资本市场
国际资本抽逃对国有控股银行股价稳定性分析
孙振东 林沛玉 (5)
The Influence of International Capital Flight on the Stability of Stock Prices of State-controlled Banks in China
SUN Zhen-dong LIN Pei-yu
业务探讨
以上海为龙头推进“长三角”地区票据一体化进程——基于区域票据市场创新发展的若干思考与对策
应俊惠 肖 斐 (10)
With the Lead of Shanghai, Furthering the Process of Bills Integration in Yangtze River Delta Area——Consideration and Countermeasures on Innovative Development of Regional Bills Market
YING Jun-hui XIAO Fei
我国商业银行分行传统业绩评价的缺陷及重建
丁增稳 (16)
Shortcomings of Traditional Branch Performance Evaluation of Chinese Commercial Banks and Its Reconstruction
DING Zeng-wen
商业银行操作风险衡量与管理方法及其运用
沈全芳 (22)
The Measurement and Management Approaches to Operational Risks of Commercial Banks and the Application
SHEN Quan-fang
国有（控股）商业银行品牌营销管理研究
中国工商银行江苏省分行课题组 (28)
Brand Marketing Management of State-controlled Commercial Banks
The Study Group of Jiangsu Branch, ICBC
理论研究
资产管理与银行综合化经营研究——贝莱德经验对我国银行综合化经营的启示
黄 陈 李 可 (35)
Asset Management and Integrated Operation of Commercial Banks ——Inspiration of BlackRock's Successful Transformation for Chinese Commercial Banks' Integrated Operation
HUANG Chen LI Ke
建立有中国特色的现代商业银行信贷文化体系
中国工商银行浙江省分行课题组 (41)
To Establish a Credit Culture System of Modern Commercial Banks with Chinese haracteristics
The Study Group of Zhejiang Branch, ICBC
中介机构信用卡套现问题研究
柯建飞 (49)
Research on Credit Card Cash-out through Intermediary Agents
KE Jian-fei
应用研究
区域金融发展与城乡收入差距关系的实证研究
王文胜 (55)
The Empirical Research on the Relationship Between Regional Financial Development and Urban-rural Income Gap
WANG Wen-sheng
提高我国商业银行效率的政策性思考
油晓峰 张晓丽 (60)
The Consideration on Improving the Efficiency of Chinese Commercial Banks
YOU Xiao-feng ZHANG Xiao-li
商业银行顾客满意度指数模型变量设置研究
张洪意 (64)
Model Parameter Design on Customer Satisfaction Index for Commercial Banks
ZHANG Hong-yi
调研报告
信用卡业务的创新发展路径及其实现模式——基于工商银行深圳分行信用卡业务的分析
顾 旋 林英强 (68)
Developing Route Innovation and Detailed Patterns of Credit Card Business——With the Case of Credit Card Business of ICBC Shenzhen Branch
GU Xuan LIN Ying-qiang
工商银行电子银行产品竞争力分析
杭州金融研修学院课题组 (75)
An Analysis on the Competitiveness of ICBC E-banking
The Study Group of Hangzhou Institute of Financial Managers
国际资本抽逃对国有控股银行股价稳定性分析
孙振东 林沛玉
［摘 要］ 本文以工行、中行、建行三家上市国有控股银行的股价为样本，研究在3年禁售期到期后国际战略投资者抛售所持中资银行股权情况下的股价稳定性。通过对2008年底以来集中发生外资减持时点当日以及前后10日股价变动情况的实证分析发现，在2008年末和2009年初，初期的恐慌效应加上国际国内经济形势不明朗等因素，外资减持对中资银行的股价造成了较大冲击，尤其是遭受外资股东直接减持的上述三家银行。随着我国经济回暖复苏迹象逐步显现，市场投资者的信心逐渐恢复，外资减持对中资银行的股价影响力越来越有限。
［关键词］ 商业银行；国有控股银行；外资减持；股价稳定性
［Abstract］ Using the stock prices of three state-controlled banks (ICBC,BOC and CCB) as samples, this paper studies the stability of stock prices under the circumstance that international strategic investors sold their equities in Chinese-funded banks after the deadlines of lock-up period. By observing the changes of stock prices 10 days before and after the days and on the days when foreign investors sold their equities in a mass, the paper found that along with the panic effect in the early stage and the uncertain economic situation in China and abroad, foreign investors' underweight behavior had made great impact on the prices of Chinese-funded banks, especially the three above-mentioned underweight banks in late 2008 and early 2009. As the signs of economic recovery emerge in China and market investors' confidence gradually recover, the impact of foreign investors' underweight behavior on Chinese-funded banks is becoming increasingly limited.
