【作者】 李军；

【导师】 朱南；

【作者基本信息】 西南财经大学 ， 企业管理， 2012， 博士

【摘要】 2006年-2010年,为迎接银行业市场全面向外资银行开放,我国银行业市场发生了重要的变化,银行系统围绕着从公司治理、发展战略、经营理念、激励约束机制多个层面寻求突破。“战略转型”被众多商业银行提出,作为的战略目标。特别是,金融危机后新巴塞尔协议和中国银监会推出的《商业银行资本管理办法(试行)》提高了商业银行的风险资本要求,国内商业银行战略转型的呼声更高,转变增长方式、降低资本占用较高的业务、发展资本集约型业务,已成为中国银行业当前的共识。我国商业银行刚刚建立现代银行体系不久,战略管理滞后,银行同质化竞争、产品服务差异化不足、中小股份制商业银行战略定位迷茫、城商行不知未来何去何从,种种问题几乎是国内银行业给公众广泛的直观印象,也多是公开的热点问题。本文关注的是,继我国商业银行业改制、引入战略投资者和战略转型等一系列重要举措过后,我国银行的发展战略是同质还是异质?采用哪一种战略的银行做得好?战略的选择能够预测一定的效率水平吗?换言之,我国银行业内部是否存在若干奉行不同的战略的战略群?银行是否仍然存在战略同质化、产品和服务同质化的问题?商业银行除了国有、股份制、区域性银行这样的标签,是否就没有其他差别呢?为了解开这些疑问,论文以战略群理论为依据,分析我国银行业市场的结构,并尝试检验商业银行战略类型与银行效率之间的关系,以及商业银行战略改变或者战略转型将会对银行效率产生的影响。论文含绪论共分为八章,每章的主要内容是：第一章：绪论,主要内容是介绍论文的选题意义以及相关研究的现状,通过研究背景的介绍说明研究商业银行战略群以及检验战略群与效率之间关系的意义。绪论同时说明了论文研究的基本逻辑思路,即将规范分析和实证分析相结合,首先依据理论提出研究假设和研究框架,然后一步步通过实证分析证明待检验命题是否成立或成立的条件。绪论部分的结束部分汇报论文的不足与创新之处。第二章：理论基础,主要内容是梳理论文研究依据的基础理论,通过概念的演绎和比较,界定论文最终引用或依据的具体理论。首先,通过战略理论发展的回顾,本文将战略理解为一个企业或组织为了达成组织愿景而作出的关于整个组织的经营结构、资源配置结构、产品或服务结构和目标市场结构的长期规划,即综合了Gerry Johnson和Kevan Scholes的公司层战略和企业层战略的内容,包括企业融资、资源配置、客户结构、产品结构等方面。其次,通过战略群理论的梳理,本文确定了将基于产业经济视角理解战略群,而不是从企业认知视角界定和解释战略群,尽管后者也存在合理性。同时,关于战略群分析技术的比较,本文将选取多个关键战略变量采用多元统计分析划分我国商业银行战略群,具体的分析过程将会运用因子分析和聚类分析等技术。再次,通过效率和银行效率的理论回顾和文献综述,明确指出本文所指的银行技术效率是一种前沿效率,前沿效率的好处在于能够综合反映商业银行的财务和经营绩效,并且能够进一步分解得到更多的发现。基于研究目的的需要,论文将选择使用采用数据包络分析(DEA)方法评测我国银行的技术效率。关于效率的文献综述表明恰当选择前沿效率评价指标的重要性。本章最后综述了战略群与企业绩效的关系,尤其是战略群之间是否稳定地表现出经营绩效的差异,这是一个非常吸引人的研究题目。然而,大量的实证分析表明,战略群与经营绩效之间不存在确定的映射关系,虽然许多实证分析战略群之间的绩效差异化显著。通过本章的梳理,明确论文的研究目的和任务,即将通过实证分析探讨和检验：一、我国银行业是否存在战略群,若存在战略群,则不同战略群的关键战略变量必须呈现显著性差异；二、若存在战略群,则战略群类型和银行效率是否存在稳定的联系,如果存在,则表明我们银行业存在着内部的移动壁垒,这些内部的移动壁垒保证了每个战略群获得差异化的稳定的期望绩效,不同绩效水平的战略群共同构成了银行业的生态系统。第三章：分析框架,主要内容是是论文研究的主要概念和主要方法的定义和选择以及研究框架的基本描述,统领以后章节的实证分析逻辑和方法。本章首先辟清本文所指的战略群概念基于产业经济理论,并非基于认知视角的战略群概念,战略群的界定采用波特(1979)和Yami&Benavent (2000)关于战略群的定义,战略群的分析思路即选择关键战略变量,利用多元统计分析方法划分战略群。本章提出战略变量的选择将基于战略和战略群的内涵,包含商业银行的三个战略方面的内容,即资产战略(投资战略)、负债战略(融资战略)、收入战略,具体战略变量依据商业银行资产负债表和利润表构建,最终采用凝聚算法的层次聚类分析划分战略群。本章界定了技术效率的内涵和分解采用Farrell的定义,评价方法采用数据包络分析的CCR和BCC模型,关于技术效率的变化则使用Malmquist指数度量。本章认为技术效率评价指标的选择非常重要,通过比较常用的六种投入产出指标选择方法,提出应当根据现代商业银行的经营现实结合生产法选择银行投入产出指标,最终确定商业银行的投入要素是核心资本、人力资本和管理费用,但受到数据可得性的限制,评价技术效率的投入指标最终是核心资本净额、业务及管理费(含员工薪酬)；产出指标则是传统存贷款业务和部分资金业务创造的净利息收入,和中间业务创造的手续费及佣金收入,后者几乎构成了非利息收入的全部。本章的第三部分提出关于战略群与效率之间的关系的两个假设性命题,第一个命题是商业银行战略群之间绩效异质性,战略群内部绩效同质性,第二个命题是商业银行的战略转型(表现为战略群转换)会导致商业银行效率下降。当然,实证部分同时将检验资本充足水平、贷款质量是否会影响商业银行的效率。第四章：战略群分析,本章依据第三章定义的商业银行战略变量,利用银行年报整理得到样本银行战略变量的面板数据集,然后使用主成分分析和因子分析从众多战略变量中抽取更显著的少数变量,降低战略变量的维度,最终采用聚类分析发现我国银行业确实存在四个战略群。依据每个战略群关于因子的得分归纳总结不同战略群的主要特征,最后将四个战略群分别命名为：传统银行战略群(以中信银行为代表)、多元银行战略群(福州银行为代表)、领先银行战略群(以工商银行为代表)、特色银行战略群(以兴业银行为代表)。本章实证分析的创新包括三个方面：一是采用混合数据进行聚类分析,能够考察战略结构的动态变化；二是实证分析揭示我国商业银行业存在四个各有特点的战略群,并根据战略变量的特征为之命名。第五章：技术效率评价,本章依据第三章定义的商业银行投入产出指标体系,利用银行年报整理得到评价我国商业银行效率的投入产出变量的面板数据集,然后使用Deap软件评价了我国代表性商业银行2006-2010年的技术效率(包括纯技术效率和规模效率以及效率的Malmquist指数)。技术效率的评价结果表明,我国银行业的技术效率、纯技术效率和规模效率的平均值分别约为0.90、0.93、0.96,且国有控股大型商业银行的效率值高于普通股份制商业银行；Malmquist指数的分析表明,2006-2010年我国银行业的技术效率、纯技术效率、规模效率、生产技术变化和全要素生产率都呈提高趋势,大型商业银行持续的生产技术进步推动了大型商业银行的全要素生产率持续提高,也是确保我国银行业全要素生产率提高的主要动力。然而,除了生产技术的Malmquist指数外,国有控股大型商业银行的效率Malmquist指数没有明显地高于普通股份制商业银行。本章的创新点是评价商业银行技术效率的投入产出指标的选择,较好地抓住了商业银行运营的核心。现代的商业银行是一个提供多元金融服务的投融资中介,吸储放贷是商业银行最原始的业务,不是商业银行的全部。当前国际和国内银行监管部门都提高了资本充足率的监管要求,战略转型是商业银行的必然选择,商业银行将努力控制贷款等资本占用高的传统业务,寻找一条资本集约化使用的道路。第六章：实证分析商业银行战略群与银行效率的关系。本章是论文的重点部分。本章的工作包括两个部分：一是静态分析商业银行战略群类型与技术效率之间的关系,即通过实证分析,检验我国商业银行不同的战略群之问的技术效率以及技术效率的变化趋势是否存在显著差异；二是,从动态的视角,检验商业银行战略群转换是否会影响技术效率和全要素生产率的变化趋势,即战略群转换对技术效率和全要素生产率Malmquist指数的影响是否显著。实证研究发现,商业银行的战略群类型是银行技术效率的显著性影响因素,不同战略群的效率分布差异显著,同时,商业银行从一个战略群向另一个战略群的转换会降低商业银行的技术效率进步,会妨碍商业银行生产技术的改进,最终影响全要素生产率的提高。本章同时检查了商业银行资产质量和核心资本充足率对于商业银行技术效率及其动态变化的影响。研究发现资产质量与商业银行技术效率当期之间的联系不显著,但是资产质量的变化会影响商业银行技术效率和规模效率的改进,最终影响全要素生产率的变化。