中国商业银行的市场结构与银行绩效关系研究
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摘要
市场结构与市场绩效是产业组织理论的两大主题,关于两者之间的关系,产业组织理论中最为重要的理论假说就是哈佛学派的SCP范式,该假说认为市场集中度较高的不完全竞争市场中,银行能从不利于消费者的利率设置(较低的存款利率和较高的贷款利率)中获得较高的利润。90年代银行业放松管制后,银行业市场结构和绩效之间关系发生了变化,目前尚无统一的定论。本文用SCP范式对中国银行业进行了检验,希望对中国银行业市场结构和绩效的关系作深入理解,对理论界和实务界有一定的借鉴意义。
金融是现代经济的核心,商业银行是金融调控的市场基础。面对外资银行进入以及经济全球化的大环境,把银行作为一个产业,以产业组织理论为指导,在市场经济背景下研究银行业的市场结构和绩效,不仅能深化国内外银行产业组织的理论研究,还能使我们更深刻地透视银行产业组织,为深化银行业改革提供理论指导,提高中国商业银行的国际竞争力,推动银行业的可持续发展。其重要意义主要有以下两个方面:
首先,对银行业市场结构和银行绩效进行分析,有利于人们更好的理解中国银行业市场的现状和面临的问题。随着中国金融市场化改革的深入,银行业的管制在放松,银行业对内对外开放程度和竞争程度也随之不断扩大,但长期以来的高度垄断所形成的低绩效现实是不可回避的问题。对中国银行业市场结构和银行绩效进行系统地、实证地分析,有利于我们更好的认清这个事实及其形成原因。
其次,以提升行业竞争力为主导的银行业结构性调整离不开对当前市场结构状况及其与银行绩效关系的研究。银行业结构调整的方向和目标的确定,需要对银行业市场结构、绩效以及相互之间的关系进行研究,这样才有利于中国银行业在越来越激烈的国际竞争环境中进行结构性调整。
本文在广泛阅读国内外相关文献的基础上,总结归纳了关于银行业的市场结构和银行绩效关系研究的国内外研究现状和相关研究的发展情况,并对银行市场结构和绩效的定义和度量指标有了深入的认识。在选用银行业市场结构和银行绩效度量指标时,主要以现代产业组织理论、金融经济学、计量经济理论为指导,运用规范与实证分析相结合、定性与定量分析相结合、比较研究与综合分析相结合的方法。在研究过程中,先对整个银行业进行全面分析,然后分别根据四大国有控股商业银行和十家股份制商业银行不同情况进行实证分析。
论文共分为五章:
第一章介绍了四个方面的内容,首先对问题的提出和选题意义作了具体说明,然后回顾了国内外研究现状,并在此基础上指出了研究思路。
第二章首先介绍了市场结构的内涵及其类型,然后从商业银行的组织制度、银行业的行业特征及其他影响因素来分析银行业市场结构的影响因素。最后从市场份额、市场集中度、进入与退出壁垒、产品差异化四个方面深入剖析了中国银行业的市场结构现状,指出外资银行进入的预期影响,并选用中国银行业2005年样本数据加以实证分析,得出中国银行业的市场结构为寡头垄断型的市场结构。
第三章首先介绍了绩效的含义,并用厂商绩效来定义银行绩效,其次从外部环境和内部环境分别来分析银行绩效的影响因素,指出了银行业绩效的特殊性。然后根据银行绩效考核机制的转变趋势,得出新的绩效考核渐行渐近,国内银行绩效考核体制存在不足并亟需改进。最后选取资产利润率和资本利润率作为银行绩效测算指标进行实证分析,得出市场集中度较高的国有控股商业银行存在低绩效,而市场集中度较低的股份制商业银行却存在高绩效。
第四章是文章的重点部分。首先用一个理论模型来解释银行绩效与市场结构的关系,并说明赫芬达尔-赫希曼指数(HHI)更适宜作为衡量银行业市场集中度的代理变量,然后基于前几章分析的基础上,建立了中国银行业市场集中度与银行绩效之间的线性回归方程,两种不同性质的银行制度得出互不相同的结果,即四大国有控股商业银行具有较高市场集中度但银行绩效较低,而十家股份制商业银行具有较低的市场集中度却具有较高的银行绩效,进而剖析了国有控股商业银行具有较高市场集中度但银行绩效较低这一相背离的成因。
第五章针对国有控股商业银行具有较高市场份额但银行绩效较低,提出了加快国有控股商业银行的商业化进程,降低政策性壁垒,营造多元竞争主体,放宽严格的金融管制,推进利率市场化进程的政策建议。
本文的主要观点是:
1.对中国银行业的市场结构实证分析可以得出中国银行业的市场结构为寡头垄断型的市场结构。
2.对中国银行业的绩效实证分析可以得出市场集中度较高的国有控股商业银行存在低绩效,而市场集中度较低的股份制商业银行却存在高绩效。
3.从理论模型出发,说明赫芬达尔-赫希曼指数(HHI)更适宜作为衡量银行业市场集中度的代理变量,并在此基础上建立模型分别对四大国有控股商业银行和十家股份制商业银行进行实证分析,得出两种不同性质的银行制度表现出互不相同的结果,即四大国有控股商业银行具有较高市场集中度但银行绩效较低,而十家股份制商业银行具有较低的市场集中度却具有较高的银行绩效。
本文的创新点表现在:
1.对中国银行业的市场结构现状进行深入剖析,并指出外资银行进入的预期影响。
2.在SCP范式基础上,通过一个理论模型说明即使放弃SCP假说垄断竞争假定,银行业市场集中度变化也会对银行绩效产生影响。
3.基于1990-2005年分别对四大国有控股商业银行和十家股份制商业银行进行了实证分析,得出两种不同性质的银行制度,市场结构与市场绩效之间呈现不同的相关关系。
本文的不足之处:
1.由于数据可获得性的限制,本文在案例分析中仅以14家商业银行为样本对中国银行业进行实证测算,对国有控股商业银行、股份制商业银行、城市商业银行及外资银行等更为全面数据的搜集和处理还有待于今后进一步研究中加以完善。
2.本文还是采用传统的测算指标资产利润率(ROA)和资本利润率(ROE)来作为银行绩效的测算指标。由于数据的难以取得,所以没有采用经济增加值(EVA)以及风险调整资本收益率(RAROC)等新的银行绩效测算指标来更好地反映银行绩效情况。
3.本文对银行业市场结构与银行绩效关系的衡量是用市场集中度代替的,市场结构更完整的衡量还包括进入和退出壁垒、产品差异化等方面的定量测度。对进入和退出壁垒、产品差异化的度量目前的研究仅停留在定性分析的水平,建议后续的研究可着眼于如何对这两个因素从定量的角度加以衡量,进而在对市场结构与绩效关系建立回归分析模型中加以考虑。
The market structure and market performance is two major theory of the industrial organization. The Harvard School SCP paradigm is the most important theoretical hypothesis that a higher degree of market concentration in the incomplete competitive markets, the banks can get higher profits through low deposit interest rates and high lending rates. In this paper, I wish test the relationship between China banking market structure and performance with SCP paradigm.
