农村商业银行是国内银行体系的重要组成部分，其有效运行是保证国内金融体 制改革成功的关键。农信社自进入农村商业银行转型的新阶段以来，即刻体现了灵 活的决策机制和高效的管理优势，但也存在许多问题，如股权结构，内部监督、激 励机制以及信息披露等还是需要逐渐的进行完善。随着现今经济发展步伐加快，在 县域经济地位中比较重要的农村商业银行，不得不面临新的困境和挑战。W 农商行 经历过企业的深化改革，从信用社转型成为农商行，遇到国家宏观经济面临产业结 构升级调整的变化，还处在一个阵痛期，经营绩效面临着考验，有长期下滑的迹象。 公司治理中，股权结构占据着关键核心的地位，科学合理的股权结构对于商业银行 的稳健经营是必不可少的。经营绩效是公司治理的外在表现，股权结构是公司治理 中基础性的一环。对于商业银行来说，改善治理效果最终体现在银行经营绩效的提 高上，因此，本文从公司治理角度出发，对 W 农村商业银行股权结构进行分析，结 合 W 农村商业银行经营绩效指标作为参照，对 W 农村商业银行股权结构影响进行分 析研究并提出优化措施，从而为 W 农商行的经营发展提供助力。 本文以 W 农商行作为案例进行研究，对该银行股权结构进行深入分析。首先, 本文对研究背景进行了叙述，查找了相关国内外的已研究的成果来作为本文研究的 基础。其次,本文对相关的概念及理论进行论述与界定，其中包含农商行、股权结 构、公司治理相关概念，运用了委托代理理论、产权理论等相关理论。再次,本文 从两个方面对 W 农商行股权结构进行分析，一是从 W 农商行发展历程、公司治理结 构两个层面对公司治理情况进行了分析。二是从股权性质、股权集中度、股权制衡 度三个角度对 W 农商行股权结构特征进行分析。最后，本文选取资产收益率 ROA、 净资产率 ROE 作为衡量经营绩效的指标，对 W 农商行股权结构对经营绩效的影响进 行了详细的分析。在对 W 农商行股权结构研究的基础上，归纳整理了该行股权结构 存在的问题，从而针对性地提出优化策略，达到实践和理论的结合，理论到实践， 实践回归理论。 关键词：农村商业银行；公司治理；股权结构I ABSTRACT Rural commercial banks are an integral part of the domestic banking system, and their effective operation is the key to ensuring the success of the domestic financial system reform. Since entering the new stage of the transformation of rural commercial banks, the rural credit cooperatives have immediately demonstrated flexible decision-making mechanisms and efficient management advantages. With the development of the economy, the business risks of the rural commercial banks are gradually exposed, the economic environment continues to decline and the fierce market competition atmosphere brings new challenges to the rural commercial banks that are the main financial force for county economic development. The prevention of systemic financial risks is Under the current situation of the three major battles, the banking industry returns to the source, focuses on the main business, serves the real economy, strengthens corporate governance is the current situation, and the shareholding structure is at the core of bank corporate governance. A reasonable shareholding structure not only helps. Continued and stable operation of the bank can also guarantee the interests of shareholders and regulate the behavior of shareholders. W Rural Commercial Bank has experienced deepening reform of enterprises. It has been transformed from a credit cooperative to a rural commercial bank. In the face of changes in the adjustment and adjustment of the industrial structure of the country's macro economy, it is still in a period of pain, and its business performance is facing a test, with a long-term downward trend. . The ownership structure is regarded as the basis of corporate governance research, and the result of strengthening corporate governance of commercial banks is ultimately reflected in the improvement of bank operating performance. Therefore, this paper analyzes the equity structure of rural commercial banks from the perspective of corporate governance. W rural commercial banks operating performance indicators as a reference, analysis of the impact of W rural commercial banks' equity structure and propose optimization measures. This paper takes W Agriculture and Commercial Bank as a case study and conducts an in-depth analysis of the bank's shareholding structure. First of all, this paper describes the research background and finds the relevant research results at home and abroad as the basis of this study. Secondly, this paper discusses related concepts and theories, including the concepts of rural commercial banks, shareholding structure and corporate governance,II and uses relevant theories such as principal-agent theory and property rights theory. Thirdly, this paper analyzes the ownership structure of W Rural Commercial Bank from two aspects. First, it analyzes the corporate governance from the development of W Rural Commercial Bank and the corporate governance structure. Secondly, it analyzes the characteristics of WC's shareholding structure from three aspects: equity nature, equity concentration and equity balance. Finally, this paper selects ROA and ROE as indicators to measure business performance, and analyzes the impact of WC's shareholding structure on business performance. On the basis of the research on the ownership structure of W Rural Commercial Bank, the problems of the existing problems are summarized and summarized, and the countermeasures and suggestions for strengthening the equity optimization are put forward. The combination of practice and theory, theory to practice, and practice of regression theory are put forward. KEYWORDS: rural commercial banks; corporate governance; ownership structure1 目 录 第一章 绪论 .............................................1 第一节 研究背景与意义..........................................1 一、选题背景 ................................................1 二、研究意义 ................................................2 第二节 文献综述................................................3 一、国外相关文献综述 ........................................3 二、国内相关文献综述 ........................................4 三、文献评述 ................................................5 第三节 研究内容与方法..........................................5 一、研究内容 ................................................5 二、研究方法 ................................................6 第四节本文的创新之处和不足......................................7 第二章 相关概念界定与理论基础 ...........................8 第一节 相关概念界定............................................8 一、农商行 ..................................................8 二、股权结构 ................................................8 三、公司治理 ................................................9 第二节 相关理论基础...........................................10 一、委托代理理论 ...........................................10 二、产权理论 ...............................................10 三、信息不对称理论 .........................................11 第三节 股权结构与公司治理的关系...............................12 一、股权结构与公司治理 .....................................12 二、股权结构与经营绩效 .....................................13 第三章 W 农商行股权结构现状分析 .........................15 第一节 W 农商行公司简介 .......................................15 一、W 农商行发展历程........................................152 二、W 农商行公司治理结构....................................16 第二节 W 农商行股权性质特征分析 ...............................19 一、股权构成单一 ...........................................19 二、民营股所占比例相对高 ...................................19 三、股东趋于非农化 .........................................20 第三节 W 农商行股权集中度特征分析 .............................21 一、股权结构分散 ...........................................21 二、第一大股东持股比例偏低 .................................22 第四节 W 农商行股权制衡度特征分析 .............................23 一、前三大股东持股比例波动较小 .............................23 二、股权制衡度减弱 .........................................23 第四章 W 农商行股权结构优化分析 .........................24 第一节 股权性质优化分析.......................................24 一、股权性质影响分析 .......................................24 二、股权性质优化措施 .......................................25 第二节 股权集中程度优化分析...................................26 一、股权集中度影响分析 .....................................26 二、股权集中度优化措施 .....................................27 第三节 股权制衡度优化分析.....................................28 一、股权制衡度影响分析 .....................................28 二、股权制衡度优化措施 .....................................29 第四节 提高公司治理水平.......................................30 一、规范治理结构和制衡机制 .................................30 二、培育良好的外部治理环境 .................................31 第五章 总结与展望 ......................................32 第一节 总结...................................................32 第二节 展望...................................................33