本刊专稿
商业银行拓展地方政府融资平台业务的前景与策略
中国工商银行城市金融研究所课题组 (5)
Prospects and Strategies of Commercial Banks in Improving Services for Local-government Financing Platforms
The Study Group of ICBC Urban Finance Research Institute (5)
理论研究
银行跨国并购中的文化差异识别体系研究
陈友滨 (11)
Culture Difference Identification System in Cross-border M&A of Commercial Banks
CHEN You-bin (11)
金融工具公允价值信息的价值相关性
黄 珺 潘美霞 蒋颍歌 (18)
Value Relevance of Fair Value Information of Financial Instruments
HUANG Jun PAN Mei-xia JIANG Ying-ge (18)
中国银行业社会责任分项评价体系——基于利益相关者理论的视角
赵 杨 刘延平 孔祥纬 (24)
Individual Evaluation System on Corporate Social Responsibility Performance of Chinese Banking——On the Basis of Stakeholder Theory
ZHAO Yang LIU Yan-ping KONG Xiang-wei (24)
应用研究
信贷退出的产业结构优化效应研究
黄 伟 史忠良 (31)
Optimization Effect of Credit Withdrawal on Industrial Structure
HUANG Wei SHI Zhong-liang (31)
随机规划模型与商业银行资产的最优配置
刘劲松 蒲延杰 (36)
Stochastic Programming Model and Optimum Asset Allocation of Commercial Banks
LIU Jin-song PU Yan-jie (36)
情景分析在商业银行风险管理中的应用
范洪波 刘培国 (43)
Application of Scenario Analysis in Risk Management of Commercial Banks
FAN Hong-bo LIU Pei-guo (43)
商业银行零售业务客户满意度的影响因素
宋光磊 (49)
An Empirical Research on Customer Satisfaction in Retail Banking
SONG Guang-lei (49)
基于收入模型对商业银行操作风险的估计
陆 静 罗伟卿 (53)
Evaluation on Operational Risk Faced by Commercial Banks Based on Income Model
LU Jing LUO Wei-qing (53)
业务探讨
商业银行操作风险的特征、成因及控制
兰 莉 (58)
The Characteristics, Causes and Control of Operational Risks Faced by Commercial Banks
LAN Li (58)
商业银行省行营业部体制改革探讨
中国工商银行河北省分行课题组 (63)
A Discussion About Institutional Reform on Banking Departments of Provincial Branches of Commercial Banks
The Study Group of ICBC Hebei Branch (63)
商业银行业务运行风险集中监控模式分析
中国工商银行江西省分行课题组 (69)
Centralized Monitoring Pattern on Internal Operational Risk of Commercial Banks
The Study Group of ICBC Jiangxi Branch (69)
调研报告
在全球资本市场打造中国上市银行价值品牌
吕 宇 孙 慧 (76)
Forging Prestigious Brand of Chinese Listed Banks on the Global Capital Market
LV Yu SUN Hui (76)
商业银行拓展地方政府融资平台业务的前景与策略
中国工商银行城市金融研究所课题组
［摘 要］ 商业银行发展政府融资平台业务，能够通过放贷获得经济收益，提高市场份额，密切银政关系，提升市场美誉度。但地方政府融资平台可能给商业银行带来责任主体模糊、杠杆率偏高、偿付风险、流动性风险、项目合规风险和政策性风险等风险；在金融体系层面，融资平台贷款信用承诺实际上是商业银行的自我授信。如果风险控制不当，政府债务风险、房地产开发企业债务风险等有可能集中于商业银行，使后者成为风险集聚的洼地。发展融资平台业务，应合理利用资产证券化，严格授信制度，采用银团贷款，加强财务监督，以及探索投资市政债和利用直投方式灵活介入项目等。
［关键词］ 商业银行；地方政府融资平台；地方政府融资平台贷款；财政担保；金融风险
［Abstract］ Improving services for local-government financing platforms brings considerable benefits for commercial banks, such as increasing interest income on loans, increasing market share, consolidating government-bank relations and enhancing market reputation. At the same time, local-government financing platforms may also trigger off some risks for commercial banks, such as ambiguous responsibility subject, high leverage, repayment risk, liquidity risk, compliance risk, as well as policy risk. As for the financial system, the secured loans to local-government financing platforms are actually self-credit-rating of commercial banks. Once risks fail to be controlled properly, the debt risks of governments and estate enterprises may transfer to banks, and commercial banks will become the focus of risk accumulation. In the process of developing the financing platform business, commercial banks should properly utilize asset securitization, rigorously enforce credit rating regulations, adopt syndicated loan pattern, intensify financial supervision and explore various approaches to participating in projects, such as municipal bonds and direct investment.
