摘要
随着我国经济下行压力增大,国内各金融机构的金融风险不断累积,城市商业银行(以下简称“城商行”)作为我国商业银行的一部分,同样面临着与日俱增的金融风险。利用2015—2017年103家城商行数据,通过固定效应模型,研究发现:对地方政府持股的制衡无法降低城商行非系统性风险;高管薪酬的提高有助于减少城商行的非系统性金融风险,但只有较大比例地提高薪酬才能明显地降低非系统性金融风险;董事会人数的扩大有助于降低非系统性金融风险,但一味地增加独立董事人数并不能为降低非系统性金融风险带来帮助。根据实证结果,城商行有必要对高管进行激励,同时要适当扩大董事会规模,但不必刻意增加独立董事人数。国家应进一步引导民间资本进入城市商业银行,使城商行的股权分配趋于合理,同时应合理安排产权,完善了产权结构方能对治理结构进行改进。
With the increasing downward pressure on China's economy,the financial risks of domestic financial institutions continue to accumulate.As a part of China's commercial Banks,urban commercial Banks(hereinafter referred to as“urban commercial Banks”)also face increasing financial risks.Based on the data of 103 urban commercial Banks from 2015 to 2017 and through the fixed effect model,this paper finds that the checks and balances on local government ownership cannot reduce the non-systematic risk of urban commercial Banks.The increase of executive compensation can help to reduce the non-systematic financial risk of city firms.The expansion of the number of directors is helpful to reduce the non-systematic financial risk,but merely increasing the number of independent directors cannot help to reduce the non-systematic financial risk.According to the empirical results,it is necessary for city commercial Banks to motivate senior executives and appropriately expand the size of the board of directors,but not deliberately increase the number of independent directors.The state should further guide the private capital into the city commercial Banks,so that the equity distribution of the city commercial Banks is more reasonable,and at the same time,it should reasonably arrange the property right,so that the governance structure can be improved only after the property right structure is improved.
作者
毛银辉
陆智强
MAO Yin-hui;LU Zhi-qiang(Business School,Ningbo University,Ningbo 315211,China)
出处
《科技与管理》
2020年第1期81-88,共8页
Science-Technology and Management
基金
浙江省自然科学基金项目(LY19G030011)。
关键词
城市商业银行
公司治理
地方政府
非系统性金融风险
urban commercial bank
corporate governance
local government
non-systemic financial risks
