Research On The Ownership Structure Of Our Listed Commercial Banks

In recent years, ownership reform have been taken place in our commercial banks. Dencentralizing commercial bank equity,encouraging them restructuring and listing,so the ownership structure of our commercial bank emerging new features,The kinds of eguity increased,ownership concentration decreased,more shares in circulation and so on.Equity ownership structure is the basis of the corporate governance,which determines the effectiveness of the corporate governance and the performance of the company to a large extent. Listed commercial banks play an important role in modern economy, so its performance has become a very important and far-reaching issue.There are nine listed bank in our country by the end of 2006,which are Shenzhen Development Bank,Pudong Development Bank,China Minsheng Bank,China Merchants Bank,Huaxia Bank,Bank of Communications,China Construction Bank,China Bank,ICBC.According to these listed banks,we make a study on the ownership structure in this article.In order to verify the relationship between the ownership structure and the performance of our listed commercial bank, an empirical study have been made,according to five joint-stock commercial bank.In order to avoid the defects of traditional methods on performance evaluation,this article used comprehensive performance evaluation by seveal finance indicators through Principal Component Analysis. The indicators of ownership structure used in this article are as followes:L1,CR3,CR5,H3,H5,Z1,Z2,Z3. There are disputes on the relationship bteween ownership structure and the performance in many empirical studies. The appointments in this article are as followes: The stock proportion of the first shareholder has inverse relation with the bank performance,which means decrease the first shareholder stock proportion can improve the performance of our bank;the equity balance indicaters(Z1,Z2,Z3) have direct proportion with the bank performance,which means the balance among stock proportions of the shareholders is effective.As the particularity of the ownership structure in our state-owned bank,which have great different with that of our joint-stock commercial bank,this article takes a separate analysis. According to the analysis and the empirical research,some suggestions are proposed at the end.