［Key words］ commercial bank; local-government financing platform; loans for local-government financing platform; guarantee of public finance; financial risk
银行跨国并购中的文化差异识别体系研究
陈友滨
［摘 要］ 在跨国并购中，并购银行将面临民族文化和企业文化双重差异和冲突带来的挑战，而且缺乏对文化差异的理解和管理是并购失败的首要原因。在并购实施中，我们有必要把文化整合与业务技术整合看成截然不同但又紧密相关的两个领域，而构建文化差异识别体系是文化整合的基础。本文从感知跨国并购中的文化差异冲突和融合入手，提出构建文化差异识别体系应以整合战略执行为导向，突出促成行为改变的关键要素；提出了涵盖人本文化、处事文化、沟通文化等角度，共7个维度、22种偏好的文化差异识别体系的基础框架。
［关键词］ 银行并购；跨国并购；文化差异识别；人本文化；处事文化；沟通文化
［Abstract］ In the process of cross-border M&A, banks face the challenges brought by double difference and conflict in national culture and corporate culture. Moreover, the lack of understanding and management in culture difference is the prime element of failure in cross-border M&A. It is necessary to regard culture integration and business integration as two different but closely correlated fields, and establishing an identification system on culture difference is the basis of culture integration. Starting with perceiving culture conflict and synergy, the paper puts forward that constructing culture identification system should be guided by integrating strategy execution and focus on key elements that can promote behavior change. Furthermore, the paper brings forward a framework of identification system on culture difference, which includes three angles, such as human-centered culture, culture on how to handle affairs and communication culture, seven dimensions and twenty-two preferences.
［Key words］ bank merger and acquisition；cross-border M&A；identification on culture difference; human-centered culture; culture on how to handle affairs; communication culture
金融工具公允价值信息的价值相关性
黄 珺 潘美霞 蒋颍歌
［摘 要］ 本文以会计信息决策有用性的计量观为基础，通过实证方法对比分析了新企业会计准则实施前后，公允价值是否改进会计信息对公司股票市场价格的影响，以及金融工具的公允价值信息与历史成本对公司股票市场价格的影响；新准则实施后公允价值变动损益对公司的股票市场价值的影响。研究结果表明：在引入公允价值计量属性后，盈余信息和净资产账面价值对模型的整体解释能力有所提高；公允价值计量的金融工具具有显著的增量价值相关性和相对价值相关性，投资者在投资决策时已经开始考虑公允价值因素，金融工具公允价值信息具有价值相关性。
［关键词］ 金融工具；公允价值；价值相关性；公司股票市场价值
［Abstract］ From the measurement perspective of the effectiveness of accounting information, the paper empirically contrasts whether fair value measurement can promote the impact of accounting information on stock prices before and after the implementation of new enterprise accounting standards. Moreover, the paper analyzes the influence of fair value information and historical costs of financial instruments on stock prices and how the profit and loss of fair value changes impact stock prices after the implementation of new enterprise accounting. The results show that after the introduction of fair value measurement, the earnings information and the net asset book value improve the overall explanatory ability of the model, and the incremental value relevance and relative value relevance of financial instruments have been remarkably improved. Investors have started to consider fair value factor in the process of decision-making, and fair value information of financial instruments possesses value relevance.