核心资本充足率和商业银行技术效率之间存在显著的联系,核心资本充足率会降低当期的技术效率、纯技术效率和规模效率,但是提高核心充足资本不会显著影响全要素生产率的改进。第七章：案例分析,该部分内容分别以典型银行中国工商银行和兴业银行为例,分析了领先性银行和特色性银行的战略内容,并结合实际数据分析两家典型银行的战略执行度。按照战略群划分,中国工商银行和兴业银行分属于领先银行战略群和典型银行战略群,但两家银行的共性是,2006-2010年没有发生过一次战略群转换。数据分析表明,中国工商银行和兴业银行都切实地—以贯之地执行了公司的战略,最终取得不凡的银行绩效。第八章：总结论文。该部分总结了论文所做的全部工作,梳理了论文得到的全部结论,并最后提出一些研究启示。论文的创新之处有：1.本文是国内第一篇研究我国商业银行战略群以及检验银行业战略与效率的博士学位论文,论文通过实证分析发现了我国银行业存在的四类战略群,总结了每一战略群的战略特征并命名。论文的研究将有助于理解我国银行业的产业结构,有助于指导商业银行更科学地制定战略转型或同业竞争策略。2.本文将战略群分析与前沿效率分析相结合,使用前沿技术效率取代利润率衡量绩效,检验战略群类型与技术效率、纯技术效率、规模效率的关系,极大地拓展了战略群与绩效的关系研究,根据最新的一次文献检索,目前还发现类似的研究。3.依靠技术效率的Malmquist指数,建立战略群转换与效率变化的联系,将战略群与绩效的关系的静态考察推向动态分析,是关于战略群动态研究的一项有意义的创新和探索。4.关于商业银行战略变量和投入产出指标的选择,是论文基于先前研究文献所作的创新,变量和指标既符合相关理论,又比较切合现代商业银行的战略方面和经营活动特征,是相关研究领域的有益创新和进展。更多还原

【Abstract】 In2006-2010, in order to prepare for opening the banking market fully to foreign banks, China’s banking market has experienced great changes in important ways, the bank ystem made great reforming for reakthrough from multiple levels such as the corporate governance, development strategy, management concept, incentive and restraint mechanism and etc.."Strategic transformation" was put forward by many commercial Banks as the strategic goal of the reforming. In particular, after the financial crisis, the new Basel agreement and the commercial bank capital management methods (for trial implementation) launched by China banking regulatory commission improved the requirements of commercial bank risk capital, the domestic commercial Banks are compelled to strike for strategic transition. To chang the means of growth and reduce capital occupancy higher business to develop capital intensive business, has become the consensus of the Chinese banking industry. Our country commercial bank has just established a modern bank for a very short time, strategic management lags behind the western banks, homogenization, product service differentiation shortage, small and medium-sized joint-stock commercial bank strategic positioning uncertainly, city firms do not know the future what course to follow, a variety of problems about domestic banking is almost the pecieved impression to the public in a wide range, also is the focus of public problems.This paper focuses on, after China’s commercial banking reforming, the introduction of strategic investors and strategic transformation, whether the banking strategies are homogeneous or heterogeneous. What kind of strategy of the bank leads to good performance? Strategic choice can predict certain efficiency level? In other words, in our banking industry, are there any strategic groups pursueing different strategic? Does the banking industry still keep strategy homogenization, products and services homogenization problems? In addition to the state-owned commercial Banks, joint-stock, regional bank such labels, is there no other difference? In order to solve these questions, this paper to strategic group theory as the basis, analysis of China’s banking market structure, and try to test commercial Banks strategic types and bank efficiency, the relationship between the commercial Banks and strategic change,and the influence of strategic transformation to bank efficiency.The paper including the introduction is divided into eight chapters, the main content of each chapter is:The first chapter:the introduction, the main contents of this part is to introduce the topic significance as well as the present situation of the related research, through the introduction of the research background that commercial Banks strategic group and significance to inspect between Strategic Group and efficiency of the relationship. The introduction of the