中国商业银行公司治理机制研究

【作者】 韩非；

【导师】 胡怀邦；

【作者基本信息】 西北大学 ， 政治经济学， 2011， 博士

【摘要】 公司治理是学术界和企业共同关心的重要课题,也是当今经济学和管理学中最具有吸引力的前沿领域之一。金融是现代经济的核心,商业银行又是我国金融体系的主体,商业银行治理机制能否不断完善和优化对于整个国民经济的健康稳健运行至关重要。同时,商业银行也是一个具有复杂风险体系的行业,这就决定了商业银行治理机制具有一定的特殊性。而且,商业银行治理机制的重要性和特殊性也由于我国转轨时期的基本特征而得到进一步加强。商业银行治理机制问题,无论是在理论上还是在实践中,都亟待进一步破题并取得突破性进展。国外关于商业银行治理机制的研究,主要集中在商业银行与一般公司相比较所体现出来的特殊性上,并以此为基准来建立适合于商业银行公司治理的基本架构。国内关于商业银行公司治理的研究尚处于起步阶段,多集中于对国外实践的总结,对我国经济转轨时期商业银行公司治理结构的特殊性进行的针对性研究还不足,而且相关研究的系统性和理论深度也有待提高,对实践也缺乏系统的导向作用。我国商业银行公司治理体系实际运行效果并不尽如人意,真正商业银行治理机制的建立从形似到神似还有很长的路要走,特别是在公司治理机制上迫切需要从前期的技术模仿转向核心制度的创新。本文尝试对我国商业银行公司治理方面所面临的艰巨的制度创新问题寻求答案。本文以商业银行公司治理核心制度创新为主线,对我国商业银行治理机制变迁过程进行了系统考察,对转轨时期商业银行公司治理情况进行梳理,对制度变迁中的重要因素进行分析,通过研究商业银行的改革路径,借鉴国内外商业银行公司治理的理论成果与实践经验,提出我国商业银行治理机制中存在的主要问题和优化建议。对我国商业银行治理机制进行研究,作者在借鉴前人和他人已有研究成果的基础上做出了自己的回答,其中主要和有所创新的分析结论和观点如下：第一,公司治理具有鲜明的时代和地域特色,但其理论演进和企业具体实践都呈现出一些一般性的趋势。第二,我国商业银行内部治理的复杂性和外部治理的局限性是商业银行治理机制建设需要应对的重点和难点。第三,商业银行风险管理是商业银行治理机制与经营管理的核心交汇点。从治理机制的角度来看,商业银行全面风险管理的关键,就是在商业银行治理机制中科学划分风险管理层次。第四,随着公司治理理论的不断发展,特别是本次金融危机后对危机原因的深刻反思,监管部门普遍认识到商业银行内部治理的复杂性和外部治理的局限性造成商业银行自身在抵御风险中的脆弱性,中国银监会也更加关注商业银行跨业经营、资本充足、流动性覆盖和信贷过度增长等方面的问题。第五,从历史变迁的角度审视股份制商业银行的制度变迁轨迹,以股份制商业银行治理机制建设为基准,本文创新式的将股份制商业银行制度变迁划分为四个时期,每个时期商业银行在公司治理机制的建设上各有侧重。第六,从制度经济学的角度分析,以股份制商业银行为代表的商业银行治理机制的发展过程,主要体现出四个方面的特征。第七,资本是商业银行治理机制完善的基础,以市场化手段为基础的资本运作是公司治理机制外部约束优化的重要途径。第八,专业智慧对商业银行治理机制的提升也非常重要,其作用主要体现为人力资本在制度变迁中的作用。第九,商业银行外部治理机制包括行业监管、政府管制、利益相关者的保护与监督、产品市场、经理人市场、控制权市场等。第十,商业银行内部治理机制关系着商业银行基本运营机制的有效和健康。第十一,在商业银行治理机制与绩效的关系问题上,本文通过实证分析,指出第一大股东持股比例对银行绩效有显著的正向作用,但过度集中的股权结构不利于银行绩效的提高,独立董事数量对银行绩效有显著的正向作用,商业银行应按照这一方向进一步完善治理机制。第十二,完善的公司治理机制是商业银行提升核心竞争能力的重要保证,进一步优化我国商业银行的公司治理机制势在必行,实现这一目标的路径选择应该坚持五项原则。更多还原

