摘要
中国上市银行越来越多地通过引入战略投资者,特别是境外战略投资者来完善公司治理机制,提高银行绩效。本文以2001年至2008年我国13家上市银行为样本,采用面板数据(Panel Data)计量方法从上市银行治理指标、安全性、盈利性、成长性四个方面,对上市银行引进境外战略投资者前后的效果进行比较分析和定量研究。研究结果表明,引入境外战略投资者能有效完善中国上市银行的公司治理机制。上市银行绩效的改善,说明引入境外战略投资者的银行在一定程度上复制了境外战略投资者较为成熟的公司治理结构、先进的经营理念和风险控制技术,基本达到了引进境外战略投资者的最初目的。
In rhe process of Chinese state-owned commercial banks＇ shareholding system reform,which have achieved huge success as most of our banks go public,the introduction of strategic investors,especially foreign strategic investors,have been more and more popular among the Chinese listing banks,for the purpose of corporate governance bank performance improvement.This paper,based on a sample of 13 listed Chinese banks from year 2001 to year 2008,using the panel data empirical model,analyses the influence of foreign strategic investors introduction to the listed Chinese banks,from 4 perspectives of bank governance index：bank security,bank profitability,and bank growth.The findings are that after the introduction of foreign strategic investors,the basic characteristics of banks show significant difference,with the bank governance index,bank security,and bank profitability mostly in line with theoretical expectations,except for the characteristics of bank growth,which can be explained as the result of a gradual reform process for the listed Chinese banks＇ introduction of the foreign strategic investors.It is implied that the introduction of foreign strategic investors could improve Chinese listed banks＇ governance mechanism with recent opening of our financial sector.This improvement demonstrates that those banks partnered with foreign strategic investors have in fact replicated the maturity structure of foreign corporate governance,advanced management concepts and their risk control technology,achieving the initial target of the foreign strategic investors introduction.It is noted that this research is focusing solely on strategic investors,not strategic speculators,and the authors have conducted strict selection on sampling the foreign strategic investors,to get rid of disturbance from those small-scale foreign speculators,who are different from strategic investors,always giving no thoughts to long term value of the investors,and therefore would bring no benefits on improving the management system and technology of the Chinese listing banks.
出处
《南开管理评论》
CSSCI
北大核心
2010年第6期106-114,共9页
Nankai Business Review
基金
国家杰出青年基金项目(70525005)
教育部新世纪优秀人才支持计划项目(NCET-05-0768)资助
关键词
银行绩效
公司治理
境外战略投资者
Banking Performance
Corporate Governance
Foreign Strategic Investor