Finance is the core of modern economy, and commercial banks are the basis of financial market regulation. To face commercial banks into the economic globalization, we can regard banks as an industry to research the banking market structure and performance on the base of the guidance of the theory of industrial organization. Its significance mainly in the following two aspects:
First, studying the banking market structure and performance of the banks can make people to a better understanding of the status of China banking market. Then systematically study China banking market structure and the performance.
Second, to research the banking market structure, performance and the relationship will help China banking structural adjustment in the increasingly fierce international competition.
In selecting measurement indicators of banking market structure and performance, mainly in the modern theory of industrial organization, financial economics, econometric theory as a guide, combining norms with empirical analysis, combining qualitative analysis with quantitative analysis, and combining comprehensive analysis with comparative study. In the course of the study, the first comprehensively analyze the entire banking, and then separately analyze under the four major state-owned commercial banks and the other ten joint-stock commercial banks.
Paper is divided into five chapters:
The first chapter is devoted to four parts, firstly provides the significance of the issue and has a specific explanation, and then reviews the research situation, and bases on this to point out the way of the study.
The second Chapter begins to describe the market structure content and types, and then from the commercial banks organizational system, the banking characteristics and other factors to analyze the structure of the banking market factors. Finally, from market share, market concentration, entry and exit barriers, product differentiation to analysis China banking market structure status. Finally selects China Banking 2005 sample data to empirically analyze China banking and reach that China banking is an oligopoly type.
The third chapter introduces the meaning of the performance, and the banking performance is defined by vendor performance. The domestic banking performance appraisal system has deficiencies and urgently need to be improved. Finally selects asset profits and capital returns as the bank performance indicators to empirically analyze, which holds the higher degree of market concentration of state-owned commercial banks have the lower performance, and, the lower market concentration of the joint-stock commercial bank have the higher performance.
The forth chapter is the focus of the article. Firstly using a theoretical model to explain the relationship between the banking performance and market structure, and indicate HHI as a more appropriate measure of market concentration in the banking acting variables, and then bases on the preceding chapters analysis to establish linear regression equation about the China banking market share with the banks performance ,which thinks the two different nature of the banking system have obtained results, that is, the four major state-owned commercial banks have the higher market share but the lower performance, and the other ten joint-stock commercial banks with the lower market share but have the higher performance.
