中国上市银行效率与全要素生产率再研究——基于两阶段网络方向性距离SBM模型的实证分析
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财经研究 2015 年 第 41 卷第 09 期, 页码：
摘要
参考文献
摘要
现有文献运用数据包络分析模型对银行业的效率进行了大量的实证研究，但是大多没有考虑银行业效率评价的网络结构，也较少考虑银行业的非期望产出，从而其估计结果颇受质疑。文章利用中国16家上市银行2004－2012年的数据，将银行业的生产看成是一个两阶段网络生产过程，并考虑了银行业的不良贷款作为非期望产出时的弱可处置性问题，运用两阶段网络方向性距离松弛的数据包络模型进行了系统的测量研究。分析表明，国有银行的效率仍然偏低，各家银行都存在非效率现象，但效率变化呈现出一种倒U形变化的趋势，尤其是近几年银行业的效率有显著提高；银行业效率评价方法的选择对实证结果非常重要，未考虑与考虑松弛作用时的估计结果有很大差异。全要素生产率的分析结果表明，银行业的整体业绩变好，这是技术进步和技术效率提升共同作用的结果，主要得益于2003年以来推行的国有银行股份制改造和公开上市所产生的硬约束效应。文章进一步分析了影响银行业非效率的因素，结果表明宏观经济因素对银行业效率的影响并不明显，银行业内部因素对非效率项的影响显著。
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[27]Isik I, Hassan M K. Technical, scale and allocative efficiencies of Turkish banking industry[J]. Journal of Banking and Finance, 2002, 26（4）: 719-766.
[28]Kao C, Hwang S N. Efficiency decomposition in twostage data envelopment analysis: An application to nonlife insurance companies in Taiwan[J]. European Journal of Operational Research, 2008, 185（1）: 418-429.
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[30]Maudos J, de Guevara J F. The cost of market power in banking: Social welfare loss vs. cost inefficiency[J]. Journal of Banking and Finance, 2007, 31（7）: 2103-2125.
[31]Seiford L M, Zhu J. Profitability and marketability of the top 55 US commercial banks[J]. Management Science, 1999, 45（9）: 1270-1288.
[32]Sherman D, Gold F. Branch operating efficiency: Evaluation with data envelopment analysis[J]. Journal of Banking and Finance, 1985, 9（2）: 297-315.
[33]Tone K. A slacks based measure of efficiency in data envelopment analysis[J]. European Journal of Operational Research, 2001, 130（3）: 498-509.
[34]Tone K, Tsutsui M. Dynamic DEA with network structure: A slacksbased measure approach[R]. Workshop on DNDEA, 2013.
[2]柯孔林，冯宗宪.中国银行业全要素生产率测度：基于MalmquistLuenberger指数研究[J].数量经济技术经济研究，2008，（4）：110－120.
[3]王兵，朱宁.不良贷款约束下的中国上市商业银行效率和全要素生产率研究——基于SBM方向性距离函数的实证分析[J].金融研究，2011，（1）：110－130.
[4]薛峰，杨德礼.评价银行经营与管理综合效益的DEA模型[J].数量经济技术经济研究，1998，（5）：63－66.
[5]张健华.我国商业银行效率研究的DEA方法及1997-2001年效率的实证分析[J].金融研究，2003，（3）：11－25.
[6]张健华，王鹏.中国银行业广义Malmquist生产率指数研究[J].经济研究，2010，（8）：128－140.
[7]Akther S, Fukuyama H, Weber W L. Estimating twostage network slacksbased inefficiency: An application to Bangladesh banking[J]. Omega, 2013, 41（1）: 88-96.
[8]Assaf A G,Matousek R, Tsionas E G. Turkish bank efficiency: Bayesian estimation with undesirable outputs[J]. Journal of Banking and Finance, 2013, 37（2）: 506-517.
[9]Benston G J. Economies of scale of financial institutions[J]. Journal of Money, Credit and Banking, 1972, 4（2）: 312-341.
[10]Berg S A,Frsund F R,Hjalmarsson L, et al. Banking efficiency in the Nordic countries[J]. Journal of Banking and Finance, 1993, 17（2）: 371-388.
[11]Berger A N, Humphrey D B. Efficiency of financial institutions: International survey and directions for future research[J]. European Journal of Operation Research, 1997, 98（2）: 175-212.
