摘要
当今世界,经济全球化和金融一体化迅速发展,金融作为现代经济的核心,对经济的贡献越来越大,而银行作为金融体系的核心,是国家宏观调控的重要中介,对实现国民经济持续快速健康发展发挥着越来越重要的作用。银行业竞争与垄断的程度影响着银行业的绩效、服务产品的质量和创新的程度。因此,研究中国银行业市场结构和经济绩效对实现银行业的有效竞争,提高我国银行业的国际竞争力,促进经济发展,具有十分重要的意义,这已成为学术界和实务界高度关注的问题。
本文采用理论分析与实证分析相结合的方法,分析了银行业的市场结构判断标准,通过实证分析,计算了银行业的市场份额、市场集中率、赫芬达尔指数,并分析了银行的绩效及其研究方法,计算了商业银行的收益率、纯技术效率值、技术效率值、规模效率值、配置效率值和综合效率值；同时采用经济计量的研究方法,选取我国市场份额最大的14家商业银行作为本文实证研究的样本,采用时间序列与横截面相结合的方法,运用经济计量相关估计方法,对1999-2008年间中国银行业的绩效和市场结构进行回归分析。另外,结合了DEA这一新的研究方法,对商业银行的效率进行了深入分析；当然,本文的政策建议部分侧重于规范分析方法,提出改善银行业市场结构与提高绩效的政府产业组织政策。
具体来说,本文的研究工作主要体现在以下几个方面：一是对中国银行业市场结构进行分析。介绍了关于银行业市场结构的理论模型和银行业市场结构变迁的三个阶段历程,分析了中国银行业的市场份额,发现国有商业银行仍居于主要地位,从产业经济的角度分析了银行业的市场集中度,通过数据计算CR4和HHI指数,发现中国银行业市场近年来的集中度依然较高,垄断格局并没有发生实质性的改变,仍是由四大国有商业银行控制着整个市场。但从动态发展来看,在市场化进程中新生成的商业银行对这种高度集中的格局产生了一些冲击,使我国银行业竞争程度有所加强,我国银行业的市场结构开始由极高寡占型转变为高集中寡占型,从寡头垄断、高度集中转变为垄断竞争、适当集中。还分析了银行业的产品差异化,发现我国银行业产品差别化较小。分析了商业银行的规模经济性,发现我国商业银行表现为整体规模经济,但国有商业银行和股份制商业银行在规模经济状态和发展趋势方面表现出一定的差异,国有商业银行规模经济状态差于股份制商业银行。分析了商业银行进入与退出壁垒,并认为政策法律性壁垒是中国银行业主要的进入壁垒。另外通过研究发现,我国银行业形成寡头垄断的市场结构的原因表现为：行政垄断因素、产权制度因素、银行属性因素和政府发展因素,而主要原因在于我国转轨过程中存在的独特的行政垄断。
二是对中国银行业市场绩效进行分析。首先,分析了国外通常采用的绩效指标——商业银行的资产收益率和资本收益率,发现我国商业银行的利润率水平仍然偏低,但从动态来看,我国商业银行的利润率水平呈先降后升的变化趋势,并且国有商业银行、股份制商业银行的利润率水平出现明显的分化。其次,用DEA方法测算了中国商业银行1999-2008年的综合效率以及具体的配置效率、技术效率、纯技术效率、规模效率的变化,发现从动态的角度来看,中国商业银行的综合效率逐步提高,股份制商业银行的效率水平整体上明显优于国有商业银行。再次,分析了国有商业银行的绩效低下的原因,主要为寡头垄断的市场结构、规模不经济、自身的经营管理和外部环境因素。
三是对中国银行业市场结构与绩效关系进行实证检验。采用时间序列与横截面相结合的方法,抽取1999-2008年的面板数据,选取商业银行的经营绩效,即资产收益率(ROA)、资本收益率(ROE)、DEA效率值(EF)为被解释变量,市场份额、市场集中率、赫芬达尔指数、GDP增长率、资本与资产比值等为解释变量,采用经济计量相关估计方法,对中国银行业市场结构与绩效关系进行回归,结果显示,市场集中度与绩效有负相关关系,即市场集中度越小,绩效会越高；国内生产总值增长率与银行绩效正相关,资本资产比率与资产收益率正相关、与资本收益率负相关。
四是提出发挥市场结构对绩效的积极促进作用,政府的四方面政策：放松政府规制,降低进退壁垒；扶持发展中小型股份制商业银行,扩大规模经营；完善四大国有商业银行的治理机制,改进管理水平；完善规制法律法规体系,提高整体行业绩效。
同以往的文献相比较,本文有以下几点创新之处：一是指标新,运用DEA方法测度效率值对银行绩效进行评价时,需要事先确定合理的投入和产出变量,这是正确评价银行效率的重要前提条件。但到目前为止,理论界对银行的产出变量的定义仍存在较大的分歧,本文在借鉴国内外现有成果的基础上,结合我国银行业务的特点,将银行的产出变量定义为贷款额、利润额和存款额。在计算银行综合效率时必须知道投入的价格,本文选取银行营业费用指标作为劳动力价格,即总劳动报酬支出；选取各年的一年期贷款利率作为资本的价格。二是变量新,对银行绩效的测度,一般采用利润率指标,包括资本收益率和资产收益率,并在回归中以此作为因变量,本文又增加运用DEA方法测算的、作为绩效考核指标的效率值也作为因变量,以全面考察银行的经营绩效,并以市场份额、行业集中率、赫芬达尔指数为自变量,并选取国民生产总值增长率和资本对资产的比率为控制变量,采用计量经济相关估计方法,对中国商业银行的绩效和市场结构进行回归分析。三是观点新。本文运用计量经济方法回归分析,发现银行业赫芬达尔指数与银行效率显著负相关,银行业市场集中度越高,银行的效率越低,希望结论能为提高银行业绩效提供一个新的思路。
论文对我国银行业的市场结构与绩效进行了全面、系统的研究,期望本文能够有助于丰富和发展我国银行业的理论体系,拓宽和完善我国银行业理论的研究领域,并为我国银行业改革和金融政策的制定提供重要的参考意见。
Nowadays, with the rapid development of economic globalization and financial integration, as the core of modern economy, finance contributes to the economy more and more increasingly. As the core of finance, banks are the important agents of national macro-control, and the important means to achieve rapid and sustained and healthy development of national economy. The degree of competition between banks and monopoly affects on banks'performance, service quality and innovation. Therefore, the study on market structure and performance of banks in China has great significance to achieve effective competition in banking, improve the international competitiveness of banks and promote economic development. This has become a question of highly concen from academic and practice fields.
In this paper, theoretical analysis and empirical analysis are combined. It makes analyses criteria of market structure of banks, and it calculates market share, market concentration ratio and Herfindahl Index through empirical analysis. It analyzes the performance of banks and its research methods and calculates the rate of profit, economic efficiency, technology efficiency, allocative efficiency, pure technology efficiency and scale efficiency of commercial banks. At the same time, it uses econometric methods, selecting China's 14 commercial banks owning the largest market share as empirical research samples. Using the method of time series and cross section combined, and with Econometrics method, it carries on regression analysis of the relationship between the market structure and the performance from 1999 to 2008. In addition, it combines the new research methods of DEA, and analyses the efficiency of commercial banks in-depth. Of course, policy recommendations in this paper focus on the specification method, and at last it gives government's industrial organization policies to improving the structure and performance of banks.
Specifically, this paper is mainly reflected in the following areas. Firstly, it analyzes market structure of China's banks. It introduces the theory model of market structure and the three stages of market structure of banks. It analyses market share in China's banks, and it is found that state-owned banks still live in the main. From the industrial economy point of view, it analyzes market concentration of banks. Calculating by CR4 and HHI index, we find that the degree of concentration is still high in bank market in China in recent years, monopoly never changes substantively, and the entire market is still controlled by the four state-owned commercial banks. But with the dynamic and developed perspective, the new commercial banks generated in the market process have some impact on the pattern with a high concentration ratio, and the impact has strengthened competition in the banking sector. Market structure of China's banks begins to shift from the high oligopoly to high concentration oligopoly, from the oligopoly to monopolistic competition, from high concentration to appropriate concentration. It also analyses product differentiation of banks, and it is found that product differentiation is smaller in China's banks. It analyses economies of scale of commercial banks and found that the overall economy is economy of scale of commercial banks in China. But the state-owned commercial banks and joint-stock commercial banks show some differences in the economy state and development trends, state-owned commercial banks are worse than joint-stock commercial banks in economies of scale. It analyses entry and exit barriers to the commercial banks and it is found that policy barriers and legal barriers are the major barriers. Another study find the reason of oligopoly market structure of banks in China, including administrative monopoly, the property rights system, the bank's property and the government development. The main reason is the existence of the administrative monopoly through transition process.
