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论文编号：	6568
作者编号：	2120122577
上传时间：	2014/6/18 21:41:40
中文题目：	我国商业银行跨境上市公司治理效应
英文题目：	Research on the Effects of China''''s Commercial Banks Cross-border Corporate Governance
指导老师：	郝臣
中文关键字：	跨境上市；公司治理 ；商业银行
英文关键字：	Cross-border Listing; Corporate Governance; Commercial Banks
中文摘要：	商业银行是我国金融业的核心，也是我国经济发展的重要支柱，研究这一行业具有重要的意义。然而由于我国特殊的银企关系以及历史性原因，我国商业银行在经营和管理以及绩效方面一直存在着较大的问题，因此人们开始寻求对商业银行更深层次的改革方式——公司治理改革。我国商业银行公司治理改革主要是通过境外上市的方式而实现的，因此本文将对我国商业银行境外上市的公司治理效应进行研究，即检验这一方式是否起到了预期的效用。本文在研究理解有关公司治理的相关理论基础上，整理总结了有关商业银行跨境上市的相关文献，发现对于跨境上市的研究主要集中在一般企业跨境上市的动因、地点方式选择等方面，关于商业银行境外上市公司治理的变化仍存在着较大空白。因此本文针对商业银行这一特殊公司群体进行实证检验，为跨境上市是否能够有效提升商业银行公司治理水平提供了有效的证据。 本文还通过实证分析检验了所提出的研究商业银行跨境上市公司治理问题的三个假设。分别为：跨境上市能够显著提升商业银行公司治理水平；跨境上市提升商业银行公司治理水平能在公司价值中得到体现；商业银行跨境上市提升公司治理程度显著高于仅在国内上市。对于第一个假设本文结合多篇文献的研究方法，以及国内外较为权威的公司治理指数方法，选取了能够体现我国商业银行公司治理水平的指标，构建商业银行公司治理指数。通过配对T检验筛选能够对跨境上市商业银行公司治理水平起到显著影响的指标。并通过对公司治理指数的配对T检验验证跨境上市是否对商业银行公司治理水平起到了显著的作用。对于第二个假设利用上市前后共七年的公司治理指数以及公司绩效指标进行了稳健性回归检验，由于我国商业银行规模相差较大，因此采用公司总资产对数作为控制变量。为了进一步证实跨境上市的有效性，本文还设计了对照性检验。 经过理论和实证检验本文发现商业银行跨境上市具有客观必要性和现实可行性，且跨境上市切实有效的提升了我国商业银行的公司治理水平。但由于现有数据量较少，方法仍不完善，在今后可以做进一步的检验证明。
英文摘要：	Commercial banks are the core of China's economic development is an important pillar of China's financial industry, the research in this sector is of great significance. However, because of the special relationship between banks and historical reasons, China's commercial banks in terms of operation and management, and performance there has been a big problem, so people began to seek commercial banks deeper approach to reform: corporate governance reform. Governance reform of China's commercial banks overseas listed company mainly through the manner in which to achieve, and therefore the effect of corporate governance overseas listed Chinese commercial banks will be studied in this paper , that test whether this approach had the desired effect. Based on the research to understand the theory of corporate governance on the basis of relevant , finishing summarizes the literature on cross-listed commercial bank, found the study focused on cross-border listing of motivation for general corporate cross-border listing , location mode selection, etc., change on overseas listed commercial bank corporate governance , there are still large gaps. Therefore, this paper this particular company for commercial banks empirical test groups for cross-listed commercial bank is able to effectively improve the level of governance has provided valid evidence. This paper also examines the proposed cross-listing of commercial banks corporate governance issues three assumptions through empirical analysis. Namely: cross-listed commercial banks can significantly enhance the level of corporate governance; cross-listed companies to improve governance of commercial banks could be reflected in the value of the company; the degree of cross-border governance of listed for commercial banks companies was significantly higher than only increase in the domestic market. For the first hypothesis, this paper selects many documents research methods, as well as domestic and international corporate governance index more authoritative approach, to reflect the country's commercial bank governance indicators, building commercial banks Corporate Governance Index. By paired T-test screening capable of cross-border governance of companies listed commercial banks play a significant impact on the index. And the Corporate Governance Index paired T-test to verify whether cross-listed commercial bank corporate governance plays a significant role. For the second hypothesis is the relationship between cross-listed commercial bank corporate governance and corporate performance, before and after the use of corporate governance and corporate performance indices of seven indicators were robust regression test, because of the large size difference between the commercial banks in China, so we choose a number of the company's total assets as a control variable. To further confirm the effectiveness of cross-border listing, we design a control test. The before and after commercial banks listed overseas and governance as well as the level of performance only in the A-share listed companies listed commercial banks carried out a comparison by comparing its rate of change as well as non-parametric test applicable to non-normal distribution. Through theoretical and empirical cross-listed commercial banks we find an objective necessity and practical feasibility, and effective cross-border listing of the governance of the company to improve China's commercial banks. However, due to less amount of data available, the method is not perfect, after a cross-border gradually increased the number of listed banks can do further tests to prove.
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