| Since the reform and opening up 30 years, our country's financial system has had the profound change, the commercial banking system also changed markedly. In the 1980 s, the central bank, from the commercial Banks independently functions. In the 1990 s, the joint-stock commercial Banks, three policy Banks, the Agricultural Development Bank of China, China development bank and the Export-import Bank of China was founded, the policy of state-owned Banks business gradually separate, and comparability of the joint-stock Banks gradually enhanced. Was promulgated in 1995, the People's Bank of China "and" commercial bank law ", the big four state-owned Banks is defined as a commercial bank. In 1998, the central fiscal 270 billion special bonds introduction great complement the four major state-owned commercial Banks' capital,1999-2000, and has set up four asset management companies (China Great Wall asset management corporation, China cinda asset management corporation, China huarong asset management corporation and China Orient asset m anagement corporation) is used for stripping the big four state-owned commercial Banks non-performing assets, the amount of bad assets stripping reached 1.3939 trillion yuan. Huijin company from 2003 to 2005, as the Bank of China and China construction bank $45 billion, started the second round of the state-owned commercial bank bad assets stripping. In January 2004 to April 2005, Industrial and Commercial Bank of China, China Construction Bank and Bank of China has completed financial reorganization and shareholding system reform. To 2010, the four dominant Banks in our country banking complete listing, its stability and security to obtain the very good ascension, but also for the prosperity and stability of China's banking industry.There is no doubt that China's banking industry under the leading of the government conducted fruitful reform. Establish and perfect the supervision mechanism of power and responsibility clear, formed by state-owned commercial Banks as the main body, auxiliary joint-stock commercial Banks and city commercial behavior, the new pattern of other kinds of financial institutions as a supplement. China's banking sector has also established corporate governance structure, at the same time, the Industrial and Commercial Bank of China, China Construction Bank and Bank of China market value into the world's top ten.With the gradual financial liberalization, the economic globalization and the implementation of the Basel agreement, China's commercial Banks while achieved great progress and development, more and more foreign Banks to enter the Chinese market, China's banking sector in the financial markets changed. From the first allowed to enter the Chinese market nine foreign capital legal person bank to December 2014, foreign Banks have 41 were set up in our country foreign capital legal person bank,97 foreign bank branches, amount to thousands of commercial institutions.In the fierce market competition, the total factor productivity of Chinese commercial Banks not only influence the development of its own, more about the development of China's banking industry, which is about the sustainable development of the real economy in our country, to say the total factor productivity of ascension is the current commercial Banks face the competition of foreign Banks at the same time maintain the critical path of the sustainable development of China's financial industry, in view of this, the productivity of our country commercial bank effective measure and evaluation, also found that the gap with foreign Banks then targeted improve quite a practical research significance. In this paper, the commercial Banks to the calculation of total factor productivity and the level of research to determine the efficiency of banking regulators provide information, but also for our country commercial bank reform and transformation to provide theoretical and empirical information, to find a way for the reform of commercial Banks in China, a clear direction of the transformation of China's commercial Banks, make up the short board to enhance the total factor productivity, as the strong support of economic development in our country, the prosperity of the power of the real economy.Based on Chinese Banks and foreign capital legal person bank, foreign capital bank in China overseas parent company three Banks in 2008-2014 panel data using DEAP2.1 and Frontier4.1 software, based on the mature stage of three measuring Malmquist DEA method, total factor productivity index to evaluate the efficiency of banking industry in China, with foreign Banks of efficiency level and horizontal comparison. From the macroscopic level, this article studies in the evaluation of the reform of existing results, explore the method of the next step of reform has certain reference significance. From the micro level, the commercial bank individual total factor productivity is calculated and compared, the gap can be found that the efficiency of the Banks, to explore the reason of low efficiency, which helps the Banks to realize their own gap, which targeted the improvement and optimization of the implementation of business strategy, to raise their level of efficiency, enhance its market competitiveness.In this paper, the structure of the arrangement is as follows:The first part is the introduction. This article introduces the research background, purpose and significance of the paper form in this paper, the first thought of writing, and then through the introduction of the research thought and framework of this paper and the research methods and innovation of this article, in this paper, the logic of perfect system, clear the order. This article mainly USES the research methods are:literature study method, theoretical interpretation method, empirical analysis and comparative analysis. This article innovation lies in: more comprehensive research level, Angle, using the research method is more advanced and accurate.The second part is concept definition and literature review. First of all, this paper introduces the definition of the concept of efficiency and then introduces the classification of commercial bank efficiency, including:scale efficiency, scope efficiency, X efficiency and total factor productivity. The detailed explanation of various kinds of efficiency, and combed the related theory of development of the research of efficiency of commercial Banks, in turn, has experienced:the efficiency of the Malmquist theory, the efficiency of the classical economics theory, marginal efficiency theory, innovation theory and welfare economics theory of efficiency. Then on the commercial bank efficiency calculation method is discussed in this paper, the main method of commercial bank efficiency measurement divided into two categories:parametric and nonparametric method. Parametric method including stochastic frontier approach (SFA), distribution free approach (DFA) and thick frontier approach (TFA), and SFA using the most common. Parametric method need to determine the calculation efficiency of the bank should be first frontier cost function, and each parameter estimation in the function, so as to calculate the minimum cost and actual cost ratio, to measure the efficiency of Banks. Nonparametric method including the data envelopment analysis (DEA) and free disposal hull (FDH). DEA using the principle of linear programming, setting up the index of input-output indexes of bank, and carries on the analysis to evaluate the efficiency of the sample Banks. Three stages of DEA method, this paper will be used in the first and third stage to the DEA method of nonparametric method, in the second stage USES the SFA method in parameter method. So the three-stage DEA method is a kind of fusion parameters and the method of nonparametric method.Literature review of the commercial bank efficiency measure of foreign and domestic research achievements were summarized. And will be used for this article illustrates the related research of the three-stage DEA method, including the traditional DEA method and two-stage DEA method research were reviewed, advantages of the three-stage DEA method and the use of the existing three stage research review of DEA method.The third part is the detail of the three stage DEA method and the model is derived and the index decomposition. The first phase is about the initial efficiency of using traditional DEA model analysis. The traditional DEA model includes the CCR model and BCC model two kinds, two models within each allotted investment orientation model and output oriented model two kinds. In this paper, the various models are introduced respectively. The second stage of the main goal is to use SFA return, will be the first phase of the slack variable to return environment variables and hybrid error term. The third stage use after adjusting for the second phase of rerunning the efficiency value measured data. This paper estimates the efficiency value of Malmquist index, Malmquist index, namely the Total Factor Productivity (Total Factor the Productivity, TFP) index, said the growth rate of Total Factor Productivity, papers on the composition and decomposition of index in this section has also done a derivation and description.The fourth part is the empirical part of this article. First introduced the selection of input and output index method, and determine the input and output indicators. Mentioned above of the first stage of the three-stage DEA method to measure Malmquist index, and the commercial Banks in China, foreign capital legal person bank and foreign bank efficiency of the foreign parent company results from many angles of comparative analysis, this paper use MaxDea Pro 6.4 2.1 software and Deap software, measuring the three Banks Malmquist index and its decomposition results). Then on to the second stage of data processing, the selection:gross domestic product (GDP), set up fixed number of year and Banks nature (whether state-owned) as environment variables. Calculates the third stage, then eliminate the influence of environment and the random error total factor productivity (this article USES Frontier4.1 software implementation SFA regression), and compared with the results from the first stage of DEA analysis, studying the effect of environmental factors on the Banks, more objective and accurate measure of the efficiency of commercial Banks in China.The fifth part is the related conclusion and get enlightenment.According to the empirical results in this paper, the related conclusion are as follows:First, the technology is to improve and promote the growth of our country commercial bank main motivation and determinants of total factor productivity growth.Second, the state-owned commercial Banks exist scale efficiency advantages, but at the same time facing technical level disadvantage.Third, for joint-stock commercial Banks, the scale efficiency to improve space is large, is one of the important starting point to raise its efficiency.On the basis of the above research conclusion, this paper gets the following enlightenment:First, continue to deepen the reform of state-owned Banks, vigorously promote the marketization.Second, enhance the level of technology, to promote our country commercial bank innovation level.Third, build the monopoly competition market environment, but can not be one-sided view of the monopoly of state-owned Banks.Fourth, encourage the development of foreign Banks, the realization of complementary and mutually beneficial.In this paper, further research direction is:First, the environment variable selection should have a more scientific method, it is need further research.Second, the paper further research direction can be analysis the factors that influence efficiency of commercial Banks, reveals the intrinsic factors influencing the total factor productivity change of commercial bank.Third, the appropriate environment variables selection, the foreign capital bank data is also the second and third stage more accurate processing and measure.In this paper, the possible innovation lies in:First, the traditional measure of commercial bank efficiency research rarely considering foreign data, the lack of Chinese and foreign comparative analysis, this paper make up the vacancy of this part.Second, the use of relatively mature and advanced three-stage DEA method, implements a more accurate measure for the efficiency of Chinese commercial Banks.Third, three-stage DEA method is used for the previous empirical studies, for the second phase of data processing in this paper tend to be brief. But in this part of strengthening, I improve the theoretical basis and detailed expounds the whole process of the second stage.Fourth, select after the full liberalization of China's banking sector by the 2006 data, the data during the study period of 2008-2014, to avoid the data selection of inter-temporal and improves the efficiency of the empirical analysis.The lack of this paper lies in:First, the selection of sample can be further enriched.Second, the efficiency of commercial Banks in China because of this article focused on the calculation, so the study of foreign Banks only to the first stage.All in all, this paper mainly on the total factor productivity of commercial Banks and its decomposition the tentative analysis and comparison, the purpose is to predecessor's research results and the actual operating conditions of commercial Banks in China since 2008, and with the major foreign legal person bank and foreign bank foreign parent were compared. Given the lack of my working experience and knowledge of the shallow, the existence of one-sided and deficiency, please experts and scholars comment, I will continue to explore in the later work study, keep learning. |
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