research also shows the basic logic thinking, that is combining the normative analysis and empirical analysis. Firstly propose research hypothesis and research framework on the basis of theory, and then step by step through the empirical analysis to test whether the proposition that was established or conditions. At the end of the introduction, it reports the shortage of the paper and the possible innovation place.The second chapter:theoretical basis, the main content is combing research based on the basic theory, through the interpretation of the concept and definition of comparison, the paper finally reference or based on the specific theory. First of all, through the review of the development of strategy theory, the paper will be strategic understanding for an enterprise or organization in order to achieve organizational vision and makes about the organization’s management structure, resource allocation structure, product or service structure and target market structure of the long-term planning, i.e., the comprehensive Gerry Johnson and Kevan Scholes company layer strategy and enterprise layer strategy content, including enterprise financing, the allocation of resources, customer structure, product structure, etc.Secondly, through the strategic group theory combing, determined in this paper will be based on the industrial economy perspective to understand the strategic group, rather than from cognitive perspective definition and explain enterprise strategic group, although the latter are also reasonable. At the same time, about strategic group analysis technology comparison, this paper will select several key strategic variables using multivariate statistical analysis divided our country commercial bank Strategic Group, specific analysis process will be using factor analysis and cluster analysis technology. Again, through the efficiency and the theory of bank efficiency review and literature review, this paper points out that this paper referring to bank technical efficiency is a frontier efficiency, frontier efficiency advantage can comprehensively reflect the commercial bank’s financial and business performance, and can further decomposition get more found. Based on the needs of the research purpose, this paper will choose to use the data envelopment analysis (DEA) method evaluating the bank’s technical efficiency. The literature review on bank efficiency shows that appropriate choice of input-output index for frontier efficiency evaluation is importance.The end of this chapter reviewed the strategic group and enterprise performance relationship, especially between strategic group is stable showing the business performance of the difference, this is a very attractive research topic. However, a large number of empirical analysis shows that, strategic group and business performance does not exist between certain mapping relationship, although many empirical analysis of the performance of the differentiation strategy between significantly. Through this chapter carding, clear thesis research the goal and the duty, is through the empirical analysis and inspection:one of China’s banking industry, whether there are strategic group, if present Strategic Group, is different strategic group key strategic variables must show significant difference; Second, if present Strategic Group, the strategic group type and bank efficiency whether there is stable connection, if present, indicates that our banking there is internal mobile barriers, these internal mobile barriers to ensure the each strategy for differentiation of the stability of the expected performance, different performance levels of strategic group together constitute the life of