Experiences and Challenges in the Development of the Chinese by Douglas Cumming, Alessandra Guariglia, Wenxuan Hou, Edward

By Douglas Cumming, Alessandra Guariglia, Wenxuan Hou, Edward Lee

This publication provides a number of the newest educational examine on China's capital markets, demonstrating many of the significant concerns at present being confronted.

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Taking into consideration the characteristics of our data set and the purposes of this study, we decided to apply this classical frontier model to the panel of Chinese banking data on which our empirical analysis is based. We start by outlining a baseline cost frontier model (named M1) for measuring the efficiency of Chinese banks. Then we discuss a number of alternative stochastic cost frontier models that have been developed to account for sample heterogeneity. The basic stochastic cost frontier model for a panel data set can be written as: lnTCit = f (Qit, Wit; β) + vit + uit i = 1, ...

If there is ownership change effect due to the merger and acquisition, we expect that the estimated coefficients for NMA should be significantly different from zero. , 2005; Lin and Zhang, 2009; Firth, Li, and Wang, 2014). To control for government policy changes, we add two government policy variables: the interest rate policy of China’s central bank (INT) and the reserve requirement ratio (RRR). In China, interest rates of RMB deposits and loans remain under the government’s control. The government’s interest rate policy has a direct and immediate influence on banks’ traditional business income.

And † represent significance at the 1 per cent, 5 per cent, and 10 per cent levels, respectively. ROA ROE NTR* NTR NFC NIM LIQ PLL EQR lnASSETS ROA Panel B: Correlation matrix All Big 5 Corp City Rural Foreign No. 2 Percentage of non-traditional activities income to total operating income by bank types Plots the average non-traditional activity income to total income ratios by bank types over the sample period of 2000 to 2013. NTR is the average ratio of adjusted non-traditional business income to the total operating income NFC is the average ratio of net fees and commissions to the total operating income.

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