Secondly, it analyses the performance of China's banks. It analyzes the performance index which is used usually in abroad, Return On Asset (ROA) and Return On Equity (ROE), and it is found that the rate of profit is still low in China, but with the dynamic perspective, the rate of profit of commercial banks in China presents the variation tendency of rising after lowering, and the obvious division appears at the rate of profit among state-owned commercial banks and joint-stock commercial banks. With the DEA method, it calculates the overall efficiency of commercial banks in China from 1999 to 2008, and the specific allocative efficiency, technical efficiency, pure technical efficiency and scale efficiency change. It is fond that the overall efficiency of commercial banks is improved progressively, and the efficiency of joint-stock commercial banks is overall superior to state-owned commercial banks. It analyzes the reasons for the low performance of state-owned commercial banks, mainly oligopolistic market structure, diseconomies of scale, its management and external environmental factors.
Thirdly, it examines the empirical relationship of market structure and performance of China's banks. It uses the method of time series and cross section combined together, collects panel data from 1999 to 2008, selects the performance of commercial banks, namely, ROA, ROE and DEA efficiency value as the explained variable, and selects market concentration ratio, HHI index, GDP growth rate and capital and assets ratio as the explanatory variable. With Econometrics method, it carries on regression analysis of the relationship between the market structure and the performance from 1999 to 2008. The results show that the degree of market concentration and performance are negatively correlated, that is, the smaller the degree of market concentration, the higher the performance will be, GDP growth rate and performance are positively correlated, capital asset ratio and ROA are positively correlated and capital asset ratio and ROE are negatively correlated.
Fourthly, it proposes the four industrial organization policies. They are relaxing government regulation and lowering barriers to entry and exit, supporting small and medium sized joint-stock commercial banks and expanding scale of operation and reforming regulatory system, improving governance and management of the four major state-owned banks, improving the laws and regulations, and at last improving overall performance.
Compared with the previous literature, this paper has the following innovations. First, the new index, while appraising to the performance of banks with DEA to estimate efficiency value, we need to confirm rational input and output variable in advance, and it is important precondition to evaluate the efficiency of banks correctly. But up till now, the definition of output variable to banks still has greater difference in academic fields. In this paper, drawing lessons from domestic and international existing achievement and combining the characteristic of banks, it defines the output variable of banks as loan, profit and deposit We must know the input price while calculating the comprehensive efficiency of banks. In this paper, it selects bank operating expenses index as total labor compensation expense, i.e. isprice of labor; it selects one-year lending rate as the price of capital, i.e. interest rates. Second, the new variable, Return On Asset (ROA) and Return On Equity (ROE) is used usually in abroad as performance index, and in the regression as the dependent variable. This paper adds DEA efficiency value which is the performance index as dependent variable in order to investigate the management performance of banks overall. In this paper, with Econometrics method, it selects market concentration ratio, HHI index, GDP growth rate and capital and assets ratio as the explanatory variable and carries on regression analysis to the market structure and the performance. Third, the new idea, it uses regression analysis of econometric methods, and it is found that Herfindahl Index of banks and bank efficiency are negatively correlated. The higher the market concentration is, the lower the efficiency of banks is. I hope that the conclusion provides a new way of thinking for improvement of banks'performance.
I hope that this paper studied market structure and performance of banks comprehensively and systematicly, and can help enrich and develop the theory of China's banking system, expand and improve our banking field, and provide important reference views for China's banking reform and financial policies.
引文
①Bain, J. S.,1959, Industrial Organization, Harvard University Press.
① Hannan T.H. and Berger, A. N.,1991, "the Rigidity of Prices:Evidence from the Banking Industry", the American Economic Review, vol.81, No.4, p.938-945.
② Neumark D. and S.A. Sharpe,1992, "Market Structure and the Nature of Price Rigidity:Evidence from the Market for Consumer Deposits", the Quarterly Journal of Economics, vol.107, No.2, p.657-680.
③ Smith R Todd,1998, "Banking Competition and Macroeconomic Performance", Journal of Money, Credit and Banking, vol.30, No.4,793-815.
④ Barth Jr.J.R., Caprio G., and R. Levine.,2002, "Financial Regulation and Performance: Cross-country Evidence", Working Paper 2037, http://econ.worldbank.org.
⑤ Barajas Adolfo, Roberto Steiner and Natalia Salazar,2000, "The Impact of Liberalization and Foreign Investment in Colombia's Financial Sector", Journal of Development Economics, vol.63, No.1,157-196.
⑥ Unite Angelo A. and Sullivan Michael J.,2003, "The Effect of Foreign Entry and Ownership Structure on the Philippine Domestic Banking Market", Journal of Banking and Finance, vol.27, No.12,2323-2345.
⑦ Sealey,C.W., J.T.Lindley,1977, "Inputs, outputs and a theory of production and cost at depository financial institutions", Journal of Finance,32,1251-1266.
⑧哈维尔.弗雷克斯,让.夏尔.罗歇(美).刘锡良等译.微观银行学[M].成都：西南财经大学出版社，2000.
① Stahl,D.O.,1988, "Betrtrand competition for inputs and Walrasian outcomes", American Economic Review, vol.78, No.1,189-201. Yanelle,M.O.,1988, "The strategic analysis of intermediation", European Economic Review, vol.33, No.2/3,294-301.
② Chiappori,P.A., D.Perez-Castrillo., F. Verdier,1995,"Spatial competition in the banking system, localization, cross-subsidies and the regulation of interest rates", European Economic Review, vol.39, No.5,889-919.
③ Allen, F. and D. Gale,1992, "Arbitrage Short Sales and Financial Innovation", Econometrica,59.
④ Panzar, J. C., Rosse, J. N.,1982, "Structure, Conduct and Comparative Statistics", Bell Laboratories Economic discussion paper, No.248. Panzar, J. C. and J. N. Rosse,1987, "Testing for 'Monopoly' Equilibrium", Journal of Industrial Economics,35,443-456.
① Iwata, G.,1974, "Measurement of Conjectural Variations in Oligopoly", Econometrica,42, 947-966.
② Bresnahan, T. F.,1982, "The Oligopoly Solution Concept is Identified", Economic Letters,10, p. 87-92. Lau,L.,1982, "On Identifying the Degree of Competitiveness from Industry Price and Output Data", Economic Letters, vol.76, pp.93-99.
③ Bikker J.A. and Johannes M.Groeneveld.,2000, "Competition and Concentration in the EU Banking Industry", Credit und Capital,33,p.62-98.
④ Bikker, Jacob A. and Katharina Haaf.,2001, "Competition, Concentration and Their Relationship:An Empirical Analysis of the Banking Industry", DNB Staff Report_ De Nederlandsche Bank, No.68,7.
⑤ Bikker,J.and K.Haaf.,2002, "Competition, Concentration and Their Relationship:An Empirical Analysis of the Banking Industry", Journal of Money, Credit and Banking,35,p.2191-2214.
⑥ Keeley, M.,1990, "Deposit Insurance, Risk and Market Power in Banking", American Economic Review,80,1183-1200.
⑦ Allen, F. and D. Gale,1992, "Arbitrage Short Sales and Financial Innovation", Econometrica 59.
① Barth, Caprio and Levine,2004, "Bank Regulation and Supervision:What Works Best? "Journal of financial intermediation, pp.1-47.
② Gelos,R.G. and Roldos,J.,2002, "Consolidation and Market Structure in Emerging Market Banking Systems", IMF Working Papers, No.02/186.
③ Claessens,S.and Laeven,L.,2005, "Financial Dependence, Banking Sector Competition and Economic Growth", World Bank Policy Research Working Paper, No.5,p.3481.
④于良春,鞠源.垄断与竞争：中国银行业的改革和发展[J].经济研究,1999,(8)：48-57.
①于良春,魏如山.中国银行业的市场结构分析[J].山东金融,1999,(5)：6-9.
②秦宛顺,欧阳俊.中国商业银行业市场结构、效率和绩效[J].经济科学,2001,(4)：34-45.
③叶欣,郭建伟,冯宗宪.垄断到竞争：中国商业银行业市场结构的变迁[J].金融研究,2001,(11)：79-85
④赵旭,蒋振声,周军民.中国银行业市场结构与绩效实证研究[J].金融研究,2001,(3)：59-67.
①刘伟,黄桂田.中国银行业改革的侧重点：产权结构还是市场结构[J].经济研究,2002,(8)：3-11.
②刘伟,黄桂田.银行业的集中、竞争与绩效[J].经济研究,2003,(11)：14-21.
③杜莉,孔钺,邓吉宇.我国商业银行竞争性市场结构再造[J].社会科学战线,2002,(5)：39-43.
④王国红.论中国银行业的市场结构[J].经济评论,2002,(2)：96-103.
⑤贺春临.我国银行业的市场结构与绩效研究[J].经济评论,2004,(6)：96-102.
