Ownership structure and risk-taking: Comparative evidence from private and state-controlled banks in China
Ownership structure and risk-taking: Comparative evidence from private and state-controlled banks in China
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DOI：
10.1016/j.irfa.2014.03.009
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发表时间：
2014-12-01
影响因子：
8.2
通讯作者：
Hou, Wenxuan
中科院分区：
文献类型：
--
作者：
Dong, Yizhe;Meng, Chao;Hou, Wenxuan
本文研究了股权结构对中国银行风险承担行为的影响。本文将我国商业银行按控股股东的类型分为三类，发现政府控股的银行比国有企业控股的银行和私人投资者控股的银行承担的风险更大。这是由于严重的政治干预和对GCB采取审慎的银行管理做法的激励不足。我们还发现，在股权集中的银行中，这种结果更为明显，这可能是因为大的控制权有助于加强对管理层的监督，并促进审慎的经营程序。我们的研究结果对中国银行业正在进行的改革具有重要的启示意义。(C)2014爱思唯尔公司All rights reserved.
This study examines the impact of ownership structure on Chinese banks' risk-taking behaviours. We classify the Chinese commercial banks into three categories based on the types of controlling shareholder, and find that banks controlled by the government (GCBs) tend to take more risks than those controlled by state-owned enterprises (SOECBs) or private investors (PCBs). This is attributed to the severe political intervention and weak incentives to follow prudent bank management practices for GCBs. We also find that the results are more pronounced among banks with concentrated ownership presumably because the large controlling power helps to enhance the monitoring of the management and promotes prudent operating procedures. Our findings have important implications for the ongoing reform in the Chinese banking sector. (C) 2014 Elsevier Inc. All rights reserved.