董事会治理对银行稳健性的影响

Research on Impact of Board Governance for Soundness of Banking System in China

董事会作为银行治理的重要组成部分,其有效运行与否直接影响着银行的效率和风险状况。本文首先依据IMF编制的金融稳健指标体系和中国人民银行提出的宏观审慎监管指标,构建了中国银行稳健性指标体系的核心指标组;然后将反映董事会特征的多个变量合成了董事会组织结构和董事会运作效率两个变量,对董事会治理效率采取了一种新的方式进行刻画;并以M2/GDP、信贷增长率作为控制变量构建了PVAR模型进行中国银行董事会治理对银行稳健性的影响及冲击研究。结果显示,董事会组织结构和运作效率对银行稳健性的影响均是显著的。通过脉冲响应分析和方差分解发现,银行董事会组织结构会对银行稳健性在第一期产生较小的正向促进作用,但影响不具有长期性;银行董事会运作效率的变动对银行稳健性当期和未来产生正向促进作用,相对而言,影响具有长期性。

Board as an important part of bank governance, its effective operation whether or not has a direct impact on the efficiency and risk. Based on financial soundness indicators system prepared by IMF and macro - prudential indicators proposed by the People＇s Bank of China, this paper constructs synthesis banking stability index BSI. Then synthesize sever- al variables that reflect the characteristics of the Board to two variables：the organizational structure of the Board and the operational efficiency of the Board, and take a new way to portray the governance efficiency of the Board ; and take M2/ GDP, credit growth rate as control variables to build PVAR model and estimate it. The results show that the organizational structure and operational efficiency of the Board have a significant impact on the stability of the banks. At the same time, by impulse response analysis and variance decomposition, we found that the organizational structure of the Board has a smaller positive role in promoting the soundness of the banks in the first phase, but the effect does not have long - term ; op- erational efficiency changes of the Board will produce a positive role in promoting the soundness of the banks in the first phase ,the effect is relatively long- term.