the banking industry.The third chapter:analysis framework, the main contents of the paper is the main concepts and main method of definition and selection and research framework of the basic description, and chapter after empirical analysis of the logic and method. This chapter first monarch referred to clear this strategic group concept based on the industrial economic theory, is not based on the cognitive perspective strategic group of concepts, the definition of strategic group by poter and yami about the definition of strategic group, strategic group analysis methods namely select key strategic variables, using multivariate statistical analysis method of classification strategy.This chapter puts forward strategic variable selection will be based on the strategy and the strategic group of connotation, including commercial bank three strategy, i.e., the content of strategic assets (investment strategy), liabilities strategy (financing strategy), income strategy, the specific strategy variables based on commercial bank balance sheet and income statement, and finally construct the condensation algorithm of hierarchical cluster analysis, strategic group division.This chapter defines the connotation of the technical efficiency and decomposition using Farrell definition, evaluation methods using data envelopment analysis of CCR and BCC model, about the technical efficiency change with Malmquist index metric. This chapter think the selection of evaluation indicators for technical efficiency is very important, through the comparison of commonly used six kinds of input and output index selection method, put forward shall, according to the modern commercial bank management reality production method choose bank input-output index, and finally determined that the investment of commercial banks is the core elements of capital, human capital and management fees, but by data availability, the limitation of the evaluation of technical efficiency in index is ultimately core net capital, business and management fee (including staff salary); Output indicators is the traditional loan business and part of funds business creation of net interest income, and intermediate business creation fee and commission income, the latter almost constitute the non-interest income of all.This chapter put forward the third part about strategic group and efficiency of the relationship between the two hypothetical proposition, the first proposition is the commercial bank Strategic Group performance between heterogeneity, strategic group internal performance homogeneity, the second proposition is the strategic transformation of commercial banks (for the performance of the Strategic Group conversion) can lead to commercial bank efficiency decline. Of course, the empirical part will also check capital adequacy level, the loan quality would affect the efficiency of commercial banks. The fourth chapter:strategic group analysis, this chapter according to the third chapter defined commercial bank strategy variables, using the bank annual report finishing get sample bank strategy variables panel data set, and then using principal component analysis and factor analysis from many strategic variables extraction more prominent a few variables, reduce strategic variable dimension, finally using cluster analysis found that our country banking exists four strategic group. According to each strategic group about the factor score summarizes the main features of different strategic group and will last four strategic group were named:traditional bank Strategic Group (to citic bank as the representative), multiple bank Strategic Group (fuzhou bank as the representative), leading bank