The final chapter points out the state-owned commercial banks need to accelerate the commercialization process and reduce policy barriers, and create diversified competitors, relax strict financial controls, and promote the process of market-oriented interest rate.
The main points of the paper are:
1. Through empirical analysis draws a conclusion that China market banking is an oligopoly type.
2. Through empirical analysis draws a conclusion that the higher market concentration of state-owned commercial banks have the lower performance, but the lower market concentration of the joint-stock commercial banks have the higher performance.
3. Starting from the theoretical model indicates that HHI as a more appropriate measure of market concentration acting variable, and establishing model to analyze the four major state-owned commercial banks and the other ten joint-stock commercial banks.
The innovative points of the paper in the following:
1. To deeply analyze the status quo basing on the market structure of China banking, and point out that the expected impact about foreign banks to enter China market.
2. Although abandon the SCP hypothesis assuming monopoly competition based on a theoretical model of SCP paradigm, changes of the banking market concentration will also have an impact on the banks performance.
3. Basing on the 1990-2005 to respectively analyze the four major state-owned commercial banks and the other joint-stock commercial banks.
The shortcomings of this article:
1. Due to the availability of data restrictions, in the case of this paper, only choice 14 commercial banks as samples to estimate empirical analysis.
2. Due to difficultly obtaining the data, there is not use economic value added (EVA) and the risk-adjusted rate of return (RAROC), and other new banking performance indicators to better reflect the performance of banks.
3. The more complete measurement indexes of market structure also include entry and exit barriers, product differentiation, and other aspects of the quantitative measure. The follow-up study will consider other aspects to establish regression analysis model about the relationship between market structure and performance.
金融是现代经济的核心,商业银行是金融调控的市场基础。面对外资银行进入以及经济全球化的大环境,把银行作为一个产业,以产业组织理论为指导,在市场经济背景下研究银行业的市场结构和绩效,不仅能深化国内外银行产业组织的理论研究,还能使我们更深刻地透视银行产业组织,为深化银行业改革提供理论指导,提高中国商业银行的国际竞争力,推动银行业的可持续发展。其重要意义主要有以下两个方面:
首先,对银行业市场结构和银行绩效进行分析,有利于人们更好的理解中国银行业市场的现状和面临的问题。随着中国金融市场化改革的深入,银行业的管制在放松,银行业对内对外开放程度和竞争程度也随之不断扩大,但长期以来的高度垄断所形成的低绩效现实是不可回避的问题。对中国银行业市场结构和银行绩效进行系统地、实证地分析,有利于我们更好的认清这个事实及其形成原因。
其次,以提升行业竞争力为主导的银行业结构性调整离不开对当前市场结构状况及其与银行绩效关系的研究。银行业结构调整的方向和目标的确定,需要对银行业市场结构、绩效以及相互之间的关系进行研究,这样才有利于中国银行业在越来越激烈的国际竞争环境中进行结构性调整。
本文在广泛阅读国内外相关文献的基础上,总结归纳了关于银行业的市场结构和银行绩效关系研究的国内外研究现状和相关研究的发展情况,并对银行市场结构和绩效的定义和度量指标有了深入的认识。在选用银行业市场结构和银行绩效度量指标时,主要以现代产业组织理论、金融经济学、计量经济理论为指导,运用规范与实证分析相结合、定性与定量分析相结合、比较研究与综合分析相结合的方法。在研究过程中,先对整个银行业进行全面分析,然后分别根据四大国有控股商业银行和十家股份制商业银行不同情况进行实证分析。
论文共分为五章:
第一章介绍了四个方面的内容,首先对问题的提出和选题意义作了具体说明,然后回顾了国内外研究现状,并在此基础上指出了研究思路。
第二章首先介绍了市场结构的内涵及其类型,然后从商业银行的组织制度、银行业的行业特征及其他影响因素来分析银行业市场结构的影响因素。最后从市场份额、市场集中度、进入与退出壁垒、产品差异化四个方面深入剖析了中国银行业的市场结构现状,指出外资银行进入的预期影响,并选用中国银行业2005年样本数据加以实证分析,得出中国银行业的市场结构为寡头垄断型的市场结构。
第三章首先介绍了绩效的含义,并用厂商绩效来定义银行绩效,其次从外部环境和内部环境分别来分析银行绩效的影响因素,指出了银行业绩效的特殊性。然后根据银行绩效考核机制的转变趋势,得出新的绩效考核渐行渐近,国内银行绩效考核体制存在不足并亟需改进。最后选取资产利润率和资本利润率作为银行绩效测算指标进行实证分析,得出市场集中度较高的国有控股商业银行存在低绩效,而市场集中度较低的股份制商业银行却存在高绩效。
