Rational Cost Inefficiency and Convergence in Chinese Banks
Prof. Kent Matthew（Cardiff University, UK）
This paper has used non-parametric methods to conduct an analysis ofcost inefficiency in a sample of Chinese banks. Two models wereconsidered. Both had a common set of inputs but outputs in the firstmodel were performing loans, other earning assets and NPLs as a badoutput, and in the second model were total earnings assets, nonperformingloans, as a bad output, and non-interest earnings. The estimatesof bank inefficiency were obtained using a homogeneous bootstrappingmethod to enable statistical inference and finite sample biascorrection. Cost inefficiency was partitioned into technical (X-) inefficiencyand allocative inefficiency. We find evidence to suggest thatthe allocative inefficiency is dominated by excess labour. This confirmsthe findings of Asmild and Matthews (2012), but our findings also showthat Chinese banks have been improving performance by reducing bothtypes of inefficiency. However, the state-owned banking sector has beenreducing both types of inefficiency at a slower rate than joint-stockcommercial banks.
Kent Matthews是英国卡迪夫大学商学院金融学教授，宁波诺丁汉大学兼职教授，同时拥有英国Sir Julian Hodge Professor of Banking and Finance的荣誉头衔。他从事银行与金融方面研究与研究三十余年，出版专著17本，主持各项科研项目13项，发表期刊论文近百篇，其中大部分发表于European Economic Review，Journal of Money, Credit and Banking，Journal of Bank and Finance，International Review of Financial Analysis和Journal of International Financial Markets, Institutions and Money等相关专业顶级期刊上。Kent Matthews教授在全球银行与金融研究领域拥有极高的声望，同时也是中国银行业研究专家，是国家自然科学基金委“中英合作项目”专家之一。他曾参与英国国家经济与社会研究所和英格兰银行的政策制定研究，也曾担任香港金融管理局的访问学者。