关于产权、市场与我国银行业市场绩效关系的分析

On the Relations among Ownership, Market and the Market Performance of China's Banking Industry

通过实证分析1996-2002年间银行生产效率和市场结构变化对我国商业银行业市场绩效的效应,发现资产份额和资本份额的变化都对我国银行业市场绩效有正的效应;尽管国有银行生产效率提高对我国银行业市场绩效有正的效应,但国有银行生产效率提高的主要原因是政府的救助。基于实证分析,本文关于产权、市场与银行业绩效关系的讨论表明:银行业市场结构的渐进式变化诱致国有银行的产权改革且约束股权分散程度,国有银行的产权改革又促进银行业市场竞争,交互关系不断深化两种结构的调整,将使银行业的市场绩效得到提高。

This paper empirically studies the effect on the market performance of China's commercial banks by both banks' productivity change and the market structure change of China's banking industry from 1996 to 2002. It is found that both assets share changes and capital share changes all have positive effect on the market performance. Though the productivity improvement of the state-owned banks also have positive effect on the market performance, the bailouts of central government cause the productivity change of the state-owned banks. Further analysis with respect to relations among ownership, market and the market Performance indicates that gradual market structure change induces the ownership structure change of the state-owned banks, meanwhile restrains the decentralization degree of these banks ' ownership; the ownership structure change of the state-owned banks in turn reacts on market structure; their mutual effect on each other will continuously deepen two sorts of structure change, resulted in improving the market performance of the whole banking industry.