国有商业银行中间业务转型研究
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摘要
二十世纪七十年代以来,金融市场和信息技术的发展,使传统银行业功能一体化的制度安排逐渐丧失了竞争优势,信息不对称、资产价格波动与金融自由化加剧了传统银行业的脆弱性。面对生存危机,西方商业银行利用长期以来建立的信誉、资金和技术等优势,积极进行中间业务创新,以中间业务收入的高速增长弥补传统银行业务下滑的影响,中间业务转型成为国际银行业的发展趋势。
商业银行的中间业务是指不构成商业银行表内资产和表内负债,形成中间业务收入的业务,与传统的资产业务、负债业务共同构成了现代商业银行的三大支柱业务。随着我国市场经济体制改革的深入,特别是加入WTO以后,国内金融市场全面开放,作为中国金融体系重要组成部分的国有商业银行面临较大的冲击。在这种情况下,国家开始对国有商业银行实施综合改革,力求将国有商业银行改造成为资本充足、内控严密、运营安全、服务和效益良好、具有国际竞争力的现代化股份制商业银行。
通过2003年以来的股份制改革,国有商业银行初步建立了现代商业银行治理机构,改善了资本充足状况,但其大而不强的问题仍然较为突出。在资产价格波动较大的客观环境中,以存贷款规模扩张为主要特征的传统经营模式占用了大量资本,形成了潜在经营风险。面对商业银行从融资中介向服务中介转变的趋势,调整优化业务结构,实现收入来源多元化就成为国有商业银行深化改革的必然选择。中间业务具有低风险、低成本、高利润的优势,能够较好地满足以经济资本考核为核心的风险与效益约束机制和以利润最大化为目标的经营模式的要求。作为综合改革的重要内容,中间业务转型是巩固股改成果、降低国有商业银行经营风险、克服其自身脆弱性、抵御资产价格泡沫冲击、实现由规模导向向价值导向转变的客观需要。
本文运用规范分析和实证分析相结合的研究方法,从理论和实践两个层面对商业银行中间业务转型问题进行了研究,力求为国有商业银行的中间业务转型提供理论依据和创新性的政策建议。本文首先从传统银行业的脆弱性及其负外部效应入手,对西方商业银行中间业务转型的历史背景及其转型路径进行了研究,对商业银行中间业务转型的内涵和模式等进行界定;其次分析了国有商业银行中间业务转型与体制转轨的逻辑关系,阐述了创新在国有商业银行中间业务转型中的内生动力作用,实证分析了影响国有商业银行中间业务收入的宏观因素和微观因素,为国有商业银行的中间业务转型提供理论依据;再次,探讨了创新主导下的国有商业银行中间业务转型策略,包括经营理念、中间业务产品设计、不同类型产品的定价和服务机制等方面的创新;最后,根据中间业务风险的特殊性,在总结西方商业银行在中间业务风险管理方面的经验,包括美国次级贷款危机暴露出的商业银行在中间业务风险管理方面存在的问题的基础上,从内部控制和外部监管两个方面,提出了国有商业银行中间业务转型中的风险管理策略。
本文围绕以上问题,力求从以下几个方面进行创新:第一,从新的视角对商业银行中间业务转型的动因进行分析,指出传统银行业自身所固有的脆弱性及其形成的负外部性,以及商业银行面临的需求供给环境变化,推动其通过中间业务转型寻求更大的发展空间。第二,从制度背景出发,分析了国有商业银行在不同发展阶段承担的不同职能和定位,及其渐进式转轨的历史必然性。结合发展经济学和转轨经济学,首次以“转轨—转型”双视角研究了国有商业银行中间业务转型与体制转轨的逻辑关系。第三,运用多元回归和面板数据分析方法,实证分析了影响国有商业银行中间业务转型的宏微观因素,比较分析了不同微观因素对各商业银行中间业务收入的影响,将国有商业银行中间业务转型研究提高到新的层次。第四,运用创新经济学理论,分析了创新在国有商业银行中间业务转型中的内生动力作用,根据国有商业银行中间业务转型的特殊性,提出中间业务转型中的创新是伴随国有商业银行内外部环境变化引致的多代创新过程,探讨了国有商业银行中间业务转型的创新动力以及创新主导下的中间业务转型策略。
Since 1970, the development of financial market and information technology caused the institutional arrangements of integrated function in the traditional banking industry to lose the competitive advantage gradually. Facing the survival crisis, West Commercial banks use their advantages of prestige, fund and technology to promote the intermediary business innovation which made the non-interest income grow faster so as to compensate for the decay of traditional business. Intermediary business transformation becomes the developing tendency of the world banking industry.
