互联网金融背景下商业银行并购重组选择差异的效率研究——基于商业银行异质性的Malmquist指数实证分析

发布时间：2018-06-06 20:53

本文选题：互联网金融 + 商业银行　；参考：《国际金融研究》2017年10期

【摘要】：本文结合DEA-Malmquist指数模型测度中国商业银行2006—2015年的全要素生产效率(TFP)及其分解,并通过其与互联网金融指数的回归结果发现,商业银行亟需寻求一种有效的战略途径应对互联网金融带来的业务冲击和技术溢出。本文引入并购重组选择的虚拟变量及其与互联网金融指数的交互项,利用修正面板模型对其与三类商业银行效率进行分类回归,得出选择并购重组的商业银行能在互联网金融发展环境下获得更高的技术进步和全要素生产效率,且大型商业银行能更好地发挥此模式带来的技术优势,中小型商业银行的并购重组选择则会对其原有的技术吸收能力产生抑制作用。最后,根据理论与实证结果,对各类商业银行及政策当局提出建议。
[Abstract]:Based on the DEA-Malmquist index model, this paper measures the total factor production efficiency of Chinese commercial banks from 2006 to 2015 and its decomposition, and finds out through its regression with the Internet financial index. Commercial banks urgently need to find an effective strategic approach to deal with the impact of Internet finance and technology spillover. This paper introduces the virtual variable of M & A selection and its interaction with the Internet financial index, and uses the modified panel model to classify and regress the efficiency of three types of commercial banks. It is concluded that the commercial banks that choose mergers and acquisitions can obtain higher technological progress and full factor production efficiency under the development environment of Internet finance, and large commercial banks can better exert the technological advantages brought by this model. The M & A option of medium and small commercial banks will restrain their original technology absorption ability. Finally, according to the theoretical and empirical results, various commercial banks and policy authorities are advised.
【作者单位】：中国人民大学财政金融学院;北京工商大学研究生院;
【基金】：国家自然科学基金“区域差异视角下我国农村金融体系构建研究”(项目编号:71273020) 北京市社科基金重大项目“互联网金融发展的中国模式与金融创新2015”(项目编号:19008001079)资助
【分类号】：F271;F832.33

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