机构投资者股权对银行公司治理与绩效的影响  被引量:6

The Impact of Institutional Investor Stake on Bank's Corporate Governance and Performance

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作  者:伍伟[1] 刘惠好[1] 

机构地区:[1]中南财经政法大学新华金融保险学院

出  处:《金融论坛》2008年第7期23-28,共6页Finance Forum

摘  要:在机构投资者对银行进行投资时,不同类型的机构投资者具有不同的表现。其中,QFII、证券公司、社保和保险基金都能影响银行的公司治理,促进其综合业绩的提高;证券投资基金和企业不能对这两个方面产生显著影响。在选择银行股时,证券投资基金注重银行过去综合业绩的表现,企业、社保基金和保险基金注重银行过去市场价值的增长,QFII和证券公司同时考虑了这两个方面。实行银行股权全流通,放松对机构投资者的管制,改革证券交易方面的税收制度,培养机构投资者的投资理念,有利于发挥机构投资者对银行公司治理的积极作用。Various institutional investors play different roles when investing in banks. QFII, security companies, Social Security Fund and insurance funds usually can make direct impacts on objective bankr's corporate governance and improve its overall performance, but security investment funds and common enterprises have no such influence. Different from security investment funds, which play emphasis on bankr's previous performance when choosing valuable bank stocks, enterprises, Social Security Fund and insurance funds focus more on bankr's market value growth and QFII and security companies consider the both aspects. To maximize institutional investor's positive effect on bankr's corporate governance, the following measures should be furthered: realizing bank sharer's full float, relaxing control of institutional investors, reforming the tax" system on security exchange and cultivating institutional investorsr' value investment ideas.

关 键 词:机构投资者 银行 公司治理 绩效 

分 类 号:F832.2[经济管理—金融学] F224

 

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