村镇银行股权集中度与经营绩效的关系研究

Research on the Relationship between Ownership Concentration and Business Performance of Rural Banks

利用全国范围内60家村镇银行2014—2018年的数据,通过因子分析法构建综合绩效指标,并在此基础上研究股权集中度与经营绩效的关系。研究结果表明村镇银行第一大股东持股比例、股权制衡度均与经营绩效存在倒U型关系,意味着存在最优股权集中度使村镇银行绩效最大化。因此,主发起行应适度调整持股比例,政府应引导村镇银行进行股权结构调整,鼓励村镇银行引入民间资本实现股权之间的有效制衡。

Based on the data of 60 rural banks nationwide from 2014 to 2018,this paper constructs comprehensive performance indicators through factor analysis to study the relationship between ownership concentration and business performance.The research results show that there is an inverted U-shaped relationship between both the shareholding ratio and the degree of equity balance of the largest shareholder and the business performance.This means that there is an optimal degree of ownership concentration to maximize the performance of rural banks.Therefore,the main initiated bank should moderately adjust the shareholding ratio,the government should guide rural banks to adjust the equity structure,and encourage rural banks to introduce private capital to achieve effective balance between equity.