Research on Value-Creation Ability of Commercial Banks in
关新红，女，1966年生于黑龙江省伊春市；经济学博士。现为中央财经大学会计学院副教授、硕士生导师，主要从事金融会计学和审计学的教学及理论研究。曾在《会计研究》、《中国财经报》等学术刊物上发表论文近40篇，主编、参编书籍20余本，参加国家自然科学基金等课题研究4项。
摘要
作为我国金融主体的商业银行的市场化改革已经进入到全面提速阶段。产权制度的改革只是为商业银行的发展奠定了制度基础，经营管理水平的提升才是商业银行在激烈的市场竞争中获胜的有力保障。
长期以来，人们一直将创利能力作为衡量商业银行生产能力优劣的主要标准。创利能力是以会计账面利润为计算基础，在没有考虑全部投入资源机会成本的前提下，对商业银行生产能力进行的评价。以创利理念为指导的经营行为极易造成两种负面影响：一种是诱导银行采用扩张“无偿”资本的方法，追求利润的增加，如增加股东资本等，也就是人们通常所说的“圈钱买利润”，这种行为可能会对股东利益造成损害；另一种是在以利润为考核目标的情况下，资本很可能被扭曲的利润收益信号误导，被配置到小于资本机会成本的低效益项目上面，而低效率的资本运转会造成资源配置的浪费，安然事件就是在创利理念指导下经营失败的典型案例。
以创值为导向的经营理念弥补了创利理念的上述缺陷，它力求在充分考虑资本投资机会成本的基础上，创造高于资本机会成本的经济收益。创值能力反映了银行资本的生产能力和经济效益，反映了经营者为所有者增值的能力。通过评价银行的创值能力，可以起到揭示银行经营效益的真实信息，为资本的优化配置与流动提供准确的效益导向信号的作用；同时，以创值能力衡量银行绩效可以避免管理者为追求高额利润指标而引起的短视行为的发生。
从创利理念向创值理念转化，是管理理论发展的必然趋势，是商业银行科学考评经营业绩，提高管理水平的必然选择。
在对商业银行创值能力进行研究的过程中，采用规范分析与实证分析相结合、逻辑分析与比较分析相结合、静态分析与动态分析相结合的研究方法，在查阅大量文献的基础上，搜集翔实的数据和资料，努力吸收、借鉴前人的优秀研究成果，力求科学、客观地衡量商业银行的创值能力，挖掘商业银行价值驱动因素的价值贡献潜力，为提升商业银行的核心竞争力，实现商业价值最大化的经营目标提出合理化建议。
以提升商业银行创值能力为主线，全书分四个部分对商业银行创值活动展开研究。
第一部分为研究的基础（导论和第一章）。在该部分中，首先对商业银行创值能力研究的现实意义及研究中涉及的有关概念进行界定。其次，将商业银行的经营活动纳入到宏观经济运行的轨道中来，结合宏观经济发展形势，对商业银行创值过程中存在的问题，进行更加深入、全面、透彻的研究。再次，商业银行创值能力是多种因素相互影响、共同作用的结果，影响商业银行创值活动的因素既包括宏观因素，也包括微观因素。在进行具体研究之前，对影响商业银行创值能力的诸多要素进行总括分析，为后面的深入研究搭建宏观与微观视角相结合的审视平台。最后，为使商业银行创值能力研究建立在坚实的理论基础上，对创值能力研究涉及的相关理论和方法进行了系统的梳理回顾。
第二部分为研究的主体（第二、三、四、五章），从基于价值链的资源整合、基于作业链的战略成本管理、基于再造理论的流程和组织再造、基于风险管理的创值能力研究等四个方面对提升商业创值能力的具体途径进行详细阐述，提出人力资源和客户是商业银行创值活动最主要的价值驱动和贡献因素，有效的成本管理和较强的风险防范能力可以从节流和降低风险抵减效力的角度提升创值能力，组织和流程再造可以起到优化商业银行创值活动信息及资源传输渠道的作用，同时还提出创值能力的提升是培养和保持商业银行核心竞争力的重要条件。具体内容如下：
第二章，基于价值链的商业银行创值能力研究。本章借鉴价值链理论，从资源整合角度，对提升商业银行创值能力的具体途径进行分析。随着企业边界的扩大，企业拥有的资源已经扩展到企业经营的上游和下游世界，而不再局限于企业内部。根据价值链理论，商业银行的创值参与和贡献要素既包括银行内部的资本要素、物质要素、无形资产要素等，也包括银行外部作为资金供应者和产品消费者的客户。将内外部资源均纳入到商业银行创值活动中统筹安排，发挥创值要素的潜能，是提升商业银行创值能力的关键。本文认为在影响商业银行创值能力的众多要素中，对于创值效果贡献力度较大的两个关键要素为客户和人力资源。
