1、股指期货推出对中国上市银行市值的影响分析
中国工商银行战略管理与投资者关系部资本市场课题组（3）
Effect of the Launch of Stock Index Futures on the Market Value of China's Listed Banks
The Study Group of Corporate Strategy and IR Dep., ICBC (3)
2、上交所与银行间国债市场的新券效应及比较
苏 罡（9）
Effect of New Bonds on Shanghai Stock Exchange and Interbank Bond Market and a Comparative Study
SU Gang (9)
3、商业银行客户服务与金融创新
徐志宏（13）
Commercial Banking Customer Service and Financial Innovation
XU Zhi-hong (13)
4、商业银行服务创新的动力因素－－基于调查的实证分析
李建英 冯 勤（19）
Service Innovation Motive of Commercial Banks－－A Survey-based Empirical Study
LI Jian-ying FENG Qin (19)
5、商业银行个人业务客户经理胜任力模型研究
魏 钧 张 德（25）
Competence Model for Customer Manager of Individual Business in Commercial Banks
WEI Jun ZHANG De (25)
6、对中国信用卡消费群体特征的多元统计分析
董志勇 狄晓娇（30）
A Multivariate Statistical Analysis of the Characteristics of Credit Card User Groups in China DONG Zhi-yong DI Xiao-jiao (30)
7、中国商业银行竞争效率的国际比较
张 娜（35）
An International Comparison of the Competitive Efficiency of Chinese Commercial Banks
ZHANG Na (35)
8、总分行制度下基于Delta-EVT模型的操作风险度量研究
邹 薇 陈 云（40）
Study 0n Measurement of Operational Risks under "Home-Branch" System Based 0n Delta-EVT Model
ZOU Wei CHEN Yun (40)
9、国有控股商业银行合规文化建设研究
中国工商银行江苏省分行课题组（46）
Compliance Cultural Construction of State-controlled Commercial Banks
The Study Group, Jiangsu Branch, ICBC (46)
10、析反洗钱法临时冻结权适用的矛盾悖论
葛力伟 段维明 吴中明 张 芳 刘 丽（54）
Paradox of Applicability of Interim Freeze Right in the Law of Anti-Money Laundering
GE Li-wei DUAN Wei-ming WU Zhong-ming ZHANG Fang LIU Li (54)
股指期货推出对中国上市银行市值的影响分析
中国工商银行战略管理与投资者关系部资本市场课题组
［摘 要］ 本文对股指期货推出后中国上市银行市值将可能发生的变化进行了分析。在考察国外主要股票市场推出股指期货前后市场走势的变化，以及对主要成分股股价的影响的基础上，对我国推出股指期货后可能对股票市场以及上市银行市值产生的影响进行预测，并对银行股的可操纵性进行分析。推出股指期货前后短期内，由于机构抢筹等原因，股票现货市场一般会出现较大波动，但长期中由于无风险套利行为的存在，市场走势仍由基本面决定。根据国际经验，中国上市银行市值在短期内会受到一定影响，但长期来看被市场作为操纵工具的可能性不大。
［关键词］ 股指期货；上市银行；股票市场；沪深300指数
［中图分类号］ F830.91 ［文献标志码］ A
［Abstract］ In the present paper, analysis is given of the possible change of market value of China's listed banks after the launch of stock index futures. By investigating market trends in major foreign stock markets and effect on composite stock price of China's equity market after the release of index futures，prediction is made on what will happen in China's stock market and value of listed banks. Discussion is also devoted to whether banking stocks are manipulative. It is pointed out that the stock market will be very volatile right before and after the release due to panic buying by financial institutes, but in the long term, given no risk arbitrage, the market trend will be finally decided by the financial muscles of these listed banks. According to international experience, China's listed banks will suffer temporally in their market value, but in the long run, the likelihood of being used as a market manipulation tool is very remote.
