I L农商银行公司治理问题研究 工商管理 专业 研究生 苏天君 指导教师 徐莉 摘要：农商银行作为我国银行业的重要组成部分，承担着农村金融主力 军的 责任。农商银行的前身是20世纪50年代成立的农村信用社，农村信用社经历了 由集体所有制到合作制，再到股份制的重大转变，产权性质不断变化，大部分的 县级农村信用 社改制组建成为县级农村商业银行股份有限公司，逐步构建起现代 化的公司治理体系。但是应该看到，农村信用社改制组建农商银行时间并不长， 公司治理正处于持续探索阶段 ，公司治理的实践经验并不丰富。由于农商银行产 权结构、管理体制等原因，导致农商银行公司治理“形似”而非“神似”，随着经 济持续下行、利率市场化不断推进、金融互 联网不断发展、行业竞争不断加剧， 农商银行资本实力弱、金融科技发展滞后、风控能力不足等方面的劣势逐渐显现， 迫切需要从顶层出发，完善公司治理，推动农商银行持续 、稳健、健康、安全发 展。 本文梳理了农商银行改革发展历程，分析农商银行的产权结构、管理体系变 迁,认为农商银行公司治理最重要的影响因素是产权结构、管理体制，阐 述了当前 农商银行的三大主要管理模式：省级统一法人农商银行，省、县两级各为法人的 农商银行，省联社+县（市）级农商银行，并对三种管理模式下农商银行公司治理 进行 了分析。 L市辖内三家县级农村信用社（农商银行）于2017年合并组建L农商银行。 本文试图以公司产权理论，委托代理和不对称信息理论，激励与约束等理论为基 础，分析L农 商银行公司治理的现状，系统梳理存在的问题：公司治理存在形式 化现象；过度分散的股权结构导致所有权人治理缺失；现行管理体制导致公司治 理缺乏独立性；董事会决策职 能难以有效发挥；治理水平待提升，专业委员会履 职不到位；高级管理层缺乏来自股东的激励约束；信息披露不充分等问题。并依 据上述理论提出了完善公司治理的路径和方法 ：明确公司治理的目标，避免公司 治理形式化；适时引进战略投资者，优化公司治理结构；理清管理关系，保证公 司治理的相对独立；加强董事会建设，全面落实董事会职能； 强化专业培训和履 四川师范大学硕士学位论文 II 职评价，提升治理水平；强化股东对高级管理层的激励约束；有效信息披露，强 化相关各方监督。 关键词：农商银行 产权 公 司治理 代理成本 ABSTRACT III ABSTRACT As an important part of China's banking industry, rural commercial banks bear the responsibility of the main force of rural finance. The predecessorpqrs of rural commercial bank are the rural credit unions established in the 1950s. The rural credit unions have experienced a major change from collective ownership to cooperative system, and then to the joint-stock system. The nature of their property rights is constantly changing. Most of the county-level rural credit unions have been transformed into the incorporated companies of county-level rural commercial bank, gradually building a modern corporate governance system. However, it should be noted that the reform and establishment of rural commercial banks do not take long, corporate governance is in the stage of continuous exploration, and the practical experience of corporate governance is not rich. Due to the property right structure, the management system of rural commercial banks and so forth, the corporate governance of rural commercial banks is "similar" rather than "lifelike". With the continuous decline of economy, the marketization of interest rates, the rise of financial Internet, the intensification of industry competition, the weak capital strength of rural commercial banks, the lag of financial technology development, the lack of risk control capability and so on, there is an urgent need to improve corporate governance from the top level for promoting the sustained, steady, healthy and safe development of rural commercial banks. This paper combs the reform and development of rural commercial banks, and analyzes the property right structure and management system changes of rural commercial banks. The author thinks that the most important influencing factors of their corporate governance are the property right structure and management system. he expounds the three main management modes of modern rural commercial bank, including provincial unified corporation, independent provincial corporation and independent county corporation, and provincial union but with independent city or county corporation, and analyzes these three modes. Three county-level rural credit unions (rural commercial banks) were merged to form L Rural Commercial Bank in 2017.Based on the theories of corporate property rights, agency by agreement and asymmetric information, incentive and restraint and so 四川师范大学硕士学位论文 IV forth, this paper tries to analyze the present situation of corporate governance of L Rural Commercial Bank, and systematically sorts out the existing problems: the formalized phenomenon of corporate governance, the excessive decentralized ownership structure leading to the lack of owner’s management, the difficulty for the board of directors to play the decision-making function effectively, the current management system leading to the lack of independence of corporate governance, its managent level needing to be improved, the failure of its professional committee to perform duties, the lack of incentive restraint from shareholders on executives, information disclosure not sufficient and so on. According to the above theories, this paper puts forward the ways and methods to improve corporate governance: defining the goal and avoiding the formalization of corporate governance, timely introducing strategic investors and reforming the corporate governance structure, strengthening the construction of the board of directors and comprehensively implementing its functions and powers, clarifying the management relationship to ensure the relative independence of corporate governance, enhancing professional training and performance evaluation to improve the governance level of directors and supervisors, intensifying the restraint of incentive from shareholders on executives, revealing effective information, and strengthening the supervision of all parties concern. Key words: rural commercial bank；property rights；corporate governance； agency cost 目次 V 目 次 摘要 ................................................................. I ABSTRACT ........................................................... III 目 次 ................................................................ V 1导论 ............................................................... 1 1.1研究背景与意义 ................................................. 1 1.1.1 研究背景 ................................................... 2 1.1.2 研究意义 ................................................... 2 1.2国内外研究现状 ................................................. 3 1.2.1 国外研究现状 ............................................... 3 1.2.2 国内研究现状 ............................................... 4 1.2.3 文献评述 ................................................... 5 1.3 研究内容及研究方法 ............................................. 6 1.3.1 研究内容 ................................................... 6 1.3.2 研究方法 ................................................... 7 1.4 创新点和不足之处 ............................................... 7 1.4.1 创新点 ..................................................... 7 1.4.2 不足之处 ................................................... 7 2概念界定和理论基础 ................................................. 8 2.1概念界定 ....................................................... 8 2.2 理论基础 ....................................................... 8 2.2.1 公司产权理论 ............................................... 8 2.2.2 委托代理、信息不对称理论 ................................... 9 2.2.3 激励与约束理论 ............................................ 10 3 L农商银行公司治理现状 ............................................ 12 3.1 农商银行发展历程及现状 ........................................ 12 3.1.1 农商银行发展历程 .......................................... 12 3.1.2 农商银行发展现状 .......................................... 13 3.2 全国农商银行公司治理情况 ..........................