⑥潘正彦.对我国银行业市场结构与市场绩效的实证分析[J].金融论坛,2004年第,(6)：40-44.
①郭竞成,姚先国.场结构还是治理结构?——两种银行改革思路之检讨和中国实证[J].国际金融研究,2004(2)：65-70.
②魏文军.中国银行业结构与绩效研究[D].武汉：华中科技大学,2005.
③王红.商业银行的市场结构研究[D].武汉：华中科技大学,2005.
④邓胜梁,林华,肖德.中国银行业的市场结构与规模经济分析[J].世界经济,2005,(7)：43-50.
⑤陈伟光.银行产业组织理论研究与中国银行业结构设计[D].武汉：华中科技大学,2006.
①齐美东.中国银行产业组织市场结构研究[D].长春：吉林大学,2006.
②国际.我国商业银行集中度和市场结构分析[J].南方金融,2007,(2)：18-20.
③刘勇,穆鸿声.我国银行业的市场结构与绩效研究[J].上海金融学院学报,2007,(1)：9-17.
④李一鸣,薛峰.我国商业银行市场结构现状分析及其优化研究[J].中国工业经济,2008,(11)：78-87.
①刘剑,张晶.中国银行业市场结构、效率与绩效关系实证研究[J].长沙理工大学学报(社会科学版),2008,(9)：16-22.
②徐忠,沈艳,王小康,沈明高.市场结构与我国银行业绩效：假说与检验[J].经济研究,2009,(10)：75-86.
③柯健.我国商业银行市场结构和市场绩效的实证分析[J].金融管理与研究,2009,(12)：29-34.
④汪来喜.中国商业银行市场结构的路径变化和应对方略[J].金融理论与实践,2009,(6)：72-75.
⑤任森春,李峥峰.我国商业银行市场结构与X效率的实证研究[J].中国证券期货,2009,(6)：76-77.
⑥曾江洪,樊娜娜.我国商业银行市场结构与市场绩效的关系研究[J].统计与决策,2010,(5)：139-141.
①李继民,胡坚.中国银行业市场结构、绩效与规模经济——基于2004-2007年面板数据的实证研究[J].金融理论与实践,2010,(6)：3-8.
②Alhadeff, D.,1954, Monopoly and Competition in Banking, University of California Press.
① Farrell, M. J.,1957, "The measurement of productive efficiency", Journal of the Royal Statistical Society,120 (3),253-281.
② Sherman,D. and Gold,F.,1985, "Bank branch operating efficiency:Evaluation with data envelopment analysis", Journal of Banking and Finance,9,297-315.
③ Rangan, N., R. Gawbowski, H. Y. Aly and C. Pasurka,1988, The technical efficiency of US banks, Economics Letters,28.
④ Oral,M. and Yolalan,R.,1990, "An empirical study on measuring operating efficiency and profitability of bank branches", European Journal of Oerational Research, Vol.46,No.3,282-294.
⑤ Yue, P.,1992, "Data Envelopment Analysis and Commercial Bank Performance:A Primer with Applications to Missouri Banks", Federal Reserve Bank of St. Louis Economic Review, No.1, pp. 31-45.
⑥ Berg, S. A., Forsund, F. R., Hjalmarsson, L. and Souminen, M.,1993, "Banking Efficiency in Nordic Countries", Journal of Banking and Finance, Vol.17, pp.371-388.
① Favero, C. and Papi,L.,1995, "Technical Efficiency and Scale Efficiency in the Italian Banking Sector:A Non—parametric Approach", Applied Economics,27, pp.385-395.
② Saha,A. and Ravisankar, T. S.,2000, "Rating of Indian Commercial Banks:A DEA Approach", European Journal of Operational Research,124, pp.187-203.
③ Molyneux, P.1997, Efficiency in European banking, Garland:New York.
④ Sathye, M.,2001, "X-efficiency in Australian banking:An empirical investigation", Available online 6 February.
⑤ Grigorian, D. A. and Manole, V.2002, "Determinants of commercial bank performance in transition:An application of data development analysis, working paper of IMF.
⑥Isik, I. and Hassan, M. K.,2002, "Technical,scale and allocative efficiencies of Turkish banking industry", Journal of Banking and Finance,26,719-766.
⑦ Mlima, Hjalmarsson,2002, "Input and Output in Banking Industry", Tanzanet Journal, vol.3(1), 12-22.
① Sathye,M.,2003, "Efficiency of Banks in a Developing Economy:The Case of India", European Journal Operational Reseach,148, pp.662-671.
②杨宝臣,刘铮,高春阳.商业银行有效性评价方法[J].管理工程学报,1999,(1)：13-18.
③魏煜,王丽.中国商业银行效率研究：一种非参数的分析[J].金融研究,2000,(3)：88-96.
①赵旭,凌亢.国有银行效率决定因素实证分析[J].统计研究,2000,(8)：12-17.
②秦宛顺,欧阳俊.中国商业银行业市场结构、效率和绩效[J].经济科学,2001,(4)：34-45.
③赵旭,凌亢.影响我国银行业效率因素的实证研究[J].决策借鉴,2001,(2)：24-29.
④张健华.我国商业银行效率研究的DEA方法及1997-2001年效率的实证分析[J].金融研究,2003,(3)：11-25.
①朱南,卓贤,董屹.关于我国国有商业银行效率的实证分析与改革策略[J].管理世界,2004,(2)：18-26.
②陈敬学.中国国有商业银行效率研究[D].武汉：华中科技大学,2004.
③刘汉涛.对我国商业银行效率的测度：DEA方法的应用[J].经济科学,2004,(6)：48-58.
④郑鸣,张燕.中国银行业效率的实证研究[J].厦门大学学报(哲学社会科学版),2004,(6)：106-114.
①彭琦,邹康,赵子铱.1993-2003年中国银行业效率的实证分析——基于DEA测度技术的运用[J].经济评论,2005,(4)：82-89.
②郑录军,曹廷求.我国商业银行效率及其影响因素的实证分析[J].金融研究,2005,(1)：91-101.
③郭妍.我国商业银行效率决定因素的理论探讨与实证检验[J].金融研究,2005,(2)：115-123.
④李琪,李光泉,韩泽县.我国商业银行效率评价的DEA模型[J].天津大学学报(社会科学版),2005,(1)：6-10.
⑤鲁志勇,于良春.基于DEA的中国国有商业银行效率变化实证研究[J].开发研究,2006,(1)：100-103.
④许晓雯,时鹏将.我国商业银行经济效率及影响因素分析[J].当代经济科学,2006,(1)：45-48.
②周四军.中国商业银行效率研究[D].长沙：湖南大学,2006.
③邹朋飞.中国商业银行效率研究[D].广州：暨南大学,2007.
④周小燕.经济转型中我国商业银行效率与相关因素研究[D].上海：复旦大学,2007年.
⑤王忻,马永红,王国峰,郑晓齐.我国商业银行效率研究[J].管理世界,2007,(12)：154-155.
①王宪明.产权结构与中国商业银行效率变化的实证研究——基于交叉评价DEA方法的分析[D].济南：山东大学,2007.
②谭政勋.中国银行业效率结构与制度研究[D].广州：暨南大学,2008.
③李栋.中国商业银行效率实证研究[D].天津：天津大学,2008.
④赵石磊.中国商业银行x效率实证研究[D].长春：吉林大学,2008.
⑤刘芬.中国商业银行效率：基于动态视角的理论与经验研究[D].沈阳：辽宁大学,2009.
⑥宋增基,张宗益,袁茂.中国银行业DEA效率实证分析[J].系统工程理论与实践,2009,(12)：105-110.
①蒲勇健,胡东.基于动态DEA模型的商业银行综合效率评价[J].统计与决策,2009,(22)：70-72.
②袁晓玲,张宝山.中国商业银行全要素生产率的影响因素研究[J].数量经济技术经济研究,2009,(4)：93-116.
③ Bain, J. S.,1959, Industrial Organization, Harvard University Press.
④ Shepherd, William G.,1982, "Economies of scale and monopoly profits", Industrial organization, antitrust, and public policy, edit by J. V. Craven. Boston:Kluwer Nijhoff.
① Demsetz, Harold.1973, "Industry Structure, Market Rivalry and Public Policy", Journal of Law and Economics,16,1-9. Peltzman, Sam,1977, "The Gains and Losses from Industrial Concentration", Journal of Law and Economics,20,229-263.
② Lambson, Val E.,1987 "Is the concentration profit correlation partly an artifact of lumpy technology?", American Economic Review,11,731-733.
③ Edwards,F.R.,1964, "Concentration in banking and its effects on business loan rates", Review of Economics and Statistics,46,pp.294-300.
① Demsetz, Harold.1973, "Industry Structure, Market Rivalry and Public Policy", Journal of Law and Economics,16,1-9.