［Key words］ financial instrument; fair value; value relevance; stock price
中国银行业社会责任分项评价体系——基于利益相关者理论的视角
赵 杨 刘延平 孔祥纬
［摘 要］ 企业社会责任的履行绩效已影响到企业的可持续发展和相关者的切身利益，利益相关者理论已与企业社会责任理论实现了全面融合。建立以利益相关者理论为指导思路，以“分项评价”替代“总体评价”的评估模式，以客观性指标、半客观性指标、否决性指标等“三位一体”的计量指标体系，是全面、客观地评价中国银行业社会责任的履行状况的有效途径。在此基础上，本文构建了涵盖投资者、员工、消费者、商业伙伴、政府和社会公众与所在社区六方面利益相关者的银行业企业社会责任指标体系，并提出建立“中国银行业履行社会责任年度分项排行榜”的构想。
［关键词］ 企业社会责任；中国银行业；利益相关者；分项评价
［Abstract］ Given that the performance of corporate social responsibility (CSR) affects an enterprise--s sustainable development and the interests of its stakeholders, researches on performance evaluation of CSR is increasingly focusing on stakeholder theory. A separate evaluation system, consisting of objective indicators, semi-objective indicators and subjective indicators, can be established under the guide of stakeholder theory to substitute overall evaluation pattern, which can be used to comprehensively and objectively evaluate the performance status of CSR in Chinese banking. Then the paper establishes a CSR performance evaluation system for the banking which covers six main stakeholder groups——investors, employees, consumers, business partners, government and the public and communities. An idea of “Annual Individual Ranking List of CSR Performance of Chinese Banking” is also proposed at the end of the paper.
［Key words］ corporate social responsibility; Chinese banking; stakeholder; individual evaluation
信贷退出的产业结构优化效应研究
黄 伟 史忠良
［摘 要］ 基于1999~2008年的数据，利用协整分析和格兰杰（Granger）因果检验法，选择中国工商银行江西省分行公司贷款余额来表示信贷退出的指标，对银行信贷退出对产业优化升级的影响进行实证研究。结果表明:信贷退出对产业结构调整具有十分重要的作用，推动了产业结构的优化升级，实施信贷退出后信贷结构发展的方向与产业结构升级的方向是一致的，银行信贷退出对产业结构优化升级具有长期稳定的线性关系，信贷退出是产业结构优化率提高的格兰杰成因。但是，我们也不能将产业结构调整的任务都系于银行信贷退出机制的完善和信贷结构的调整上。
［关键词］ 信贷退出；产业结构优化；工商银行江西省分行
［Abstract］ By using the data from 1999 to 2008, cointegration analysis and Granger Causality Test, the paper empirically analyzes the influence of credit withdrawal on the industrial optimization and upgrade, and the balance of loans of ICBC Jiangxi Branch is used to reflect credit withdrawal. The results show that credit withdrawal significantly influences the adjustment of industrial structure and pushes forward the optimization and upgrade of industrial structure. The development direction of credit structure after implementing credit withdrawal is in line with that of the upgrade of industrial structure. There is a long-term and stable linear relationship between bank's credit withdrawal and the optimization and upgrade of industrial structure, and the former is the Granger cause of the improvement of the latter. However, the adjustment of industrial structure should not fully rely on the improvement of credit withdrawal mechanism and the adjustment of credit structure.
［Key words］ credit withdrawal; the optimization of industrial structure; ICBC Jiangxi Branch
随机规划模型与商业银行资产的最优配置*
刘劲松 蒲延杰
［摘 要］ 有关商业银行资产负债管理模型的研究表明，基于多阶段带简单补偿的资产负债随机模型适合现阶段中国商业银行的资产负债管理问题。本文建立了三大国有上市商业银行的简化资产负债管理模型，运用遗传算法进行运算求解。模型结果能反映商业银行资产配置的基本变化趋势；贷款配置比例始终大于债券投资比例，表明银行仍然立足于传统信贷业务；三大商业银行的最优资产配置略有差异。考虑到商业银行资产收益率以及存款负债流的不确定性，实证结果表明该模型对实际管理决策具有现实指导意义。
［关键词］ 商业银行；资产负债管理模型；资产配置
［Abstract］ Researches on asset-liability management of commercial banks show that multi-stage stochastic programming model is suitable for current asset-liability management issues faced by Chinese commercial banks. The paper constructs a simplified asset-liability stochastic programming model for the three large listed state-controlled commercial banks and uses advanced genetic algorithm to obtain the solution. The results of the model can reflect the basic trend of asset allocation of banks. The fact that the proportion of loans is always higher than that of bond investment indicates that traditional credit business is still the core business of banks. The optimum asset allocation policies of the three banks are slightly different. In view of the uncertainties of ROA and liability cash flows of commercial banks, the empirical results possess practical instruction significance for commercial bank--s decision-making.
