股权结构、信贷行为与银行绩效——基于我国城市商业银行数据的实证研究  

Ownership Structure,Bank Lending and Financial Performance:Evidence Based on the City Commercial Bank in China

作　　者：祝继高[1] 饶品贵[2] 鲍明明[3] 

机构地区：[1]对外经济贸易大学国际财务与会计研究中心/国际商学院,北京100029 [2]暨南大学管理学院,广东广州510632 [3]中国银行风险管理总部,北京100818

出　　处：《金融研究》2012年第7期31-47,共17页Journal of Financial Research

基　　金：国家自然科学基金项目(项目批准号:71102077;70972010;71032006);教育部人文社科项目(项目批准号:11YJC630166;11YJA630134);广东省自然科学基金项目(项目批准号:S2011040004337);对外经济贸易大学教师学术创新团队资助项目;对外经济贸易大学优秀青年学者培育计划的资助

摘　　要：本文基于2004～2009年城市商业银行数据,分析了我国城市商业银行的公司治理结构对其信贷行为、不良贷款和银行业绩的综合影响。本文研究发现股权结构是影响我国城市商业银行信贷行为和经营业绩的重要因素。第一大股东的控股能力越强,银行的不良贷款率越高,贷款集中度越高,经营绩效也越差;银行的大股东同样存在的"掏空"动机,第一大股东股权性质为地方政府的银行不良贷款率更高。而银行中的独立董事对银行大股东的"掏空"行为有着显著的抑制作用。我们还发现,股权结构会通过影响城市商业银行的贷款集中度和贷款流向影响银行经营业绩,从而揭示了股权结构影响银行绩效的作用途径和机制。本文的研究为银行公司治理与银行绩效之间关系提供了新的证据,同时对于加强我国城市商业银行的贷款风险控制、防范金融风险和加强金融安全也具有重要的现实意义。Using the data of Chinese city commercial bank from 2004 to 2009, the paper analyzes how corporate governance of city commercial bank comprehensively influences on the bank lending, non-performing loan and bank performance. We find that ownership structure has an important influence on the credit behavior and bank operating performance. Bank with higher controlling power of the largest shareholders has higher non-performing loan ratio, higher loan concentration and worse operating performance. When its controlling shareholder is local government, city commercial bank has higher non-performing ratio. Consistent with non-financial firms, the lar- gest shareholder of city commercial bank also has an incentive to tunnel. However, independent director in bank board can restrict largest shareholders from tunneling. Furthermore, we also find that ownership structure can influence bank operating performance through loan concentration and loan flow, which reveals the channel and mechanism of how ownership structure influences performance. Our study provides new evidence on the relationship between bank corporate governance and performance, and also has an important practical implication for loan risk control, financial risk prevention and financial security.

关 键 词：股权结构 独立董事 贷款集中度 银行绩效 

分 类 号：F832.33[经济管理—金融学] F224