转轨过程中我国城市商业银行治理研究
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摘要
20世纪80年代中期以来,我国进行了城市信用社的金融体制改革。经过十多年的风雨洗礼,我国城市商业银行在数量和规模上不断放大的同时,经营能力也逐渐得到提高,对于所在地的地方经济的支持作用已不可同日而语。
随着外资银行的大量涌入以及全国性股份制商业银行壮大成熟,我国银行业的竞争将会越来越激烈。面对外资银行和五大国有商业银行及全国性股份制商业银行等挑战和挤压,我国城市商业银行到了一个比较关键的发展阶段。尽管近几年来,我国小部分城市商业银行在治理机制、发展战略和经营理念等方面取得了不断的突破,但是仍出现宁波银行的内部股权处置争议和北京银行的“娃娃股东”事件;更不用说我国其他大部分城市商业银行,它们治理情况更不如人意,甚至连“形似”都没有达到。
我国城市商业银行内部治理问题表现在股权结构不尽合理,地方政府或地方政府控制的国有法人作为大股东控股明显,法人治理结构不完善;董事会和监事会形同虚设,甚至没有独立董事和外部监事;激励机制设计带有很强的行政性激励色彩,缺乏长期激励与短期激励的匹配。
我国城市商业银行外部治理问题表现在信息披露渠道不畅,信息披露的及时性和有效性都比较差;银监会对城市商业银行监管不到位,地方金融办发挥作用不明显;地区金融生态环境尤其是法治环境地区差异比较大,惩治和打击金融犯罪的力度还不够等方面。上述内部治理和外部治理问题的存在使得我国大部分城市商业银行的发展要比其他的商业银行发展困难得多,并制约着它们的持续稳健经营和长远发展。
本文通过对76家样本资料进行城市商业银行治理的实证研究,我们发现在股权结构指标当中,流动股比重越高,则资本充足率越好,其他指标不显著;在董事会和监事会指标当中,董事会次数和监事会次数均与净资产收益率呈显著的负相关,其他指标不显著;对城市商业银行绩效影响最显著的指标是地方法治环境,城市商业银行所在地法治化程度越高,城市商业银行的资本充足率就越好,不良贷款发生的可能性往往越小;城市商业银行的规模越大,流动性可以保持较低水平;信息披露指标、社会责任指标和所有因变量关系均不显著,这可能与目前我国声誉机制尚未形成有关。
最后本文根据我国城市商业银行的自身特点,选择性的吸收优秀银行治理经验,并最终提出优化我国城市商业银行治理的政策建议。在内部治理优化方面,本文提出要构建城市商业银行有效的产权关系;改善城市商业银行董事会和监事会治理;完善城市商业银行的激励机制。在外部治理优化方面,本文提出要完善监管法律制度,转变监管方式;强化城市商业银行的信息披露机制;改善地区金融生态环境,特别是地方法治环境;增强城市商业银行的社会责任。
Since the mid-1980s, our country has carried on the reform of monetary system in the urban credit associations. After more than ten year baptisms, the city commercial banks not only unceasingly enlarge the quantity and scale, but also the business capacity and they have supported the locus economy as the legal role.
With the massive influx of foreign banks, as well as the mature of national joint-stock commercial banks, the competition among China's banking industry will be fiercer. Encounter the challenges from the foreign banks, five state-owned commercial banks and the national joint-stock commercial banks, the city commercial banks in our country has been to a crucial stage. During the past few years, even though a small number of city commercial banks have achieved a breakthrough in the aspects of governance mechanisms, development strategy and management philosophy and so on, but there still exist internal disputes in Bank of Ningbo and the "doll shareholders" case in the Bank of Beijing, let alone most of the other city commercial banks in our country, their situation is even more unsatisfactory.