［Key words］ commercial bank; asset-liability management model; asset allocation
情景分析在商业银行风险管理中的应用
范洪波 刘培国
［摘 要］ 高级计量法（AMA）是商业银行操作风险计量方法的发展趋势，损失数据的数量和质量影响着AMA模型计量结果的准确性，进而决定了银行操作风险资本要求水平。作为一种前瞻性的风险管理方法，情景分析可以弥补银行内部损失数据不足的问题，同时综合专家经验，在一定程度上克服了VaR模型本身的缺陷。在探讨情景分析方法论的基础上，本文以部分国际同业的实践为例介绍了情景分析的应用流程，并指出国内银行要实施情景分析，必须重视并积极推进历史损失数据的积累，对数据的应用应循序进行，并不断加强对分析人员的培养。
［关键词］ 商业银行；情景分析；操作风险；高级计量法；损失数据
［Abstract］ Advanced Measurement Approach (AMA) will be the trend in measuring operational risk faced by commercial banks. The quantity and quality of loss data influence the accuracy of results of AMA model and then determine operational risk capital charge. As a foresight risk management method, scenario analysis can make up the deficiency of internal loss data and overcome the inherent shortcoming of VaR model with combination of experts' opinions. On the basis of exploring the methodology of scenario analysis, the paper expounds the application process of scenario analysis with cases of some international peers. The paper points out that to implement scenario analysis, domestic commercial banks should pay attention to and vigorously push forward the accumulation of historical loss data, apply the data in risk management step by step and constantly strengthen analysis staff training.
［Key words］ commercial bank; scenario analysis; operational risk；Advanced Measurement Approach；loss data
商业银行零售业务客户满意度的影响因素
宋光磊
［摘 要］ 本文通过对客户满意度相关文献的回顾，结合当前我国银行零售业务的现状，建立了零售业务客户满意度指标体系，并在问卷数据的基础上，对客户满意度的影响因素进行实证研究，发现等候时间、满意水平、服务态度和环境满意度是影响客户满意度的重要因素。考虑到我国银行业的实际经营情况，本文提出了改善商业银行零售客户满意度的四项措施：加强自助服务体系建设，以客户为中心梳理业务流程，尽量降低排队时间；提升处理投诉的客户满意度，消除客户的不满意程度；从培训员工态度入手提升整体服务质量；积极改善银行营业环境。
［关键词］ 商业银行；零售业务；客户满意度；排队时间；服务质量
［Abstract］ On the basis of reviewing the theories about customer satisfaction and combining the status quo of Chinese retail banking, the paper establishes a customer satisfaction index system for retail banking and empirically studies the factors affecting customer satisfaction by using the questionnaire data. The results show that waiting time, satisfaction degree, service attitude and environment are four most important factors affecting customer satisfaction. The paper puts forward four measures to improve customer satisfaction in retail banking: (1) strengthening the self-service system and organizing a customer-oriented business process to reduce customers' waiting time; (2) improving customer satisfaction in complaint disposal to eliminate customer dissatisfaction degree; (3) upgrading the overall quality of service beginning with service attitude; (4) actively ameliorating business environment in banks.
