外资参股对中资商业银行经营绩效、风险承担的影响

Influence of Foreign Equity Participation on Operation Performance and Risk Taking of Chinese Commercial Banks

近年来,随着中国金融业开放进程的不断加快,越来越多大型境外战略投资者愿意并希望入股我国商业银行,但2020年新冠疫情的爆发是否会给外资参股的中资商业银行带来不利影响尚未可知。本文以2015年至2020年中国40家上市商业银行的面板数据为样本,首先运用主成分分析法测算了综合考虑银行盈利性、安全性、流通性与成长性的银行综合绩效指数,并在此基础上分疫情发生前、疫情发生后、五年全样本,对比研究了全样本和疫情发生前后中国商业银行引入外资、增加外资持股比例各自对于银行盈利能力、风险承担以及综合绩效的影响。研究结果表明:提高外资持股比例能显著提高银行盈利能力、改善银行风险承担状况、提高银行综合绩效;引入外资在非疫情发生的稳定区段能够显著提升商业银行的盈利能力;与无疫情发生的平稳发展阶段相比,疫情发生后增加外资持股比例对银行综合绩效的提升作用更强,对盈利能力的影响大致相同,改善风险作用则有所减弱。基于此研究结果,本文还分别对政府、行业自律组织及商业银行自身提出了一系列的针对性建议。

In recent years, with the accelerating opening process of China’s financial industry, more and more large foreign strategic investors have been willing to become shareholders of Chinese commercial banks. However, it has not been known whether the COVID-19 outbreak in 2020 will bring adverse effects to Chinese commercial banks with foreign equity participation. By applying panel data of 40 listed Chinese commercial banks from 2015 to 2020 as a sample, we calculated the comprehensive performance index of banks considering their profitability, safety, liquidity and growth by using principal component analysis. And on this basis, we divided the samples into pre-epidemic samples, post-epidemic samples, and the full five-year sample and comparatively studied the influence of in-troducing foreign investments and increasing foreign shareholding ratio on profitability, risk-taking and comprehensive performance of Chinese commercial banks. The results have shown that in-creasing the foreign shareholding ratio could significantly improve the profitability of banks, im-prove the risk-taking status of banks, and improve the overall performance of banks. Besides, the introduction of foreign capital in the stable region of non-epidemic can significantly improve the profitability of commercial banks. What’s more, compared with the stable development stage without the outbreak of the epidemic, increasing the foreign shareholding ratio after the outbreak of the epidemic had a stronger effect on the comprehensive performance of banks, and the effect on profitability was roughly the same, while the effect on improving risk was weakened. Based on the research results, we also put forward a series of targeted suggestions to the government, industry self-discipline organizations and commercial banks themselves.