第四章是文章的重点部分。首先用一个理论模型来解释银行绩效与市场结构的关系,并说明赫芬达尔-赫希曼指数(HHI)更适宜作为衡量银行业市场集中度的代理变量,然后基于前几章分析的基础上,建立了中国银行业市场集中度与银行绩效之间的线性回归方程,两种不同性质的银行制度得出互不相同的结果,即四大国有控股商业银行具有较高市场集中度但银行绩效较低,而十家股份制商业银行具有较低的市场集中度却具有较高的银行绩效,进而剖析了国有控股商业银行具有较高市场集中度但银行绩效较低这一相背离的成因。
第五章针对国有控股商业银行具有较高市场份额但银行绩效较低,提出了加快国有控股商业银行的商业化进程,降低政策性壁垒,营造多元竞争主体,放宽严格的金融管制,推进利率市场化进程的政策建议。
本文的主要观点是:
1.对中国银行业的市场结构实证分析可以得出中国银行业的市场结构为寡头垄断型的市场结构。
2.对中国银行业的绩效实证分析可以得出市场集中度较高的国有控股商业银行存在低绩效,而市场集中度较低的股份制商业银行却存在高绩效。
3.从理论模型出发,说明赫芬达尔-赫希曼指数(HHI)更适宜作为衡量银行业市场集中度的代理变量,并在此基础上建立模型分别对四大国有控股商业银行和十家股份制商业银行进行实证分析,得出两种不同性质的银行制度表现出互不相同的结果,即四大国有控股商业银行具有较高市场集中度但银行绩效较低,而十家股份制商业银行具有较低的市场集中度却具有较高的银行绩效。
本文的创新点表现在:
1.对中国银行业的市场结构现状进行深入剖析,并指出外资银行进入的预期影响。
2.在SCP范式基础上,通过一个理论模型说明即使放弃SCP假说垄断竞争假定,银行业市场集中度变化也会对银行绩效产生影响。
3.基于1990-2005年分别对四大国有控股商业银行和十家股份制商业银行进行了实证分析,得出两种不同性质的银行制度,市场结构与市场绩效之间呈现不同的相关关系。
本文的不足之处:
1.由于数据可获得性的限制,本文在案例分析中仅以14家商业银行为样本对中国银行业进行实证测算,对国有控股商业银行、股份制商业银行、城市商业银行及外资银行等更为全面数据的搜集和处理还有待于今后进一步研究中加以完善。
2.本文还是采用传统的测算指标资产利润率(ROA)和资本利润率(ROE)来作为银行绩效的测算指标。由于数据的难以取得,所以没有采用经济增加值(EVA)以及风险调整资本收益率(RAROC)等新的银行绩效测算指标来更好地反映银行绩效情况。
3.本文对银行业市场结构与银行绩效关系的衡量是用市场集中度代替的,市场结构更完整的衡量还包括进入和退出壁垒、产品差异化等方面的定量测度。对进入和退出壁垒、产品差异化的度量目前的研究仅停留在定性分析的水平,建议后续的研究可着眼于如何对这两个因素从定量的角度加以衡量,进而在对市场结构与绩效关系建立回归分析模型中加以考虑。
The market structure and market performance is two major theory of the industrial organization. The Harvard School SCP paradigm is the most important theoretical hypothesis that a higher degree of market concentration in the incomplete competitive markets, the banks can get higher profits through low deposit interest rates and high lending rates. In this paper, I wish test the relationship between China banking market structure and performance with SCP paradigm.
Finance is the core of modern economy, and commercial banks are the basis of financial market regulation. To face commercial banks into the economic globalization, we can regard banks as an industry to research the banking market structure and performance on the base of the guidance of the theory of industrial organization. Its significance mainly in the following two aspects:
First, studying the banking market structure and performance of the banks can make people to a better understanding of the status of China banking market. Then systematically study China banking market structure and the performance.
Second, to research the banking market structure, performance and the relationship will help China banking structural adjustment in the increasingly fierce international competition.
In selecting measurement indicators of banking market structure and performance, mainly in the modern theory of industrial organization, financial economics, econometric theory as a guide, combining norms with empirical analysis, combining qualitative analysis with quantitative analysis, and combining comprehensive analysis with comparative study. In the course of the study, the first comprehensively analyze the entire banking, and then separately analyze under the four major state-owned commercial banks and the other ten joint-stock commercial banks.
Paper is divided into five chapters:
The first chapter is devoted to four parts, firstly provides the significance of the issue and has a specific explanation, and then reviews the research situation, and bases on this to point out the way of the study.
