The Comparative Research Of The Two Kinds Of Model Of Commercial Banks' Shareholding-system Reform

The economic institution reform of our country has already reached a very difficult and important stage, after successful implementation of market-oriented reforms of most industries .We are facing the most important and the most difficult part in the course of the economic reform: reform of commercial bank system, especially the reform of the four major state-owned commercial banks. How should we reform the four major commercial banks reform on earth? What steps should we take? This is the subject of this paper.Though our country has already determined to turn the four banks into listed company in the native or foreign stock market at present in order to promote the improvement of the four banks' governance, and improve their operation efficiency.Can this kind of reform reach the anticipated goal? This paper studies the influence on the corporate governance of different property rights structure of firm according to the modern theory of the firm, and draw the conclusion: there is an enormous negative effect on the banks' governance if the state owns the residual right of control of the banks, and it will make the reforms of the four banks unable to reach the anticipated goal. Thus only could privatization make the reform succeed in improving their operation efficiency, and the paper makes some primary studying on the possible steps the reform should take.