The internal governance issues of our country city commercial banks lie on the non-rational stock structure, clearly controlled by local governments or local governments as a major shareholder of state-owned legal person, imperfect corporate governance structure, nominal of the board of directors and board of supervisors and even no independent directors or independent supervisors, incentive mechanism designed with a strong incentive administration color, lack of the match of long-term incentives and short-term incentive. The external governance issues of our country city commercial banks lie on the disclosure sluggish of information channels, the timeliness and effectiveness. The supervisions of CBRC upon city commercial banks are not in place, the local supervisions are not obvious. The regional financial ecological environment especially the rule of law is relatively large among regions; the punishments on the financial crime are not enough and so on. The existence of the internal governance and external governance issues above causes to the development of most of the city commercial banks is more difficult then other commercial banks and has restricted their sustainable operation and long-term development.
Based on the empirical studies of 76 city commercial banks data, we find that the higher the proportion of the mobile unit in the ownership structure, the better capital of the adequacy ratio, and the other ratio was not significant; among the ratios of the board of directors and board of supervisors, the number of the board of directors the board of supervisors is a significant negative correlation to the net equity return, and the other ratio was not significant; the most significant ratios to the performance of city commercial banks are the local law environment, the higher the degree of the local law, the better the capital adequacy ratio, the less the possibility of the occurrence of non-performing loans; the larger the scale of city commercial banks, the lower level mobility; the ratio of information disclosure and social responsibility are not significant to all ratios, which may because that the current reputation of our country has not been set.
Finally, in accordance with our country city commercial banks characteristics, and selectively abort the outstanding bank management experience, we give some advice to optimize the management of our city commercial banks. In the aspect of the internal governance optimization, this paper proposes to build an effective property rights relationship among city commercial banks; improve the governance of the board of directors and the board of supervisors and prompt the incentive mechanism of city commercial banks. Concern to the external governance, this paper proposes to improve the regulation of legal system and change the regulation methods; strengthen the information disclosure mechanisms; improve the regional financial environment, especially the local law environment; enhance the social responsibility of city commercial banks.
随着外资银行的大量涌入以及全国性股份制商业银行壮大成熟,我国银行业的竞争将会越来越激烈。面对外资银行和五大国有商业银行及全国性股份制商业银行等挑战和挤压,我国城市商业银行到了一个比较关键的发展阶段。尽管近几年来,我国小部分城市商业银行在治理机制、发展战略和经营理念等方面取得了不断的突破,但是仍出现宁波银行的内部股权处置争议和北京银行的“娃娃股东”事件;更不用说我国其他大部分城市商业银行,它们治理情况更不如人意,甚至连“形似”都没有达到。
我国城市商业银行内部治理问题表现在股权结构不尽合理,地方政府或地方政府控制的国有法人作为大股东控股明显,法人治理结构不完善;董事会和监事会形同虚设,甚至没有独立董事和外部监事;激励机制设计带有很强的行政性激励色彩,缺乏长期激励与短期激励的匹配。
我国城市商业银行外部治理问题表现在信息披露渠道不畅,信息披露的及时性和有效性都比较差;银监会对城市商业银行监管不到位,地方金融办发挥作用不明显;地区金融生态环境尤其是法治环境地区差异比较大,惩治和打击金融犯罪的力度还不够等方面。上述内部治理和外部治理问题的存在使得我国大部分城市商业银行的发展要比其他的商业银行发展困难得多,并制约着它们的持续稳健经营和长远发展。
本文通过对76家样本资料进行城市商业银行治理的实证研究,我们发现在股权结构指标当中,流动股比重越高,则资本充足率越好,其他指标不显著;在董事会和监事会指标当中,董事会次数和监事会次数均与净资产收益率呈显著的负相关,其他指标不显著;对城市商业银行绩效影响最显著的指标是地方法治环境,城市商业银行所在地法治化程度越高,城市商业银行的资本充足率就越好,不良贷款发生的可能性往往越小;城市商业银行的规模越大,流动性可以保持较低水平;信息披露指标、社会责任指标和所有因变量关系均不显著,这可能与目前我国声誉机制尚未形成有关。
最后本文根据我国城市商业银行的自身特点,选择性的吸收优秀银行治理经验,并最终提出优化我国城市商业银行治理的政策建议。在内部治理优化方面,本文提出要构建城市商业银行有效的产权关系;改善城市商业银行董事会和监事会治理;完善城市商业银行的激励机制。在外部治理优化方面,本文提出要完善监管法律制度,转变监管方式;强化城市商业银行的信息披露机制;改善地区金融生态环境,特别是地方法治环境;增强城市商业银行的社会责任。
Since the mid-1980s, our country has carried on the reform of monetary system in the urban credit associations. After more than ten year baptisms, the city commercial banks not only unceasingly enlarge the quantity and scale, but also the business capacity and they have supported the locus economy as the legal role.
