摘要
本文以2000—2012年16家上市银行为样本,实证分析了特许权价值、公司治理及其交互作用对银行稳健性的影响。研究结果表明:特许权价值存在自律效应;第一大股东性质和持股比例对银行稳健性没有显著影响,前十大股东的持股比例对银行稳健性有显著影响;董事会的监督管理能提高银行稳健性,而独立董事并没有起到应有的监督管理作用;高管持股能够增强银行稳健性,而高管薪酬却没有激励作用;银行规模和稳健性之间存在正相关关系,这也支持了'大而不倒'的观点;上市银行的杠杆效应没有充分发挥作用;特许权价值与前十大股东的持股比例、高管持股对于银行稳健性的影响起到相互替代作用。
Using a sample of 16 listed banks during 2000 and 2012,this paper empirically tested how franchise value and corporate governance affect bank stability.We find that:franchise value has a significant self-regulatory effect on bank stability;the character and shareholding proportion of the largest shareholder don't have a significant effect on bank stability,the top ten shareholders have a significant effect on bank stability;supervision and management of bank board can improve bank stability,while independent directors don't play its role in supervision and management;Senior managerial ownership can improve bank stability,while senior managerial salary can't;too big to fail;leverage effect of Chinese listed commercial banks hasn't been fully used;The franchise value,the top ten shareholders,senior managerial ownership play alternative role for bank stability.
出处
《会计与控制评论》
2013年第1期76-93,共18页
Review of Accounting and Control
