村镇银行股权结构研究

发布时间：2018-06-28 15:08

本文选题：村镇银行 + 主发起行　；参考：《西南财经大学》2013年硕士论文

【摘要】：农村金融历来都是我国金融体系中最薄弱的环节。国有商业银行的撤离,农村信用社经营的垄断与低效等等因素都使得我国农村地区金融供需严重失衡。为解决此问题,迫切需要改革完善农村地区当下的金融体制。村镇银行也正是在这种背景下出现的。作为农村金融组织创新的村镇银行主要是为当地的农民、农业和农村发展提供金融服务。村镇银行是一种制度的创新,是对大型商业银行和合作金融经营模式的重要补充。村镇银行对于活跃我国农村金融市场,有效的改善农村金融服务,支持新农村建设做出了重要的贡献。然而值得关注的是,村镇银行在运行的几年中,尽管其整体态势良好,但仍然有一些矛盾与问题暴露出来,如村镇银行市场定位易偏离服务“三农”目标,支农制度构建有待完善,投资方式、设立方式及投资比例限制等致使村镇银行资金短缺问题突出。主发起行制度以及衍生的股权结构失衡以及村镇银行的独立性问题严重,治理结构存在严重缺陷,存款人利益保护机制缺位等等。因此,有必要详细的了解我国村镇银行股权结构现状,对于目前村镇银行股权结构的存在第一大股东持股明显过高等缺陷,对于其可持续发展产生了不利的影响。通过深入分析我国村镇银行股权结构,探索股权结构优化路径有助于促进和规范村镇银行更好的服务于新农村金融建设。本文在理论探讨的基础上,通过收集公开信息,建立了截止2012年12月末,所有银监会已经批准设立的村镇银行的数据库,并在此基础上进行描述性统计分析,对于我国村镇银行的股权结构现状进行系统详细的描述,然后根据获得的数据建立多元线性回归模型对我国村镇银行的股权结构和经营绩效进行相关分析。从股权约束的角度看。一个合理的公司股权结构应该既避免股权的过度分散。又避免股权的过度集中。股权过度分散易导致股权约束的弱化。进而引发公司“内部人控制”情况下的全体股东利益受损问题;股权过度集中。形成某一股东对公司的绝对控股。则又容易造成“一股独大”条件下的滥用控股权问题。不但中小股东利益受损。而且公司自身的独立性亦难以保障。因此。无论是理论角度还是实践角度。适度集中的股权结构都是公司最有效的股权结构。追求适度集中的股权结构应该是我国村镇银行股权改革的方向和目标。在股权相对分散基础上的相对集中或控股。是村镇银行股权结构的最优选择。本文的章节安排如下：在第一章绪论部分陈述了村镇银行设立的背景、银监会的政策等以及本文的研究意义、文献综述、主要方法和逻辑结构。第二部分是对本文所采用的数据的一个简单的说明,第三部分是对目前股权结构理论的阐述,并说明了股权结构和公司治理的关系以及对激励机制和经营绩效的影响。第四部分是结合获取的数据从发起行的种类、注册资金还有发起行对股权结构的影响还有少数股东等方面系统的描述我国村镇银行股权结构的现状。第五部分是从实证的角度说明现有的股权结构是和村镇银行的绩效呈负相关关系的。第六和第七部分讲述了我国村镇银行股权结构现状的原因和影响,并且提出了本文对于村镇银行股权机构优化的目标和路径,最后第八章提出了相关配套的政策建议。
[Abstract]:Rural finance has always been the weakest link in China's financial system. The withdrawal of state-owned commercial banks, the monopoly and inefficient management of rural credit cooperatives have made the financial supply and demand in rural areas seriously unbalanced. The village bank is an innovation of the local farmers, agriculture and rural development. The village bank is an innovation of the system. It is an important supplement to the large commercial banks and the cooperative financial management model. The village bank is effective for the active rural financial market in China. It has made important contributions to improving rural financial services and supporting the construction of new countryside.
However, it is worthy of concern that in the years of the village and town banks, although the overall situation is good, there are still some contradictions and problems exposed, such as the market positioning of the village bank is easy to deviate from the "three rural" targets, the construction of the supporting agriculture system is to be perfected, the way of investment, the method of setting up and the limit of investment ratio, etc, which lead to the capital of the village and town bank The problem of shortage is prominent. The main departure system and the unbalance of the equity structure and the independence of the village banks are serious. There are serious defects in the governance structure, the absence of the depositor's interest protection mechanism and so on. Therefore, it is necessary to have a detailed understanding of the ownership structure of the village and town banks in our country and the existence of the current ownership structure of the village and town banks. The first large stockholders' stock ownership is obviously too high, which has a negative impact on its sustainable development. Through the in-depth analysis of the ownership structure of the village and town banks in China, the exploration of the optimization path of the equity structure is helpful to promote and standardize the village banks to better serve the new rural financial construction.
On the basis of theoretical discussion, by collecting public information, the database of village banks which have been approved by all China Banking Regulatory Commission by the end of 12 month of 2012 is set up. On this basis, a descriptive statistical analysis is carried out on the basis of a detailed description of the current situation of the equity structure of the village banks in China, and then according to the obtained data. A multiple linear regression model is established to analyze the ownership structure and business performance of rural banks in China.
From the perspective of equity constraints, a reasonable company ownership structure should not only avoid excessive decentralization of equity, but also avoid excessive concentration of equity. The excessive decentralization of equity will lead to the weakening of equity constraints. The absolute holding of the company makes it easy to cause the abuse of controlling rights under the condition of "one stock one". Not only the interests of the small shareholders are damaged, but also the independence of the company is difficult to guarantee. Therefore, both the theoretical and practical angles. The moderate and centralized ownership structure is the most effective equity structure of the public company. The ownership structure in the village and town bank should be the direction and goal of the equity reform of the village and town banks in China. The relative concentration or holding on the basis of the relative decentralization is the best choice for the equity structure of the village and town banks.
The chapters of this article are arranged as follows: in the first chapter, the background of the establishment of village and town banks, the policy of the CBRC, the significance of the research, the literature review, the main methods and the logical structure are presented. The second part is a simple explanation of the data used in this article, and the third part is the exposition of the current ownership structure theory. And the relationship between the ownership structure and corporate governance and the impact on the incentive mechanism and performance. The fourth part is the status of the ownership structure of the village and town bank in China. The fifth part is the current situation of the ownership structure of the village and town bank in China. It is from an empirical point of view that the existing ownership structure is negatively related to the performance of village banks. The sixth and seventh parts describe the reasons and effects of the current equity structure of village and town banks in China, and put forward the objectives and paths for the optimization of the equity institutions in villages and towns, and the last eighth chapters put forward related matching. Policy recommendations.
【学位授予单位】：西南财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.35

【参考文献】