Stock Reform Of State-owned Commercial Banks, Corporate Governance Research

Corporate governance is a multi-angle and multi-level concept. Different path dependences generated different corporate governance models. Based on the difference of shareholders, the paper roughly categorized the major corporate governance of foreign commercial banks into two models, namely "American-English model" and "German-Japanese model". Through their comparison and analysis, the paper attempted to find out the development trend of the international corporate governance of banks and put forward the big challenge facing the reform of China's banking industry. The concern of corporate governance of banks is now transferring from traditional principal-agent relationship between the owner and manager after the separation of ownership and control to the present core competence of commercial banks.The paper consists of five chapters: Chapter 1 analyzed in general the concept of corporate governance, its background, the specific background and tasks of implementing corporate governance in China. Chapter 2 analyzed the particularity of the corporate governance of commercial banks, elaborated the basic differences of corporate governance between enterprises and banks, discussed the relationship between various ownership models and efficiency of bank holding companies and summarized the essence of debates on relationship of ownership and efficiency. Chapter 3 presented the representative foreign theories and practices of corporate governance of commercial banks and explained why there is no perfect governance mechanism through the comparison of international corporate governances of commercial banks. Chapter 4 presented the development of commercial banks in China and their practice of corporate governance in the background of institutional transformation, pointed out the disparity of the corporate governance of commercial banks in China comparing with those of the developed countries. Chapter 5 discussed different points of views on corporate governance, justified that the core of corporate governance of state-owned commercial banks is to improve their core competence and proposed relevant countermeasures.