中国银行业前沿效率及其影响因素研究——基于随机前沿的距离函数模型

自20世纪90年代末以来,中国银行业经历了重大变革,为了分析银行业改革的影响,本文根据中国银行业1999～2008年的数据(共计1291个样本)以及产出定位的距离函数,从多个角度(盈利能力和业务扩张能力),采用随机前沿方法对中国不同类型银行的技术效率及其影响因素进行了研究,研究发现:(1)金融体制变革对中国银行业技术效率的提高起着重要的促进作用,尤其是2004年以前,国内各类银行(四大国有商业银行和城商行尤其明显)的技术效率呈明显上升趋势(盈利方面更加明显)。此外,对四大国有商业银行来讲,制度变革的影响在2006年以后又有明显的体现(盈利方面更加明显)。(2)从技术效率来看,股份制银行在盈利方面和业务扩张方面的效率在所有类型银行中都最高。四大国有商业银行在业务扩展方面优于城商行,但在盈利方面两者效率相差不大。(3)从技术效率的影响因素看,中国银行业在业务扩张的同时忽略了收益回报,以至出现业务扩张方面的高效率和盈利方面的低效率并存的情况。此外,引进外资股权或上市既体现出选择效应(发生变化的银行本身效率就较高),治理结构变化后又体现出改善效应。

Based on the data of banking industry of China from 1999 to 2008, this paper investigates the Chinese banks＇ technical efficiency and its impact factors by employing an output-oriented stochastic distance function. The authors find that： （ 1 ） financial system reform has played a significant role in improving the Chinese banks＇ technical efficiency. Especially prior to 2004, all banks＇ technical efficiency has been improved greatly. In ad- dition, financial system reform has significant influences over the performance of big-four stated-owned commercial banks after 2006. （2） in terms of technical efficiency, joint-equity commercial banks performed best both in earning profit and developing businesses. While big-four stated-owned commercial banks performed beuer than city commercial banks in developing businesses, but show little difference in earning profit. （3） The Chinese banks often aggressively expand their business but poorly in earning profit. Furthermore, introducing of foreign acquisition or listing will have selection effects and improvement effect after changes in governance structure.