［Key words］ commercial bank; state-controlled bank; underweight behavior of foreign investors; stability of stock prices
以上海为龙头推进“长三角”地区票据一体化进程——基于区域票据市场创新发展的若干思考与对策
应俊惠 肖 斐
［摘 要］ 建设上海国际金融中心是一项国家战略，而推动“长三角”地区协调发展则是国家区域发展总体战略的重要组成部分。近年来，上海票据市场规模不断扩大，票据交易量持续增长，市场活跃度不断提高，其已经成为全国最大的区域性票据中心。本文在分析上海票据市场特点的基础上，阐述了推进“长三角”地区票据一体化进程的必要性，提出发展区域票据市场需要解决如下四方面的问题：扩大区域市场影响力、加强票据产品信用组合、培育票据市场投资者和服务商等，最后文章从制度、机构、业务、工具到设施等方面提出推进“长三角”地区票据一体化进程的对策建议。
［关键词］ 上海；“长三角”地区；票据市场；创新发展
［Abstract］ Building Shanghai as an international financial center is a national strategy, and promoting coordinated development of the Yangtze River Delta area is an important part of China's overall strategy for regional development. In recent years, the constantly increasing scale, the sustainable growth in bills transaction volume, and the continuously improved liveliness of the market have made Shanghai bills market the largest regional bills center in China. On the basis of analyzing the features of Shanghai bills market, the paper elaborates the necessity to accelerate the process of bills integration in Yangtze River Delta area. The following problems must be properly resolved: expanding the influence of regional market, strengthening credit portfolio of bills products, and cultivating investors and service providers of the bills market. Finally, the paper proposes suggestions from several aspects, such as institution, policy, operation, instrument, facilities, etc., to accelerate the process of bills integration of the bills market in Yangtze River Delta area.
［Key words］ Shanghai; Yangtze River Delta area, bills market, innovative development
我国商业银行分行传统业绩评价的缺陷及重建
丁增稳
［摘 要］ 通过多年的调整，尽管我国商业银行分行在绩效考评管理方面已取得一些成绩，但仍未形成一整套科学、准确的绩效考评体系。本文首先阐述了我国商业银行传统业绩评价的演变过程，分析了我国商业银行分行业绩评价的缺陷，并指出我国商业银行分行建立多维度业绩评价体系的必要性。在此基础上，通过分解总行和分行自身的战略经营目标，将经营业绩从产品、客户等横向维度进行分级评价，构建了覆盖分行部门、支行、基层网点和客户经理的全方位的业绩评价体系。为确保该体系的可操作性，商业银行必须合理设置产品线，完善内部资金转移价格体系，并规范成本核算方法。
［关键词］ 商业银行；分支机构；业绩评价；定量指标；定性指标
［Abstract］ After long-term adjustment, although Chinese commercial banks have won some achievements in branch performance evaluation and management, they fail to establish a scientific and accurate performance evaluation system. The paper first expounds the evolutionary process of traditional performance evaluation of Chinese commercial banks, analyzes the main deficiencies in the branch performance evaluation and points out the necessity to establish multi-dimensional performance evaluation system. Furthermore, by decomposing strategic objectives of head office and branch and hierarchically assessing the operating performance of a branch from several dimensions, such as products, customers, etc., the paper establishes a branch-wide performance evaluation system, which can cover all hierarchies, such as departments of a branch, sub-branches, outlets and customer managers. To ensure the feasibility of the system, commercial banks should scientifically design product lines, improve the price system of internal funds transfer and regulate cost accounting approaches.
