Comparison And Analysis Of The Management Mould Of America And Japan's Commercial Banks And The Reformation Direction Of Our National Commercial Banks' Management Mould

The commercial bank is an important component in the financial system and its steady and sound development has a great influence on the economic security of a country. Among the numerous factors influencing the management and development of the commercial bank, property right institution is a most basic and important one. From the theoretical point of view, there are mainly two kinds of property right institutions, namely the private property right institution and the state-run property right institution. The major schools of economics, such as the property right theory, the corporation theory and the new institution economics, etc. have deeply probed into the efficiency of these two kinds of property right institution. Although the above theories hold divarication in many aspects, they have come to a common understanding on the efficiency of private property right and state-run property right, namely the latter is less efficient than the former. Since the reform and opening-up, China has adopted the policy of gradual reform in the financial system, following the principle of breaking through from the edge and part and pushing into the centre progressively. After more than 20 years of exploration and practice, great progress has been made in the reform and adjustment of state-run commercial bank and the efficiency of bank has been raised to some extent. The state-run commercial bank in China has been always in the developing stage, so its reform in the past has always been concentrated on the transformation of management mechanism and the transfer of the power to a lower level and hasn't touched the issue of property right. With the fast socio-economic development in China, the commercial bank in China grows more and more powerful, but the problems caused by the defect of state-run property right institution is getting more and more serious. The state-run commercial bank concentrated the majority of the financial assets, so it is the lifeblood of the national economy and concerns the security of national economy to a great extent. The entry of foreighn banks and the development of economic globalization make the state-run bank in China faced with more severe challenge. The "Decision"of the Third Plenary Session of the 16th Party Central Committee proposed clearly that the state-run commercial bank implement corporationized transformation and set up a contemporary property right institution, which has "clearly affiliation, well defined right and responsibility, strict protection and smooth operation". At present, China Construction Bank and Bank of China are carrying on the corporationized transformation and coming into the list share market, which symbolized the formal launch of the corporationized reform of the state-run commercial bank in China. The property right institution reform of the state-run commercial bank is quite a complicated system engineering, the core of which is to reform a series of system arrangements in conformity with the property right institution of state-owned proprietorship into the system arrangement in conformity with property right pluralism (including private property right). In this sense, the corporationized reform is not only the goal but also the means of the state-run commercial bank reform and the most important is to set up a new institution framework through the corporationized transformation. The objective of the corporationized transformation of the state-run commercial bank, a special kind of ecterprise, should be to set up an effective corporate governance structure under the framework of contemporary ecterprise system. The corporationized commercial bank is the primary form in the western commercial bank system and it has already formed a comparatively perfect institution system after centuries of development. Among the corporationized commercial bank in the world, the American and Japanese ones are the most important representatives in the aspects of the property right institution and governance mode. The main characteristic of the commercial bank in the U.S.A. is that individual shareholding and institutional investors shareholding cover the majority. The stock right structure is quite loose, for even the share held by the big stakeholders only accounts for 1% of the total capital stock ofthe bank and these big shareholders are mainly various kinds of institutional investors, like pension fund, life insurance, mutual fund, etc.. The main characteristic of the commercial bank in Japan is the relatively centralized-type stock right structure. In the same group in Japan, the commercial bank and the industrial corporation hold each other's share and the stock right structure is comparatively close and the stock right is quite concentrated. The mutual shareholding between the bank and the corporation has strengthened their relation, which makes them depend on and restrict each other. In conformity with the property right institution, the corporate governance structure of commercial banks in U.S.A. and Japan are different. The corporate governance structure in American bank belongs to the market-oriented type, which realizes the control and supervise on bank operators via the flow form of stock right, like vote, adapter and annexing, etc. and the flow form of creditor's rights, like bankruptcy and liquidation, etc.. The ecouragement and supervision mechansim for bank directors, the president and senior administrators of the bank relies on the external market. the relationship type of corporate governance structure in Japanese banks with the inside people's supervision as the main part means that the supervision, decision and the implementation all come from the inside and the big shareholders play their roles throught the corporate governance structure. Such kind of corporate governance structure suits with the relatively centralized type of stock right structure. Some big legal person organizations and financial institutions hold a large proportion of the shares of the bank, and these big shareholders are often depositors of the bank, so such kind of stock right pattern makes it possible for the inside people to control the manager stratum. The difference of the property right institution and the corporate governance of the commercial banks in the U.S.A. and Japan shows that during the preperty right institution reform, the state-run commercial bank in China will be faced with the mode and the route selection. Corporate governance mode is directly related to the corporate ownership structure, soduring the corporationized transformation of the state-run commercial bank, it is more important to decide what kind of ownership structure of bank to form and which kind of corporate governance mode to choose. First of all is to choose the corporate governance mode for the state-run commercial bank. The actual situation of the commercial bank in China is that its external supervision mechanism is imperfect and the market economic system with free competition needs to be improved progressively, so it is necessary for the big shareholders to play an important role in the corporate governance structure. Therefore, China should choose the inside control-type of corporate governance mode for the commercial bank. meanwhile, China should also improve the external supervision mechanism constantly, thus to form the mixed corporate governance mode combining the inside control with outside control together finally. Secondly, the corporationized reform of the state-run commercial bank should go on by stages. On the initial stage of the reform, the state-owned shares should occupy the holding position, and the legal person's share and the share held by the organizations should cover the majority of the rest, while the scattered individual's share should take the minority. With the gradual improvement of the external supervision mechanism and the internal corporate governance structure of the commercial bank in China, the final objective of the state-run commercial bank is to give up the holding status of state-owned shares and to make the institutional investors and the legal person play an active role in the corporate governance, while the state, as an ordinary shareholder, just shares the profit of the bank. The third is to perfect the corporate governance structure of the commercial bank. China should set up the corporate governance mode with the inside legal person's control as the main part, especially emphasize the functions of the board of directors and the board of supervisors, foster and strengthen the role of big shareholders in the board of directors, strengthen the independence of the board of directors and reduce the inside people control phenomenon caused by the state-owned shares occupying the controlling...