言,政府控股会通过影响城市商业银行的信贷行为,如增加贷款规模、提高贷款集中度,延长贷款期限和增加建筑业贷款、房地产贷款同时减少批发零售业贷款、制造业贷款来降低城商行的综合经营绩效。另外,政府持股通过适当地增加基础设施行业贷款能够在一定程度上提高城商行经营绩效,且该结果在较为落后的三线及以下地区城商行更为显著。实证结果也显示,发达城市的城商行更支持政府持股的"政治观",而位于落后城市的城商行反而更多地表现出政府持股的"发展观",从某种意义上说明了落后地区政府持股的合理性。最后,本文结合理论和实证分析的结果,从优化城商行股权结构,合理稀释地方政府及其一致行动人持股比例、适时引入合格境外战略投资者,加强内、外部监督管理等角度提出了政策建议,旨在提升我国城市商业银行的综合经营绩效,更好地服务地方经济发展。
[Abstract]:In 1990s, the State Council in order to rectify the local financial order, decentralized local financial risk, the city credit cooperatives based on the local finance, city enterprises and the way of investment shares of local residents formed a city commercial bank, at the beginning of the establishment of the aim is to serve the local residents, to support the development of small and medium enterprises and support local economic construction in recent years. City Commercial Bank, gradually expand the scale, to solve the financing bottleneck of local enterprises, and achieved good results in promoting local economic growth and development. But large scale state-owned banks and joint-stock banks, city commercial banks, there is still a gap in terms of performance, the main reason of internal governance in the company. Although a part of the city commercial banks have established the corporate governance structure, but the ownership structure is not reasonable, such as pervasive political The Government Shareholding Phenomenon, the government and the "concerted action" shareholding ratio is too high, to a certain extent restricts the effect of corporate governance mechanism of the play, making the risk of city commercial banks bear the increased business performance decline. Although the effect has been studied from the perspective of corporate governance ownership structure on the performance of the bank, but most of the research the city commercial banks as a general commercial banks, city commercial banks ignore the special nature and purpose, or only selected a few city commercial banks in a region as the research sample, the influence of ownership structure on bank profitability and the rate of bad loans, is not a good measure of bank comprehensive performance, but also the little empirical analysis influence mechanism. This paper studies on the 88 city commercial banks nationwide as a sample, to measure the comprehensive performance of City Commercial Banks The index from the aspects of innovation, profitability, safety and liquidity for the ability of the traditional "three" aspects, transverse, longitudinal comparison of effects of government ownership structure of city commercial banks of city commercial banks operating performance, and using principal component analysis method, starting from the "three" index, combined with the asset index and development capacity index. Comprehensive performance indicators reflect the ability of management. By constructing a panel data model, the empirical analysis examines the impact of ownership structure on the existing city commercial banks comprehensive performance management. Based on the operating status of city commercial banks, analysis of the impact mechanism of city commercial banks ownership structure on the operating performance of the choice of government equity, credit behavior business performance this way, and from the size of the loan period, the industry distribution and to measure the degree of credit behavior four aspects, the ownership structure and The cross term credit behavior, using the theory with analysis of governmental ownership structure how to influence the credit behavior of city commercial banks in the comprehensive performance of the empirical method. In addition, according to the difference of the macroeconomic effects of the city, the classification effect developed degree in different regions of the city commercial banks. Based on the results of theoretical analysis and empirical it can be found that the government ownership structure of city commercial banks have a significant negative impact on the comprehensive performance, and with the increase of local financial stocks as well as a "concerted action" of the local state-owned legal person shares, city commercial banks comprehensive performance significantly. Specifically, the government controlled by influencing the credit behavior of city commercial banks, such as increasing the size of loans, raising the loan concentration, the extension of the loan period and increase construction loans, real estate loans and reduce the wholesale retail loan Money, loans to the manufacturing sector to reduce the city firm's comprehensive performance. In addition, the government's ownership by properly increasing loans to infrastructure industries can improve the city commercial performance in a certain extent, and the results in the three line area is relatively backward and the city firm is more significant. The empirical results also show that the developed city of the city firm support the government holdings of the "political concept", and the city is located behind the city firm but showed more government ownership "concept of development", in a sense to illustrate the rationality of government ownership in backward regions. Finally, combining with the results of theoretical and empirical analysis, from the optimization of capital structure of city commercial banks, reasonable dilution the local government and the concerted action of shareholding, the timely introduction of qualified foreign strategic investors, strengthen supervision and management in the perspective of external policy suggestions to enhance China's City Commercial Bank The comprehensive management performance will serve the development of the local economy better.

【学位授予单位】：山东大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.33;F830.42

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