不良贷款约束下中国上市商业银行全要素生产率研究：基于Luenberger指数的分析

Study of Total Factor Productivity of China's Listed Commercial Banks Under the Constraint of Non-performing Loans:based onLuenberger Productivity Indices

借助Luenberger指数法,本文测度了中国16家上市商业银行2005-2011年间考虑不良贷款约束的全要素生产率。研究表明,不考虑坏产出约束时的全要素生产率存在高估问题。与以往结论不同,我们发现中国上市商业银行的年平均全要素生产率退步了3.00%,7年间累积退步18.01%。从分类角度看,国有银行对不良贷款管理效率较差,但应对冲击能力强;股份制银行机制灵活,能有效控制不良贷款的扩张;城市商业银行具有区域优势,可对贷款进行更为有效的管理。本研究对中国银行业监管与改革具有参考意义。

This paper investigates the Total Factor Productivity of 16 Listed Commercial Banks in China during 2005 - 2011 under the restrictions of non - performing loans using Luenberger Productivity Indices. The results show that omitting the restrictions of non -performing loans will get a upward bias on TFP estimator. Different from pervious researches, we find that China＇ s Listed Commercial Banks＇ Total Factor Productivity decreased by 3% annually and has an 18.01% regression during the sample period. From classification perspective, the SOBs have a poor efficiency on non - performing loan management, but the ability to cope with the impact is strong; joint - stock commercial banks can effectively control the expansion of non - performing loans; city commercial banks have regional advantages, the loan can be more effectively administrated. Our research has a reference value on Chinese bank industry supervision and banking reform.