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The Research On Regulation And Supervision Of Information Disclosure Of Listed Banks In China

Posted on:2010-11-08Degree:DoctorType:Dissertation
Country:ChinaCandidate:X H DaiFull Text:PDF
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In the last two decades, there is a series of bank crisis in the world, which has the systematic and destructiveness influence on the financial system and the whole social economy. Adapting for the banking industry's stable, innovative and developing needs, the international banking industry supervision organization and the banking supervision authority of the various countries has been deepening the banking supervision reform. The banking supervision reform has had the profound changes, one of which is put more emphasis on the supervision of banking information disclosure . The banking information disclosure supervision has occupied an important place in the banking supervision, and it is a good supervision system which decrease the risks and increases the efficiency. Meanwhile, listing is the mainstream of the development of Chinese banks. Listed-banks has been the main body of the banking and has caused much concern among the whole society. However, from the point of view of the listed banks' operation and efficiency , it is found that information disclosure supervision must be strengthened and the lack of systematical study in China. Including the institution's changes, operation and perfection, the research on the Chinese listed-bank information disclosure supervision has the very important practical and theoretical significance.For the above reasons, the author focuses on the establishment of analytical framework. Basing on the situations of listed-banks, centring on the information disclosure supervision, the article disserts the thesis following the research ideas, which is the theory (institution) analysis, specific proof and suggestion. Starting from the the evolvement of information disclosure supervision, the dissertation analyse its historical development in detail. Then it introduces institution analysis which study and conclude the overseas and domestic institution development of listed banks' information disclosure information, and explores the path of system and the developing motivation.On the basis of the above theories, the article analyzes the composition of the listed banks information disclosure supervision, which includes the supervision of the government, the market and the banking self-control according to the differences of the supervision power. The government should have the suitable border in the supervision. Otherwise, the failure will be caused by the excessive or insufficient supervision. The role conflict and function disorders exist among government supervision departments for example, China Banking Regulatory Commission, China Securities Regulatory Commission and Stock Exchange It especially analysis the main cases of the power rent-seeking and supervision corruption in recent 10 years since China Securities Regulatory Commission established, and put forward how to effectively prevent the corruption. That is compressing the regulators'public rights, strengthening anti-corruption and raising the moral cost of the corruption, so diluting the motivation, improving system and reducing the opportunity of the corruption. Beside this, the article analyzes the US information disclosure supervision in the subprime crisis.In the listed banks information disclosure supervision, the self-discipline which is great significant for the effectively supervision is reflected in the company governance, internal control and inter-bank supervision. According to the 2008 annual report, the article investigates and analyzes the governance of the 14 listed bank companies, regarding that the board of director, the supervisor board and the senior management comply with the requirements, but their stock ownership proportion is low and incentive mechanism for shareholders is insufficient.The listed banks information disclosure supervision is the other regulators supervise and manage the listed banks information disclosure's activities and content besides the governmental regulation. The article has the regressive and empirical study on the market discipline effect on the 11 listed banks from 1997 to 2007. The depositors have the weak bank binding force because of the national implicit insurance, so the article analyzes the expression form and the function mechanism of the media in the listed banks information disclosure supervision with a large number of examples. It also put forward the policies to regulate the noise of stock and the web log according to the rumor of stock financing preference in the early 2008.Finally, the article establishes the systematic solution to improving the listed banks information disclosure supervision, which is the countermeasure and suggestions of perfecting the supervision from the supervision's environment optimization and improving supervision system. The supervision's environment optimization and improving supervision system are the organic unity. One focuses on the management of external environment of the supervision main body, which provides environmental sustaining.And the other on the perfecting the micro-institutional system.The innovations of this article have four points: The first, differing from the popular researches on the information disclosure, the paper systematically studies the improvement of the listed banks information disclosure supervision's operation and system from the supervision's angle. The second, it analyzes the micro-operation system. A large number of examples show that the listed banks supervision always lags behind the media and the bank disclose passively. So it is the pioneering research, which proposes the three main forms of the media supervision, that is information publishing, information disclosed, and information comment. Among these, information disclosed is the most effective as a regulating form. Starting the case of stock financing preference in the early 2008, it also thinks that the Internet should strengthen the supervision on the noise of stock and governance of the web log. The third, according to the 2008 annual report, the article analyzes the governance of the 14 listed bank companies, and comprehensively study the development of the listed banks governance with the first-hand materials. It has panel date and empirical analysis for the depositor's restraint on the 11 listed banks in the past 10 years. The fourth, from the ecological perspective of supervision, it discusses the environment optimization, put forwards the comprehensive and mutual functioned system of the listed banks information disclosure regulation and supervision.
Keywords/Search Tags:Listed banks, Regulation and supervision of information disclosure, Ecological environment of supervision
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