Indexes Of County Construction Land,Industrial Structure And Operation Performance Of Rural Commercial Banks

Since the State Council issued the "Pilot Plan for Deepening the Reform of Rural Credit Cooperatives" in 2003,the business performance of rural commercial banks has been greatly improved,which is of great significance for rural commercial banks to fulfill their mission of supporting rural areas and maintain their own sustainable business development.However,although the reform has achieved a certain effect,there are still problems in the management system,operation management,product and service innovation ability of rural commercial banks in various regions.One of the important reasons is that the spatial pattern and regional differences of the development of rural commercial banks have not been fully considered.In the context of the rural revitalization strategy,exploring the regional differences in the operation performance of rural commercial banks not only helps rural commercial banks to carry out business and set up site selection according to local conditions from the actual situation,but also has important reference value for improving financial policies with local characteristics.Many scholars have explained the regional differences in the operation performance of rural commercial banks from the perspectives of different regional economic development,regional financial market structure and market competition environment.However,few scholars have paid attention to the influence of land policy tools of macro-control on it.In fact,the construction land index as the basis of land use planning,not only affects the supply of construction land and structure,promote the structure in the direction of industrialization,the urbanization development of county economy,optimize the industrial structure,drive economic growth,to create a good macro environment for bank,can also set up industrial park,attract small micro enterprises investment,small micro enterprise loan business to agri-businesses extension.The policies of construction land indicators in different regions are different,which can explain the regional differences in the operation performance of rural and commercial banks to a certain extent,and supplement the research perspective and scope of existing literature.In view of this,this paper takes the balance panel data of 43 rural commercial banks in Jiangsu Province from 2011 to 2018 as the research sample to empirically analyze the impact of construction land index at the county level on the operating performance of rural commercial banks and explore the mechanism.In the benchmark regression model,the fixed effect model is used to empirically analyze the influence of the county construction land index and different types of sub-indexes on the business performance of rural commercial banks.In consideration of the possible heteroscedasticity,clustering robust standard error was used to correct the regression results after each regression.In order to enhance the reliability of the conclusion,this paper uses variable substitution method to conduct robustness test,and uses instrumental variable method and variable lag period to conduct endogeneity test.In the part of regional heterogeneity analysis,this paper divides Jiangsu Province into three parts: southern Jiangsu Province,middle Jiangsu Province and northern Jiangsu Province,and conducts regression analysis respectively,in order to understand whether there are differences in the impact of county construction land indicators on the operating performance of rural commercial banks in different regions.In the mechanism analysis part,using the mediating effect model of Wen Zhonglin and Ye Baojuan for reference,the stepwise regression method is used to analyze.On this basis,Bootstrap test was used for verification.The results show that the indicators of county construction land have a significant positive impact on the business performance of rural commercial banks.The more the indicators of county construction land,the better the business performance of rural commercial banks.Different types of construction land indicators have different impacts on the operating performance of rural commercial banks.Specifically,housing land indicators and industrial and mining warehousing land indicators have a significant positive impact on the operating performance of rural commercial banks,while transportation land indicators have no significant impact.The regional heterogeneity analysis shows that the county construction land index has no significant impact on the operating performance of rural commercial banks in southern and central Jiangsu,but has a significant impact on northern Jiangsu.Further research shows that the construction land index at the county level improves the operation performance of rural commercial banks by promoting the development of the secondary industry,and the secondary industry plays a complete intermediary role.The conclusion of this study is not only helpful to understand the impact of land policy tools of macro-control on financial institutions,but also can provide reference for local governments to optimize industrial structure by allocating construction land indicators differently from the supply side.Finally,according to the research conclusions,this paper gets three inspirations:First,rural financial institutions should rely on policy guidance,rationally allocate the flow of credit capital and carry out business in accordance with local conditions.Second,by initiating the establishment of village and town banks,etc.,batch cultivation of micro-financial institutions extending their service tentacles to towns and villages can realize cross-regional operation.For rural commercial banks that have implemented cross-district operation,they can appropriately refer to the supply plan of state-owned construction land at the county level,guide the credit funds to the areas supported by policies,and carry out diversified business operations according to local conditions to disperse risks and reduce the non-performing loan ratio.Third,for different resource endowments and main function areas,local governments can implement differentiated allocation of total supply and structure of construction land,adjust the industrial structure at the county level,and make it more efficient and reasonable,so as to optimize the industrial structure and realize efficient utilization of land resources.