The second Chapter begins to describe the market structure content and types, and then from the commercial banks organizational system, the banking characteristics and other factors to analyze the structure of the banking market factors. Finally, from market share, market concentration, entry and exit barriers, product differentiation to analysis China banking market structure status. Finally selects China Banking 2005 sample data to empirically analyze China banking and reach that China banking is an oligopoly type.
The third chapter introduces the meaning of the performance, and the banking performance is defined by vendor performance. The domestic banking performance appraisal system has deficiencies and urgently need to be improved. Finally selects asset profits and capital returns as the bank performance indicators to empirically analyze, which holds the higher degree of market concentration of state-owned commercial banks have the lower performance, and, the lower market concentration of the joint-stock commercial bank have the higher performance.
The forth chapter is the focus of the article. Firstly using a theoretical model to explain the relationship between the banking performance and market structure, and indicate HHI as a more appropriate measure of market concentration in the banking acting variables, and then bases on the preceding chapters analysis to establish linear regression equation about the China banking market share with the banks performance ,which thinks the two different nature of the banking system have obtained results, that is, the four major state-owned commercial banks have the higher market share but the lower performance, and the other ten joint-stock commercial banks with the lower market share but have the higher performance.
The final chapter points out the state-owned commercial banks need to accelerate the commercialization process and reduce policy barriers, and create diversified competitors, relax strict financial controls, and promote the process of market-oriented interest rate.
The main points of the paper are:
1. Through empirical analysis draws a conclusion that China market banking is an oligopoly type.
2. Through empirical analysis draws a conclusion that the higher market concentration of state-owned commercial banks have the lower performance, but the lower market concentration of the joint-stock commercial banks have the higher performance.
3. Starting from the theoretical model indicates that HHI as a more appropriate measure of market concentration acting variable, and establishing model to analyze the four major state-owned commercial banks and the other ten joint-stock commercial banks.
The innovative points of the paper in the following:
1. To deeply analyze the status quo basing on the market structure of China banking, and point out that the expected impact about foreign banks to enter China market.
2. Although abandon the SCP hypothesis assuming monopoly competition based on a theoretical model of SCP paradigm, changes of the banking market concentration will also have an impact on the banks performance.
3. Basing on the 1990-2005 to respectively analyze the four major state-owned commercial banks and the other joint-stock commercial banks.
The shortcomings of this article:
1. Due to the availability of data restrictions, in the case of this paper, only choice 14 commercial banks as samples to estimate empirical analysis.
2. Due to difficultly obtaining the data, there is not use economic value added (EVA) and the risk-adjusted rate of return (RAROC), and other new banking performance indicators to better reflect the performance of banks.
3. The more complete measurement indexes of market structure also include entry and exit barriers, product differentiation, and other aspects of the quantitative measure. The follow-up study will consider other aspects to establish regression analysis model about the relationship between market structure and performance.
引文
1 Michael Smirlock: Evidence on the (Non) Relationship between Concentration and Profitability in Banking, Journal of Money, Credit and Banking, 1985, (1), pp: 69-83.
2 Douglas D. Evanoff: Branch Banking and Service Accessibility, Journal of Money, Credit and Banking, 1988, (2), pp: 191-202.
3 Allen N. Berger: The Profit-Structure Relationship in Banking—Tests of Market-Power and Efficient-Structure Hypotheses, Journal of Money, Credit and Banking, 1995, (2), pp: 404-431.
4 Allen N. Berger,Timothy H. Hannan, 1989: The Price-Concentration Relationship in Banking, The Review of Economics and Statistics 1989, (2), pp: 291-299.
5 William E. Jackson III, 1992: Is the Market Well Defined in Bank Merger and Acquisition Analysis?, The Review of Economics and Statistics, 1992, (4), pp: 655-661.
6 Philip Molyneux and John Thornton, 1992: Determinants of European bank profitability: A note. Journal of Banking & Finance, 1992, (6), pp: 1173-1178.
