股权特征、社会责任与企业价值——基于我国商业银行的实证检验  

Ownership Characteristics, Social Responsibility and Corporate Value——Based on the Empirical Test on China's Commercial Banks

作　　者：伍伦[1] 

机构地区：[1]西南财经大学会计学院,四川成都611130

出　　处：《西部金融》2014年第11期12-17,共6页West China Finance

摘　　要：本文选取我国上市银行2008-2012年的面板数据为样本,实证分析了股权特征、商业银行社会责任与企业价值之间的关系。研究发现:相比于国有控股银行,非国有控股银行履行社会责任更为充分,第一大股东持股比例与商业银行履行社会责任存在显著正相关;当期社会责任与当期企业价值呈正相关,说明商业银行履行社会责任有助于提高企业价值;同时,社会责任履行对银行价值具有滞后影响,且表现为滞后一期,即前一期社会责任的履行会提高当期的企业价值,并且相比于当期社会责任,前一期社会责任对当期企业价值的贡献更大。建议商业银行应增强社会责任意识以提升企业价值,保持适度的控股股东持股比例有助于社会责任的履行。By selecting samples of panel data of China’s listed commercial banks from 2008 to 2012, the paper analyzes the rela-tionship among ownership characteristics, commercial banks social responsibility and corporate value. The empirical results demon-strate that non-state-owned banks are more sufficient to fulfill social responsibility than state-controlled banks, and there exists a signif-icant positive correlation between the proportion of the largest shareholder and commercial banks’ fulfilling the social responsibility. That there also exists the positive correlation between the current social responsibility and current corporate value reveals that fulfilling the social responsibility is helpful for the commercial banks to improve the corporate value. Meanwhile, fulfilling the social responsi-bility has the lag effect on the corporate value of commercial banks, but just with a lag of one period, that is to say, the previous fulfill-ment of the social responsibility will improve the current corporate value. Moreover, compared to the current social responsibility, the previous social responsibility does more contribute to the current corporate value. Therefore, the suggestions are put forward for com-mercial banks strengthen the consciousness of social responsibility in order to improve the corporate value and maintain moderate ratio of controlling shareholder ownership to help to fulfill the social responsibility.

关 键 词：商业银行 股权特征 社会责任 企业价值 

分 类 号：F830.31[经济管理—金融学]