［Key words］ commercial banks; branches; performance evaluation; qualitative indicator; quantitative indicator
商业银行操作风险衡量与管理方法及其运用
沈全芳
［摘 要］ 科学、有效地衡量和管理操作风险，对于加强我国商业银行的安全防范和稳定性建设具有重要意义。目前我国商业银行面临的操作风险主要是内部欺诈和外部欺诈。各大商业银行针对操作风险已相继出台相关政策，并取得了实质性进展。但总体而言，我国商业银行操作风险管理尚处于初级阶段，由于缺乏翔实的数据库和技术上的欠缺，利用复杂的数学模型衡量操作风险还需要一个过程。借鉴国际活跃银行的经验，我国商业银行应切实提高对操作风险的整体认识，将其纳入全面风险管理体系，加快建立操作风险损失数据库，积极推动操作风险的量化管理。
［关键词］ 商业银行；操作风险；量化管理；新巴塞尔协议
［Abstract］ Scientifically and effectively measuring and managing operational risk is of great significance to the security and stability of Chinese commercial banks. Internal and external frauds are main operational risks faced by Chinese commercial banks. Large-sized commercial banks in China have formulated policies on operational risk management and made some achievements. However, in general, Chinese commercial banks are still at the initial stage in operational risk management. Due to lack of data base and technological disadvantages, to utilize complicated mathematical models to measure operational risk requires a long process. Drawing on the experience of internationally leading banks, Chinese commercial banks should improve their overall understanding to operational risk, incorporate operational risk management into enterprise-wide risk management system, accelerate to establish data base about operational risk loss and actively further the quantitative management of operational risk.
［Key words］ commercial bank; operational risk; quantitative management; BASEL Accord Ⅱ
国有（控股）商业银行品牌营销管理研究
中国工商银行江苏省分行课题组
［摘 要］ 品牌营销管理是现代企业对品牌营销运作各环节的组织、协调及控制等行为的一种过程，也是国有（控股）商业银行实施全球化战略、打造国际一流金融企业进程中必须直面并予以强化的重要内容。本文在研究品牌营销管理相关理论和考察国内外先进商业银行在品牌营销管理方面的经验做法的基础上，深入分析了当前国有（控股）商业银行品牌营销管理的现状和特点，针对其存在的不足之处，提出了以下改进路径和措施：转变品牌营销管理理念、健全品牌营销管理体系、创新品牌营销管理手段、完善品牌营销管理机制、培育品牌营销管理文化等。
［Abstract］ Brand marketing management is a process that modern enterprises organize, coordinate and control activities of brand marketing, which is an important part emphasized by state-controlled commercial banks to implement globalization strategy and develop towards first class financial institutions in the world. On the basis of analyzing theories about brand marketing management and investigating the experience of leading commercial banks, the paper expounds the status quo and characteristics of state-controlled commercial banks in brand marketing management, and proposes the following improvement measures: changing the notion of brand marketing management, perfecting the management system, innovating approaches to manage brand marketing, improving the management mechanism and cultivate the management culture.
［Key words］ brand building; brand marketing; brand marketing management; state-controlled commercial bank
资产管理与银行综合化经营研究——贝莱德经验对我国银行综合化经营的启示
黄 陈 李 可
［摘 要］ 贝莱德公司(BlackRock, Inc.)通过短暂的21年发展成为全球管理资产规模最大的金融机构，其规模甚至超过了所有历史悠久的金融集团。贝莱德的快速成长外部得益于快速发展的全球资产管理业，内部则依赖于有效的资本运作，其经验值得探索综合化经营的我国大银行借鉴。我国以基金管理为代表的资产管理业近年发展迅猛，为满足快速增长财富日益迫切的资产管理需求，该领域仍有巨大的发展空间，且亟待大型机构的出现。我国的大银行最有实力也有必要在综合化经营的框架下通过资本运作等方式催生这样的大型机构。
［关键词］ 贝莱德；商业银行；资产管理；综合化经营
［Abstract］ Through only 21 years of development, BlackRock Inc. has become a global financial institution with the largest scale of asset under management, which even exceeds that of all long-standing well-known financial groups. The rapid growth of BlackRock should be attributed to both the rapid growth of global asset management industry (external element) and effective capital operation (internal element), which provides valuable experience for Chinese commercial banks that are exploring the road of integrated operation. Chinese asset management industry, represented by fund management corporations, has achieved rapid development in recent years. Great market demand for wealth management creates great developing potential for the industry, and is looking forward to the emergence of large-sized asset management institutions. Chinese large-sized commercial banks have both capabilities and necessity to build such institutions through M&A under the scheme of integrated operation.