The intermediary business does not appear in balance sheet, forms the non-interest income and is one of the three important business for modern commercial banks along with the traditional asset and liability business. Following the market economic reform of China, especially when we join WTO, the state owned commercial banks are inevitably under great competitive pressure. Therefore, the government decided to implement the general reform in order to transform state owned commercial banks into modern banks with sufficient capital, effective internal control system, secure operation, and excellent performance.
Through the institutional reform from 2003, the state owned commercial banks improved their capital sufficient level and established the modern company governance structure, but their weak points are still obvious. The traditional business pattern of the state owned commercial banks, which is labeled by the expansion of credit scale, will lead to potential operational risks. Facing transformation tendency of commercial bank evolving from financial intermediary to service intermediary, the state owned commercial banks should optimize the business structure and diversify the source of income, which is also the necessary choice to promote the general reform. As the important content of general reform, the intermediary business transformation is important for the state owned commercial banks to consolidate equity reform achievement, reduce operational risks, overcome self frangibility, resist the property bubble and transform from scale guidance to value guidance.
Using the standard analysis and the empirical analysis method, I study the process of the intermediary business transformation of western commercial banks and the environment of our state owned commercial banks, in order to give reasonable illustration and innovative advices. First of all, from the fragility of traditional banking industry and its negative external effects, I study the process of western commercial banks and define the meaning of intermediate business transformation. Second, followed by analysis the relation between institutional reform and intermediary business transformation, I point out that innovation is the endogenous impetus for state-owned commercial banks to carry out intermediary business transformation. I also do empirical analysis on the macro factors and micro factors which influence the intermediary business transformation. Third, the paper point out the innovative transformation strategy, including product designing, pricing and services mechanism innovation. Finally, by summarizing the risk management experience of western commercial banks, I declare the internal and external risk management strategies on intermediary business transformation for Chinese state owned commercial banks.
Regarding the above questions, the paper makes efforts on several aspects to carry on innovation: First, analyze the cause of intermediary business transformation in commercial banks and point out that the inherent vulnerability of the traditional banks and its negative exterior effects, promote commercial banks to pursue development through intermediary business transformation. Second, from the double visual angle of transformation and development, I study the relation between institutional reform and intermediary business transformation. Third, induce the intermediary business transformation experience of the west commercial banks, make comparison between west commercial banks and our state owned commercial banks, and use board data and time series methods to analyze the influencing factors in the intermediary business transformation of our state owned Commercial banks. Fourth, based on the innovation economic theory, analyze the inner motive effect of the intermediary business transformation and declare the intermediary business transformation innovation motive model, enhancing the study on the intermediary business transformation of the state owned Commercial banks to a new level.
商业银行的中间业务是指不构成商业银行表内资产和表内负债,形成中间业务收入的业务,与传统的资产业务、负债业务共同构成了现代商业银行的三大支柱业务。随着我国市场经济体制改革的深入,特别是加入WTO以后,国内金融市场全面开放,作为中国金融体系重要组成部分的国有商业银行面临较大的冲击。在这种情况下,国家开始对国有商业银行实施综合改革,力求将国有商业银行改造成为资本充足、内控严密、运营安全、服务和效益良好、具有国际竞争力的现代化股份制商业银行。
通过2003年以来的股份制改革,国有商业银行初步建立了现代商业银行治理机构,改善了资本充足状况,但其大而不强的问题仍然较为突出。在资产价格波动较大的客观环境中,以存贷款规模扩张为主要特征的传统经营模式占用了大量资本,形成了潜在经营风险。面对商业银行从融资中介向服务中介转变的趋势,调整优化业务结构,实现收入来源多元化就成为国有商业银行深化改革的必然选择。中间业务具有低风险、低成本、高利润的优势,能够较好地满足以经济资本考核为核心的风险与效益约束机制和以利润最大化为目标的经营模式的要求。作为综合改革的重要内容,中间业务转型是巩固股改成果、降低国有商业银行经营风险、克服其自身脆弱性、抵御资产价格泡沫冲击、实现由规模导向向价值导向转变的客观需要。
本文运用规范分析和实证分析相结合的研究方法,从理论和实践两个层面对商业银行中间业务转型问题进行了研究,力求为国有商业银行的中间业务转型提供理论依据和创新性的政策建议。本文首先从传统银行业的脆弱性及其负外部效应入手,对西方商业银行中间业务转型的历史背景及其转型路径进行了研究,对商业银行中间业务转型的内涵和模式等进行界定;其次分析了国有商业银行中间业务转型与体制转轨的逻辑关系,阐述了创新在国有商业银行中间业务转型中的内生动力作用,实证分析了影响国有商业银行中间业务收入的宏观因素和微观因素,为国有商业银行的中间业务转型提供理论依据;再次,探讨了创新主导下的国有商业银行中间业务转型策略,包括经营理念、中间业务产品设计、不同类型产品的定价和服务机制等方面的创新;最后,根据中间业务风险的特殊性,在总结西方商业银行在中间业务风险管理方面的经验,包括美国次级贷款危机暴露出的商业银行在中间业务风险管理方面存在的问题的基础上,从内部控制和外部监管两个方面,提出了国有商业银行中间业务转型中的风险管理策略。
