| Does Property Rights Reform Improve the Efficiency of China＇s State-owned Banks？ |
| |
| 作者姓名： | Qian Wang Xiaochu Feng |
| |
| 作者单位： | [1]Professor, China＇s Public Sector Economy Research Center and School of Economics, Jilin University, Jilin, China. [2]Department of Finance, Jilin University, Jilin, China. |
| |
| 基金项目： | Part of this research was completed while Qian Wang was visiting Department of Economics, Harvard University. She thanks the institution for its hospitality and support. The authors are grateful to Richard Cooper, Bin He and the anonymous reviewers for offering very constructive suggestions that improved the paper. Qian Wang acknowledges the Fulbright program and ＂985＂ project for financial support. |
| |
| 摘 要： | China ＂s state-owned banks have undergone radical changes over the past two decades, including partial privatization and listing in both the Hong Kong Stock Exchange and the Shanghai Stock Exchange. This paper evaluates the effects of these changes by analyzing the efficiency of Chinese banks over the period 1998-2012 using two frontier techniques and comparative analysis. The findings suggest that the performance and technical efficiency of the Big Four banks improved considerably after property rights reform, but this improvement is not sufficient to keep the banks at the production frontier. Tobit regressions confirm that static ownership effects are negative but that the property rights reform has had significant and positive effects on the technical efficiency of state-owned commercial banks. GDP growth and the financial crisis have had positive effects on the efficiency of Chinese banks, which is more significant for joint stock commercial banks than state-owned commercial banks. The results indicate the value of ownership reforms of state-owned asset management companies and insurance companies and the establishment of a countercyclical capital buffer.
|
| 关 键 词： | banking efficiency China property rights reform state-owned bank |
Does Property Rights Reform Improve the Efficiency of China＇s State-owned Banks？ |
| |
| Qian Wang,Xiaochu Feng.Does Property Rights Reform Improve the Efficiency of China＇s State-owned Banks？[J].China & World Economy,2014,22(4):1-20. |
| |
| Authors: | 《China ＆ World Economy》 |
| |
| Institution: | 1. Professor, China's Public Sector Economy Research Center and School of Economics, Jilin University, , Jilin, China;2. Department of Finance, Jilin University, , Jilin, China |
| |
| Abstract: | China's state‐owned banks have undergone radical changes over the past two decades, including partial privatization and listing in both the Hong Kong Stock Exchange and the Shanghai Stock Exchange. This paper evaluates the effects of these changes by analyzing the efficiency of Chinese banks over the period 1998–2012 using two frontier techniques and comparative analysis. The findings suggest that the performance and technical efficiency of the Big Four banks improved considerably after property rights reform, but this improvement is not sufficient to keep the banks at the production frontier. Tobit regressions confirm that static ownership effects are negative but that the property rights reform has had significant and positive effects on the technical efficiency of state‐owned commercial banks. GDP growth and the financial crisis have had positive effects on the efficiency of Chinese banks, which is more significant for joint stock commercial banks than state‐owned commercial banks. The results indicate the value of ownership reforms of state‐owned asset management companies and insurance companies and the establishment of a countercyclical capital buffer. |
| |
| Keywords: | banking efficiency China property rights reform state‐owned bank G21 G32 G38 N15 |
| 本文献已被 维普 等数据库收录！ |
|