［Key words］ index futures; listed banks; stock market; Shanghai-Shenzhen 300 index
上交所与银行间国债市场的新券效应及比较
苏 罡
［摘 要］ 新券效应与国债品种特征、投资者行为和市场微观结构均有密切关系。上交所和银行间国债市场的新券效应不仅存在共同点，也存在明显差异。在交易额占比最大的基准国债品种上，两个市场均表现出显著的新券效应。但由于投资者行为存在差异，上交所国债市场的新券效应更倾向于中长期国债品种，而银行间国债市场的新券效应更倾向于短期国债品种。而且，上交所国债市场的指令驱动交易方式便于连续交易和信息披露，方便考察新券效应，而银行间国债市场仅能在较短时间内考察新券效应。在上交所国债市场上，中长期国债与国债回购的利差更大，有利于现券回购套利投资，中长期新券吸引套利投资者积极参与，也促进了新券效应。
［关键词］上交所国债市场；银行间国债市场；流动性；新券效应
［中图分类号］ F830.91 ［文献标志码］ A
［Abstract］ The effect of new bonds is closely related with bond features, investors' behavior and market micro-structure. There exists similarity and dissimilarity between bond market in Shanghai stock exchange and interbank bond market as far as the effect of new bonds is concerned. With regard to benchmark treasury bonds with the largest turnover, the two markets have new bond effect. However, due to different investors' behaviors, Shanghai bond market tends to favor long and mid-term bonds while interbank market is inclined to short-term bonds. Moreover, order-driven trading method in Shanghai is suitable for continuously trading and information disclosure, thus convenient for observing the effect, whereas interbank market is only suitable for short-term investigation. In Shanghai, the larger profit margin between long and mid-term bonds and buy-back encourages arbitrage by buying back current bond. Long and mid-term new bonds will attract arbitrageurs to invest, thus magnifying new bond effect.
商业银行客户服务与金融创新
徐志宏
［摘 要］ 商业银行的客户服务目前已经成为社会关注的焦点。改善并不断提高服务质量是商业银行的基本职责和保持长期盈利的需要。客户服务是产品功能通过业务流程来实现的，功能的适用性和流程的便捷性是客户服务质量的两个最基本特征。本文在分析了商业银行在客户服务方面所存在的问题及其原因的基础上，指出在观念、产品、流程和组织等方面进行金融创新，从而提高服务供给能力是改善商业银行客户服务的根本出路。服务改善是一项具备基础性、全局性、长期性和艰巨性的任务，商业银行经营活动中没有任何其他事务比客户服务的改善更为困难、所需时间更为长久，从而也更需要资源的投入。
［关键词］ 商业银行；客户服务；金融创新
［中图分类号］ F830.33 ［文献标志码］ A
［Abstract］ Customer service by commercial banks has become a focus of social attention. To constantly improve service quality is the fundamental duty of commercial banks and the need to maintain long-term profit growth. Customer service is a product function realized through business flow. So function suitability and flow convenience constitute two basic guarantees of service quality. This paper looks into the problems and their causes in customer service and points out that to improve customer service, commercial banks should innovate concepts, products, business flow and organization structure to enhance their service capability. Since service improvement is a basic, long-term and hard task that affects overall situation, nothing is more difficult, time-consuming and resource-demanding than service improvement.
商业银行服务创新的动力因素－－基于调查的实证分析
李建英 冯 勤
［摘 要］ 本文基于国内外服务创新的理论成果，从外部轨道、外部行为者和内部动力三个方面对商业银行服务创新的动力因素进行分析。通过对十一家银行的问卷调查，对取得的样本数据进行因子分析，将服务创新的动力因素归为五类，采用多元线性回归分析，考察多因子共同作用下各因子对商业银行服务创新活动的影响，进而对关键动因进行识别。回归结果显示，战略管理和组织因素对商业银行服务创新起着关键的推动作用。
［关键词］ 服务创新；创新动力；商业银行；实证分析
［中图分类号］ F830.33 ［文献标志码］ A
［Abstract］ In this paper, motivational factors underlying service innovation by commercial banks are analyzed with reference to theoretical achievements at home and abroad from three perspectives comprising external channel, external behaviorist and internal motive. According factor analysis of the sample data collected from questionnaires to 11 banks, motivational factors are classified into five categories. On the strength of multivariate linear regression analysis, investigation is made on the impact of each factor under joint force of multi-factors on service innovation so as to identify key inductive factors. Regression result shows that strategic management and organizational factors play a vital role in driving service innovation by commercial banks.
