A Study On The Impact Of Ownership Structure Of City Commercial Banks On Operating Performance

City commercial banks have experienced extreme changes in comprehensive strength.They have enriched China's multi-level system of financial institutions and promoted banking competition,which has made great contributions to serving the local economy,small and micro enterprises and residents.However,at the same time,there are also a series of problems in city commercial banks,such as paying more attention to virtual economy,the maturity mismatch and the high leverage.Because city commercial banks were established on the basis of urban credit cooperatives,one of the characteristics of their ownership structure is the support of local governments.As the largest shareholder,local government will control city commercial banks to deal with some administrative tasks,which will make them more difficult to occupy a bigger market,will lead to credit risks with the formation of related loans,then will lead to bad performance.Under the circumstances,it is very significant to work further with the impact of ownership structure on performance.This article firstly determines the ideas and contents based on the research of domestic and foreign scholars.Then according to Corporate Governance Theory,Theory of Asset Management of Commercial Banks,Theory of Performance Evaluation and the current situation of city commercial banks' ownership structure and performance,the paper analyses the impact of ownership structure on performance and the mediating effect of credit behavior.In the empirical part,45 municipal city commercial banks(time from 2009 to 2016)have been chosen as samples.Based on CAMEL evaluation system,Principal Component Analysis is used to draw the comprehensive performance of city commercial firms,as explained variables.Three dimensions of ownership structure(ownership concentration,balance mechanism of shareholding and equity property)are represented as the core explanatory variables.The panel data model is used for regression analysis,which deeply discusses the relationship between ownership structure and city commercial banks' performance.Besides,the intermediary effect test is constructed to analyze the impact of credit behavior(credit scale,related loans,loan concentration and the price of loan).As the results of theoretical and empirical analysis show,ownership concentration and the balance of ownership have a significantly negative impact on the performance of city commercial banks.With the increase of share-holding proportion of local government and local state-owned legal corporation(which is considered as the government' s concerted action),the city commercial banks' integrated operating performance significantly decreased.The ownership structure has a great influence on the scale of loan,related loan and the degree of loan concentration,but has no significant influence on the price of loan.There is an intermediary effect in credit behavior including the volume of credit,related loans and loan concentration.