Efficiency and Total Factor Productivity in Listed Commercial Banks in China Under the Constraint of Non-performing Loans:An Empirical Analysis Based on SBMDirectional Distance Function
运用SBM方向性距离函数和Luenberger生产率指标，测度不良贷款约束下中国上市银行的效率与全要素生产率，发现股份制银行优于国有大行，非利息收入和不良贷款是低效主因，外资银行占比和M2增长推动银行业进步。
This paper applies SBM directional distance function and Luenberger productivity indicator to measure the bank efficiency and TFP under the constraint of non-performing loans,and analyzes the influence from macroeconomic factors.The efficiency of joint-stock commercial banks is better than that of large state-owned commercial banks.Non-interest income and non-performing loans are the main sources of inefficiency.The TFP of China's banking operates well,and the joint-stock commercial bank is better than the large state-owned commercial bank,attributing to the scale efficiency change and the technology progress scale change.The share of foreign banks and M2 supply growth push China's banking ahead.