［Key words］ BlackRock ; commercial bank; asset management; integrated operation
建立有中国特色的现代商业银行信贷文化体系
中国工商银行浙江省分行课题组
［摘 要］ 建立有中国特色的信贷文化体系是商业银行实现可持续发展的关键。本文详细分析了商业银行信贷文化的内涵和特征，阐述了信贷文化在银行信贷经营中的作用，以及传统文化、政治体制和行业特性对中国商业银行信贷文化的影响。本文认为，建设有中国特色的现代商业银行信贷文化必须在使命价值观、行为文化、制度文化和物质文化等方面下工夫，建设信贷文化是个长期和持续的过程，需在实践中持续推进、培育和完善，在具体实施过程中处理好若干问题。本文对商业银行建设信贷文化、提高信贷经营管理水平具有较高的参考和应用价值。
［关键词］ 商业银行；工商银行；企业文化；信贷文化
［Abstract］ Establishing a credit culture system with Chinese characteristics is the key to realizing sustainable development of commercial banks. The paper analyzes the connotation and characteristics of credit culture of commercial banks, expounds the function of credit culture and the influence of traditional culture, political system and industry features on credit culture of Chinese commercial banks. The paper argues that establishing a credit culture system of modern commercial banks with Chinese characteristics must emphasize mission values, behavioral culture, institutional culture and material culture. To establish credit culture requires a long-term and continuous process and should be furthered, cultivated and improved through practice. Several issues must be properly handled in the process of implementation. The paper can provide valuable reference for commercial banks to build their credit culture and enhance the ability to manage credit business.
［Key words］ commercial bank; ICBC; enterprise culture; credit culture
中介机构信用卡套现问题研究
柯建飞
［摘 要］ 伴随着我国信用卡数量激增而出现的中介机构信用卡套现现象，严重影响信用卡产业的健康发展。本文介绍了中介机构信用卡套现的流程并对中介机构进行了分类，分析了中介机构信用卡套现对持卡人、发卡银行和其他方面产生的危害，认为信用卡市场竞争无序、套现有利可图、POS机管理不严和法律的缺失是中介机构信用卡套现泛滥的主要原因。在此基础上提出要采取“堵”“疏”结合的方法防止中介机构套现的发生，具体建议包括：规范同业竞争，共享风险信息；拓宽融资渠道，压缩套现利润空间；加强对POS机的布放与管理；健全银行卡法律制度。
［关键词］ 信用卡；中介机构；套现；POS机
［Abstract］ Following the sharp increase of the number of credit cards in China, credit card cash-out through intermediary agents has become a thorny problem that seriously impacts the healthy development of Chinese credit card industry. On the basis of presenting the process of credit card cash-out through intermediary agents and classifying the forms of intermediary agents，the paper analyzes its harms to cardholders，card-issuing banks and other participants. The main reasons for the explosion of credit card cash-out lie in the disorderly competition in credit card market，profitability of cash-out，poor management on POS machines and the legal absence. The paper proposes that "blocking" and "dredging" approaches should be combined to prevent such phenomenon, and the detailed suggestions include regulating intra-industry competition, sharing information about risks, broadening financing to squeeze the profitability of cash-out, perfecting the distribution and management of POS machines and improving the legal system of bank cards.