② Peltzman, Sam,1977, "The Gains and Losses from Industrial Concentration", Journal of Law and Economics,20,229-263.
③ Rhoades, S.,1982, "Welfare Loss, Redistribution Effects and Restriction of Output Due to Monopoly in Banking", Journal of Monetary Economics,9, p.375-387.
④ Smirlock, M.,1985, "Evidence on the (Non) Relationship between Concentration and Profitability", Journal of Money, Credit, and Banking, Vol.17,69-83.
⑤ Shepherd, W. G.,1986, "Tobin's q and the Structure- performance Relationship:Comment", the American Economic Review, vol.76, No.5, p.1205-1210.
⑥ Evanoff,1988, "Fortier Cost economies and interest rate margins in a unified European banking market", Journal of Economics and Business, Vol.48, Issue 3, P.231-249.
⑦ Bourke, Phillip,1989,"Concentration and Other Determinants of Banks Profitability in Europe, North America, and Australia, Journal of Banking and Finance,13, p.65-79.
⑧ Berger, A. N. and T. Hannan,1989, "The price concentration relationship in banking", The Review of Economics and Statistics, vol.74, No.2, p.376-379.
① Jackson, W.,1992a, "Is the Market Well Defined in Bank Merger and Acquisition Analysis?", Review of Economics and Statistics, Vol.74. No.2, p.373-376.
② Martin, S.,1993, Advanced Industrial Economics, Blackwell, New York and Oxford.
③ Molyneux,Ph. and Teppet,J.,1993, "Structure-conduct-performance in EFTA banking markets", Bank-en Financiewezen 3,133-137.
④ Lioyd-Williams, D.M.,Molyneux,Ph. and Thornton,J.,1994,"Market structure and performance in Spanish banking,", Journal of Banking and Finance,18,433-443.
⑤ Ruthenberg, D.1994, "Structure- performance and Economics of Scale in Banking in a Unified Europe", Bank of Israel Banking Review, No.4, p.95-114.
⑥ Vesala, J.1995, "Testing for Competition in Banking:Behavioral Evidence from Finland", Bank of Finland Studies,1.
⑦ Rogers, E. M. & Shoemaker, F. F.,1995, Communication of innovation:a cross cultural approach, New York:The Free Press.
⑧ Goldberg, Lawrence G, and Anoop Rai,1996, "The structure performance relationship for European banking", Journal of Banking & Finance, Vol.20,745-771.
① Frame, W. S., Kamerschem, D. R.1997, "The Profit-Structure Relationship in legally Protected Banking Market Using Efficiency Measures", Review of Industrial Organization,12(1).
② Maudos Joaquin,1998, "Market Structure and Performance in Spanish Banking Using a Direct Measure of Efficiency", Applied Financial Economics, No.8, p191-200.
③ Vennet, Rudi Vander,2002, "Cost and Profit Efficiency of Financial Conglomerate and Universal Banks in Europe", Journal of Money, Credit and Banking,34,254-282.
④ Maudos, Joaquin, Pastor, Jose M. and Perez, Francisco,2002, "Competition and Efficency in the Spanish Banking Sector:The Importance of Specialization", Applied Financial Economics, Taylor and Francis Journals, vol.12(7),505-516.
⑤ Smirlock, M.,2005, "Review of Antitrust Law:Economic Theory & Common Law Evolution by Keith N. Hylton", Journal of Economic Literature.
①秦宛顺,欧阳俊.中国商业银行业市场结构、效率和绩效[J].经济科学,2001,(4)：34-45.
②赵旭,蒋振声,周军民.中国银行业市场结构与绩效实证研究[J].金融研究,2001,(3)：59-67.
③贺春临.我国银行业的市场结构与绩效研究[J].经济评论,2004,(6)：96-102.
①城市商业银行,本质也都属于股份制企业,由于其业务范围的局限,故称之为“城市商业银行”。
[1]奥兹·夏伊(美).周战强,王子健,危结根译.产业组织：理论与应用[M].北京：清华大学出版社,2005.
[2]埃尔玛·沃夫斯岱特.范翠红译.高级微观经济学：产业组织理论、拍卖和激励理论[M].上海：上海财经大学出版社,2003.
[3]蔡丛露.银行业市场结构、产权结构与金融业稳定研究[D].厦门：厦门大学,2007.
[4]曹鸿涛.中国银行间债券市场：结构、行为与绩效研究[D].广州：暨南大学,2005.
[5]曹鸿涛.中国银行间债券市场：结构、行为、绩效[M].北京：经济科学出版社,2006.
[6]陈成忠,曹小鹏.微观机制、市场结构和宏观环境：经济发达地区商业银行经营绩效分析——常州个案研究[J].金融研究,2001,(6)：122-129.
[7]陈敬学.中国国有商业银行效率研究[D].武汉：华中科技大学,2004.
[8]陈敬学..中国银行业市场结构与市场绩效的实证分析[J].统计研究,2004,(5)：25-29.
[9]陈敬学.基于DEA方法的我国商业银行获利能力研究[J].市场论坛,2007(3)：71-72.
[10]陈敬学.中国银行业的效率：一个基于超效率DEA模型的实证研究[J].统计与决策,2008,(24)：133-135.
[11]陈伟光.银行产业组织与中国银行业结构[M].北京：中国金融出版社,2007.
[12]陈伟光.银行产业组织理论研究与中国银行业结构设计[D].武汉：华中科技大学,2006.
[13]陈秀山.现代竞争理论与兑竞争政策[M].北京：商务印书馆,1997.
[14]程昶志.银行业市场结构与国有商业银行的规模经济性析[J].统计与决策,2006,(9)：98-100.
[15]崔晓峰.银行产业组织理论与政策研究[D].北京：中国社会科学院,2003.
[16]崔晓峰.银行产业组织理论与政策研究[M].北京：机械工业出版社,2005.
[17]丹尼斯·卡尔顿,杰弗里·佩罗夫(美).现代产业组织[M].上海：上海三联书店，1998.
[18]德沃特里庞,泰勒尔.石磊,王永钦译.银行监管[M].上海：复旦大学出版社,2002.
[19]邓胜梁,林华,肖德.中国银行业的市场结构与规模经济分析[J].世界经济,2005(7)：43-50.
[20]邓智毅.金融效率制度性分析[M].北京：中国金融出版社,2003.
[21]多纳德·海,德理克·莫瑞斯(英).钟鸿钧,王勇等译.产业经济学与组织[M].北京：经济科学出版社,2001.
[22]杜传忠.寡头垄断市场结构与经济效率——兼论中国市场结构调整[M].经济科学出版社,2003.
[23]杜莉,孔钺,邓吉宇.我国商业银行竞争性市场结构再造[J].社会科学战线,2002,(5)：39-43.
[24]范方志.银行业市场结构与经济绩效研究综述[J].深圳职业技术学院学报,2004,(2)：48-52.
[25]郭竞成,姚先国.场结构还是治理结构?——两种银行改革思路之检讨和中国实证[J].国际金融研究,2004(2)：65-70.
[26]郭妍.我国商业银行效率决定因素的理论探讨与实证检验[J].金融研究,2005,(2)：115-123.
[27]国际.我国商业银行集中度和市场结构分析[J].南方金融,2007,(2)：18-20.
[28]国庆.我国商业银行市场结构分析及优化对策[J].长白学刊,2007,(6)：89-92.
[29]哈威尔·E·杰克逊,小爱德华·L·西蒙斯.吴志攀等译.金融监管[M].北京：中国政法大学出版社,2003.
[30]哈维尔.弗雷克斯,让.夏尔.罗歇(美).刘锡良等译.微观银行学[M].成都：西南财经大学出版社,2000.
[31]何韧.银行业市场结构、效率和绩效的相关性研究[J].财经研究,2005,(12)：29-40.
[32]贺春临.我国银行业的市场结构与绩效研究[J].经济评论,2004,(6)：96-102.
[33]侯世宇.商业银行市场结构与银行x效率[J].广西金融研究,2006,(1)：34-36.
[34]胡怀邦.银行监管：国际经验与中国实践[M].北京：中国金融出版社,2008.
[35]黄宪.中国银行业效率分析的研究方法[J].国际金融研究,1998,(7)：32-35.
[36]J.卡布尔.于立,张嫚,王小兰译.产业经济学前沿问题[M].北京：中国税务出版社，2000.
[37]柯健.我国商业银行市场结构和市场绩效的实证分析[J].产经评论,2010,(1)：114-123.
[38]柯健.我国商业银行市场结构和市场绩效的实证分析[J].金融管理与研究,2009,(12)：29-34.
[39]克拉克森.K.W.,米勒.R.L.(美).华东化工学院经济发展研究所译.产业组织：理论、证据和公共政策[M].上海：三联书店上海分店,1989.7.
[40]李栋.中国商业银行效率实证研究[D].天津：天津大学,2008.
