Ownership Structure,Bank Lending and Financial Performance:Evidence Based on the City Commercial Bank in China
利用2004-2009年中国城市商业银行数据，研究发现大股东控制权越强，银行不良贷款率越高、贷款集中度越高、经营绩效越差；地方政府控股时不良率更高，而独立董事能限制大股东掏空行为。
Using the data of Chinese city commercial bank from 2004 to 2009,the paper analyzes how corporate governance of city commercial bank comprehensively influences on the bank lending,non-performing loan and bank performance.We find that ownership structure has an important influence on the credit behavior and bank operating performance.Bank with higher controlling power of the largest shareholders has higher non-performing loan ratio,higher loan concentration and worse operating performance.When its controlling shareholder is local government,city commercial bank has higher non-performing ratio.Consistent with non-financial firms,the largest shareholder of city commercial bank also has an incentive to tunnel.However,independent director in bank board can restrict largest shareholders from tunneling.Furthermore,we also find that ownership structure can influence bank operating performance through loan concentration and loan flow,which reveals the channel and mechanism of how ownership structure influences performance.Our study provides new evidence on the relationship between bank corporate governance and performance,and also has an important practical implication for loan risk control,financial risk prevention and financial security.