［Key words］ credit card; intermediary agents; cash-out; POS machine
区域金融发展与城乡收入差距关系的实证研究
王文胜
［摘 要］ 现代金融发展理论的主流观点是金融发展对经济增长意义重大。按照这种理论逻辑，西部地区金融非均衡发展应该会产生显著的经济后果。本文以金融发展为视角，着力探讨金融发展对西部地区城乡收入差距产生的影响。实证结果表明:西部地区的金融发展与城乡收入差距之间存在着一种长期均衡关系；从格兰杰因果检验和方差分析也同样可以看出，从1990年至今，西部地区金融发展一定程度上扩大了城乡差距，但城乡收入差距的扩大不是西部地区金融发展规模的格兰杰因果原因。本文的政策含义在于从解决金融发展非均衡问题上着手来缩小西部城乡收入差距是具有现实意义的。
［关键词］ 金融发展；城乡收入差距；协整；误差修正模型
［Abstract］ The mainstream point of view of modern financial development theory is that the financial development has enormous significance for economic growth. According to this theory, the non-balanced development of western China's finance will result in a remarkable economic consequence. From the perspective of financial development, this paper is focused on the impact of the financial development on the rural-urban income gap in western China. The empirical results show that there is a long-run equilibrium relationship between the financial development and the rural-urban income gap in western China. According to the Granger causality test and variance analysis, since 1990, the financial development in western China has expanded the rural-urban income gap to some extent, but the expansion of the rural-urban income gap is not the Grander causal reason for the scale of financial development in western China. The policy implication of the paper is that it is of practical significance to narrow the urban-rural income gap in western China by solving the non-balanced issue of financial development.
［Key words］ financial development; urban-rural income gap; cointegration; vector error correction model
提高我国商业银行效率的政策性思考
油晓峰 张晓丽
［摘 要］ 效率是现代商业银行核心竞争力的重要内容，对银行效率的评价主要依赖于对财务指标的考核。本文采用多元统计中的因子分析法对国内14家商业银行2008年的经营效率进行了分析。首先，通过建立盈利能力、风险管理能力、发展能力和公司治理指标体系，对商业银行的业绩进行评价；其次，通过实证分析发现，股权结构单一、规模不经济、赢利点过于单一、管理层次多环节是造成我国商业银行经营效率低下的原因；最后，本文根据实证分析结果提出了以下建议：建立科学的内部制衡机制、转变组织架构、股权结构多元化、中间业务创新和有效控制成本等。
［关键词］ 商业银行；效率；因子分析法；核心竞争力
［Abstract］ Efficiency is one of important factors of modern commercial banks' core competence. Efficiency assessment mainly relies on financial indicator appraisal. This paper uses factor analysis of multivariate statistics to evaluate the operating efficiency of 14 domestic commercial banks in 2008. First, the performance of banks is evaluated by a series of indicators, such as profitability, risk management ability, development ability and corporate governance. Second, the empirical analysis finds that a single ownership structure, diseconomies of scale, single profitability point and multiple hierarchies of management are main reasons resulting to low operating efficiency of Chinese commercial banks. Finally, the paper proposes the following suggestions according to the empirical results: establishing a scientific internal balance mechanism, changing organizational structure, diversifying equity structure, innovating intermediary business and effectively controlling costs.
［Key words］ commercial bank; efficiency; factor analysis; core competence
（责任编辑：雨 耕）
商业银行顾客满意度指数模型变量设置研究
张洪意
［摘 要］ 目前，“让顾客满意”已经成为我国商业银行完善服务，争取顾客的重要经营手段。本研究借鉴了中外最新的研究成果，用实证研究方法，采纳了专家及银行一线管理者的建议，提出了7个二级变量、17个三级变量、21个四级变量的顾客满意度指数模型量表。对问卷数据使用克朗巴哈?琢信度系数法来测量量表的信度，应用单项与总和相关效度因子分析方法测量量表的结构效度，用专家判定法判定内容效度，确定了包含企业形象、预期质量、感知质量、感知价值、顾客满意度、顾客抱怨、顾客忠诚这7个二级变量、16个三级变量和15个四级变量的商业银行顾客满意度指数模型。
［关键词］ 商业银行；客户满意度；CSI；克朗巴哈·琢信度系数法；因子分析法
［Abstract］ Nowadays, "Let customers satisfied" has become Chinese commercial banks' important method to improve service and attract customers. Drawing references from the latest research achievements and suggestions of experts and banking professionals, the paper establishes a customer satisfaction index （CSI）scale with 7 level 2 parameters, 17 level 3 parameters and 21 level 4 parameters. The paper uses Cronbach's alpha to measure the scale's liability and applies factor analysis to measure the scale's construct validity and judge the scale's content validity with expert determination approach. Finally, a CSI model for commercial banks is established, which includes 7 level 2 parameters, 16 level 3 parameters and 15 level 4 parameters. The 7 level 2 parameters are enterprise image, expected quality, perceived quality, perceived value, customer satisfaction, customer complaint and customer loyalty.
