Joint-stock commercial banks are a type of commercial banks. There are 12 national joint-stock commercial banks in China: China Merchants Bank, Shanghai Pudong Development Bank, China CITIC Bank, China Everbright Bank, Huaxia Bank, Minsheng Bank, China Guangfa Bank, Industrial Bank, Ping An Bank, Zheshang Bank, hengfeng bank and Bohai Bank.
Joint-stock commercial banks have become a dynamic new force in China's commercial banking system and an indispensable part of the development of banking industry and even the national economy.
The joint-stock commercial banks, which have been established for nearly 20 years, rank higher than the four state-owned commercial banks with a long history and huge scale, which in itself shows the institutional competitive advantage of joint-stock commercial banks in China's financial market competition. Therefore, under the new situation and pressure, state-owned banks must explore new ideas for deepening system reform. In February 2002, the national financial work conference proposed that state-owned banks should establish a good corporate governance mechanism and carry out shareholding system reform. On June 5438+ 10, 2003, the resolution of the Third Plenary Session of the 16th CPC Central Committee further clarified that qualified state-owned commercial banks should be selected for shareholding system reform, so as to speed up the disposal of non-performing assets, enrich capital and create listing conditions. Taking the road of shareholding system reform is the strategic choice for state-owned banks to get out of the predicament.
1, institutional competitiveness
Differences in market competitiveness brought about by institutional differences-differences in corporate governance structure-both joint-stock companies and limited liability companies are legal entities based on the legal person property formed by shareholders' contributions. Due to the large number of investors or shareholders (even millions of modern large companies), the shares are quite scattered, and the separation of ownership and operational control is becoming more and more obvious. Therefore, the company is not directly managed by shareholders, but managed by a few people through a series of agency relationships and institutional arrangements, which is the corporate governance structure of the company. Corporate governance structure is closely related to corporate property rights system. In a sense, the corporate governance structure is the organizational structure of the company's property rights system, and at the same time, the effective arrangement of the company's property rights is the basic premise for the company to play its role. The fundamental reason for the proposition of governance structure lies in the formation of the property right system of modern enterprise legal person. Because the modern enterprise property right system is a typical asset property right principal-agent system, there will be separation of rights and diversification of corresponding rights subjects, so mutual supervision and checks and balances have become an important issue. Therefore, to understand the governance structure, we must first grasp the nature and characteristics of corporate property rights.
2. Differences in corporate governance
The corporate governance structure of modern enterprises consists of four parts: the shareholders' meeting, the board of directors, the board of supervisors and the executive organ composed of senior managers. Among them, the shareholders' meeting elects directors to form a board of directors, and entrusts their assets to the board of directors for custody. The board of directors is the highest decision-making body of the company and has the right to hire senior managers and the right to reward and punish them. At the same time, the shareholders' meeting elects supervisors to form a board of supervisors, which is responsible for supervising and inspecting the financial situation and business implementation of the stock market; The executive organization composed of senior managers is responsible for the daily operation of the company within the scope authorized by the board of directors.
It can be seen that the corporate governance structure is the distribution of rights and responsibilities of different participants (including the board of directors, managers, shareholders and other stakeholders) and a set of rules and procedures for handling corporate affairs.
3. Differences in incentive and restraint mechanisms.
Since 1990s, the main income of American banking executives has come from medium and long-term incentives such as stock options. It is the direction of executive compensation reform in the process of improving the governance structure of China's banking industry to expand the ratio of variable part to fixed part and increase the gap of internal compensation level.
When perfecting the corporate governance structure. On the one hand, an effective incentive and restraint mechanism must be established. Reasonable performance evaluation system and effective incentive mechanism. It is an effective guarantee to closely combine the behavior of managers and employees with the bank's operating results to ensure the realization of the bank's operating objectives. On the other hand, it is necessary to improve the audit and evaluation mechanism. Strengthen transparency construction according to prudent accounting principles. Make effective use of the work guidelines formulated by internal and external auditors. On the basis of performance evaluation, establish an incentive mechanism linking the remuneration of directors and managers with company performance and personal performance to encourage directors to be diligent and conscientious. Maintain the stability of managers, and ensure the consistency of salary methods with the strategic objectives, management environment and corporate culture of banks.