混业并购对中国商业银行效率的影响研究  

Influence of Mixed Mergers and Acquisitions on China's Efficiency of Commercial Banks

作　　者：雷鸣[1] 徐方凯 张昊 LEI Ming;XU Fangkai;ZHANG Hao(School of Finance, Nanjing University of Finance and Economics, Nanjing 210023, China)

机构地区：[1]南京财经大学金融学院,江苏南京210023

出　　处：《南京财经大学学报》2021年第2期77-87,共11页Journal of Nanjing University of Finance and Economics

基　　金：教育部人文社会科学研究一般项目“网络视角下基于计算实验方法的银企风险预警模型及控制策略研究”(17YJC630128)。

摘　　要：20世纪90年代开始,世界各国开始了以银行业为主体的大型并购。近年来,人民币国际化取得新的进展,利率市场化进程也不断加快,传统商业银行的经营受到日益严峻的挑战,因而商业银行的综合化经营成为其增强竞争力的重要手段,也是未来转型发展的必然趋势。混业并购如何对我国商业银行的经营效率产生正向影响,我国商业银行混业并购应该遵从哪些原则才能做到并购效率的提升。首先选择基于松弛变量的非径向Super-SBM模型,对我国32家上市商业银行在2006—2018年间的效率值进行测算,在这个结果的基础上,将32家上市商业银行分成处理组和对照组,控制相关的效率影响因素,运用多期双重差分模型进行实证检验。最后得出,混业并购对我国商业银行经营效率的影响显著为正,主要表现在商业银行的技术效率和规模效率上,从而提升了商业银行的资产配置能力和规模经济能力。From the 1990s,countries around the world began large-scale mergers and acquisitions,mainly in the banking sector.In recent years,the internationalization of RMB keeps making new progress,the process of interest rate liberalization is also accelerating,and the operation of traditional commercial banks is facing increasingly severe challenges.Therefore,the comprehensive operation of commercial banks has become an important means to enhance their competitiveness and an inevitable trend of future transformation and development.This paper analyzes how mixed industry mergers and acquisitions have a positive impact on the efficiency of commercial banks,and what principles commercial banks should follow in the mixed industry mergers and acquisitions to improve the efficiency of mergers and acquisitions in China.Firstly,the non-radial Super-SBM model based on relaxation variables is selected to calculate the efficiency value of 32 listed commercial banks in China from 2006 to 2018.On the basis of this result,32 listed commercial banks are divided into treatment group and control group,and relevant influencing factors of efficiency are selected,the multi-phase differential model is used for empirical test.Finally,it is concluded that mixed mergers and acquisitions have a significantly positive impact on the efficiency of commercial banks in China,which mainly reflected in technical efficiency and scale efficiency of commercial banks,thus improving the ability of asset allocation and scale economy of commercial banks.

关 键 词：银行效率 混业并购 非利息收入 多元化经营 

分 类 号：F832.33[经济管理—金融学]