中小商业银行公司治理机制与经营绩效关系的实证分析

理论和实证研究证明,良好的公司治理对金融体系稳健运行有十分重要的作用.商业银行公司治理的研究和实践既是银行业改革的迫切要求,也是银行业改革的核心内容之一.本文用36家商业银行2005年的截面数据,对股权结构、董事会、监事会和高管人员薪酬激励等四个治理机制与银行绩效之间的关系进行了实证研究.结果表明,国有与非国有控股商业银行绩效不存在显著差异,第一大股东对银行绩效的影响并不显著,但外部大股东能显著地提高银行绩效.董事会与监事会规模与银行绩效正相关,但独立性难以得到保证.此外,高管人员薪酬激励不能改善银行绩效.

An Empirical Analysis on Relationship of Small and Medium Banks Governance Mechanismand and Performance

Large quantity of theoretical and empirical studies have proved that good corporate governance has a very important effect on the stable operation of all the financial system.The theoretical research and practice of the corporate governance of commercial banks is not only the urgent needs of reform of banking industry but also one of the core elements of the reform of commercial banks.By exploring the cross-sectional data of thirty-six commercial banks of our country in 2005,this paper empirically researches into the relationship between the commercial bank performance and four corporate governance mechanisms including ownership structure,board of directors,the board of supervisors and the incentive com-pensation of senior management.The last econometrical results ex-plicitly indicate that there are no significant difference between the performance of state-owned commercial banks and the performance of non state-owned commercial banks.Besides this,the percent-age of the largest shareholder does not have a significant effect on bank performance,but the percentage of large outside shareholders can improve bank performance significantly.The scale of board of directors and the board of supervisors also have a positive influ-ence on bank performance,although the independence of boards of directors and supervisors is hard to guarantee.In addition,the incentive compensation of senior management can not significantly improve bank performance.