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The International Comparison on Governance Structure of Listed Commercial Banks

Author: TangHongXia
Tutor: PangDeLiang
School: Jilin University
Course: World economy
Keywords: Commercial bank Capital markets Governance structure Board of directors Executive pay
CLC: F832.33
Type: Master's thesis
Year: 2011
Downloads: 187
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Abstract

From a global point of view, how to optimize the corporate governance structure to promote improvement in consolidated operating performance of listed commercial banks, has become a hot issue in the current and future research, the Asian financial crisis of the 1990s, as well as the global subprime mortgage crisis broke out in 2007 directed at commercial banks that are inherent in corporate governance issues. Since the reform and opening up, China's economy is relatively closed, and the Government on the implementation of large-scale economic intervention and protection, dominated by the four state-owned commercial banks, the banking system there is a single ownership structure, the high proportion of non-performing loans, corporate governance structure. reasonable, and the absence of owners, poor operational efficiency and risk prevention capacity and weak, in other words, the lower the competitiveness of China's banking sector. After accession to the WTO, China's economy and the world is fully aligned with internationally renowned, and the strength of the large commercial banks are gradually strategic penetration into the domestic financial market. However, compared to the competitiveness of China's commercial banks to foreign banks is still relatively low, so that China's banking system is not fully open to the public, which provides for China's commercial banks a valuable adaptation and adjustment. In competition with foreign banks, China's business community, academia and so come to realize that effective, reasonable corporate governance structure is fundamental to improve the competitiveness of banks, and also the development of the banking industry and even the national economy running smoothly key. China has also introduced a series of highly targeted reform measures: Since 2005, non-performing loans by stripping the introduction of strategic investors, capital market tradable share reforms and other measures to accelerate the process of restructuring of listed commercial banks in China, as of the end of 2008, China's A-share and H-share listed qualifications, a total of 14 commercial banks were the 2010 A-share listed Agricultural Bank of China, China Everbright Bank, China's listed commercial banks has reached 16. While China's listed commercial banks have established a modern enterprise system, but it is undeniable that China's commercial banks is a product of the planned economy, with a strong state-owned property in the process of transition from a planned economy to a market economy, the commercial banks The reform of the governance structure is bound to encounter many institutional obstacles. Therefore, it is necessary to learn from the advanced experience of developed countries, to continue to improve in the ownership structure of the set, the choice of the nature of shareholders, board size and independence, and incentive pay system effectiveness, comprehensive two-pronged approach to internal governance and external governance reform. The Business Bank governance is not a theory of corporate governance in commercial banks in general, but the theory of corporate governance and commercial banks as financial intermediaries particularity unified. Special governance of listed commercial banks from the bank with its own unique place in the industry characteristics, financial covenants, financial products, as well as the external environment, plus interests in banking activities more, resulting in a more complex, more serious conflicts of interest. The core objectives of the governance of listed commercial banks is necessary to ensure that the interests of shareholders, creditors, but also constraints and restrictions that harm minority shareholders, depositors and guarantee agencies interests largest shareholder behavior, by reasonable institutional arrangements to ensure the sound operation of commercial banks and effective risk control. Therefore, on the basis of commercial bank governance reforms Model, mainly from the nature of the ownership structure and shareholder, board size and structure of executive compensation paper establishes the analytical framework, profitability and risk prevention capacity, by selecting representative countermeasures and suggestions of sex indicator variables, empirical test of the relationship between governance variables with banks performance, to in-depth study of the governance structure of the commercial banks and the special mechanism for China's actual conditions to optimize the governance structure of commercial banks. The paper is divided into five chapters, specifically: Chapter 1 Introduction, each of the topics of the purpose and significance of the research ideas of the paper, the structure and content of the research methodology, innovation and shortcomings clear after further analysis for bedding. Chapter 2 listed commercial bank governance structure theory, first clearly defined and thesis topics of related concepts and categories, and then the general theory of the analysis and interpretation of corporate governance, including the principal - agent theory, stakeholder theory, corporate finance contract theory, on this basis, the corporate governance theory is applied to the governance of commercial banks, the analysis of the special nature of the governance structure of commercial banks. Chapter 3 US-Japan listed on the comparison of the governance structure of commercial banks, the main analysis mainly to the external market governance structure of the United States, and Japan's main internal board governance structure, by the nature of the shareholding structure of commercial banks with shareholders, the Board of Directors size and independence, remuneration incentive efficiency investigation to identify the differences and similarities between the two, which sum up and refining useful conclusions on China. Empirical Analysis of China's listed commercial bank governance structure and consolidated operating performance in Chapter 4, this chapter analyzes the governance structure characteristic of Chinese listed commercial banks, the first to make a series of assumptions, on this basis, by selecting the Shanghai Pudong Development Bank, China Merchants Bank, Huaxia Bank, Shenzhen Development Bank, China Minsheng Bank five joint-stock commercial bank as the research object, select its 2002-2009 financial indicators as economic variables, including weighted return on net assets, non-performing loan ratio, the proportion of ten shareholders the proportion of state-owned shares, the proportion of corporate shares, the proportion of the outstanding shares, the size of the board, the proportion of outside directors, the top three executives pay the sum so on, through the establishment of a panel data model (Panel Data) to examine the governance structure of China's banking profitability and risk control ability impact, and empirical conclusions specific analysis. Chapter 5 draws on the experience of the United States and Japan put forward some suggestions for the reform of the governance structure of China's commercial banks.

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CLC: > Economic > Fiscal, monetary > Finance, banking > China's financial,banking > Financial organizations, banks > Commercial banks ( specialized banks )
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