7于良春、魏如山:中国银行业的市场结构分析,山东金融,1999,5。
8赵怀勇、王越:论银行规模经济,国际金融研究,1999,4。
9赵旭、蒋振声、周军民:中国银行业市场结构与绩效实证研究,金融研究,2001,3。
10秦宛顺、欧阳俊:中国商业银行业市场结构、效率和绩效,经济科学,2001,4。
11徐传谌、郑贵廷、齐树天:我国商业银行规模经济问题与金融改革策略透析,经济研究,2002,10。
12王国红:论中国银行业的市场结构,经济评论,2002,2。
13刘伟、黄桂田:中国银行业改革的侧重点:产权结构还是市场结构,经济研究,2002,8。
14刘小玄:中国转轨经济中的产权结构和市场结构——产业绩效水平的决定因素,经济研究,2003,1。
15贺春临:中国银行业的市场结构与绩效研究,经济评论,2004,6。
16高辉、刘灿:转轨过程中中国银行业市场结构与绩效的实证分析,财经科学,2004,5。
17陈敬学:中国银行业市场结构与绩效的实证研究,金融论坛,2004,5。
18苏东水:产业经济学,高等教育出版社,2000年。
19《不完全竞争经济学》,(英)琼.罗宾逊夫人著,陈良壁译,商务印书馆,1961年。
20《近百年美国经济史》,(美)沙伊贝、瓦特、福克纳著,彭松建、熊必俊、周维译,中国社会科学出版社,1983年。
[1]于良春、魏如山,1999:中国银行业的市场结构分析,山东金融,1999,5。
[2]赵怀勇、王越,1999:论银行规模经济,国际金融研究,1999,4。
[3]赵旭、蒋振声、周军民,2001:中国银行业市场结构与绩效实证研究,金融研究,2001,3。
[4]秦宛顺、欧阳俊,2001:中国商业银行业市场结构、效率和绩效,经济科学,2001,4。
[5]徐传谌、郑贵廷、齐树天,2002:我国商业银行规模经济问题与金融改革策略透析,经济研究,2002,10。
[6]王国红,2002:论中国银行业的市场结构,经济评论,2002,2。
[7]刘伟、黄桂田,2002:中国银行业改革的侧重点:产权结构还是市场结构,经济研究,2002,8。
[8]刘小玄,2003:中国转轨经济中的产权结构和市场结构——产业绩效水平的决定因素,经济研究,2003,1。
[9]贺春临,2004:中国银行业的市场结构与绩效研究,经济评论,2004,6。
[10]高辉、刘灿,2004:转轨过程中中国银行业市场结构与绩效的实证分析,财经科学,2004,5。
[11]陈敬学,2004:中国银行业市场结构与绩效的实证研究,金融论坛,2004,5。
[12]苏东水:产业经济学,高等教育出版社,2000。
[13]《不完全竞争经济学》,(英)琼.罗宾逊夫人著,陈良壁译,商务印书馆,1961年。
[14](日)植草益著,卢东斌译:《产业组织论》,中国人民大学出版社,1988。
[15]《近百年美国经济史》,(美)沙伊贝、瓦特、福克纳著,彭松建、熊必俊、周维译,中国社会科学出版社,1983年。
[16]易刚、赵先信,2001:中国的银行竞争:机构扩展、工具创新与产权改革阻,经济研究,2001,8。
[17]谢雨白,2004:外资银行进入与中国银行业市场结构变动趋势分析,上海金融,2004,10。
[18]李明志:产业组织理论,清华大学出版社,2004。
[19]汪磊,2005:中国银行业市场结构与绩效关系研究,大连理工大学硕士论文,2005。
[20]王振山,2000:银行规模与中国商业银行的运行绩效研究,财贸经济,2000,5。
[21]杨大光,2002:中国银行业市场结构透析,中央财经大学学报,2002,12。
[22]卞月波、王娟,2003:国有控股商业银行的市场结构及其效应的实证研究,华南金融研究,2003,6。
[23]潘正彦,2004:对中国银行业市场结构与绩效的实证分析,金融论坛,2004,6。
[24]章晶,2005:中国银行业市场结构与绩效研究,华东师范大学硕士论文,2005。
[25]江庆勇,2005:中国银行业的产业组织结构与效率,中国人民大学硕士论文,2005。
[26]魏文军,2005:关于产权、市场与中国银行业绩效关系的分析,南开管理评论,2005,8。
[27]李子奈:计量经济学,高等教育出版社,2000。
[28]张薇,2005:中国银行业市场结构与绩效研究,重庆大学硕士论文,2005。
[29]陈岩岩,2006:基于SCP范式的中国银行业产业组织研究,中国海洋大学硕士论文,2006。
[30]曹龙骐:货币银行学,高等教育出版社,2000。
[31]彭民、孙晓春、姚丽霞,2005:影响商业银行绩效考核的因素分析,辽宁工程技术大学学报(社会科学版),2005,6。
[32]谭鹏万,2006:中国银行业的市场结构与银行绩效关系研究——基于33家商业银行面板数据的实证检验,南方经济,2006,12。
[33]徐晓宁、张新春,2006:我国商业银行:结构、行为与绩效研究,北方经济,2006,10。
[34]刘威伟、黄波,2006:我国银行业市场结构、效率及绩效关系的实证研究,云南财经大学学报,2006,6。
[35]郑鸣、冯凯,2007:外资银行进入与中国银行业绩效、市场集中度的变化,金融论坛,2007,4。
[36]1991-2005年《中国统计年鉴》。
[37]Bain, J. S, 1968: Industry Organizations, New York: John Willey & Sons, Inc., 1968.
