境外战略投资者入股对城市商业银行绩效影响的实证研究

发布时间：2018-02-08 17:54

本文关键词： 境外战略投资者城市商业银行绩效　出处：《山东大学》2014年硕士论文　论文类型：学位论文

【摘要】：2001年12月11日,中国正式加入世界贸易组织,开始全面履行“入世”承诺,逐步取消境外金融机构开展业务的地域限制以及其他非审慎性限制,并最终在五年过渡期结束后对外资银行实行国民待遇。在此背景下,外资银行纷纷加快在我国的战略布局,分享我国经济发展的红利。2003年中国银行业监督委员会成立。为应对“入世”的挑战,监管层开启和推动了新一轮的银行业改革。在监管层的鼓励和推动下,交通银行、中国建设银行、中国银行、中国工商银行先后通过“注资——财务重组——引进外资——公开上市”的方式进行改革,引进境外战略投资者成为其中关键的一环。引资之后,国有商业银行的资产质量、创新能力、盈利能力和国际竞争力明显提升,其他大型股份制商业银行纷纷跟进。面对外资银行、国有银行和大型股份制银行的竞争,脱胎于城市合作信用社的城市商业银行面临着巨大的改革压力。为迅速充实资本金,化解金融风险,提升风险管控能力和金融创新能力,部分城市商业银行开始向境外战略投资者伸出“橄榄枝”,寻求通过与境外金融机构的“联姻”,以股权换机制、换技术、换管理,希望在短期内迅速提升银行的综合实力,以应对愈来愈严峻的挑战。对于引进境外战略投资者推动我国银行业改革,国内学界一直争议不断。部分学者对此予以高度评价,认为引进境外战略投资者充实了银行资本金,降低了不良贷款率,提高了风险管控能力和金融创新能力,显著提升了银行的综合竞争力。反对者则对引入境外战略投资者者的必要性提出质疑,认为存在“国有股权贱卖”的风险,并有可能威胁到我国的金融安全,同时,对引资的效果也表示怀疑。但是,这些争论大多围绕着关系国家经济命脉和金融安全的大型国有商业银行和股份制商业银行,对城市商业银行缺乏必要的关注。由于城市商业银行的数据获取难度较大,对其战略引资效果的研究多停留在个案研究的微观层面,缺乏对引资城市商业银行整体的研究和分析。基于此,本文基于2012年底前完成首次战略引资的17家城市商业银行基本情况,采用规范分析和实证分析相结合的方法,运用计量分析工具,对城市商业银行引进境外战略投资者的效果进行较为深入和系统的分析。本文的结构安排如下：本文的第一章是绪论。简要阐述了本文选题的意义和背景、本文的结构安排和研究方法以及创新与不足。第二章对城市商业银行和境外战略投资者的概念进行了界定,并从金融安全、股权定价、引资效果等方面对国内外现有文献进行了归纳、概述。第三章系统地剖析了城市商业银行引进境外战略投资者的背景,分析了引进境外战略投资者的现状和呈现出的特点,并以此为基础分析了城市商业银行引进境外战略投资者可能存在的问题。第四章是本文的落脚点。在前期规范分析的基础上,利用2012年底前完成首次引进战略投资者的17家城市商业银行在首次引资前、后各三年的数据,从安全性、盈利性和创新性三个方面全面考察城市商业银行引进境外战略投资者的效果。实证结果表明：境外战略投资者入股后,城市商业银行的资本充足率显著提升,资产质量显著改善,经营效率和盈利能力显著提高,但业务机构和创新能力的变化并不显著。最后是本文的研究结论和在此基础上提出的政策建议。
[Abstract]:In December 11, 2001, Chinese formally joined the world trade organization, began full implementation of WTO commitments, geographical restrictions gradually cancel the overseas financial institutions to carry out business and other non Prudential restrictions, and finally in the five years after the end of the transition period of the implementation of national treatment of foreign banks. Under this background, foreign banks have accelerated the strategic layout in me the share of China's economic development in Chinese dividend.2003 Banking Regulatory Commission was established. In order to cope with the challenge of entering WTO, regulators opening and promote a new round of reform of the banking sector. The bank regulators in the encouragement and promotion, and Construction Bank, Chinese China bank, ICBC has passed "the reform of the financial restructuring funds -- the introduction of foreign capital, publicly listed", the introduction of foreign strategic investors is one of the key problems. After the investment, China A commercial bank asset quality and innovation ability, improve profitability and international competitiveness, other large joint-stock commercial banks have to follow up. In the face of foreign banks, large state-owned banks and joint-stock bank competition, city commercial banks from city credit cooperative is facing tremendous pressure for reform. As the rapid capital defuse financial risks, improve risk control ability and financial innovation, some city commercial banks began to foreign strategic investors olive branch, seeks with the overseas financial institutions "marriage", equity exchange mechanism for technology, change management, want to quickly enhance the comprehensive strength of banks in the short term, to deal with the more and more severe challenges.
For the introduction of foreign strategic investors to promote the reform of China's banking industry, the domestic academia has been controversial. Some scholars highly appreciates that the introduction of foreign strategic investors to enrich the bank capital, reduce the rate of bad loans, improve the risk management ability and financial innovation ability, improve the comprehensive competitiveness of the bank's opponents. It is necessary to introduce foreign strategic investors questioned, think there is a risk of state-owned equity sale ", and a threat to the financial security of our country, at the same time, the promotion effect also expressed doubts. However, these arguments mainly focus on national economy and financial security of the large state-owned commercial banks and the joint-stock commercial banks, the lack of necessary attention to city commercial banks. The city commercial bank data difficult to obtain investment effect on its strategy The research is mostly on the micro level of case study, and it lacks the research and analysis of the whole city commercial bank.
Based on this, this paper based on the completion of the first strategic investment 17 city commercial banks basic situation before the end of 2012, using the method of combining normative analysis and empirical analysis, using quantitative analysis tools, analyze deeply and systematically on the introduction of foreign strategic investors of city commercial banks.
The structure of this article is as follows:
The first chapter of this article is the introduction, which briefly expounds the significance and background of this topic, the structure and research method of this article, and the innovation and deficiency.
The second chapter defines the concept of urban commercial banks and overseas strategic investors, and summarizes the existing literatures both at home and abroad from the aspects of financial safety, equity pricing and attracting investment effect.
The third chapter systematically analyzes the background of the introduction of foreign strategic investors by city commercial banks, analyzes the present situation and characteristics of the introduction of overseas strategic investors, and based on this, analyzes the possible problems of the introduction of foreign strategic investors by city commercial banks.
The fourth chapter is the foothold of this paper. Based on the previous normative analysis, the completion of the first introduction of strategic investors, the 17 city commercial banks in the capital for the first time before the end of 2012, after three years of data from the three aspects of safety, profitability and innovation of comprehensive study of city commercial banks to introduce foreign strategic investors results. The empirical results show that foreign strategic investors in shares, the city commercial bank's capital adequacy ratio increased significantly, significantly improve the quality of assets, business efficiency and profitability improved significantly, but the change of business organization and innovation ability is not significant.
Finally, it is the conclusion of this paper and the policy suggestions on this basis.

【学位授予单位】：山东大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.6;F832.33

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