An Empirical Study Of The Equity Structure And Business Performance Of Chinese Listed Banks

In 2008,the global financial market shock caused by the US subprime mortgage crisis has made national financial regulators pay attention to the perfection and supervision of the corporate governance mechanism of banks.With the rapid development of the socialist market economy,China's financial industry plays a decisive role in the growth and adjustment of the national economy.Commercial banks are the core of China's financial industry.Its good business performance is an important guarantee for China's sustainable economic development The The improvement of the performance of the listed banks is largely determined by the perfect corporate governance structure,and the corporate governance structure is fundamental to the governance of the ownership structure.Therefore,the listed bank equity structure and business performance are inextricably linked.This paper studies the rationality of the ownership structure of listed banks in China and how to optimize the ownership structure of listed banks and improve the performance of the banks.It is of great significance to the selection of the ownership structure of listed banks in China.The main contents of this paper are divided into five parts:the first part is the introduction,the background and significance of the research are introduced,and the related research at home and abroad is reviewed and briefly evaluated.At the same time,the research methods and innovation and deficiency are summarized.The second part is about the ownership structure and business performance of the theoretical analysis.Based on the definition of ownership structure and business performance and the theoretical analysis of the relationship between the two,the paper summarizes the related literatures on the ownership structure and performance of listed banks.This paper studies the related concepts and measures of ownership concentration,equity nature and equity circulation,expounds the connotation of business performance and summarizes the commonly used performance evaluation methods.And then analyzes the mechanism of corporate governance to business performance in theory,and briefly expounds the transfer mechanism of ownership structure,corporate governance and business performance,thus laying a theoretical foundation for the empirical analysis of this paper.The third part is the present situation analysis of the ownership structure and performance of listed banks.This paper describes the present situation of the ownership structure of listed banks from the perspective of equity concentration,equity nature and liquidity,and analyzes the current situation of listed banks in China from four aspects:profitability,safety,liquidity and growth.The fourth part is the empirical analysis.Firstly,the data of 16 listed banks in China from 2010 to 2015 are used as the research sample,and the comprehensive performance index is constructed from the four aspects of profitability,safety,liquidity and growth by principal component analysis(Si),the proportion of the top ten shareholders(CR10)and the Z index,the proportion of the state-owned shares(GY),the proportion of the shares held by the top ten shareholders(CR10)and the Z-(FGY),the ratio of foreign legal person shares(JF)and the proportion of outstanding shares(LT)as explanatory variables.Secondly,according to the theoretical analysis proposed hypothesis,and the establishment of regression model.Finally,the author analyzes the relationship between the ownership structure and the comprehensive performance of the bank.The study shows that the relatively centralized ownership structure is most conducive to the improvement of bank performance.The increase of the proportion of state-owned shares is not conducive to the improvement of bank performance.The proportion of non-state-owned legal person shares is positively correlated with the bank performance,but the correlation is not strong.The addition of strategic investors to a certain extent,improve the bank performance;increase in the proportion of outstanding shares is conducive to the improvement of bank performance.The fifth part is the conclusion and policy suggestion:choose the "relative concentration,mutual checks and balances" of the ownership structure,moderately reduce the proportion of state ownership,optimize the behavior of state shareholders,and actively introduce outstanding foreign strategic investors,improve the commercial bank corporate governance mechanism.