A Study On The Operation Efficiency Of Chinese Listed Commercial Banks: The Effects Of Foreign Investors' Shareholding

Since the reform and opening up,China's financial field has become more and more open to the outside world.Introducing foreign investors into the stock market has become an important measure to optimize the bank's ownership structure and improve its efficiency in the course of opening to the outside world.At the time of 40 th anniversary reform and opening up,opening up the financial sector is an important aspect of opening to the outside world,the limitation of the ratio of foreign capital shares to the banking sector is about to be relaxed,it is of certain practical significance and value to study the operating efficiency of the Chinese listed commercial banks: the effects of foreign investor's shareholding on.It can provide policy suggestions for the opening policy of China's banking industry and the improvement of commercial banks' operating performance,implement the policy of opening up the national financial industry and promote the sustainable and healthy development of China's banking industry.According to the existing literature research results,this paper sums up three influence mechanisms of foreign investor holding on bank management performance,puts forward four hypotheses,and establishes an empirical model by adopting the non-balanced panel data of 25 listed commercial banks in China for 2006-2016 years,and obtains four conclusions through the regression results of the empirical mode: first,foreign investors can improve short-term operating efficiency of banks;second,the foreign investors reduce the long-term operating efficiency of the banks;third,the effectiveness of the information environment helps to improve the negative impact of foreign investors on the long-term performance of the banks;fourth,the negative effect of foreign investor holding on the long-term performance of state-owned banks is more than non-state-owned banks.Three policy suggestions are put forward: first,we must improve the access mechanism and supporting regulatory mechanism.Relaxation of restrictions does not mean relaxation of regulation.We should actively and prudently promote the opening up of banking industry in prudent supervision;second,we should establish a transparent and open information disclosure mechanism and give full play to the positive role of foreign investors in business efficiency;Third,opening-up brings progress.We should strengthen the opening to the outside world,continue to promote the commercial banks to improve their operating efficiency in the open environment,enhance the international competitiveness,and play a role in the opening of the financial industry.By combing,screening and summarizing the existing literature about the relationship between foreign investors' shareholding and bank management efficiency,we choose different methods and angles to study it.It is innovative and can be beneficial to the existing literature,which is embodied in three aspects: first,we studied the impact of foreign investors' holdings on bank performance from two aspects: short term and long term;second,we used the continuous variables of the proportion of foreign investors and the virtual variables that have foreign investor holdings to measure the situation of foreign investor ownership,the short-term and long-term effects are studied respectively;third,we studied the impact of information environment and firm type on the relationship between foreign investor ownership and bank performance.In view of the shortage or lack of data samples,the related analysis and conclusion may not be accurate enough.With the gradual advancement of the opening process of the banking industry and the gradual transparency and openness of the bank management data,on the basis of the accumulation of more sufficient data samples,it can provide reference and basis for the follow-up research and provide more and more accurate policy suggestions for the further opening of the banking industry.