我国商业银行效率结构研究

Influence of Macro Factors,Property Rights Institution and Market Structure over the Efficiency Structure of Chinese Commercial Banks

本文采用随机前沿法(SFA)测算了1990—2003年我国商业银行的X-利润效率、规模效率、范围效率及其动态变化,然后分析了宏观因素、产权制度与市场结构对效率水平的影响程度和影响机制。实证检验发现,GDP增长率、固定资产投资增长率和货币供应量(M2)的增长率对X-利润效率水平产生正影响;CPI和以全部国有及规模以上非国有工业企业的销售利润率衡量的企业整体效益状况对X-利润效率水平产生了负影响;所有宏观变量中,固定资产投资增长率的影响最大。在面临相同的宏观经济环境下,国有商业银行和股份制商业银行的X-利润效率水平存在结构性差别,且依次递增;两类商业银行均存在一定程度的规模效率,国有商业银行在大多数年份里的规模效率好于股份制银行,从时间趋势来说,两类商业银行由于规模的扩大,规模经济效应正在逐步减弱且差距也在逐步缩小;国有银行几乎不存在范围效率,股份制银行存在一定程度的范围效率,但从时间趋势来看,范围效率逐步减弱。产权制度是造成这种差异的关键原因,市场竞争程度对商业银行效率也产生了非常重要的影响;且两者对商业银行效率的影响是一种互补关系而不是替代关系。最后提出了相应的对策和建议。

Based on the SFA, this paper estimates and calculates X-profit efficiency, scale economy, scope economy and their dynamic changes for the commercial banks in China from 1990 to 2003 and, analyzes how and to which degree the macro factors, property rights institution and market structure affect their efficiency. The results of the empirical study show that both the growth rate of GDP and that of fixed assets investment and that of money supply （M2） have positive effects on the X-profit efficiency of banks, while CPI and the efficiency situation viewed from the returns of all self-held capital of the state-owned and non-state-owned industrial enterprises above designed size as a whole have negative effects on the X-profit efficiency. Among all macro variables, the most important one seems to be the growth rate of the fixed assets investment. Against the same macro-economic background, the X-profit efficiency for the state-owned banks and that for the joint-stock ones have structural differences, on an ascending basis. Although both of them have the increasing scale efficiency, the scale efficiency for the state-owned ones is higher than that for the joint-stock ones in most of the years. In view of evolution, as the scale of these two types of banks improves, their scale efficiency is weakened and the difference between them is being converged gradually. Scope efficiency seems not to exist in the state-owned banks, but in the joint-stock ones, it does exist to a certain extent. With time, the scope efficiency is decreasing step by step. The key factor causing those differences seems to be the property rights institution, but market competition also plays an important role on the efficiency of commercial banks, both of which affect this efficiency complementarily instead of substitutionarily. At the end of the paper, some constructive countermeasures and suggestions to solve the problem are figured out.