地方银行稳定发展:国有控股还是股权制衡——基于城商行的实证研究

Maintain the Stable Development of Local Urban Commercial Banks:State Control or Equity Check and Balance—An Empirical Study Based on Urban Commercial Banks

国有控制和民营化对我国地方银行稳定发展的影响一直面临着较大争议。本文基于我国128家城商行的数据研究发现,国有资本控股能够降低城商行信贷风险,而混合所有制改革程度目前对国有大股东控制的城商行信贷风险影响不大;股权制衡程度与城商行信贷风险显著负相关,特别是相较于国有控股城商行,其对缓解民营控股城商行的信贷风险更为重要,且股权制衡程度与民营控股城商行不良贷款率之间存在先抑制后提升的“U”型关系。这意味着,为了使城商行这类地方银行稳定发展,国有控股机制与股权制衡机制二者至少择其一。

The influence of state-owned control and privatization on the stable development of local banks in China has been facing great controversy.Based on the data of 128 urban commercial banks in China,the study found that local government can reduce the credit risk of urban commercial banks,while mixed ownership has no effect on the control of major state-owned shareholders.The degree of equity check and balance is also significantly negatively correlated with the credit risk of urban commercial banks.Compared with state-owned holding urban commercial banks,equity check and balance is more conducive to alleviate the credit risk of privately held urban commercial banks,and there is a"U-shaped"relationship between equity balance and the non-performing loan ratio of privately held urban commercial banks.This means that in order to make the stable development of city commercial banks,either state control or equity balance is necessary.