[12]Chambers R G, Chung Y, Fre R. Benefit and distance functions[J]. Journal of Economics Theory, 1996, 70（2）: 407-419.
[13]Charnes A,Cooper W W,Golany B，et al. Foundations of data envelopment analysis for ParetoKoopmans efficient empirical production functions[J]. Journal of Econometrics, 1985, 30（1）: 91-107.
[14]Chen Y, Cook W D, Li N, et al. Aditive efficiency decomposition in twostage DEA[J]. European Journal of Operational Research, 2009, 196（3）: 1170-1176.
[15]Chung Y, Fre R, Grosskopf S. Productivity and undesirable outputs: A directional distance function approach[J]. Journal of Environmental Management, 1997, 51（3）: 229-240.
[16]Cook W D, Tone K, Zhu J. Data envelopment analysis: Prior to choosing a model[J]. Omega, 2014, 44（1）: 1-4.
[17]Cooper W W, Seiford L M, Tone K. Data envelopment analysis: A comprehensive text with models, applications, references and DEAsolver software[M].Berlin：Springer, 2007.
[18]Cooper W W, Seiford L M, Zhu J. Handbook on data envelopment analysis[M].Berlin:Springer, 2011.
[19]Fre R, Grosskopf S, Lovell C. The measurement of efficiency of production[M]. Boston:KluwerNijhoff, 1985.
[20]Fre R, Grosskopf S, Norris M, et al. Productivity growth, technical progress, and efficiency change in industrialized countries[J]. American Economic Review,1994,84（1）:66-83.
[21]Fre R, Grosskopf S, Pasurka C. Environmental production functions and environmental directional distance functions[J]. Energy, 2007, 32（7）: 1055-1066.
[22]Fethi M D, Pasiouras F. Assessing bank efficiency and performance with operational research and artificial intelligence techniques: A survey[J]. European Journal of Operational Research, 2010, 204（2）:189-198.
[23]Fujii H, Managi S, Matousek R. Indian bank efficiency and productivity changes with undesirable outputs: A disaggregated approach[J]. Journal of Banking and Finance, 2014, 38: 41-50.
[24]Fukuyama H, Matousek R. Efficiency of Turkish banking: Twostage network system[J]. Journal of International Financial Markets, Institutions and Money, 2011, 21（1）: 75-91.
[25]Fukuyama H, Weber W L. A directional slacksbased measure of technical inefficiency[J]. SocioEconomic Planning Sciences, 2009, 43（4）: 274-287.
[26]Holod D, Lewis H F. Resolving the deposit dilemma: A new DEA bank efficiency model[J]. Journal of Banking and Finance, 2011, 35（11）: 2801-2810.
[27]Isik I, Hassan M K. Technical, scale and allocative efficiencies of Turkish banking industry[J]. Journal of Banking and Finance, 2002, 26（4）: 719-766.
[28]Kao C, Hwang S N. Efficiency decomposition in twostage data envelopment analysis: An application to nonlife insurance companies in Taiwan[J]. European Journal of Operational Research, 2008, 185（1）: 418-429.
[29]Liang L, Cook W D, Zhu J. DEA models for twostage processes: Game approach and efficiency decomposition[J]. Naval Research Logistics, 2008, 55（7）: 643-653.
[30]Maudos J, de Guevara J F. The cost of market power in banking: Social welfare loss vs. cost inefficiency[J]. Journal of Banking and Finance, 2007, 31（7）: 2103-2125.
[31]Seiford L M, Zhu J. Profitability and marketability of the top 55 US commercial banks[J]. Management Science, 1999, 45（9）: 1270-1288.
[32]Sherman D, Gold F. Branch operating efficiency: Evaluation with data envelopment analysis[J]. Journal of Banking and Finance, 1985, 9（2）: 297-315.
[33]Tone K. A slacks based measure of efficiency in data envelopment analysis[J]. European Journal of Operational Research, 2001, 130（3）: 498-509.
[34]Tone K, Tsutsui M. Dynamic DEA with network structure: A slacksbased measure approach[R]. Workshop on DNDEA, 2013.
引用本文
李小胜, 张焕明. 中国上市银行效率与全要素生产率再研究——基于两阶段网络方向性距离SBM模型的实证分析[J]. 财经研究, 2015, 41(9): 0.
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