［Key words］ commercial bank; retail banking; customer satisfaction; waiting time; service quality
基于收入模型对商业银行操作风险的估计
陆 静 罗伟卿
［摘 要］ 操作风险潜在于商业银行经营管理之中，加重了金融机构的脆弱性，给银行的风险监控造成了巨大威胁。在对比各类操作风险计量方法的基础上，本文采用自上而下的收入模型，运用2000~2009年5家上市银行的财务指标数据，构建了面板回归模型，对中国商业银行的操作风险进行了估计，并以深发展和浦发银行为例对这两家商业银行操作风险的发展状况作了深入分析。研究发现，国内商业银行8.62%的收益波动是由操作风险所导致的，尽管目前商业银行操作风险估计值与核心资本之比偏高，但仍是可控的，银监会的监管措施对商业银行风险管理的作用是及时且有效的。
［关键词］ 操作风险；商业银行；收入模型；资本充足率；不良贷款率
［Abstract］ Operational risk, a potential risk in the operation and management of commercial banks, exacerbates the fragility of financial institutions and poses a serious threat to the risk monitoring of banks. On the basis of comparing various measurement methods of operational risk, the paper chooses a “top-down” income model and uses the financial data of 5 listed banks from 2000 to 2009 to establish a panel model to assess the operational risk faced by Chinese commercial banks. Moreover, the paper analyzes in depth the development status of Shenzhen Development Bank and Shanghai Pudong Development Bank in operational risk. The results show that 8.62% of revenue volatility of domestic commercial banks results from operational risk. Although the ratio of operational risk capital to Tier 1 capital is slightly higher than normal standard, it is still controllable, which indicates that the supervision measures adopted by CBRC has a timely and positive effect on the risk management of commercial banks.
［Key words］ operational risk; commercial bank; income model; capital adequacy ratio; non-performing loan ratio
商业银行操作风险的特征、成因及控制
兰 莉
［摘 要］ 商业银行操作风险的主要形式是欺诈，具有反控制、容易被“能人”所做、“营销”所为以及“指标”所驱的外包装所掩盖等特征；商业银行操作风险的成因包括内控的过程管理流于形式，对操作风险的认识不足，传统的管理观念和习惯影响组织执行力的发挥，对操作风险的管控缺乏历史数据支持和经验积累，对风险管理控制工作的职责认识存在偏差，业务创新加大操作风险概率等。商业银行为了改进操作风险管控体系必须加强内部控制制度建设，提高内控部门在防范银行操作风险中的监督作用，完善银行的公司治理结构，构建内控发展系统的整体框架。
［关键词］ 商业银行；操作风险；巴塞尔新资本协议；风险管控体系
［Abstract］ Fraud, the main manifestation of operational risk in commercial banks, is easily covered up by various superficial appearance, especially human factors, so it possesses such characteristics as anti-control and artificial influence. The causes resulting in operational risk include superficial process management of internal control, insufficient understanding on operational risk, negative impact of traditional management idea and customs on executive ability of organizations, lack of historical data and experience accumulation required by controlling operational risk, understanding error in the duty of monitoring operational risk and an increase in operational risk probability triggered by business innovation. To improve the monitoring system of operational risk, commercial banks should strengthen the construction of internal control system, enhance the monitoring function of internal control department in guarding against operational risk, upgrade bank's corporate governance, and establish an overall scheme to develop internal control system.
［Key words］ commercial bank; operational risk; Basel II; risk control system
商业银行省行营业部体制改革探讨
中国工商银行河北省分行课题组
［摘 要］ 省行营业部在银行业务发展中占据举足轻重的地位，随着金融同业竞争的加剧，其在部分领域出现了市场竞争力减弱的局面。因此，省行营业部体制改革是提升市场竞争力的客观要求。目前中国大型商业银行的省会城市行管理模式呈现各自的特点。借鉴国内外银行体制改革的经验，结合工商银行河北省分行营业部现状，未来改革的思路应是：以提升省行营业部的市场竞争力为核心目标，坚持分步实施、循序渐进、因地制宜的原则，大力推行扁平化改革，明确职能定位，推进管理集中，提高经营效率，释放经营活力，把营业部打造成全省的营销中心。
［关键词］ 商业银行；河北省分行；省行营业部；体制改革；市场竞争力
［Abstract］ Banking departments of provincial branches play a vital role in the banking business development. Under the background of increasingly fierce competition in Chinese banking, the competitiveness of banking departments appears declining in some fields. Therefore, institutional reform on banking departments is the objective requirement of enhancing their competitiveness. Currently, banking departments of large Chinese commercial banks possess their own features. Drawing on the experience of institutional reform of international and domestic banking and combining the characteristics of banking department of ICBC Hebei Branch, the paper proposes a reform framework as follows: with a core goal of improving the competitiveness of the banking department and according to the principals of implementing step by step and suiting measures to local conditions, ICBC banking departments should vigorously promote flat management innovation, identify its function positioning, advance management centralization, improve operational efficiency, release the operating vitality and make themselves the marketing centers in each province.