【Abstract】 Corporate Governance is an important topic for both the academics and enterprises, as well as one of the most attractive pioneer spheres in contemporary economics and management. Finance is the core of modern economy, and commercial banking is the main body of’China’s financial system. Therefore, whether the mechanism of the corporate governance of commercial banking can undergo continual improvement and perfection is the utmost important to the healthy and stable operation of the national economy. Meanwhile, commercial banking is an industry with complex risk system, which determines the specialty of the mechanism of the governance of commercial banking. And, the importance and specialty of the mechanism of governance of commercial banking has been strengthened as shown by the basic characteristics of the transformation of China. The issue of the mechanism of governance of commercial banking, whether theoretically or practically, requires a breakthrough development.The research on the mechanism of commercial banking governance of the overseas mainly focus on the specialty shown by making a comparison between commercial banks and ordinary companies, and using this as the basis for forming a basic framework of corporate governance suitable for commercial banking. The current Chinese research on corporate governance of commercial banks is still in an initial stage, for it is mostly a summary of corporate governance of commercial banks outside of China. The research on the specialty of the commercial banking corporate governance during the economic transformation of China remains inadequate, which calls for a further systematic and in-depth study and fails to provide the industry a systematic direction. The effect of the execution of commercial banking corporate governance mechanism of our country is not satisfactory. There is a long way to go for the establishment of a real commercial banking governance mechanism from superficial copy to essence acquisition, especially when there is an urgent need for changing from the technical imitation in the initial stage to the innovation of the core system in the field of corporate governance mechanism. This article tries to search for the answers for the enormous difficulties encountered in the system innovative issues of the commercial banking corporate governance.This article adopts the innovation on the core system of commercial banking corporate governance as the main line, examines the transformation process of commercial banking governance mechanism, reviews the commercial banking corporate governance during the transformation period, analyzes on the important factors of the mechanism transformation process. Through studying the reformation path of commercial banks, referring to commercial banking corporate governance theories and practical experience of both domestic and overseas banks, this article raises out the main problems existing in the governance mechanism of commercial banking in our country and offers suggestions for perfection.Conducting research on the governance mechanism of China’s commercial banking, the author, with reference to the research results of the precedents, offers his own answer, among which the main and innovative analyses and viewpoints are as follows:First, Corporate governance comprises of apparent characteristics of the generation and district, but the theoretical transformation and practical execution in enterprises shows a general trend. Second, the complexity of the internal governance of the commercial banks of China and the limitation of governance outside is the main focus point and difficult point encountered in the establishment of the governance mechanism of the commercial banks. Third, Risk management of commercial banks is the core joint of the commercial banking governance mechanism and operation management. From the perspective of governance mechanism, the key for the overall risk management lies on the scientific segregation of the risk management levels for commercial banking governance mechanism. Fourth, for the continual development of the corporate governance theories, especially after the deep retrospection on the reasons for the financial tsunami, regulatory bureaus generally realize that the complexity of the internal governance of the commercial banks and the limitation of the governance outside makes commercial banks fragile in confronting risk. China Banking Regulatory Commission is more concern about the issues on the cross-industries businesses of commercial banks, capital adequacy ratio, liquidity coverage and the over drastic growth of credits. Fifth, studying the reformation path of the joint-stock commercial banks system from the historical transformation perspective, based on the formation of the governance mechanism of the joint-stock commercial banks, this article innovatively divides the reformation of the joint-stock commercial banking system into four stages, with different emphasis on the corporate governance mechanism formation for commercial banks in each stage. Sixth, from the perspective of economics, from the development process of the corporate governance mechanism of the joint stock commercial banks, four characteristics are mainly illustrated. Seventh, Capital is the foundation for the perfection for commercial banking governance mechanism, running capital by making use of marketing tools is an important way for perfecting the outside limitation of corporate governance mechanism. Eighth, Expertise wisdom is also important to the elevation of commercial banking governance mechanism, whose function is mainly shown in the transformation of the human resources systems. Ninth, governance mechanisms outside commercial banks include industry monitor, government regulatory, protection and monitor of the stakeholders, product market, managers market, controlling power markets and etc. Tenth, the internal governance mechanism of commercial bank affects the effectiveness and healthiness of the fundamental operation mechanism of the commercial banks. Eleventh, in respect of the problem of the relationship between commercial banking governance mechanism and performance, through real case analysis, this article shows that the proportion of the stock held by the biggest shareholder performs an obvious positive function to the banks’ performance, but over-concentration of the stock is not good for the improvement of the banks’performance, the number of the independent director also performs a positive function to the banks’performance. Commercial banks should work towards this direction to perfect their governance mechanism. Twelfth, the perfected corporate governance mechanism is an important guarantee for commercial banks improving their core competitive ability; further perfecting China’s commercial banking corporate governance mechanism is as an arrow on the straining cord. To realize this target path we must choose and insist on five principles.更多还原