［Key words］ commercial bank; customer satisfaction; CSI; Cronbach's alpha; factor analysis
信用卡业务的创新发展路径及其实现模式——基于工商银行深圳分行信用卡业务的分析
顾 旋 林英强
［摘 要］ 本文从深圳地区的市场特点及信用卡产业整体发展现状的宏观背景入手，以工商银行深圳分行为例对深圳地区信用卡业务创新发展的现实条件及可行性进行研究论证，提出了现代商业银行信用卡业务的创新发展路径——以技术和商业模式的领先创新为抓手，以成为主流行业的最佳合作伙伴和主流客户群的首选品牌为诉求，实现市场份额和收益最大化目标。同时，本文从产品创新、收单业务、营销渠道、运营服务和风险控制几个方面，对这一创新发展路径的具体实现模式进行了深入剖析，以期对我国商业银行信用卡产业发展提供有益借鉴。
［关键词］ 商业银行；工商银行深圳分行；信用卡业务；产品创新
［Abstract］ Beginning with the characteristics of Shenzhen market and the overall developing status of the credit card industry, the paper studies and demonstrates the conditions and feasibility of innovative development of Shenzhen credit card industry with the case of ICBC Shenzhen Branch. The paper proposes an innovative developing route of credit card business suitable to modern commercial banks: focusing on the innovation of technology and business pattern, striving to become the best partner of mainstream industries and the first chosen brand of mainstream customers, and achieving the objective of the maximum of market shares and profit. Furthermore, the paper scrutinizes possible implementation patterns of the route from five aspects, including product innovation, acquiring business, marketing , operating service and risk control to provide valuable reference for the healthy development of Chinese credit card industry.
［Key words］ commercial bank; ICBC Shenzhen Branch; credit card business; product innovation
工商银行电子银行产品竞争力分析
杭州金融研修学院课题组
［摘 要］ 近年来，各家银行都将发展电子银行业务作为主要战略举措之一，竞争越演越烈。本文通过比较各行电子银行产品得出以下结论：工商银行的电子银行产品在国内商业银行中处于领先地位，但在某些项目上较招商银行和建设银行存在不足；同时，与国际领先银行相比，在组合投资、咨询增值服务等方面存在差距。针对上述情况，为进一步提升电子银行产品的竞争力，本文提出工商银行应从以下几方面采取有效措施：一是提高电子银行产品的创新能力；二是开发适合市场需求的电子银行产品；三是解决好安全与效率的关系；四是抓住未来市场走势，积极发展个性化产品等。
［关键词］ 工商银行；电子银行；网上银行；竞争力
［Abstract］ In recent years, E-banking has become one of core strategic business of Chinese commercial banks, and the competition is increasingly fierce. Compared with E-banking of other Chinese commercial banks, ICBC E-banking holds a leading position in general, but lags behind CCB and CMB in some functions. At the same time, there are significant disparities between ICBC and internationally leading banks in many aspects, such as portfolio investment, consulting, and so on. To further improve the competitiveness of E-banking, ICBC should adopt the following measures: (1) enhancing the innovation of E-banking; (2) developing diversified E-banking products that can satisfy the market demand; (3) correctly coping with the relationship between security and efficiency; (4) following the market trend to actively develop personalized products.
［Key words］ ICBC; E-banking; internet banking; competitiveness