The Study Of China Listed Commercial Banks Intellectual Capital Efficiency

Modern enterprises participate in market competition not only by virtue of physical capital such as capital strength and land reserve, however, intangible capital especially intellectual capital has become increasingly important. Enterprise competition is ultimately a competition of talent, technology, brand, culture, organizational structure, and intellectual capital is an important part of the core competitiveness of an enterprises. With the acceleration of China’s economic financialization and financial marketization process, the phenomenon of financial disintermediation of commercial banks, however, is becoming increasingly evident. The original way of indirect financing which was overdependent with banks is changing and the traditional business model of commercial banks which was capital-intensive is being transformed to be knowledge-intensive. Intellectual capital is the consequence of the development of knowledge economy era and the deepening of human capital theory. As for China’s commercial banks, whose business model is in the process of transformation to be knowledge-intensive, the influence of intellectual capital on their operating performance is increasingly significant. Study on commercial bank intellectual capital efficiency is important for improving the operation and management and enhancing competitiveness of commercial banks.This paper firstly introduces intellectual capital, bank efficiency theory, analyzes the definition, content and measurement of bank intellectual capital efficiency, and summarizes the micro and macro factors that affect the efficiency of intellectual capital. By drawing on previous research, conducts possible quantitative definition of input and output of intellectual capital efficiency, and introduces two mainstream measuring method of commercial banks efficiency (Data Envelopment Analysis, DEA for short and Stochastic Frontier Analysis, SFA for short) to prepare for the following empirical test of intellectual capital efficiency. This paper, when doing empirical research, takes into account the input and output index of the risk management to add to the evaluation of intellectual capital efficiency, as commercial banks, the subject for the study of intellectual capital efficiency owns its particularity of industry, are modern service-type enterprises operating business risk. And then selects16commercial banks listed in the stock markets of Shanghai and Shenzhen as the objects of study, with data period spanning from the year2007to2011. The empirical analysis consists of two main parts, first, DEA empirical analysis, by application of DEAP2.1to calculate the score and rank the intellectual capital efficiency of each bank, by sensitivity test and Malmquist index to analyze the micro factors that affect commercial bank intellectual capital efficiency, second, SFA empirical analysis, by first determination of the production function, and then application of Frontier4.1, to calculate the efficiency, and analyzes the macro factors that affect the efficiency and the degree of the effect. Finally, this paper concludes and proposes, policy recommendations.The main structure of this paper is as follows:The first chapter, introduction, introduces the significance of raising and studying the issues, literature review of related theory and studying methods home and abroad.The second chapter summarizes intellectual capital theory, bank efficiency theory, commercial bank intellectual capital efficiency theory, and factors that affect commercial bank intellectual capital efficiency (micro and macro).The third chapter establishes a measurement model for commercial bank intellectual capital efficiency, determines the input and output variables of commercial bank intellectual capital.The fourth chapter is the empirical analysis part, by Data Envelopment Analysis and Stochastic Frontier Analysis to analyze commercial intellectual capital efficiency, and discuss deeply the micro and macro factors that affect commercial bank intellectual capital efficiency.The fifth chapter is the conclusion and policy recommendations, offering proposals for how to improve commercial bank intellectual capital efficiency, and enhance the core competitiveness of commercial banks.