本文围绕以上问题,力求从以下几个方面进行创新:第一,从新的视角对商业银行中间业务转型的动因进行分析,指出传统银行业自身所固有的脆弱性及其形成的负外部性,以及商业银行面临的需求供给环境变化,推动其通过中间业务转型寻求更大的发展空间。第二,从制度背景出发,分析了国有商业银行在不同发展阶段承担的不同职能和定位,及其渐进式转轨的历史必然性。结合发展经济学和转轨经济学,首次以“转轨—转型”双视角研究了国有商业银行中间业务转型与体制转轨的逻辑关系。第三,运用多元回归和面板数据分析方法,实证分析了影响国有商业银行中间业务转型的宏微观因素,比较分析了不同微观因素对各商业银行中间业务收入的影响,将国有商业银行中间业务转型研究提高到新的层次。第四,运用创新经济学理论,分析了创新在国有商业银行中间业务转型中的内生动力作用,根据国有商业银行中间业务转型的特殊性,提出中间业务转型中的创新是伴随国有商业银行内外部环境变化引致的多代创新过程,探讨了国有商业银行中间业务转型的创新动力以及创新主导下的中间业务转型策略。
Since 1970, the development of financial market and information technology caused the institutional arrangements of integrated function in the traditional banking industry to lose the competitive advantage gradually. Facing the survival crisis, West Commercial banks use their advantages of prestige, fund and technology to promote the intermediary business innovation which made the non-interest income grow faster so as to compensate for the decay of traditional business. Intermediary business transformation becomes the developing tendency of the world banking industry.
The intermediary business does not appear in balance sheet, forms the non-interest income and is one of the three important business for modern commercial banks along with the traditional asset and liability business. Following the market economic reform of China, especially when we join WTO, the state owned commercial banks are inevitably under great competitive pressure. Therefore, the government decided to implement the general reform in order to transform state owned commercial banks into modern banks with sufficient capital, effective internal control system, secure operation, and excellent performance.
Through the institutional reform from 2003, the state owned commercial banks improved their capital sufficient level and established the modern company governance structure, but their weak points are still obvious. The traditional business pattern of the state owned commercial banks, which is labeled by the expansion of credit scale, will lead to potential operational risks. Facing transformation tendency of commercial bank evolving from financial intermediary to service intermediary, the state owned commercial banks should optimize the business structure and diversify the source of income, which is also the necessary choice to promote the general reform. As the important content of general reform, the intermediary business transformation is important for the state owned commercial banks to consolidate equity reform achievement, reduce operational risks, overcome self frangibility, resist the property bubble and transform from scale guidance to value guidance.
Using the standard analysis and the empirical analysis method, I study the process of the intermediary business transformation of western commercial banks and the environment of our state owned commercial banks, in order to give reasonable illustration and innovative advices. First of all, from the fragility of traditional banking industry and its negative external effects, I study the process of western commercial banks and define the meaning of intermediate business transformation. Second, followed by analysis the relation between institutional reform and intermediary business transformation, I point out that innovation is the endogenous impetus for state-owned commercial banks to carry out intermediary business transformation. I also do empirical analysis on the macro factors and micro factors which influence the intermediary business transformation. Third, the paper point out the innovative transformation strategy, including product designing, pricing and services mechanism innovation. Finally, by summarizing the risk management experience of western commercial banks, I declare the internal and external risk management strategies on intermediary business transformation for Chinese state owned commercial banks.
Regarding the above questions, the paper makes efforts on several aspects to carry on innovation: First, analyze the cause of intermediary business transformation in commercial banks and point out that the inherent vulnerability of the traditional banks and its negative exterior effects, promote commercial banks to pursue development through intermediary business transformation. Second, from the double visual angle of transformation and development, I study the relation between institutional reform and intermediary business transformation. Third, induce the intermediary business transformation experience of the west commercial banks, make comparison between west commercial banks and our state owned commercial banks, and use board data and time series methods to analyze the influencing factors in the intermediary business transformation of our state owned Commercial banks. Fourth, based on the innovation economic theory, analyze the inner motive effect of the intermediary business transformation and declare the intermediary business transformation innovation motive model, enhancing the study on the intermediary business transformation of the state owned Commercial banks to a new level.
引文
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