[41]李风华.中国投资银行业市场结构与绩效研究[D].杭州：浙江大学,2006.
[42]李继民,胡坚.中国银行业市场结构、绩效与规模经济——基于2004-2007年面板数据的实证研究[J].金融理论与实践,2010,(6)：3-8.
[43]李琳.中国银行业市场化与监管政策：从产业组织理论的角度分析[D].济南：山东大学,2005.
[44]李琪,李光泉,韩泽县.我国商业银行效率评价的DEA模型[J].天津大学学报(社会科学版),2005,(1)：6-10.
[45]李文军.商业银行的效率与竞争力[M].北京：经济管理出版社,2008.
[46]李一鸣,薛峰.我国商业银行市场结构现状分析及其优化研究[J].中国工业经济,2008,(11)：78-87.
[47]理查德·施马兰西,罗伯特·D·威利格(美).李文溥等译.产业组织经济学手册[M].北京：经济科学出版社,2009.
[48]刘芬.中国商业银行效率：基于动态视角的理论与经验研究[D].沈阳：辽宁大学,2009.
[49]刘汉涛.对我国商业银行效率的测度：DEA方法的应用[J].经济科学,2004,(6)：48-58.
[50]刘佳.中国银行业效率的实证分析(1999-2005年)——基于投入导向DEA模型的应用[J].重庆工商大学学报(社会科学版),2008,(5)：32-38.
[51]刘剑,张晶.中国银行业市场结构、效率与绩效关系实证研究[J].长沙理工大学学报(社会科学版),2008,(9)：16-22.
[52]刘明志.银行管制的收益和成本[M].北京：中国金融出版社,2003.
[53]刘伟,黄桂田.中国银行业改革的侧重点：产权结构还是市场结构[J].经济研究,2002,(8)：3-11.
[54]刘伟,黄桂田.银行业的集中、竞争与绩效[J].经济研究,2003,(11)：14-21.
[55]刘威伟,黄波.我国银行业市场结构、效率及绩效关系研究[J].企业技术开发,2007,(1)：67-69.
[56]刘易斯·卡布罗(美).胡汉辉,赵震翔译.产业组织导论[M].北京：人民邮电出版社,2002.
[57]刘勇.银行业产业组织研究：综述与展望[J].财经问题研究,2007,(3)：47-54.
[58]刘勇,穆鸿声.我国银行业的市场结构与绩效研究[J].上海金融学院学报,2007,(1)：9-17.
[59]刘张君.金融管制放松条件下的银行业自律研究[M].北京：中国金融出版社，2009.
[60]鲁志勇.经济学视角的国有商业银行效率与竞争力实证研究[D].济南：山东大学,2006年。
[61]鲁志勇,于良春.基于DEA的中国国有商业银行效率变化实证研究[J].开发研究,2006,(1)：100-103.
[62]倪海江,万迪防.中国商业银行效率分析：市场结构、产权结构和超产权理论比较[J].金融与经济,2006,(2)：20-22.
[63]潘正彦.对我国银行业市场结构与市场绩效的实证分析[J].金融论坛,2004年第,(6)：40-44.
[64]佩特·D.斯潘瑟著(美).戴国强等译.金融市场结构与监管[M].上海：上海财经大学出版社,2005.
[65]彭琦.中国商业银行绩效决定因素的实证研究[D].成都：西南财经大学,2006.
[66]彭琦,邹康,赵子铱.1993-2003年中国银行业效率的实证分析——基于DEA测度技术的运用[J].经济评论,2005,(4)：82-89.
[67]蒲勇健,胡东.基于动态DEA模型的商业银行综合效率评价[J].统计与决策,2009,(22)：70-72.
[68]戚聿东.中国经济运行中的垄断与竞争[M].人民出版社,2004.
[69]齐美东.中国银行产业组织市场结构研究[D].长春：吉林大学,2006.
[70]齐树天.商业银行绩效、效率与市场结构——基于中国1994～2005年的面板数据[J].国际金融研究,2008,(3)：48-56.
[71]乔治.J.施蒂格勒(美).潘振民译.产业组织和政府管制[M].上海：三联书店上海分店出版，1989.10.
[72]乔治·J.施蒂格勒(美)著王永钦,薛锋译.产业组织[M].上海：上海三联书店，2006.
[73]秦宛顺,欧阳俊.中国商业银行业市场结构、效率和绩效[J].经济科学,2001,(4)：34-45.
[74]让.泰勒尔(法).马捷等译.产业组织理论[M].北京：中国人民大学出版社,1997.
[75]任森春,李峥峰.我国商业银行市场结构与x效率的实证研究[J].中国证券期货,2009,(6)：76-77.
[76]沈军.金融效率论：二元视角下的理论分析与中国实证研究[M].北京：经济科学出版社,2006.
[77]史纪良.银行监管比较研究[M].北京：中国金融出版社,2005.
[78]史忠良.产业经济学(第2版)[M].北京：经济管理出版社,2005.
[79]孙建波,杨立春.我国商业银行金融生态：基于市场结构与绩效的实证研究[J].中国地质大学学报(社会科学版),2006，,(7)：14-17.
[80]孙志华,丁一波.我国商业银行业市场结构与绩效的“背离”：一个理论误区[J].山东经济,2005,(3)：92-94.
[81]宋增基,张宗益,袁茂.中国银行业DEA效率实证分析[J].系统工程理论与实践,2009,(12)：105-110.
[82]索贵彬,赵国杰.基于变规模DEA方法的国有商业银行效率评价[J].西安电子科技大学学报,2005,(3)：43-46.
[83]谭鹏万.中国银行业的市场结构与银行绩效关系研究——基于33家商业银行面板数据的实证检验[J].南方经济,2006,(12)：70-83.
[84]谭政勋.中国银行业效率结构与制度研究[D].广州：暨南大学,2008.
[85]谭政勋.我国商业银行效率的影响因素：产权制度还是市场结构[J].当代财经,2005,(11)：22-27.
[86]唐E.沃德曼,伊丽莎白J.詹森(美).李宝伟,武立东,张云译.产业组织：理论与实践[M].北京：机械工业出版社,2009.
[87]唐晓华.产业组织与信息[M].北京：经济管理出版社,2005.
[88]滕春强.我国商业银行市场结构变迁中的效率悖论：一个新的分析视角[J].山东经济,2007,(2)：93-97.
[89]涂万春,陈奉先.产权、市场结构与中国银行业绩效[J].产业经济研究,2006,(4)：42-53.
[90]吴韦华.提高商业银行竞争力：市场结构改革还是产权结构改革[J].中南财经政法大学学报,2005,(1)：95-101.
[91]汪来喜.中国商业银行市场结构的路径变化和应对方略[J].金融理论与实践,2009,(6)：72-75.
[92]王栋,王静然.中国商业银行集中度与回报率背离分析[J].武汉金融,2000,(4)：7-9
[93]王广谦.经济发展中金融的贡献与效率[M].北京：中国人民大学出版社,1997.
[94]王国红.论中国银行业的市场结构[J].经济评论,2002,(2)：96-103.
[95]王红.商业银行的市场结构研究[D].武汉：华中科技大学,2005.
[96]王会宗.中国商业银行市场结构与市场绩效分析[J].延安大学学报(社会科学版),2006,(6)：53-57.
[97]王军生.金融市场结构研究：国际经验和中国选择[M].北京：经济科学出版社，2007.
[98]王俊豪.产业经济学[M].北京：高等教育出版社,2008.
[99]王俊豪.管制经济学原理[M].北京：高等教育出版社,2007.
[100]王宁、李植.数据包络分析法DEA在我国商业银行效率研究中的运用[J].当代经济管理,2006,(1)：67-72.
[101]王宪明.产权结构与中国商业银行效率变化的实证研究——基于交叉评价DEA方法的分析[D].济南：山东大学,2007.
[102]王忻,马永红,王国峰,郑晓齐.我国商业银行效率研究[J].管理世界,2007,(12)：154-155.
[103]王颖捷.金融产业组织的市场结构[M].北京：机械工业出版社,2004.
[104]王振山.金融效率论：金融资源优化配置的理论与实践[M].北京：经济管理出版社，2000.
[105]威廉·G谢泼德,乔安娜·M.谢泼德(美).张志奇,陈叶盛,崔书锋译.产业组织经济学[M].北京：中国人民大学出版社,2007.
[106]魏后凯.市场竞争、经济绩效与产业集中[M].北京：经济管理出版社,2003.
[107]魏权龄.评价相对有效性的DEA方法：运筹学的新领域[M].北京：中国人民大学出版社,1988.11.
[108]魏文军.中国银行业结构与绩效研究[D].武汉：华中科技大学,2005.
[109]魏煜,王丽.中国商业银行效率研究：一种非参数的分析[J].金融研究,2000,(3)：88-96
[110]武捷思.中国国有银行行为研究[M].北京：中国金融出版社,1999.1.
