Study On The Impact Of Ownership Structure On Credit Behavior Of China's Commercial Banks

In the economic "new normal" stage,to maintain the rapid growth rate of GDP is no longer the goal of China's economic work,while to adjust the economy structure and to promote reform are the new goals of economic work.At the same time,China's economy is also faced with unreasonable structure,uneven development of the industry and other issues,therefore there is an urgent need to improve the supply side of the environment,to optimize the supply side mechanism through the supply side reform,to stimulate the micro-economic vitality and to enhance the China's long-term sustainable economic development.Under these circumstances,the relationship between credit behavior of commercial banks and macroeconomics and monetary policy,the impact of credit lending industry and credit on enterprise concentration and by what means can we ensure that the expected economic structure is achieved through the commercial bank credit channel,these issues are closely related to China's economic supply side structural reform and financial system stability.As the most important part in the operation of commercial banks,credit behavior is the comprehensive embodiment of commercial banks' business objectives and operating policies,and the ownership structure of commercial banks is the basis for determining the business objectives and operating policies of commercial banks.This paper studies the impact of ownership structure on the cyclical characteristics,industry concentration and customer concentration of commercial banks in terms of the nature of equity and the concentration of ownership in the ownership structure of commercial banks,to provide both theoretical and empirical rationales for better macroeconomic supervision and optimal ownership structure of commercial banks.The paper chooses the microscopic data of 41 Chinese commercial banks from 2004 to 2015,through the combination of qualitative analysis and quantitative analysis and the combination of theoretical research and empirical research,studying the relationship between ownership structure and credit behavior of commercial banks.The empirical results suggest the following three aspects:Firstly,the increase in the proportion of state-owned shares in the sample period will enhance the counter-cyclical characteristic of the credit behavior of commercial banks,while the increasing proportion of foreign shares and the largest shareholder have the contrary impacts.Moreover,the increasing proportion of state-owned shares,foreign shares and largest shareholders all will enhance the positive relationship between the monetary policy and credit behavior of commercial banks.Secondly,the increase in proportion of state-owned shares and foreign shares will increase the concentration of credit distribution in industry,on the contrary,ownership concentration will reduce the industry concentration effect of credit behavior on industry.Thirdly,the increase in the proportion of state-owned shares and the foreign shares will increase the concentration of customers in commercial banks' credit distribution,while the concentration of ownership will reduce such concentration effect.Based on the above conclusions,the paper puts forward some suggestions on how to improve the macro-regulation of commercial banks and optimize the ownership structure of commercial banks.