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    Title: 上市是否會改善銀行業之經營績效 : 中國銀行業之實證研究
    Other Titles: Do the initial public offerings improve the performance of banking industry : an empirical study on China banking indutry
    Authors: 林惠鈴;Lin, Hui-ling
    Contributors: 淡江大學國際貿易學系國際企業學碩士班
    吳秀玲;Wu, Hsiu-ling
    Keywords: 中國銀行業;公開上市發行;銀行上市;經營績效;initial public offerings(IPO);operating performance
    Date: 2006
    Issue Date: 2010-01-11 01:22:34 (UTC+8)
    Abstract: 在2001年12月中國加入世界貿易組織(WTO)後,為了提升銀行業之競爭力,中國政府提出改革計畫,預計將四大國有商業銀行改造成“治理結構完善,營運機制健全,經營目標明確,財務狀況良好,並具有國際競爭力的現代商業銀行”。其中,改革計畫的步驟可具體分為:商業化經營、公司化和上市。本研究的主要目的是由制度轉型的中國銀行業獨特性之角度出發,以特有之國家別為基礎,探討商業銀行是否能藉由「上市」改善經營績效。
    本文研究期間為1996-2004年,採用中國具代表性的14家商業銀行,包括4大國有銀行及10家綜合性股份制商業銀行之財務資料來進行實證分析。本文選取銀行資產報酬率(ROA)、銀行股東權益報酬率(ROE)、銀行營業費用等變數(operating expenses),作為衡量銀行績效表現的指標。
    根據實證結果發現,在1996-2004年間進行上市的銀行,經營績效並未優於未上市銀行,主要原因在於中國大陸股票市場法律規範不健全、公司治理結構不完備、金融創新能力不足以及不重視風險控制。銀行資產報酬率在上市後會改善,但上市年數越長則表現變壞;相反地,上市後股東權益報酬率下降,但上市時間越久則有明顯改善。關於銀行特性方面,年齡越大、以非利息收入業務程度越高、資產規模越大的銀行,他們的績效表現較差。此外,在經濟發展程度越高、每人實質產出越高的情況下,有助於改善中國銀行業的經營績效。
    In December 2001, China became a member of WTO. In order to ensure banks be able to compete with foreign banks entering China, the government has embarked on a number of economic policy reforms. One of the steps for the implementation of this policy is to IPO major banks. Therefore, the purpose of this paper is to discuss the relationship between the IPO and the performance of China banking industry.
    This paper undertakes this analysis using 14 bank-level accounting data and general macroeconomic data for the time period covering 1996-2004. The indicators of performance are including return on asset (ROA), return on equity (ROE) and operating expenses.
    According to the empirical evidence of this paper, the performance of IPO bank was not better than that of non-IPO bank. ROA increased after IPO, but the longer the time of IPO, the worse the ROA. In contrast, ROE performed worse after IPO, but the longer the time of IPO, the better the ROE. Moreover, the bank which had an elder age, a larger scale or more non-interest income had a negative effect on its performance. Finally, in the higher per-capita GDP environment, the performance of bank improved.
    Appears in Collections:[國際企業學系暨研究所] 學位論文

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