[38]Michael Smirlock, 1985: Evidence on the (Non) Relationship between Concentration and Profitability in Banking, Journal of Money, Credit and Banking, 1985, (1), pp: 69-83.
[39]Douglas D. Evanoff, 1988: Branch Banking and Service Accessibility, Journal of Money, Credit and Banking, 1988, (2), pp: 191-202.
[40]Allen N. Berger, 1995: The Profit-Structure Relationship in Banking—Tests of Market-Power and Efficient-Structure Hypotheses, Journal of Money, Credit and Banking, 1995, (2), pp: 404-431.
[41]Allen N. Berger,Timothy H. Hannan, 1989: The Price-Concentration Relationship in Banking, The Review of Economics and Statistics 1989, (2), pp: 291-299.
[42]William E. Jackson III, 1992: Is the Market Well Defined in Bank Merger and Acquisition Analysis?, The Review of Economics and Statistics, 1992, 4, pp: 655-661.
[43]Philip Molyneux and John Thornton, 1992: Determinants of European bank profitability: A note, Journal of Banking & Finance, 1992, (6), pp: 1173-1178.
[44]Arshadi, Nasser and Edward C. Lawrence, 1987: An Empirical Investigation of New“bank”Performance, Journal of Banking and Finance, 1987, (3).
2 Douglas D. Evanoff: Branch Banking and Service Accessibility, Journal of Money, Credit and Banking, 1988, (2), pp: 191-202.
3 Allen N. Berger: The Profit-Structure Relationship in Banking—Tests of Market-Power and Efficient-Structure Hypotheses, Journal of Money, Credit and Banking, 1995, (2), pp: 404-431.
4 Allen N. Berger,Timothy H. Hannan, 1989: The Price-Concentration Relationship in Banking, The Review of Economics and Statistics 1989, (2), pp: 291-299.
5 William E. Jackson III, 1992: Is the Market Well Defined in Bank Merger and Acquisition Analysis?, The Review of Economics and Statistics, 1992, (4), pp: 655-661.
6 Philip Molyneux and John Thornton, 1992: Determinants of European bank profitability: A note. Journal of Banking & Finance, 1992, (6), pp: 1173-1178.
7于良春、魏如山:中国银行业的市场结构分析,山东金融,1999,5。
8赵怀勇、王越:论银行规模经济,国际金融研究,1999,4。
9赵旭、蒋振声、周军民:中国银行业市场结构与绩效实证研究,金融研究,2001,3。
10秦宛顺、欧阳俊:中国商业银行业市场结构、效率和绩效,经济科学,2001,4。
11徐传谌、郑贵廷、齐树天:我国商业银行规模经济问题与金融改革策略透析,经济研究,2002,10。
12王国红:论中国银行业的市场结构,经济评论,2002,2。
13刘伟、黄桂田:中国银行业改革的侧重点:产权结构还是市场结构,经济研究,2002,8。
14刘小玄:中国转轨经济中的产权结构和市场结构——产业绩效水平的决定因素,经济研究,2003,1。
15贺春临:中国银行业的市场结构与绩效研究,经济评论,2004,6。
16高辉、刘灿:转轨过程中中国银行业市场结构与绩效的实证分析,财经科学,2004,5。
17陈敬学:中国银行业市场结构与绩效的实证研究,金融论坛,2004,5。
18苏东水:产业经济学,高等教育出版社,2000年。
19《不完全竞争经济学》,(英)琼.罗宾逊夫人著,陈良壁译,商务印书馆,1961年。
20《近百年美国经济史》,(美)沙伊贝、瓦特、福克纳著,彭松建、熊必俊、周维译,中国社会科学出版社,1983年。
[1]于良春、魏如山,1999:中国银行业的市场结构分析,山东金融,1999,5。
[2]赵怀勇、王越,1999:论银行规模经济,国际金融研究,1999,4。
[3]赵旭、蒋振声、周军民,2001:中国银行业市场结构与绩效实证研究,金融研究,2001,3。
[4]秦宛顺、欧阳俊,2001:中国商业银行业市场结构、效率和绩效,经济科学,2001,4。
