The Ownership Structure,Credit Behavior And Performance Of Rural Commercial Banks

Rural credit cooperatives are the main force of the rural financial market and it plays a decisive role in relieving the issue of agriculture,rural areas and farmers.However,rural credit cooperatives are faced with a large-scale loss due to unclear property rights and incomplete corporate governance structures.In order to maintain the stability of the rural financial market and ease the capital shortage of rural financial markets,in 2001,rural credit cooperatives began to explore the practice of property rights system reform.In 2010,the joint-stock rural commercial banks were identified as the final organizational form of the reform.In the process of joint-stock reform of rural credit cooperatives,the issue of corporate governance has attracted much attention.In a sense,the ownership structure is regarded as the core of corporate governance research.A reasonable ownership structure can effectively improve the performance of rural commercial banks.However,the existing literature research mainly focuses on the direct impact of equity structure on the performance of rural commercial banks,and there is little research on how the equity structure affects performance.In recent years,some scholars have found that the equity structure has a significant impact on credit behavior of commercial banks,and it will affect the business performance by influencing the loan concentration and loan flow of commercial banks.From the perspective of the development of China's rural commercial banks,the special historical background of rural commercial banks has made them an important source of funds for real economy financing in the county,and credit behavior still dominates.Therefore,this paper introduces credit behavior as an intermediary variable and empirically studies the influence path of equity structure on the performance of rural commercial banks.First of all,based on the literature review,principal-agent and transaction cost theory,this paper studies the influence mechanism of ownership concentration,equity balance and equity nature on the performance of rural commercial banks.As well as the mediation mechanism of credit behavior on the relationship between equity structure and the performance of rural commercial banks,then the research hypothesis of this paper is proposed.Secondly,use the sample data of 40 rural commercial banks nationwide for the period of 2011?2016 to construct a regression model for empirical analysis.The empirical results show:the ownership concentration,the ownership balance and the state-owned equity nature have a significant negative effect on the performance of rural commercial banks;the degree of loan concentration merely plays a partial intermediary role in the process of influence of ownership concentration and equity balance on the performance of rural commercial banks.In the process of the influence of the nature of equity and the performance of rural commercial banks,it plays a role of full mediation;the scale of loans plays a full intermediary role in the influence of the nature of equity on the performance of rural commercial banks.Finally,according to the empirical results,suggestions are proposed from four aspects:improving equity structure,rational allocation of credit behavior,improving corporate governance of rural commercial banks,and accelerating the construction of rural commercial banks' external environment.