[111]夏大慰.产业政策论[M].上海：复旦大学出版,1995.
[112]夏大慰.产业组织学[M].上海：复旦大学出版社,1994.5.
[113]肖兴志,张嫚.产业经济学[M].北京：首都经济贸易大学出版社,2007.
[114]谢地.产业组织经济学[M].长春：吉林大学出版社,1998.
[115]谢地.政府规制经济学[M].北京：高等教育出版社,2003.
[116]谢地.产业组织优化与经济集约增长[M].北京：中国经济出版社,1999.
[117]谢地.自然垄断行业国有经济调整与政府规制改革互动论[M].北京：经济科学出版社，2007.
[118]谢地.产权视角的国有商业银行改革问题研究[J].河南社会科学,2005,(3)：5-8.
[119]谢地.产业组织政策模式的国际比较与借鉴[J].经济学动态,2003,(9)：91-93.
[120]谢地,何琴.关于证券市场政府监管“度”的若干思考[J].学习与探索,2007,(4)：154-157.
[121]谢勒著,萧雄译.产业结构与经济绩效[M]台湾国民出版社,1991.
[122]谢平,焦谨璞.中国商业银行改革[M].北京：经济科学出版社,2002.
[123]辛子波.银行监管体系的国际比较[M].北京：中国财政经济出版社,2008.
[124]徐传谌,谢地.产业经济学[M].北京：科学出版社,2007.
[125]许晓雯,时鹏将.我国商业银行经济效率及影响因素分析[J].当代经济科学,2006,(1)：45-48.
[126]徐忠,沈艳,王小康,沈明高.市场结构与我国银行业绩效：假说与检验[J].经济研究,2009,(10)：75-86.
[127]姚树洁,冯根福,姜春霞.中国银行业效率的实证分析[J].经济研究,2004,(8)：4-15.
[128]杨宝臣,刘铮,高春阳.商业银行有效性评价方法[J].管理工程学报,1999,(1)：13-18.
[129]杨德勇.金融产业组织理论研究[M].北京：中国金融出版社,2004.
[130]杨凤春.中国商业银行市场结构分析——基于Panzar-Rosse模型[J].兰州商学院学报,2008,(6)：78-83.
[131]杨公朴,夏大慰.现代产业经济学[M].上海：上海财经大学出版社,2005.
[132]叶欣,郭建伟,冯宗宪.垄断到竞争：中国商业银行业市场结构的变迁[J].金融研究,2001,(11)：79-85
[133]于立.当代西文产业组织学[M].大连：东北财经大学出版社,2002.
[134]于立.产业经济学理论与实践问题研究[M].北京：经济管理出版社,2000.
[135]于立,肖兴志.产业经济学的学科定位与理论应用[M].大连：东北财经大学出版社,2002.
[136]于良春.自然垄断与政府规制——基本理论与政策分析[M].北京：经济科学出版社，2003.
[137]于良春,高波.中国银行业规模经济效益与相关产业组织政策[J].中国工业经济,2003,(3)：40-48.
[138]于良春,鞠源.垄断与竞争：中国银行业的改革和发展[J].经济研究,1999,(8)：48-57.
[139]于良春,王会宗.商业银行市场结构与经济增长关系的实证分析[J].延安大学学报(社会科学版),2007,(6)：52-55.
[140]于良春,魏如山.中国银行业的市场结构分析[J].山东金融,1999,(5)：6-9.
[141]袁晓玲,张宝山.中国商业银行全要素生产率的影响因素研究[J].数量经济技术经济研究,2009,(4)：93-116.
[142]袁鹰.我国银行业市场结构效应分析——兼论其对中小商业银行市场定位的影响[J].财经研究,2000,(12)：14-20.
[143]曾江洪,樊娜娜.我国商业银行市场结构与市场绩效的关系研究[J].统计与决策,2010(5)：139-141
[144]张贵乐,于左.合作金融论[M].大连：东北财经大学出版社,2001.
[145]张健华.我国商业银行效率研究的DEA方法及1997-2001年效率的实证分析[J].金融研究,2003,(3)：11-25.
[146]张健华.我国商业银行效率的X效率分析[J].金融研究,2003,(6)：7-11.
[147]张磊.银行业的产业结构、行为与绩效——从产业组织学角度对银行业进行分析[J].外国经济与管理,2000,(3)：2-9.
[148]张权,张世英.国有商业银行人力资源效率分析[J].甘肃科学学报,2004,(2)：115-120.
[149]张耀辉.产业组织与规制[M].北京：经济科学出版社,2006.
[150]张震宇,黄筱伟,王静.制度环境、市场结构与商人文化：决定银行业绩效的三因素研究[J].金融研究,2003,(2)：113-122.
[151]张昕竹.中国规制与竞争：理论与政策[M].社会科学文献出版社,2000.
[152]赵石磊.中国商业银行x效率实证研究[D].长春：吉林大学,2008.
[153]赵旭.国有商业银行效率的实证分析[J].经济科学,2000,(6)：45-50.
[154]赵旭,蒋振声,周军民.中国银行业市场结构与绩效实证研究[J].金融研究,2001,(3)：59-67.
[155]赵旭,凌亢.国有银行效率决定因素实证分析[J].统计研究,2000,(8)：12-17.
[156]赵旭,凌亢.影响我国银行业效率因素的实证研究[J].决策借鉴,2001,(2)：24-29.
[157]赵玉龙.我国银行业结构：竞争与效率的实证研究[D].长春：吉林大学,2009.
[158]郑录军,曹廷求.我国商业银行效率及其影响因素的实证分析[J].金融研究,2005,(1)：91-101.
[159]郑呜,张燕.中国银行业效率的实证研究[J].厦门大学学报(哲学社会科学版),2004,(6)：106-114.
[160]植草益(日).卢东斌译.产业组织论[M].北京：中国人民大学出版社,1988.11.
[161]周四军.中国商业银行效率研究[D].长沙：湖南大学,2006.
[162]周小燕.我国商业银行市场结构与银行效率的相关性分析——基于SCP理论的研究[J].世界经济情况,2007,(7)：23-26.
[163]周小燕.经济转型中我国商业银行效率与相关因素研究[D].上海：复旦大学,2007年。
[164]周子衡.金融管制的确立及其变革[M].上海：三联书店上海分店,2005.
[165]朱南,卓贤,董屹.关于我国国有商业银行效率的实证分析与改革策略[J].管理世界,2004,(2)：18-26.
[166]邹朋飞.中国商业银行效率研究[D].广州：暨南大学,2007.
[167]Aigner, D., C. A. K. Lovell and P. Schmidt,1977, "Formulation and estimation of stochastic frontier production models", Journal of Econometrics,6.
[168]Alan Gart,1994, "Regulation, Deregulation, Reregulation", John Wiley & Sons, Inc.
[169]Alhadeff, D.,1954, Monopoly and Competition in Banking, University of California Press.
[170]Allen, F. and D. Gale,1992, "Arbitrage Short Sales and Financial Innovation", Econometrica 59.
[171]Armen Alchian and Harold Demsetz,1972, "Production, Information Costs, and Economic Organization", American Economic Review, vol.62, issue 5, pages 777-795.
[172]Ashton, John,1998, "Cost efficiency, economies of scale and Economies of scope in the British retail banking sector", Bournemouth University, School of Finance & Law, Working Paper Series No.98-113.
[173]Ashton, John,2000, "Cost efficiency, economies of scale and Economies of scope in the Atemnkeng, Nzongang/Market Structure and Profitability Performance in the Banking Industry of CFA Countries:The Case of Commercial Banks in Cameroon", African Journal of Economic Policy,4(2).
[174]Bain, J. S.,1956. Barries to New Competitions, Cambridge MA. Harrard University Press, p.3, p.114, p.13.
[175]Bain, J. S.,1959, Industrial Organization, Harvard University Press.
[176]Barajas Adolfo, Roberto Steiner and Natalia Salazar,2000, "The Impact of Liberalization and Foreign Investment in Colombia's Financial Sector" Journal of Development Economics, vol.63, No.1,157-196.
[177]Barth Jr.J.R., Caprio G., and R. Levine.,2002, "Financial Regulation and Performance:Cross-country Evidence", Working Paper 2037, http://econ.worldbank.org.
[178]Barth, Caprio and Levine,2004, "Bank Regulation and Supervision:What Works Best?" Journal of financial intermediation, pp.1-47.
[179]Bauer, P.,1990, "Recent Developments in the Econometric Estimations of Frontiers", Journal of Econometrics,46.
[180]Berg, S. A., Forsund, F. R., Hjalmarsson, L. and Souminen, M.,1993, "Banking Efficiency in Nordic Countries", Journal of Banking and Finance, Vol.17, pp. 371-388.