[5]徐传谌、郑贵廷、齐树天,2002:我国商业银行规模经济问题与金融改革策略透析,经济研究,2002,10。
[6]王国红,2002:论中国银行业的市场结构,经济评论,2002,2。
[7]刘伟、黄桂田,2002:中国银行业改革的侧重点:产权结构还是市场结构,经济研究,2002,8。
[8]刘小玄,2003:中国转轨经济中的产权结构和市场结构——产业绩效水平的决定因素,经济研究,2003,1。
[9]贺春临,2004:中国银行业的市场结构与绩效研究,经济评论,2004,6。
[10]高辉、刘灿,2004:转轨过程中中国银行业市场结构与绩效的实证分析,财经科学,2004,5。
[11]陈敬学,2004:中国银行业市场结构与绩效的实证研究,金融论坛,2004,5。
[12]苏东水:产业经济学,高等教育出版社,2000。
[13]《不完全竞争经济学》,(英)琼.罗宾逊夫人著,陈良壁译,商务印书馆,1961年。
[14](日)植草益著,卢东斌译:《产业组织论》,中国人民大学出版社,1988。
[15]《近百年美国经济史》,(美)沙伊贝、瓦特、福克纳著,彭松建、熊必俊、周维译,中国社会科学出版社,1983年。
[16]易刚、赵先信,2001:中国的银行竞争:机构扩展、工具创新与产权改革阻,经济研究,2001,8。
[17]谢雨白,2004:外资银行进入与中国银行业市场结构变动趋势分析,上海金融,2004,10。
[18]李明志:产业组织理论,清华大学出版社,2004。
[19]汪磊,2005:中国银行业市场结构与绩效关系研究,大连理工大学硕士论文,2005。
[20]王振山,2000:银行规模与中国商业银行的运行绩效研究,财贸经济,2000,5。
[21]杨大光,2002:中国银行业市场结构透析,中央财经大学学报,2002,12。
[22]卞月波、王娟,2003:国有控股商业银行的市场结构及其效应的实证研究,华南金融研究,2003,6。
[23]潘正彦,2004:对中国银行业市场结构与绩效的实证分析,金融论坛,2004,6。
[24]章晶,2005:中国银行业市场结构与绩效研究,华东师范大学硕士论文,2005。
[25]江庆勇,2005:中国银行业的产业组织结构与效率,中国人民大学硕士论文,2005。
[26]魏文军,2005:关于产权、市场与中国银行业绩效关系的分析,南开管理评论,2005,8。
[27]李子奈:计量经济学,高等教育出版社,2000。
[28]张薇,2005:中国银行业市场结构与绩效研究,重庆大学硕士论文,2005。
[29]陈岩岩,2006:基于SCP范式的中国银行业产业组织研究,中国海洋大学硕士论文,2006。
[30]曹龙骐:货币银行学,高等教育出版社,2000。
[31]彭民、孙晓春、姚丽霞,2005:影响商业银行绩效考核的因素分析,辽宁工程技术大学学报(社会科学版),2005,6。
[32]谭鹏万,2006:中国银行业的市场结构与银行绩效关系研究——基于33家商业银行面板数据的实证检验,南方经济,2006,12。
[33]徐晓宁、张新春,2006:我国商业银行:结构、行为与绩效研究,北方经济,2006,10。
[34]刘威伟、黄波,2006:我国银行业市场结构、效率及绩效关系的实证研究,云南财经大学学报,2006,6。
[35]郑鸣、冯凯,2007:外资银行进入与中国银行业绩效、市场集中度的变化,金融论坛,2007,4。
[36]1991-2005年《中国统计年鉴》。
[37]Bain, J. S, 1968: Industry Organizations, New York: John Willey & Sons, Inc., 1968.
[38]Michael Smirlock, 1985: Evidence on the (Non) Relationship between Concentration and Profitability in Banking, Journal of Money, Credit and Banking, 1985, (1), pp: 69-83.
[39]Douglas D. Evanoff, 1988: Branch Banking and Service Accessibility, Journal of Money, Credit and Banking, 1988, (2), pp: 191-202.
[40]Allen N. Berger, 1995: The Profit-Structure Relationship in Banking—Tests of Market-Power and Efficient-Structure Hypotheses, Journal of Money, Credit and Banking, 1995, (2), pp: 404-431.
[41]Allen N. Berger,Timothy H. Hannan, 1989: The Price-Concentration Relationship in Banking, The Review of Economics and Statistics 1989, (2), pp: 291-299.
[42]William E. Jackson III, 1992: Is the Market Well Defined in Bank Merger and Acquisition Analysis?, The Review of Economics and Statistics, 1992, 4, pp: 655-661.
[43]Philip Molyneux and John Thornton, 1992: Determinants of European bank profitability: A note, Journal of Banking & Finance, 1992, (6), pp: 1173-1178.
[44]Arshadi, Nasser and Edward C. Lawrence, 1987: An Empirical Investigation of New“bank”Performance, Journal of Banking and Finance, 1987, (3).