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使用178家商业银行2000—2014年的大样本数据,本文采用双重差分模型检验了公开上市对银行绩效的影响。研究发现,公开上市对银行的会计业绩有负向影响,但有助于降低银行的不良贷款率和提升非利息收入占营业收入的比例,这表明公开上市改变了银行对待风险和收益的激励。进一步研究发现,银行上市时公开发行的股份比例越高,公开上市对会计业绩的负向影响更为严重,同时对不良贷款率的抑制效应更不明显。这意味着与公开上市相联系的股权分散导致的代理问题可能使上市银行在盈利追求和风险控制方面的激励均有所下降。
Using the large sample data of 178 commercial banks from 2000 to 2014, the paper uses a double-difference model to test the impact of public listing on bank performance. The study found that the public listing has a negative impact on the bank’s accounting performance, but it helps to reduce the bank’s non-performing loan ratio and increase the proportion of non-interest income to operating income. This shows that the public listing has changed the bank’s incentive to treat the risks and benefits. Further study found that the higher the public offering of shares at the time of listing, the more negative the public listing has on the accounting performance, and the less obvious the effect on the non-performing loan ratio. This means that the issue of agency caused by the scattered shareholding associated with the public listing may make listed banks less incentive to pursue profitability and risk control.