| Finance is the core of a country’s economic, and as one of the important department of modern financial system, bank has been widely attention. Especially in recent years, as the financial product innovation and deregulation, increased competition in the global banking industry, each bank improve their management lever in order to increase market share and enhance their own profit. But at the same time, the competition erodes market forces and the monopoly profits, so banks may more tend to increase the risk taking, banks and the entire banking face greater risk. The increasing of bank risk is likely to lead to the closure of the bank, as a special industry, bank failures may cause other banking problems, in other words, bank failures have a domino effect. Bank failures would make the whole banking system in danger, and impact the production department in the economic, causing shrinkage of operation. Therefore, the study risk-taking of banks is very necessary.In recent years, with the U.S. subprime mortgage crisis become financial crisis across the global, some phenomenon of global bank such as mergers and reorganization, the government taking over and bankruptcy appeared frequently. The problem of bank risk taking again becomes the focus of the domestic and foreign theorists, practice and the government departments. At home and abroad, the empirical research of bank risk taking mostly investigate from the macroscopic level, and from the micro level, especially from the banks corporate governance research are more less. In addition, foreign scholars studied the bank risk taking from very early beginning, and our country in recent years begun to research the problem of corporate governance of commercial bank, and researches of bank risk taking are more less. This article, from the perspective of corporate governance, the reference for the classical and frontier theoretical study to study bank risk taking problem, and tries to explore the underlying principle of risk taking of commercial bank, and finally find out the suitable regulatory governance for China’s commercial bank, so as to enhance the international competitiveness, promote the development of China’s commercial bank more efficient, healthy and orderly, and face the new challenge of the global economy.This paper argues that, perfect bank corporate governance is the premise and basis to realize the bank risk management. So it can effectively improve the system environment of credit risk, eventually greatly lower the credit risk level of commercial bank through the establishment of a scientific governance structure and governance mechanism of commercial bank. Because compared with the general enterprise, China’s commercial bank have great particularity in the management goal, business types, financing structure and appoint agent relationship and so on, and let China’s commercial bank ability that guard against the overall risk in the control process is limited. With the overall analysis about governance mechanism’s possible effects on bank risk of China’s commercial bank, this paper puts forward, perfect commercial banks internal and external governance mechanism, optimize equity structure, and gradually realize the government relatively dominant mode; actively introduce foreign strategic investors, improve the equity structure; improve the governance function of the board of directors and the board of supervisors, and exert their regulatory functions; establish an effective incentive and restraint mechanisms, and realize the balance of the efficiency and the counterbalance; improve the information disclosure system and strengthen market restraint function; perfect financial legislation and build a financial legal system to meet the requirement of market economy.This paper mainly divided into five parts, the first part is the introduction, this part introduces the research background and significance, the review and analysis of previous research achievements and the innovation points and insufficient of this article. The economic globalization accelerates the competition of commercial bank, and improving the company governance is a common topic that all enterprises face, Its significance lies in effectively improving the governance lever and performance of listed commercial banks through optimizing the governance mechanism and environment. This is the basic background of the research of commercial bank’s corporate governance.The second part is mainly to present the concept and theory of corporate governance and risk taking. First of all, analyze the concept of corporate governance. Through the comparative analysis between the traditional theory that emphasize shareholders’interests first and the stakeholders theory that emphasize shareholders and stakeholders, apply the concept of whole interests, and conclude that the corporate governance of commercial bank is a series of organizational framework and the system arrangement about the commercial banks internal and external stakeholders, and is the effective combination of internal and external governance mechanism. Its essence is through a series of institutional mechanism in order to achieve a power balance among the commercial bank internal shareholder, board of directors, the board of supervisors, senior management and external stakeholders. Then, it elaborates the theoretical basis of corporate governance of commercial bank. And find out that the corporate governance of commercial bank must attach great importance to the company governance goal, internal governance mechanism, and external governance mechanism. It points out that commercial bank has different from other general enterprise in the capital structure, the bank transaction and product and the particularity of the banking industry.The third part is mainly about the theoretical analysis and assumptions that put forward of corporate governance’s influence on commercial bank risk taking. This chapter separately from internal governance mechanism and external governance mechanism of the commercial bank analyze the influence between current corporate governance and commercial bank risk-taking. This paper mainly analyze four aspects in the internal governance mechanism, such as the ownership structure, the size of the board of directors, the independent directors and the size of board of supervisors, and three aspects in external governance mechanism, including the capital adequacy ratio, deposit insurance system and franchise value. Since reforming of the stock market in2005, commercial bank have already been set up perfect internal governance mechanism, but the shareholders’committee didn’t play its role, the board of directors and the board of supervisors does not play a significant role and lack of long-term incentives to senior management. These phenomenons become the main barrier of the establishment of commercial bank’s internal governance mechanism. Also, in the external governance mechanism current bank supervision system embodies the characteristic that the strict internal and weakening external supervision, at the same time there would need to be perfect in the legal system, bank information disclosure, supervision of regulators and coordinate system of regulation system.The fourth part is mainly to complete empirical test and get the corresponding results of the study by the governance data of14listed banks in2005to2010.The fifth part is research conclusion and policy suggestions. According to the comprehensive analysis of this paper, puts forward six suggestions:optimize stock ownership structure, gradually realize the government relatively dominant mode; actively introduce foreign strategic investors, improve the equity structure; improve the governance function of the board of directors and the board of supervisors; establish an effective incentive and restraint mechanisms, and realize the balance of the efficiency and the counterbalance; improve the information disclosure system and strengthen market restraint function; perfect financial legislation and build a financial legal system to meet the requirement of market economy. |
PDF Full Text Request