境外战略投资者与中资银行创新能力——基于中国73家商业银行面板数据的实证分析

Foreign Strategic Investors and the Innovative Capacity of Domestic Banks:Empirical Evidence from 73 Commercial Banks

金融创新是中资银行提高盈利水平、增强国际竞争力的重要途径。本文利用中国银行业2002年至2008年的面板数据,选取中间业务收入作为银行创新能力的度量指标,实证检验了战略引资这种"以开放促改革"的模式对中资银行创新能力的影响。研究结果表明,引进境外战略投资者在短期内显著提高了中资银行的创新能力。本文进一步分析了战略引资影响中资银行创新能力的渠道和作用机制。

Financial innovation is an important way for domestic banks to improve their profitability, sharpen their competitive edge and enhance their international competitiveness. Using a panel data of 73 domestic banks from the year 2002 to 2008, and setting Net Fee and Commission Income as the measurement of innovative capacity, this paper investigates the impact of foreign strategic investors ＇ participation on the innovative capacity of these domestic banks by the ＂opening-up to reform＂ model. The empirical results indicate that introducing foreign strategic investors significantly improves the innovative capacity of domestic banks. We further analyze the channel and mechanism of how strategic investment takes effect on the innovative capacity of domestic banks.