| Study Meanings From the perspective of the generation and development of market -oriented economy, finance is the key of the modern economy. Commercial banks, as the main capital distribution organization in the economic activity, are the most important composition in the financial system in our country. Therefore, not only does the efficiency of China commercial banks affect allocation of finance resources, but also affect the healthy and quick development of China economy. Then, how to measure the efficiency of China commercial banks? Which factors could determine the efficiency value? How to improve the efficiency of China commercial banks? These questions are worth being deeply discussed. In recent years, China banking industry dedicated to reform practice. The joint-stock commercial banks arised, while most traditional state-owned commercial banks undertook property right reform, absorbed the strategic investor and became public corporate. The reform took great changes, especially the change of efficiency, to China banking industry. So in this dissertation, the author studies the efficiency of China commercial banks and its affecting factors, lays emphasis on the relation between property right and bank efficiency, and tries to find the strategy to improve the efficiency of China commercial banks. It will has important theoretical meaning and realistic meaning to deepen property right reform of state-owned commercial banks, reinforce corporate governance and establish modern finance firm system.Study Methods Based on the theory of property right structure, the author applies the methods of combination of qualitative and quantitative analysis, empirical and normative analysis. As to the analytic tools, the Cross-evaluation DEA, which modifies the classical Data Envelopment Analysis method, is used into the measurement of the value of China commercial banks' efficiency. This is a significant innovation of the analytic tool. Furthermore, the econometric regression analysis is applied into the study of the affecting factors of the commercial banks' efficiency. And the author gets the conclusion with the inductive methods. In the thesis, the logic relation between the analytic tool and theoretic research is clear, and the two are well met. The results of the empirical analysis could match the reform practice of China commercial banks. In addition, the analytic perspective in the thesis is unique. All the data in the empirical analysis are computed independently according to the specific computation and econometric analysis method.Main Contents Firstly, the author analyzes the basic meaning of bank efficiency and elaborated the basic tools of bank efficiency evaluation. The advantages and disadvantages of the parametric method and non-parametric method are explained with reviewing the domestic and foreign study of commercial banks' efficiency. The thesis pays attention to the application of the traditional DEA method in the study of bank efficiency measurement, and analyses the insufficiencies of the former researches. Based on the existed study, the author establishes the research framework and new method of this dissertation, and analyzes the improvement of the new tool with comparing it with the former.Secondly, the thesis systematically analyzes the efficiency of China commercial banks on the basis of the cross-evaluation Data Envelopment Analysis (DEA) method and econometrics method, and lays stress on the comparison of the efficiency difference between state-owned commercial banks and other newly founded commercial banks. Based on the results, the author tries to find the affecting factors of bank efficiency and indicate the significant influence of property right structure. Aim at the fault of the current DEA methods, the author integrates the current research achievements, chooses the samples of four state-owned commercial banks and ten joint-stock banks, establishes reasonableevaluation index system and measures the efficiency of China commercial banks from 2003 to 2005 with the method of cross-evaluation DEA. This method avoids the faults of traditional DEA , and produces the efficiency values which are more reasonable for the current status of China bankingsector. After comparing the change of bank efficiency of commercial banks from 2003 to 2005, we find domestic commercial bank efficiency is in gradually improvement. After analyzing the differences among all commercial bank efficiency, it is concluded that the efficiency of four big banks is lower than that of newly founded commercial banks.Then, the author analyzes the affecting factors of commercial bank efficiency of our country from the macroscopic and microscopic layers. The direction, method, mechanism of the affecting factors on commercial bank efficiency are studied with the relative theories of modern economics and finance, which contribute to the theoretic foundation for a quantitative analysis.After that, the econometrics model is put forward. Utilizing the receivable sample data, we regress the cross-evaluation efficiency values on the factors such as the ratio between interest revenue and loan quantity, human capital quality, loan quality, market share, card business amount, the property right structure. The regressive results show that the above variables, which can not be brought into input and output index of DEA model, affect the bank efficiency in different degrees. Particularly, as a dummy variable on state-owned commercial banks, the structure of property right has changed with the property right reform. So the quantitative analysis well explains the effect of property right structure on commercial banks' efficiency. Based on the quantitative researches, the author puts forward the main approaches which can improve the efficiency of China commercial banks. Following the mentioned above, the author states the theoretic logic and practice choice of China banking sector and explains the status and effects of property right in the reform process. The relation among the structure of property right, market structure and banking performance is analyzed in order to find the clues of state-owned commercial bank reform. Through introducing existing theories about that and combining macroeconomic environment with the own characters of China commercial banks, the author shows that the reform path of China commercial banks has the theoretic logic rationality. Furthermore, based on analyzing the internal reasons and external environment factors of state-owned commercial banks' property right reform, the author puts forward the necessity of the reform from property right perspective and states the the goal, clues and paths of further reform of the state-owned commercial banks. From the theoretic logic, it is concluded that the reform should pay attention to the change of property right structure, which can leads to the joint-stock bank, public corporate and forming multi-level constraint and encouragement mechanism in the internal and external sides.In the last chapter, the author analyzes the new challenges which the stated-owned commercial banks face after they have undertaken the joint-stock reform. Some suggestions are put forward to improve their efficiency, such as optimizing property right, reinforcinge the cooperation with strategy investors, mixing banking, security and insurance business, upbuilding scientific and efficient organization framework, pushing strategy transition and establishing favorable finance entironment.Finally, the author summarizes the characteristics and insufficiencies of the thesis and suggests the application direction in the practice. Main Achievements1) Applying the Cross-evaluation DEA to measure the efficiency of China commercial banks. The results show that the efficiency of newly founded joint-stock commercial banks exceeds that of state-owned commercial banks. But for the state-owned commercial banks, the efficiency increases greatly after they have undertaken property right reform, which illuminates that the property structure has significant effects on bank efficiency.2) Through re-defining the input and output variables of commercial banks, the author establishes the input and output evaluation index system. Particularly, intermediary business revenue is introduced to the output index, which shows the strategy transition direction of China commercial banks. It provides more comprehensive information for the status of bank efficiency.3) Applying the econometrics method, the author analyzes the influential factors of commercial banks' efficiency. The regression results indicates the effects of the factors, such as the ratio between interest revenue and loan quantity, human capital quality, loan quality, market share, card business amount and the property right structure. Especially, we lay emphasis on the property right structure and finds that it has remarkable effects on bank efficiency. This provides new idea for further reform of commercial banks.4) Through releasing the inner relation among the property right structure, market structure and banking efficiency, the author states the reform paths of China commercial banks from the theoretic perspective and analyzes the paths of China commercial banks in the practical choices. So the necessity of property right reform of the state-owned commercial banks is well explained.5) Involving with the current status of property right reform of the state-owned commercial banks, the author analyzes the new challenges of China state-owned commercial banks after the joint-stock reform and states the direction of the further reform from the aspects of building multiple property right structure with reducing state-owned share, completing corporate governance structure and matrix-shape management frame, enforcing the strategy transition and so on.
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