［Key words］ commercial bank; Hebei Branch; banking department of provincial branch; institutional reform; competitiveness
商业银行业务运行风险集中监控模式分析
中国工商银行江西省分行课题组
［摘 要］ 近年来，我国商业银行在业务运行过程中产生的损失事件日益繁多，且多为内部因素形成，其损害更隐蔽、更常见，破坏力也更大。本文以工商银行江西省分行实施全省集中监控运行风险为例，深入剖析了业务运行风险理论基础和运行风险发生机理，探讨了业务运行风险省行级集中监控模式的应用对象、实施路径、管理流程以及进一步推进风险集中监控纵深发展的措施。为了深入推进业务运行风险集中监控模式，应当进一步树立风险管理全局意识，加快风险分级管理机制及风险评估机制建设，加强监控队伍建设。
［关键词］ 商业银行；工商银行；运行风险；风险集中监控；监督体系改革
［Abstract］ In recent years, loss events resulting from operational risks in commercial banks are getting more and more, and most are brought by internal factors, so the damages are more concealed, more common, and more serious. With the case of ICBC Jiangxi Branch in implementing province-widely centralized monitoring on internal operational risk, the paper scrutinizes in-depth the theoretical basis and action mechanism of internal operational risk, and analyzes the application object, implementing route and management process of centralized monitoring pattern on provincial branch level. To promote the further development of centralized monitoring pattern on internal operational risk, commercial banks should establish an overall awareness on risk management, accelerate the construction of hierarchical risk management mechanism and risk assessment mechanism, and strengthen monitoring staff building.
［Key words］ commercial bank; ICBC; internal operational risk; centralized monitoring on risks; the reform of supervision system
在全球资本市场打造中国上市银行价值品牌
吕 宇 孙 慧
［摘 要］ 商业银行投资者关系管理是上市银行与资本市场沟通的桥梁。在全球金融格局正发生着深刻变革与重构的时期，中国上市银行投资者关系管理部门在某种程度上肩负着通过向全球资本市场介绍自身运营，提升全球投资者对中国金融和银行体系市场化运营理解的使命。上市银行投资者关系管理部门应在推进与境内外投资者全方位沟通的基础上，维护和拓宽上市银行融资渠道；在充分阐述财务业绩的同时，向全球投资者提供多方位信息；提高管理层及相关业务部门对投资者关系工作的参与；加强对资本市场的监测，有效管理投资者预期，妥善处理特殊和突发事件等。
［关键词］ 上市银行；资本市场价值；投资者关系管理；后金融危机时代
［Abstract］ Investor relations management (IRM) is a bridge that connects listed banks with capital market. The global financial crisis has triggered profound changes of and reconstruction global financial pattern. IRM departments of Chinese listed banks are obliged, to some extent, to introduce the market-oriented operation pattern of China's financial system and banking sector on global capital market to help global investors have a better understanding. It is the responsibility of IRM departments of Chinese listed banks to fully understand the opportunities and challenges brought by the transition of global economic and financial pattern and grasp the opportunities to enhance the competitiveness and brand prestige of Chinese listed banks and boost global investors' confidence in China's economy and financial reform, as well as commercial banks' operation.
［Key words］ listed bank; the value on capital market; investor relations management; era of post-financial-crisis