中国商业银行效率评价及影响因素研究
摘要
提高商业银行效率是当前中国金融业可持续发展的关键问题,也是迎接外资银行挑战的根本要求。对我国商业银行效率问题进行研究,可以补充与完善国内外银行效率研究理论与方法;有助于中国银行监管部门对银行业效率水平进行判断,为银行监管当局制定有针对性的监管政策提供理论依据;有助于各银行及其分支机构判断与其它银行系统间的效率差距,优化配置资源;有助于投资者对银行的投资决策,正确引导社会资金流向;有助于商业银行发展方式的转型和中国银行业的可持续发展。
本文在对国内外有关银行效率理论和实证研究进行系统梳理的基础上,结合我国实际,采用DEA和SFA方法测度了我国商业银行的效率并进行排名,定性分析了银行效率的影响因素,并采用多元回归和路径分析、SEM方法定量地研究了银行效率的影响因素,特别是竞争对银行效率的影响,并有针对性地提出了提高我国商业银行效率的策略。
本文创新之处在于:
1、虽然在许多学者的银行效率研究中都运用了DEA方法,但是对于投入产出指标的选择却有很多差异,随意性较强,缺乏客观的方法,这部分地导致了研究结果的不同;另外,DEA方法要求样本量至少是投入产出指标个数之和的两倍,否则效率的分辨率不高,而我国银行数据样本量有限。因此,本文探索分别运用因子分析和典型相关法对DEA方法进行改进,不仅可以提高效率的分辨率,同时对于指标的选取也提出了一种更客观的方法。
2、为了解决自变量相对较多而样本量不足的问题,采用面板数据(Panel Data)回归方法实证研究银行效率的影响因素。
3、对于银行效率的影响因素,学者大多采用多元回归分析方法,不能同时考虑多个因变量,因而不能解决一个影响因素同时对银行的多种效率产生影响的问题,这样就可能会导致提出的对策顾此失彼——对提高一种效率有利,却对另一种效率的提升不利的问题。而路径分析和SEM方法可同时考虑及处理多个因变量,允许自变量和因变量项目含有测量误差。本文尝试运用路径分析和结构方程模型SEM对效率影响因素进行实证分析,得出较有说服力的结论。
To improve the efficiency of commercial banks of China in the current financial industry is not only the key issues of sustainable development, but also the fundamental requirements to meet challenges of foreign banks. The research on efficiency of commercial banks of China conducted to a supplement and improvement of the domestic and foreign banks efficiency theories and methods; it can help the Chinese banking regulators to judge the efficiency levels of banks, provide the theoretical basis for bank regulatory authorities to develop targeted regulatory policies; help the banks and their branches to determine the efficiency gap between them and other banks systems, to optimize the allocation of resources; help investors to make the investment decisions for banks, to guide the flow of social capital to the right way; it contribute to the development of commercial banks in the way transformation and sustainable development of China's banking industry.
In this paper, based on the sysmetical sorting and classification of domestic and foreign theoretical and empirical research on banking efficiency, combined with China's reality, DEA and SFA methods are used to measure and rank the efficiency of commercial banks in China, then qualitative analysis of factors influencing the efficiency of banks was made, using multiple regression, path analysis and SEM to study quantitatively the factors influencing the efficiency of banks, particularly the impact of competition on bank efficiency, and put forward the strategy to improve the efficiency of commercial banks in China.
The innovations are:
1, although many scholars in the study of bank efficiency have used the DEA method, but there are many differences in the choice of indicators for input and output, it seems strong randomness and lack of objective methods, this partly led to different results of the study; In addition, DEA method requires the number of sample at least twice than that of input-output indicators, otherwise, the resolution of efficiency is not high. Because of the limited sample size of bank data, this paper were to explore the use of factor analysis and canonical correlation method to improve the ordinary DEA methods, it not only can improve the the resolution of efficiency, while the selection of indicators is also proposed by a more objective approach.
2, to resolve the problem of relatively more independent variables and insufficient sample size, make use of Panel Data regression method.
3, the study of efficiency influencing factors for banks, was mostly by using multiple regression analysis, not taking into account the number of dependent variables and latent variables, ignoring that a factor may influence a number of banks efficiency at the same time. According to the isolating microscopic analysis of various factors to make corresponding solutions to develope the efficiency of banks, which may lead to that a class of efficiency is improved, while the other efficiency is reduced. The path analysis and SEM method can simultaneously handle multiple dependent variables considered and to allow independent variable and dependent variable project contains measurement error. This is the first application of path analysis and structural equation modeling (SEM) to study the influencing factors on the efficiency of commercial banks, the conclusions is more convincing.