With the massive influx of foreign banks, as well as the mature of national joint-stock commercial banks, the competition among China's banking industry will be fiercer. Encounter the challenges from the foreign banks, five state-owned commercial banks and the national joint-stock commercial banks, the city commercial banks in our country has been to a crucial stage. During the past few years, even though a small number of city commercial banks have achieved a breakthrough in the aspects of governance mechanisms, development strategy and management philosophy and so on, but there still exist internal disputes in Bank of Ningbo and the "doll shareholders" case in the Bank of Beijing, let alone most of the other city commercial banks in our country, their situation is even more unsatisfactory.
The internal governance issues of our country city commercial banks lie on the non-rational stock structure, clearly controlled by local governments or local governments as a major shareholder of state-owned legal person, imperfect corporate governance structure, nominal of the board of directors and board of supervisors and even no independent directors or independent supervisors, incentive mechanism designed with a strong incentive administration color, lack of the match of long-term incentives and short-term incentive. The external governance issues of our country city commercial banks lie on the disclosure sluggish of information channels, the timeliness and effectiveness. The supervisions of CBRC upon city commercial banks are not in place, the local supervisions are not obvious. The regional financial ecological environment especially the rule of law is relatively large among regions; the punishments on the financial crime are not enough and so on. The existence of the internal governance and external governance issues above causes to the development of most of the city commercial banks is more difficult then other commercial banks and has restricted their sustainable operation and long-term development.
Based on the empirical studies of 76 city commercial banks data, we find that the higher the proportion of the mobile unit in the ownership structure, the better capital of the adequacy ratio, and the other ratio was not significant; among the ratios of the board of directors and board of supervisors, the number of the board of directors the board of supervisors is a significant negative correlation to the net equity return, and the other ratio was not significant; the most significant ratios to the performance of city commercial banks are the local law environment, the higher the degree of the local law, the better the capital adequacy ratio, the less the possibility of the occurrence of non-performing loans; the larger the scale of city commercial banks, the lower level mobility; the ratio of information disclosure and social responsibility are not significant to all ratios, which may because that the current reputation of our country has not been set.
Finally, in accordance with our country city commercial banks characteristics, and selectively abort the outstanding bank management experience, we give some advice to optimize the management of our city commercial banks. In the aspect of the internal governance optimization, this paper proposes to build an effective property rights relationship among city commercial banks; improve the governance of the board of directors and the board of supervisors and prompt the incentive mechanism of city commercial banks. Concern to the external governance, this paper proposes to improve the regulation of legal system and change the regulation methods; strengthen the information disclosure mechanisms; improve the regional financial environment, especially the local law environment; enhance the social responsibility of city commercial banks.
引文
3改革开放半甲子城市商行一轮回——城市商业银行改革发展的回顾与展望,楼文龙,2008,http://citybank.zgjrw.com/
4改革开放半甲子城市商行一轮回——城市商业银行改革发展的回顾与展望,楼文龙,2008,http://citybank.zgjrw.com/
5详见刘芍佳、李骥.超产权论与企业绩效.经济研究. 1998年第8期
6虞群娥,政府参与地方商业银行的经济学分析,金融研究,2004年第7期
7杜朝运、邓嫦琼,城市商业银行股权结构改革的制度经济学解释,广东金融学院学报,2008年第2期。
8虞群娥,政府参与地方商业银行的经济学分析,金融研究,2004年第7期
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10 http://finance.sina.com.cn/g/20040922/10091040688.shtml 2004年09月22日
11 http://finance.sina.com.cn/roll/20050624/143286034t.shtml 2005年06月24日
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