商业银行个人业务客户经理胜任力模型研究
魏 钧 张 德
［摘 要］ 本文研究了国内商业银行的个人业务客户经理胜任力模型（Competency Model），利用团体焦点访谈法、关键行为事件访谈法，对国内6省市商业银行进行访谈调研，形成问卷，并对9省市商业银行进行调研，得到有效问卷914份。通过多元统计分析方法和胜任特征评价法，对客户经理胜任力模型进行了深入研究，运用探索性因素分析和验证性因素分析，得出商业银行个人业务客户经理胜任力结构模型，由28个胜任特征因素构成六大类胜任力模块：风险掌控、资讯把握、咨询建议、服务延伸、冲突管理、效率提升。
［关键词］ 商业银行；客户经理；胜任力模型：胜任特征
［中图分类号］ F830.33 ［文献标志码］ A
［Abstract］ This paper discusses competence model for customer managers in domestic commercial banks. Through corporate focus interview and key behavioral event interview, commercial banks in six provinces and municipalities are surveyed and a questionnaire is prepared and distributed to commercial banks in nine provinces and municipalities with 914 effective questionnaires collected. Then, in-depth study is made on the competence model with multivariate analytical method and competence evaluation method. By using explorative factor analysis and testifying factor analysis, a competence structural model is obtained that is composed of six competence modules featuring 28 factors: risk control, information access, consultation, service extension, conflict management and efficiency enhancement.
对中国信用卡消费群体特征的多元统计分析
董志勇 狄晓娇
［摘 要］ 本文在北京地区调查问卷的基础上设计了一套信用卡评价量表,通过多元统计中的因子分析、方差分析、卡方检验等手段分析信用卡评价变量与人口统计变量的相互关系，从量化的角度得出中国信用卡市场的基本现状和特点：信用卡各项服务的水平有很大的提升空间，开发潜力很大；信用卡的年费普遍过高； 年轻群体相比于其他年龄群体对于信用卡的接受度、认同度、透支程度、及时还款程度都是最高的；信用卡的功能有待进一步开发；新功能的宣传所达到的效果较小；营销的细分市场应该主要通过透支额度和服务程度等来划分。最后文章还提出了相应的政策建议。
［关键词］ 信用卡；营销策略；评价变量；人口统计变量
［中图分类号］ F830.5 ［文献标志码］ A
［Abstract］ This paper develops a chart of credit card variables based on a questionnaire in Beijing and uses factorial analysis, ANOVA (analysis of variance) and KMO analysis to interrelate credit card variables and demographic variables. Through quantitative analysis, current conditions and characteristics of China's credit card market are obtained: there leaves much room to improve in service quality; annual service charge is too high; new functions remain to be tapped and publicized further; compared with other user groups, the young-user group is the most willing to accept, recognize, overdraft and timely repay credit card and marketing segmentation should be based on overdrafting amount and service. Finally policy suggestion is provided.
中国商业银行竞争效率的国际比较
张 娜
［摘 要］ 在对商业银行效率概念分析和效率分析方法比较的基础上，应用数据包络分析方法对10家国内银行和6家外国银行2003-2005年的效率进行评估，结果显示，我国商业银行的效率值低于国际先进银行。基于2005年的数据，运用单要素指标分析法对我国与国际先进银行的经营效率、成本效率和资产配置效率进行比较，分析结果显示：我国商业银行整体的盈利能力较低，资产获利能力普遍较弱，资本收益率与外资银行相比还有一定差距，只有不断加强我国银行业的各项改革,才能使银行业不断地认识并改进自身的不足，进而提高银行业的效率。
［关键词］ 商业银行；决策单元；DEA；规模收益
［中图分类号］ F830.33 ［文献标志码］ A
［Abstract］ Through a comparative analysis of efficiency concept and effectiveness of commercial banks supported by data envelope analysis method, 10 domestic banks and 6 foreign banks are evaluated in terms of efficiency during 2003-2005. It is found that efficiency of our commercial banks is lower than that of world advanced banks. According to the data of 2005 processed with single-factor index approach, Chinese banks and international advanced banks are compared with regarding operational efficiency, cost and capital allocation. Result shows that the profitability of our commercial banks as a whole is lower than their foreign counterparts and so are their assets' profitability and capital returns. It is pointed out that only by incessant reform in all aspects can our commercial banks keep on learning and overcoming their weakness and improve their banking efficiency.