Strategic Group (represented by commercial bank), special bank Strategic Group (with societe generale for representative).This chapter empirical analysis innovation includes three aspects:one is to adopt hybrid data clustering analysis, to study the dynamic change of strategic structure; The second is the empirical analysis reveals China’s commercial banking there are four characteristics of the strategic group, and according to the characteristics of strategic variables for the name.Chapter5:technical efficiency evaluation, this chapter according to the definition of the third chapter commercial banks input-output index system, using the bank annual report arrangement for evaluation of our country commercial bank efficiency of input and output variables panel data set, and then use the Deap software evaluation in our country commercial bank representative2006-2010years of technical efficiency (including pure technical efficiency and scale efficiency and the efficiency of the Malmquist index). Technical efficiency evaluation results show that, our country banking industry technical efficiency, pure technical efficiency and scale efficiency respectively the average of about0.90,0.93,0.96, and large state-owned commercial bank efficiency value higher than common share-holding commercial banks; Malmquist index analysis showed that2006-2010years of China’s banking industry technical efficiency, pure technical efficiency and scale efficiency, production technology change and total factor productivity is increasing trend, large commercial banks continuous production technology progress promoted the large-scale commercial bank’s total factor productivity, but also to ensure the continuous improvement of China’s banking industryThis chapter is to evaluate the innovation points of commercial bank technical efficiency of input and output index choice, better grasp the core of the commercial bank operation. The modern commercial bank is a firm providing multiple financing intermediary and financial services, loan and deposit are the most original commercial bank business, not the whole function of commercial banks. The current international and domestic bank supervision departments to improve the capital adequacy ratio of regulatory requirements, strategic transformation is the inevitable choice of commercial banks, commercial banks will try to control such as loan capital occupancy high traditional business, looking for a capital intensive use of road.Chapter6:the empirical analysis commercial bank Strategic Group and the relationship between the bank efficiency. This chapter is the key part of the thesis. This chapter work consists of two parts:one is static analysis commercial bank Strategic Group type and the relationship between the technical efficiency, that is, through empirical analysis, test our country commercial bank different strategic group technology between efficiency and technical efficiency change trend whether there are significant difference. The second is, from the dynamic perspective, inspection business bank Strategic Group conversion would affect technical efficiency and total factor productivity change trend, namely strategic group of conversion of technical efficiency and total factor productivity Malmquist index effects are significant. The empirical study found that commercial banks strategic group type is bank technical efficiency of the significant factors that influence the efficiency of different strategic group distribution significant difference, at the same time, commercial banks from a strategic group to another group of strategic transformation of commercial banks will reduce the efficiency of technology