The Research On Equity Ownership Structure And Performance Of Listed Banks

Thorough along with the people's deep understanding on the modern financial theories, nowadays the ownership structure becomes a hot research issue in the financial theory fields. Along the way of ownership structureâ†'corporate governanceâ†'company performance, in recent years our country scholars have obtained plenteous results in the positive research on ownership structure and performance. But in numerous researches, we discovered that the scholars seldom involved the banking in the positive research of ownership structure and performance. In these few articles, scholars only used the positive method to analyze effects of the concentration rate of shares on bank performance. But they didn't consider the impacts of the liquid shares on bank performance.However, in our country, as the banking reform becomes deeper and deeper, the corporate governance of banks is also highly attended and has become an important content of the banking reform. But the corporate governance and equity ownership structure have closely inherent connection. Different equity ownership structure will lead to different corporate governance structure, and then affect the bank performance. So researching the commercial bank reform should be begun with the equity ownership structure study. As a result, this text will take the listed bank as the research object, and analyze the influences of equity ownership structure on bank performance from two sides, which are the concentration rate of shares and liquid shares. Also it provides some suggestions for the current bank equity ownership reform. This has the theoretical and realistic meaning in our country.This text selects banks listed on the Shanghai and Shenzhen stock exchange during the period 1999 through 2004, and test effects of the equity ownership structure on bank performance. The result indicates that the concentration rate of shares and bank performance show a remarkable relationship, which presents a reversed U; and along with the liquid shares ratio is higher and higher, the bank performance first goes up but then descends. Through the games of liquid shareholders and non-liquid shareholders, this text discovers non-traded shares have great effect on bank performance. So we must carry out the reform of non-traded shares in the listed banks, and on the basis of the reform we should form the mode of relatively controlling on the stock.