[181]Berger, A. N.,1993, "Distribution- free Estimates of Efficiency in the U.S. Banking System and Tests of the Standard Distributional Assumptions", Journal of Productivity Analysis,4, p.261-292.
[182]Berger, Allen N.,1995, "The Profit Structure Relationship in Banking Tests of Market Power and Efficient Structure Hypotheses", Journal of Money, Credit, and Banking, Vol.27(2). p.404-431.
[183]Berger, Allen N., D. Hancock & D. B. Humphrey.1993, "Bank Efficiency Derived from the Profit function", Journal of Banking and Finance,17, p.317-347.
[184]Berger, A. N. and L. J. Mester,1997, "Inside the Black Box:What Explains Differences in the Efficiencies of Financial Institution", Journal of Banking and Finance,21, p.895-947.
[185]Berger, A. N., J.Leusner and J.Mingo,1997, "The Efficiency of Bank Branches", Journal of Monetary Economics,40.
[186]Berger, A. N. and T. Hannan,1989, "The price concentration relationship in banking", The Review of Economics and Statistics, vol.71, p.291-299.
[187]Berger, A. N. and T. Hannan,1989, "The price concentration relationship in banking", The Review of Economics and Statistics, vol.74, No.2, p.376-379.
[188]Bertscholtens and Dick Van Wensveen,2000. "A Critique on the Theory of Financial Intermediation", Journal of Banking and Finance,24, p.243.
[189]Bertero, E.,1994, "The Banking System,Financial Markets,and Capital Structure: Some New Evidence from France", Oxford Review of Economic Policy,19.
[190]Bikker,J.and K.Haaf.,2002, "Competition, Concentration and Their Relationship: An Empirical Analysis of the Banking Industry", Journal of Money, Credit and Banking,35,p.2191-2214.
[191]Bikker, Jacob A. and Katharina Haaf.,2001, "Competition, Concentration and Their Relationship:An Empirical Analysis of the Banking Industry", DNB Staff Report_De Nederlandsche Bank, No.68,7.
[192]Bikker J.A. and Johannes M.Groeneveld.,2000, "Competition and Concentration in the EU Banking Industry", Credit und Capital,33,p.62-98.
[193]BirgOl Sakar,2006, "A study on efficiency and productivity of Turkish banks in Istanbul stock exchange using Malmquist DEA" The Journal of American Academy of Business,3.
[194]Bourke, Phillip,1989, "Concentration and Other Determinants of Banks Profitability in Europe, North America, and Australia, Journal of Banking and Finance,13, p.65-79.
[195]Bresnahan, T. F.,1982, "The Oligopoly Solution Concept is Identified", Economic Letters,10, p.87-92.
[196]Bresnahan, T.F.1989, "Empirical studies of industries with market power", Handbook of Industrial Organization, Volume 2, p.1012-1055.
[197]Carlin and Mayer,2003, "Finance, investment, and growth", Journal of Financial Economics,69 (1),p.191-2261.
[198]Cetorelli N. and Nicolal,1997, "The Role of Credit Market Competition on Lending Strategies and on Capital Accumulation", Federal Reserve Bank of Chicago Working Paper, No.197.
[199]Cetorelli, N. and Gambera,2001, "Banking Structure, Financial Dependence and Growth", International Evidence from Industry Data Journal of Finance,56, p. 617-648.
[200]Charnes, A., Cooper, W., Rhodes, E.,1978, "Measuring the efficiency of decision making units", European Journal of Operational Research,2,429-444.
[201]Chiappori,P.A., D.Perez-Castrillo., F. Verdier,1995, "Spatial competition in the banking system, localization, cross-subsidies and the regulation of interest rates", European Economic Review, vol.39, No.5,889-919.
[202]Claessens,S. and Laeven,L.,2005, "Financial Dependence, Banking Sector Competition and Economic Growth", World Bank Policy Research Working Paper, No.5,p.3481.
[203]Cowling, K.G,1976, "On the Theoretical Specification of Industrial Structure-performance Relationships", European Economic Review,8,1-14.
[204]Cowling, K.G. and M. Waterson,1976, "Price- Cost Margins and Market Structure", Economica,43,267-274.
[205]Demsetz, Harold.1973, "Industry Structure, Market Rivalry and Public Policy", Journal of Law and Economics,16,1-9.
[206]Diamond and Douglas, W.,1984, "Monitoring and Reputation:The Choice between Bank Loans and Directly Placed Debty", Journal of Political Economy, vol.199 (4),689-721.
[207]Dickson, V. A.,1981, "Conjectural Variation Elasticities and Concentration", Economics Letters,7,281-285.
[208]Edwards,F.R.,1964, "Concentration in banking and its effects on business loan rates", Review of Economics and Statistics,46,pp.294-300.
[209]Evanoff,1988, "Fortier Cost economies and interest rate margins in a unified European banking market", Journal of Economics and Business, Vol.48, Issue 3, P.231-249.
[210]Farrell, M. J.,1957, "The measurement of productive efficiency", Journal of the Royal Statistical Society,120 (3),253-281.
[211]Favero, C. and Papi,L.,1995, "Technical Efficiency and Scale Efficiency in the Italian Banking Sector:A Non-parametric Approach", Applied Economics,27, pp.385-395.
[212]Fhlin, C.2000, "Banking Industry Structure, Competition, and Performance: Does Universality Matter", California Institute of Technology, Social Science Working Paper.
[213]Franklin Allen and Douglas Gale,2000, Comparing Financial Systems, The MIT Press.
[214]Frame, W. S., Kamerschem, D. R.1997, "The Profit-Structure Relationship in legally Protected Banking Market Using Efficiency Measures", Review of Industrial Organization,12(1).
[215]Fre, Rolf, Grosskopf and Shawna,1985, "Anon parametric cost approach to scale efficiency", Scandinavian Journal of Economics,43,123-126.
[216]Fukuyama, H. and Webber, W. L.,1999, "The efficiency and productivity of Japanese securities firms,1988-93", Japan and the World Economy,11,115-133.
[217]Gelos,R.G. and Roldos,J.,2002, "Consolidation and Market Structure in Emerging Market Banking Systems", IMF Working Papers, No.02/186.
[218]George Hondroyiannis, Sarantis Lolos and Evangelia Papapetrou,1999, "Assessing competitive conditions in the Greek banking system", Journal of International Financial Markets, Institution and Money,9,377-391.
[219]Gilbert, R.,1984, "Bank Market Structure and Competition:A Survey", Journal of Money, Credit and Banking, Vol.16.617-644.
[220]Gilbert, R. Alton.1984, "Studies of bank market structure and competition:a review and evaluation", Journal of Money, Credit, and Banking,16,617-645.
[221]Goldberg, Lawrence G, and Anoop Rai,1996, "The structure performance relationship for European banking", Journal of Banking & Finance, Vol.20, 745-771.
[222]Grigorian, D. A. and Manole, V.2002, "Determinants of commercial bank performance in transition:An application of data development analysis, working paper of IMF.
[223]Grossman, S. and O. Hart,1979, "A Theory of Competitive Equilibrium in Stock Market Economies", Econometrica,47.
[224]Guzman, Mark G.,2000, "Bank Structure, Capital Accumulation and Growth:A Simple Macroeconomic Model", Economic Theory,16,421-455.
[225]Hannam Timothy H.,1991, "Foundations of the structure conduct performance paradigm in banking", Journal of Money, Cred it, and Banking, Vol.23, No.1, 68-84.
[226]Hannan T.H. and Berger, A. N.,1991, "the Rigidity of Prices:Evidence from the Banking Industry", the American Economic Review, vol.81, No.4, p.938-945.
[227]Hart, O.,1979, "Monopolistic Competition in a Large Economy with Differentiated Commodities", Review of Economic Studies,46.
[228]Hellm an, T., Murduch, K. and Stiglitz, J.,1997, Financial Restraint:Toward a New Paradime in M. Aoki, H. Kim and M. Okuno Fujiwara, eds., The Role of Government in East Asian Economic Development, Clareudon Press.
[229]Ihsan Isir and M. Kabir Hassan,2003, "Efficiency,Ownership and Market Structure, Corporate Control and Governance in Turkish Banking Industry", Journal of Business Finance and Accounting,10,1363-1421.
[230]Isik, I. and Hassan, M. K.,2002, "Technical,scale and allocative efficiencies of Turkish banking industry", Journal of Banking and Finance,26,719-766.
[231]Iwata, G.,1974, "Measurement of Conjectural Variations in Oligopoly", Econometrica,42,947-966.
[232]Jackson, W.,1992a, "Is the Market Well Defined in Bank Merger and Acquisition Analysis?", Review of Economics and Statistics, Vol.74. No.2, p.373-376.
[233]Jackson, W.,1997, "Market Structure and the Speed of Adjustment:Evidence of Non- monotonicity", Review of Industrial Organization, Vol.12, No.2, p.37-57.