progress, will hinder the improvement of production technology of commercial banks finally.This chapter also checked the commercial bank asset quality and core capital adequacy ratio for commercial banks to technical efficiency and the influence of dynamic change. The study found that the assets quality and commercial banks in the current relationship between technical efficiency is not significant, but the quality of assets change will affect commercial banks technical efficiency and scale efficiency improvement, will ultimately affect the total factor productivity change. The core capital adequacy ratio and commercial banks between technical efficiency are obviously related, the core capital adequacy ratio will reduce the current technical efficiency, pure technical efficiency and scale efficiency, but improve core enough capital not significant effect on total factor productivity improvement.Chapter7:case analysis, this part respectively by typical bank and commercial bank of China and the industrial bank as an example, this paper analyzes the characteristics of leading banks and bank strategic content, and combining with actual data analysis of two typical bank of strategy implementation. According to the strategic group division, the industrial and commercial bank of China and the industrial bank belongs to leading bank Strategic Group and typical bank Strategic Group, but the two banks are common,2006-2010not taking a strategic group of conversion. Data analysis shows that the industrial and commercial bank of China and the industrial bank are really the campaign of the company’s strategic implementation, and finally remarkable bank performance.The eighth chapter summarizes the paper. This part summarizes the thesis do all the work, this paper get the all the conclusion, and finally puts forward some enlightenment.The paper may make some innovation including:1. This is the first study in Ph.D. dissertation in China on commercial bank Strategic Group and the relationship between bank strategy and bank efficiency. This paper through the empirical analysis of China’s banking industry found there existing four types of strategic group, summarized each strategic group of strategic characteristics and named them. The paper research will help to understand the industrial structure of China’s banking industry, to help guide commercial banks to make more scientific strategic transformation or horizontal competition strategy.2. This paper combined strategic group analysis and frontier efficiency analysis together, taking frontier Technical Efficiency instead of profitability to measured bank’s performance, and inspected the relationship between Strategic Group type and technical efficiency, pure technical efficiency and scale efficiency, which greatly expanded the study of strategic group and the relationship between strategic group and firm performance, similar research is not found yet.3. Rely on the technical efficiency of the Malmquist index, this paper established an connection of strategic group conversion and efficiency change, which put forward the static study of the relationship between strategic group and firm performance to the dynamic analysis, and is a significant innovation and exploration about the Strategic Group dynamic research.4. Te strategy variables and input and output index of commercial bank, are choosed based on previous research literature, which is an innovation. The variables and index should not only conform to the relevant theory, but also compare the modern commercial bank’s strategy and business activity characteristic. So it is an beneficial innovation and progressment in the related research field.更多还原