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| 1 |
ID:
137537
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| Summary/Abstract |
From the perspective of officials-and-directors (OADs), who are commonly appointed by the Chinese government to the banks it owns, this paper takes studies of government ownership and banks' behavior to the micro level of boards. We analyze the relationship between the special political connection of the OADs and banks' prudential behavior, using a sample of China's City Commercial Banks during 2006–2010. We further explore the impact of OADs' characteristics and the role of independent directors and female directors. The results indicate that banks with OADs exhibit lower prudential behavior, and the higher is the administrative rank of the OADs, the larger is the effect. And the older is the OADs, the larger is the effect. More importantly, the government ownership of banks does not have a significant and robust influence on their prudential behavior. Meanwhile, independent directors can significantly weaken the effect of the OADs, while female directors can enhance the prudential behavior of banks in the absence of OADs. Finally, our results persist even after controlling for sample selection bias and alternative variable measures. Our research contributes to the practice of improving bank governance and regulating systematic risk.
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| 2 |
ID:
161848
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| Summary/Abstract |
Using data from China's High-Value Payment System, this paper directly and precisely measures interregional capital flows in China and analyzes their spatial correlation. Using social network analysis methods, this study finds a spatial correlation network between interregional capital flows. The closeness of the network is strong and has a high stability. Different provinces exhibit different positions in the network. Beijing, Jiangsu, Shandong, Shanghai, and Zhejiang are at the relative core, while Qinghai, Xinjiang, Guangxi, Anhui, and Tibet are at the periphery. According to a block model, the eastern provinces belong to a bidirectional spillover block, the middle provinces are in a primary beneficial block, and the western provinces are in a net beneficial block. Based on a quadratic assignment procedure regression analysis, the paper concludes that geographical distance and differences in provinces' fixed asset investments, foreign direct investments, and marketization levels are important factors that impact the spatial correlation of capital flows. The conclusions of this paper are significant for the formulation of a regional coordinated strategy in China.
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