银行上市与贷款质量  

Bank IPO and Loan Quality

作　　者：许浩然[1] 刘耀淞[1] 张敏[1] 

机构地区：[1]中国人民大学商学院会计系

出　　处：《投资研究》2016年第5期19-40,共22页Review of Investment Studies

基　　金：中国人民大学科学研究基金(中央高校基本科研业务费专项资金资助)(项目号:15XNQ021)对本研究的资助

摘　　要：贷款质量的影响因素是学术界和实务界所共同关注的重大问题。本文利用我国商业银行的数据,从银行上市的视角对这一问题进行了探讨。研究结果表明,银行上市提高了其贷款质量,上市后的不良贷款比率和不良贷款余额均显著下降。进一步的研究表明,上市前内、外部治理水平较低的银行,上市对贷款质量的提高作用更加明显。此外,若银行上市后持有的关联贷款较少,上市对贷款质量的提高作用更加明显。上述结论在一系列稳健性检验中依然成立。本文的研究结论对于我国商业银行改革和加强关联贷款监管具有重要参考价值。The determinant of loan quality is an important issue in both academic and practical area. Utilizing the data of Chinese commercial banks, we examine the impact of bank IPO on loan quality. Empirical results show that bank IPO can improve loan quality significantly, i.e., banks’ non-performing loan ratio and non-performing loan number decrease after IPO. Further analyses show that the positive association between bank IPO and loan quality become more pronounced when banks own lower level internal or exteranl governance before going public. Moreover, such relation is strengthed when banks hold less related loans after IPO. Our results continue to hold in an array of robust checks.The conclusion of our paper provides important reference for the reform of Chinese commercial banks and the supervising of related loans.

关 键 词：贷款质量 银行上市 银行治理 关联贷款 

分 类 号：F832.51[经济管理—金融学] F832.4