本文在对国内外有关银行效率理论和实证研究进行系统梳理的基础上,结合我国实际,采用DEA和SFA方法测度了我国商业银行的效率并进行排名,定性分析了银行效率的影响因素,并采用多元回归和路径分析、SEM方法定量地研究了银行效率的影响因素,特别是竞争对银行效率的影响,并有针对性地提出了提高我国商业银行效率的策略。
本文创新之处在于:
1、虽然在许多学者的银行效率研究中都运用了DEA方法,但是对于投入产出指标的选择却有很多差异,随意性较强,缺乏客观的方法,这部分地导致了研究结果的不同;另外,DEA方法要求样本量至少是投入产出指标个数之和的两倍,否则效率的分辨率不高,而我国银行数据样本量有限。因此,本文探索分别运用因子分析和典型相关法对DEA方法进行改进,不仅可以提高效率的分辨率,同时对于指标的选取也提出了一种更客观的方法。
2、为了解决自变量相对较多而样本量不足的问题,采用面板数据(Panel Data)回归方法实证研究银行效率的影响因素。
3、对于银行效率的影响因素,学者大多采用多元回归分析方法,不能同时考虑多个因变量,因而不能解决一个影响因素同时对银行的多种效率产生影响的问题,这样就可能会导致提出的对策顾此失彼——对提高一种效率有利,却对另一种效率的提升不利的问题。而路径分析和SEM方法可同时考虑及处理多个因变量,允许自变量和因变量项目含有测量误差。本文尝试运用路径分析和结构方程模型SEM对效率影响因素进行实证分析,得出较有说服力的结论。
To improve the efficiency of commercial banks of China in the current financial industry is not only the key issues of sustainable development, but also the fundamental requirements to meet challenges of foreign banks. The research on efficiency of commercial banks of China conducted to a supplement and improvement of the domestic and foreign banks efficiency theories and methods; it can help the Chinese banking regulators to judge the efficiency levels of banks, provide the theoretical basis for bank regulatory authorities to develop targeted regulatory policies; help the banks and their branches to determine the efficiency gap between them and other banks systems, to optimize the allocation of resources; help investors to make the investment decisions for banks, to guide the flow of social capital to the right way; it contribute to the development of commercial banks in the way transformation and sustainable development of China's banking industry.
In this paper, based on the sysmetical sorting and classification of domestic and foreign theoretical and empirical research on banking efficiency, combined with China's reality, DEA and SFA methods are used to measure and rank the efficiency of commercial banks in China, then qualitative analysis of factors influencing the efficiency of banks was made, using multiple regression, path analysis and SEM to study quantitatively the factors influencing the efficiency of banks, particularly the impact of competition on bank efficiency, and put forward the strategy to improve the efficiency of commercial banks in China.
The innovations are:
1, although many scholars in the study of bank efficiency have used the DEA method, but there are many differences in the choice of indicators for input and output, it seems strong randomness and lack of objective methods, this partly led to different results of the study; In addition, DEA method requires the number of sample at least twice than that of input-output indicators, otherwise, the resolution of efficiency is not high. Because of the limited sample size of bank data, this paper were to explore the use of factor analysis and canonical correlation method to improve the ordinary DEA methods, it not only can improve the the resolution of efficiency, while the selection of indicators is also proposed by a more objective approach.
2, to resolve the problem of relatively more independent variables and insufficient sample size, make use of Panel Data regression method.
3, the study of efficiency influencing factors for banks, was mostly by using multiple regression analysis, not taking into account the number of dependent variables and latent variables, ignoring that a factor may influence a number of banks efficiency at the same time. According to the isolating microscopic analysis of various factors to make corresponding solutions to develope the efficiency of banks, which may lead to that a class of efficiency is improved, while the other efficiency is reduced. The path analysis and SEM method can simultaneously handle multiple dependent variables considered and to allow independent variable and dependent variable project contains measurement error. This is the first application of path analysis and structural equation modeling (SEM) to study the influencing factors on the efficiency of commercial banks, the conclusions is more convincing.
引文
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