上市城商行治理结构和经营绩效关系研究.doc

PAGE PAGE 31 上市城商行治理结构和经营绩效关系研究 摘要： 2008年的金融危机后，公司经营绩效治理再一次受到广泛关注。城商行作为特殊的公司形态，更需要从金融特殊性和风险差异化角度收集数据，本文采集了宁波银行、杭州银行、北京银行、上海银行等有代表性的9家上市城商行的2012-2014年的年报数据作为研究样本，通过回归模型，验证影响公司经营绩效的董事会层面、监事会层面、股权结构以及高管薪酬激励等因素。研究结果显示，增加控股股东比例和地方政府持股比例、扩大独立董事规模、增加董事会次数、对高官进行产权激励都能一定程度上提高银行经营绩效。对于监事会规模和监事会会议次数的效果还有待内部结构的进一步完善和落实。 关键词：股权结构；董事会；监事会；高管激励；经营绩效 A study on the relationship between corporate governance structure and operating performance of listed companies. Abstract: Since from the financial crisis in 2008, corporate performance management is attracted widespread attention once again. City bank as a special form of company, we need to collect data from the angle of the special nature of financial and risk difference, in this paper, we choose nine annual reports from representative city banks as sample, such as Bank of Ningbo、 Bank of Hangzhou、 Bank of BeiJing and Bank of Shanghai. By regression analysis, we can inspect the impact of ownership structure、 Board of director、 Board of supervisors and Executive incentive on business performance. Results show that there are some ways to improve business performance partly. Such as increasing proportion of controlling shareholders and the local government ownership, expanding the scale of independent directors, increasing number of the board of directors, and motivating the official property rights. For the influence on the size of the board of supervisors and the effect of the meeting, it remains to improve the implement of the internal structure further. Keywords: ownership structure; Board of director; Board of supervisors; Executive incentive; operating performance 一、绪论 （一）研究背景 纵观发展的20多年，伴随着与日俱增的营业部网点和从业人员业，城商行的资产规模愈来愈大，资产质量愈来愈优质，资产规模效益愈来愈持续发展。据统计，截至2016年3月，城商行的总资产达到238196亿元，同期增长16.6%，总负债达222023亿元，同期也增长了16%。可见，城商行的地位和作用逐年提升，比较优势因支持地方经济建设方面尤为突出。在银行内部治理方面，银行作为特殊的公司形态，拥有最基本的公司治理框架，并从理论和实践上大胆尝试和积极探索，但一切努力都集中在处置不良资产、处理内外部关系以及引进先进管理技术的层面，并未涉入银行管理体制的深层次方面。在当下现代市场经济条件下，银行内部建立高效的激励约束和权力制衡机制是银行高效运作、科学管理的原动力，也为确保平衡银行利益相关者的利益合理配置，实现银行优良运