[234]J.A. Bikker and K. Haaf,2002, "Measures of Competition and Concentration in the Banking Industry:a Review of the Literature", Economic & Financial Modelling,9,53-98.
[235]Keeley, M.,1990, "Deposit Insurance, Risk and Market Power in Banking", American Economic Review,80,1183-1200.
[236]Lambson, Val E.,1987 "Is the concentration profit correlation partly an artifact of lumpy technology?", American Economic Review,11,731-733.
[237]Lau,L.,1982, "On Identifying the Degree of Competitiveness from Industry Price and Output Data", Economic Letters, vol.76, pp.93-99.
[238]Lawrence S. Ritter and William L.,1991,"Principles of Money, Banking, and Financial Markets", Harper Collins.
[239]Lioyd-Williams, D.M.,Molyneux,Ph. and Thornton,J.,1994,"Market structure and performance in Spanish banking,", Journal of Banking and Finance,18,433-443.
[240]Magill, M. and M. Quinzii,1996, Theory of Incomplete Markets, Cambridge MA: MIT Press.
[241]Martin, S.,1993, Advanced Industrial Economics, Blackwell, New York and Oxford.
[242]Matutes C. and X. Vives,1996, "Competition for Deposits, Fragility and Insurance", Journal of Financial Intermediations,5,184-216.
[243]Maudos Joaquin,1998, "Market Structure and Performance in Spanish Banking Using a Direct Measure of Efficiency", Applied Financial Economics, No.8, p191-200.
[244]Maudos, Joaquin, Pastor, Jose M. and Perez, Francisco,2002, "Competition and Efficency in the Spanish Banking Sector:The Importance of Specialization", Applied Financial Economics, Taylor and Francis Journals, vol.12(7),505-516.
[245]Mayer, C.,1988, "New Issues in Corporate Finance", European Economic Review,32.
[246]Mlima, Hjalmarsson,2002, "Input and Output in Banking Industry", Tanzanet Journal, vol.3(1),12-22.
[247]Molyneux, P.1997, Efficiency in European banking, Garland:New York.
[248]Molyneux,Ph. and Teppet,J.,1993, "Structure-conduct-performance in EFTA banking markets", Bank-en Financiewezen 3,133-137.
[249]Neumark D. and S.A. Sharpe,1992, "Market Structure and the Nature of Price Rigidity:Evidence from the Market for Consumer Deposits", the Quarterly Journal of Economics, vol.107, No.2, p.657-680.
[250]Neuberger Doris,1995, "Diversification, collateral and economies of scale in banking:lessons from a continuous time portfolio approach", International Review of Economics & Finance, vol.4 (3),253-265.
[251]Niels Hermes and Robertlensink,2000, "Financial System Development in Transition Economies", Journal of Banking and finance,24, p.507-524.
[252]Olivier De Bandt and E. Philip Davis,2000, "Competition, contestability and market structure in European banking sectors on the eve of EMU", Journal of Banking & Finance,24,1045-1066.
[253]Oral,M. and Yolalan,R.,1990, "An empirical study on measuring operating efficiency and profitability of bank branches", European Journal of Oerational Research, Vol.46,No.3,282-294.
[254]Panzar, J. C., Rosse, J. N.,1982, "Structure, Conduct and Comparative Statistics", Bell Laboratories Economic discussion paper, No.248.
[255]Panzar, J. C. and J. N. Rosse,1987, "Testing for 'Monopoly' Equilibrium", Journal of Industrial Economics,35,443-456.
[256]Park, Kang H. and William L. Weber,2006, Profitability of Korean banks:Test of market structure versus efficient structure, Journal of Economics and Business, Vol.8, p.222-239.
[257]Peltzman, Sam,1977, "The Gains and Losses from Industrial Concentration", Journal of Law and Economics,20,229-263.
[258]Petersen, Mitchell A. and Rajan, Raghuram G.,1995, "The Effect of Credit Market Competition on Lending Relationship", Quarterly Journal of Economics, 110,407-443.
[259]Pilloff, Steven J. and Stephen A. Rhoades.2002, "Structure and Profitability in Banking Markets", Review of Industrial Organization, Vol.20,81-98.
[260]Rajan and Zingales,1998, "Financial Dependence and Growth", American Economic Review,88,559-586.
[261]Rangan, N., R. Gawbowski, H. Y. Aly and C. Pasurka,1988, The technical efficiency of US banks, Economics Letters,28.
[262]Reid, G. C.,1987, Theories of Industrial Organization, Blackwell, New York and Oxfor d.
[263]Rhoades, S.,1982, "Welfare Loss, Redistribution Effects and Restriction of Output Due to Monopoly in Banking", Journal of Monetary Economics,9, p.375-387.
[264]Rogers, E. M.& Shoemaker, F. F.,1995, Communication of innovation:a cross cultural approach, New York:The Free Press.
[265]Roger LeRoy Miller and David D. VanHoose,1993, Modern Money and Banking, Third Edition, McGraw Hill.
[266]Ruthenberg, D.1994, "Structure- performance and Economics of Scale in Banking in a Unified Europe", Bank of Israel Banking Review, No.4, p.95-114.
[267]Saha,A. and Ravisankar, T. S.,2000, "Rating of Indian Commercial Banks:A DEA Approach", European Journal of Operational Research,124, pp.187-203.
[268]Sathye, M.,2001, "X-efficiency in Australian banking:An empirical investigation", Available online 6 February.
[269]Sathye, M.,2003, "Efficiency of Banks in a Developing Economy:The Case of India", European Journal Operational Reseach,148, pp.662-671.
[270]Schnitzer, Monikal,1998, "On the Role of Bank Competition for Corporate Finance and Corporate Control in Transition Economies Centre", Economic Policy Research Discussion Paper, No.12-13.
[271]Sealey,C.W., J.T.Lindley,1977, "Inputs, outputs and a theory of production and cost at depository financial institutions", Journal of Finance,32,1251-1266.
[272]Shaffer,S.,1985, "Competition, economies of scale, and diversity of firm sizes", Economica,17,467-476.
[273]Shepherd, William G.,1982, "Economies of scale and monopoly profits", Industrial organization, antitrust, and public policy, edit by J. V. Craven. Boston: Kluwer Nijhoff.
[274]Shepherd, W. G.,1986, "Tobin's q and the Structure-performance Relationship: Comment", the American Economic Review, vol.76, No.5, p.1205-1210.
[275]Smirlock, M., T. Gilligan and W. Marshall.1984, Tobinp's q and the Structure Performance Relationship, American Economic Review,74.
[276]Sherman,D. and Gold,F.,1985, "Bank branch operating efficiency:Evaluation with data envelopment analysis", Journal of Banking and Finance,9,297-315..
[277]Smirlock, M., T. Gilligan and W. Marshall,1986, "Tobin'q and the structure Performance Relationship:Reply", American Economic Review,74-76.
[278]Smirlock, M.,1985, "Evidence on the (Non) Relationship between Concentration and Profitability", Journal of Money, Credit, and Banking, Vol.17,69-83.
[279]Smirlock, M.,2005, "Review of Antitrust Law:Economic Theory & Common Law Evolution by Keith N. Hylton", Journal of Economic Literature.
[280]Smith R. Todd,1998, "Banking Competition and Macroeconomic Performance", Journal of Money, Credit and Banking, vol.30, No.4,793-815.
[281]Stahl,D.O.,1988, "Betrtrand competition for inputs and Walrasian outcomes", American Economic Review, vol.78, No.1,189-201.
[282]Stiglitz, J. and Weiss, A.,1981, "Credit Rationing in Market with Imperfect Information", American Economic Review,71.
[283]Timme, S. G. and Yang, W. K.,1991, On the use of a direct measure of efficiency interesting structure performance relationships, Working Paper, Georgia State University.
[284]Unite Angelo A. and Sullivan Michael J.,2003, "The Effect of Foreign Entry and Ownership Structure on the Philippine Domestic Banking Market", Journal of Banking and Finance, vol.27, No.12,2323-2345.
[285]Urban, G., Carter, T., Gaskin S. and Mucha, Z.,1984, "Market Share Rewards to Pioneering Brands", Management Science, p.32, p.645.
[286]Vennet, Rudi Vander,2002, "Cost and Profit Efficiency of Financial Conglomerate and Universal Banks in Europe", Journal of Money, Credit and Banking,34,254-282.
[287]Vesala, J.1995, "Testing for Competition in Banking:Behavioral Evidence from Finland", Bank of Finland Studies,1.
[288]Yanelle,M.O.,1988, "The strategic analysis of intermediation", European Economic Review, vol.33, No.2/3,294-301.
[289]Yue, P.,1992, "Data Envelopment Analysis and Commercial Bank Performance: A Primer with Applications to Missouri Banks", Federal Reserve Bank of St. Louis Economic Review, No.1, pp.31-45.