| As one of the major financial institutions, the banks’ efficient and rapid development is the core of the financial market. Since the1990s, as the global economy’s sustainable development, the business environment of banks is constantly changing. It not only brings a more complex environment which full of risks, but also provides favorable conditions for improve the management, innovative products and expanding business. However, in2007, the financial crisis triggered by the subprime mortgage crisis of U.S. brought huge impact to China’s financial market. Of course, China’s banks ware affected inevitably. Now, China’s financial market is facing interest rate liberalization, the mechanics of exchange rate, and the establishment of deposit insurance system and the improvement of the market withdrawal mechanism, banks’ operating environment will be more complex and more challenging. Under the environment of slow downed economic, interest rate liberalization and the development of the Internet financial, banks will be difficult to sustain high growth mode.In addition, defect management, technological backwardness and loopholes in the system and so on lead to the low efficiency of banks. With the fully opening of China’s banking and insurance, banks’operating environment are constantly changing, increasing competition, market demand for more diverse, which is the efficiency of commercial banks put forward higher requirements. Therefore, it has great significance for China’s banks to study the efficiency of China’ banks on banks to respond to competitive challenges and to resist risks, improve business performance and achieve greater benefits.In recent years, research on the efficiency of banks is a hot topic among the financial sector and academia, and lots of valuable results obtained. This paper attempt to expand in the following two aspects on the basis of previous studies: Firstly, regard the non-performing loans as a "bad" output of banks when measure the efficiency of banks, and learn Luptacik and Korhonen treatment of negative output, regard the non-performing loans as investment, and hope non-performing loans as less as possible. Secondly, use Four-stage DEA method proposed by Fried to measure bank efficiency, thereby reducing errors affecting the environment variable measure of the efficiency of banks caused; take advantage of the DEA method based on Bootstrap, Wilson further random effects and impact on banks proposed by Simar efficiency measurement error caused by the correction, so that the results of bank efficiency measure as accurate as possible.This paper use Four-stage DEA-Bootstrap model to measure the efficiency of banks, and thus analyze the factors affecting the efficiency of banks. Specific methods for this paper is using12listed China banks’ data from2007to2012, non-performing loans affect the value of efficiency, DEAP2.1and Stata12.0software and Four-stage DEA model to adjust sample banks to the same environmental conditions as far as possible. Then using R software and Bootstrap method tocorrect the efficiency, and bringing them closer to the true level, and ultimately get the Technical efficiency, Pure Technical efficiency and Scale efficiency of12sample banks in the six years. On this basis, using Tobit regression model, Technical efficiency and Pure technical efficiency corrected by Bootstrap method used as the dependent variable, to research the factors affecting the efficiency of banks. The conclusion of this paper is:(1) From the measurement results of the Four-stage DEA model, we can find that the efficiency of banks adjusted by the Four-stage DEA and Bootstrap model is more in line with the theory and practice, and all fall within the95%confidence interval.(2) From the results of the second phase of environmental factors, we can find that the number of branches of banks into the impact of redundant elements to be positive, which indicates that the branches of China’s banks expanding anomaly. This leading too large range of banks’management, idle factor inputs, thereby enabling the management costs of commercial banks increased, and performance declined. The redundancy factor affecting the market share of commercial banks is negative, indicating a larger market share and more to help commercial banks have the ability to dominate the market, which will help improve operational efficiency. (3) Overall, the value of efficiency of banks is rising, the efficiency gap between state-owned banks and joint-stock banks showing convergence trend, and shows that more and more small gap between the two. Especially in the second phase of the Four-stage DEA Tobit regression showed no significant ownership structure, and also shows the applicability of state-owned banks to classify the shares of banks and weakening.(4) Ranking situation, operational efficiency Industrial Bank, China Merchants Bank and Shanghai Pudong Development Bank is relatively best and operational efficiency Huaxia Bank, Agricultural Bank and China Everbright Bank is the worst.(5) From the results of Tobit regression model, we can find that deposit ratio, asset expense ratio, return on assets and operating expense ratio is an important factor affecting the technical efficiency of Chinese commercial banks, where the coefficients deposit ratio and return on assets for positive coefficient asset expense ratio and operating expense ratio is negative. In other words, the commercial banks should its allocation of resources, innovation, operations, profitability and corporate governance in these areas to enhance improved and perfected. |
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