总分行制度下基于Delta-EVT模型的操作风险度量研究
邹 薇 陈 云
［摘 要］ 总分行制度下制度设计缺陷及人员管理等方面的失误是商业银行操作风险产生的重要原因之一。在操作风险损失数据不完全的情况下，首先将损失进行分类，并选取总行对分行管理人员配备的误差、机构内部人员的组合误差、员工素质问题、分行出现问题后向总行报告的时间延误和总行及时处理问题分行的能力等特定的风险因子，继而借助Delta-EVT模型，采用Delta方法计算由以上风险因子导致的操作损失。通过计算，由于控制失效或外部事件引起的超额损失，再利用门槛值将两者结合起来，用EVT方法可以较准确地估算出在分行经营过程中和在向总行传递信息过程中由于制度设计不合理导致的操作风险。
［关键词］ 操作风险；Delta-EVT模型；操作损失；超额损失
［中图分类号］ F830.51 ［文献标志码］ A
［Abstract］ Defective system design and faulty personnel management are responsible for operational risks in commercial banks under the "home-branch" system. Given incomplete data on operational losses, this paper classifies losses and collects risk factors like errors in home-to-branches management manning, errors in internal staff composition, quality of the staff, time-lag of report of risks and ability of home bank's quick response. Then Delta-EVT model is used to calculate with Delta approach the operational losses caused by above-mentioned factors. Through calculation, excess losses resulting from ineffective control and external events are obtained. When these two factors are combined through the threshold, one can use EVT method to accurately measure operational risks caused by defective system design in the course of operation and during upward information transmission.
国有控股商业银行合规文化建设研究
中国工商银行江苏省分行课题组
［摘 要］ 随着我国加入WTO过渡期的完成，中国银行业将完全实现对外开放。合规风险逐渐成为除信用风险、市场风险和操作风险之外的我国国有控股商业银行面临的重要风险。有效控制合规风险的长期措施应该是进行商业银行合规文化的建设。本文从建设国有控股商业银行合规文化的现实要求出发，结合国有控股商业银行经营实践，通过对合规文化的内涵与特点及国有控股商业银行合规文化现状的分析，提出了对国有控股商业银行合规文化建设的设想，主要包括：健全合规制度及组织体系、强调“有效互动”的合规文化、建立有效的绩效考核机制、流程再造应突出合规文化等。
［关键词］ 国有控股商业银行；合规风险；合规文化建设；合规风险管理
［中图分类号］ F832.2 ［文献标志码］ A
［Abstract］ With the end of transitional period of China's WTO accession, China's banking sector will be fully opened to the outside world. Compliance risk will gradually loom large for state-owned commercial banks apart from to credit risk, market risk and operational risk. To effectively control such risk for long, commercial banks should strengthen compliance cultural construction. In consideration of actual requirement with reference to banking experience through analysis of the content and characteristics of compliance cultural construction and reality of state-owned commercial banks in this respect, this paper suggests that they should improve compliance system and organizational structure, emphasize "effective interactive" compliance culture, establish effective performance evaluation system and lay stress on compliance culture when reengineering business flow.
析反洗钱法临时冻结权适用的矛盾悖论
葛力伟 段维明 吴中明 张 芳 刘 丽
［摘 要］ 临时冻结权是《中华人民共和国反洗钱法》赋予国务院反洗钱行政主管部门的一项重要权力，这项权力的行使，必将对金融机构、法人、经济组织、公民和全社会产生重大的影响，但它在理论设计上的不完善以及文字表达方面的不准确完整，导致了这项权力行使的理论可行性和实践操作性不强，存在冻结与解冻的矛盾悖论，并产生某些负面作用，其关于临时冻结权的规定应及时予以修改完善。
［关键词］ 反洗钱；临时冻结权；法的适用；矛盾悖论
［中图分类号］ D922.28 ［文献标志码］ A
［Abstract］ Interim freeze right is an important right delegated to competent authority under the State Council by "The Law on Anti-Money Laundering of the People's Republic of China." Exercise of this right will heavily influence financial institutions, legal persons, economic organizations, citizens and the society at large. However, due to its imperfect theoretical design and inaccurate wording, this right is theoretically unfeasible and operationally inapplicable. There exists a paradox between freeze and defreeze, bringing about some adverse effects. It is argued that such stipulation on interim freeze right should be amended and improved in time.