外资参股与中资银行综合价值创造能力研究

发布时间：2018-03-30 00:13

本文选题：外国直接投资　切入点：商业银行　出处：《北京交通大学》2014年博士论文

【摘要】：进入本世纪以来,随着我国金融体制不断改革与发展,我国商业银行自身的经营水平和竞争能力也得到了一定的改善。而在商业银行改革与发展的过程中,境外投资者的引入无疑是一个颇为引人注目的现象,包括国有商业银行以及股份制商业银行在内的很多大型商业银行均曾引入境外投资者进行参股,以期望从中获得一定的绩效提升效果。在这样的背景下,科学合理的认识我国商业银行经营水平的变化,评判商业银行现有战略的得失以及境外投资者参股在我国商业银行发展中起到的作用具有一定的现实意义和参考价值。曾有很多学者对外资参股与商业银行绩效之间的关系进行过多方面的研究。然而从现有研究来看,其所采用的商业银行绩效评价大多为财务指标或效率指标等短期评价体系,无法从全方面体现商业银行综合竞争力的变化,同时对于外资参股对商业银行的影响也缺乏理论层面的分析。基于以上背景,本文从我国商业银行的绩效评价出发,着重探讨了境外战略投资者的战略参股行为对中资银行综合价值创造能力所产生的影响。首先,本文基于商业银行的盈利性、安全性、流动性、规模性以及治理结构和长期发展能力的评估建立了一套能够从不同侧面反映我国商业银行综合价值创造能力的评价指标；其次,本文从理论层面探讨了外资参股对东道国银行经营绩效所产生的影响,指出外资银行的参股可能从促进银行技术进步以及治理结构改善两个方面提升国内银行的综合价值创造能力,但其具体效果依赖于国内银行自身的技术基础、市场结构以及外资投资者的特征等因素；再次,在理论分析的基础上,通过对我国12家主要商业银行综合价值创造能力的测算评价了商业银行近年来经营状况的变化趋势,并以此为基础借鉴计量经济模型和案例分析考察外资参股对我国商业银行经营状况所产生的影响；最后,结合本文的理论分析与实证研究结论给出了我国商业银行在未来发展和引进外资过程中的对策与建议。通过相关研究,本文认为,我国商业银行的综合价值创造能力在近年来得到了相当程度的改善与提升,但这种提升主要源自于我国经济的发展以及国有银行的股份制改革的推动,而并非源自外资银行对我国银行的参股行为。但从具体细节来看,外资进入仍对于银行某些局部方面的经营绩效产生了一定的推动和促进作用。总体而言,本文的主要创新点如下： (1)本文针对我国商业银行原有的经营发展状况评价指标体系的缺陷,从盈利性、安全性、流动性、规模性、管理能力以及长期发展能力六个方面探索性的构造了一个综合价值创造能力评价指标体系,这对于高风险,高收益的银行资本市场的持续发展和稳健运行具有一定的参考价值。 (2)论文从外资银行参股所带来的技术转移效应以及治理结构改善效应两方面入手,从理论层面分析了外资银行进入对我国商业银行绩效水平和价值能力所可能产生的影响以及具体的作用机制,弥补了现有研究在理论方面的不足。 (3)论文利用我国银行的年报数据资料对12家主要国内商业银行近年来综合价值创造能力的变化进行了测算与评价,较为准确和系统的反映了我国商业银行近年来的经营状况 (4)在剔除我国宏观经济发展国有商业银行股份制改革效应的情况下,构建计量检验模型对外资银行参股对我国银行综合价值创造能力产生的影响进行实证检验,对我国商业银行综合价值创造能力变化背后的真实原因形成更为科学准确的判断。
[Abstract]:Since the beginning of this century, with the continuous reform of China's financial system and development, management level and competitive ability of China's commercial banks has improved. But in the process of reform and development of commercial banks, the introduction of foreign investors is undoubtedly a rather striking phenomenon, many large commercial banks including the state-owned commercial banks and joint-stock commercial banks have introduced foreign investors for equity, to obtain a certain performance from in order to enhance the effect. In this context, understanding the change of our country commercial bank management level of scientific and reasonable evaluation of commercial banks, from the existing strategic gains and loss of foreign investors in the development of equity in our country commercial bank has certain practical significance and reference value.
There have been a lot of scholars have done many researches on the relationship between the performance of foreign shares and commercial banks. However, from the existing research, the performance evaluation of commercial banks the most financial indicators or other short-term efficiency index evaluation system, change can not reflect the comprehensive competitiveness of commercial banks from all aspects, at the same time for foreign shares influence of commercial banks is also a lack of theoretical analysis. Based on the above background, this article from the performance evaluation of commercial banks in China, discusses the strategic equity of foreign strategic investors to create the ability to influence and make the comprehensive value of Chinese banks. Firstly, in this paper, the profitability of commercial banks, based on safety, liquidity. The evaluation scale and governance structure and long-term development ability set up a system from the different side to reflect the comprehensive value of China's commercial banks can create The evaluation index of the force; secondly, this paper examines the impact of foreign equity which produces to the host country bank operating performance from the aspect of theory, points out that the foreign bank shares may promote the bank from technological progress and improve the governance structure of the two aspects to enhance the comprehensive value of domestic banks to create capacity, technical basis but its effect depends on the domestic banks the market structure and foreign investor characteristics and other factors; thirdly, on the basis of theoretical analysis, the change trend of commercial banks in recent years operating status was evaluated by measuring the comprehensive value of the main commercial banks in China 12 creative abilities, and on the basis of using econometric model and case analysis of the influence of foreign shares the operation situation of China's commercial banks; finally, the conclusion is given by combining theoretical analysis and empirical research on the China's commercial bank In the future development and the countermeasures and suggestions in the process of introducing FDI. Through the research, this paper argues that the comprehensive value of China's commercial banks to create ability be improved and increased considerably in recent years, but the improvement to promote the development of China's economy mainly from state-owned banks and joint-stock reform, and not from foreign banks to the equity of the banks in China. But from the details view, the entry of foreign capital banks still for some local aspects of business performance has a certain promotion effect.
In general, the main innovations of this article are as follows:
(1) this paper defects, evaluation index system for the development and operation of commercial banks in China from the profitability, safety, liquidity, scale, management and long-term development ability six aspects to construct a comprehensive value creation ability evaluation index system, the high risk, with a certain the reference value of sustainable development and stable operation of high-yield capital market banks.
(2) the effect of technology transfer from the foreign bank equity and governance structure improvement effect in two starts from the theoretical analysis of influence of foreign banks on the performance of China's commercial banks ability level and value of the possible and the specific mechanism of action, to make up for the lack of existing research in theory.
(3) using the annual report data of our banks, the paper calculates and estimates the changes of the comprehensive value creation ability of 12 main domestic commercial banks in recent years, which reflects the operation situation of Chinese commercial banks in an accurate and systematic way.
(4) excluding China's macroeconomic development of joint-stock reform of state-owned commercial banks effect under the condition of the construction effect of econometric model on foreign banks mergers and acquisitions comprehensive value creation ability of the banks in China the empirical test, the real reason for the comprehensive value of China's commercial banks ability to create changes behind the formation of more scientific and accurate the judgment.

【学位授予单位】：北京交通大学
【学位级别】：博士
【学位授予年份】：2014
【分类号】：F832.33

【参考文献】