随着经济的发展，客户在经济活动中的角色定位已经发生了巨大变化，客户不再是银行所提供的产品和服务的被动接受者，而是作为价值创造活动的主要参与者加入到商业银行创值活动中来。客户利润贡献能力的强弱，成为商业银行创值活动效果优劣的主要影响因素。只有商业银行为客户创造了价值，客户才会为银行贡献价值。商业银行与客户之间的关系正逐步从利益对立方向利益共同体转变。实现商业银行与客户在价值创造活动中的共赢，是商业银行更新管理理念、培养核心竞争能力的必然选择。
现代商业银行之间的竞争，归根结底是对人才的竞争，拥有高素质的人力资源是商业银行在市场竞争中获得竞争优势的主要影响因素。商业银行拥有的资源可以简单地分为物质资源和人力资源。物质资源对商业银行价值创造活动的价值贡献能力，受物质资源本身特性的限制，存在价值贡献的上限；而人力资源对于商业银行的创值活动的贡献度，在充分挖掘人力资源潜力的前提下，不存在价值贡献的上限。同时，物质资源自身不会生成新的价值，只有借助人力资源的劳动，物质资源才可能转换为新的价值形式。因此，人力资源是商业银行创值活动中最为主要的价值驱动因素和价值生成贡献因素。人力资源成本已经成为商业银行营业费用的主要组成部分。在人力资源投资成本普遍增加的同时，各家商业银行人力资源生产能力和增值贡献能力却存在着较大差异，总的来说，大部分股份制商业银行的人力资源生产能力和增值贡献能力高于国有商业银行。人力资源贡献能力较强的商业银行的创值能力和综合绩效排名的表现也较为突出（见第六章），这再次证明了人力资源是商业银行创值活动主要价值驱动因素和贡献因素。发挥人力资源创值潜力，需要商业银行的管理者从观念上转变人力资源是商业银行成本费用负担的传统思想，将人力资源当成商业银行可以产生增加价值的资产来进行管理，促使人力资源向人力资本的有效转化，以便充分挖掘人力资源对商业银行价值创造活动的贡献潜力。
第三章，基于作业链的商业银行创值能力研究。如果说第二章是在讨论商业银行价值创造过程的开源活动，本章可以说是在讨论节流活动。商业银行在运营过程中，通过资源的耗费和资源价值的转移形成新的价值。资源的耗费和转移是通过一系列作业完成的，作业是增值和耗值两项活动的统一。如何将商业银行的战略管理工作同成本管理工作有机地结合起来，形成具有竞争优势的成本管理模式，是本章研究的重点。通过对当今世界流行成本管理模式的分析，结合我国商业银行的具体情况，本文认为战略成本管理模式是我国商业银行目前最为可行的成本管理模式。商业银行要想成功实施战略成本管理模式，首先应从思想上彻底转变成本管理理念；其次，尽快在各级银行推行作业成本管理方法，通过对作业的优化，保留增值作业，消除或削减耗值作业，降低商业银行成本；最后，商业银行战略成本管理模式的实施，是一项系统性工程，成本控制手段的更新、责任中心的建立、激励制度的完善等都将直接关系到战略成本管理手段实施的效果，各部门的通力合作、有效配合，是商业银行成本管理工作取得显著成效的有力保证。
第四章，基于再造理论的商业银行创值能力研究。流程和组织是价值链和作业链得以存在和依托的基础。一切创值活动都是在一定的组织模式下，通过流程连结作业得以实现的。组织和流程的优劣直接决定了商业银行创值活动的效率和效益。借鉴再造理论优化商业银行组织和流程，为商业银行创值活动的顺利开展提供便捷、高效的信息、资源传输渠道，是商业银行改革的主要内容，也是商业银行以变化求生存、求发展思想的具体体现。流程再造是银行再造的核心，组织再造为流程再造的顺利进行提供了组织架构上的保障，文化再造优化了银行价值创造活动的人文环境，信息管理技术的再造为银行创值活动效率的提升奠定了技术基础。商业银行组织再造和流程再造是一个问题的两个方面，组织是流程的载体，流程是组织开展活动的具体实施路径。流程再造的实施，可以起到优化商业银行创值活动桥梁的作用。针对我国商业银行组织现状，在进行再造时，对外部分支机构应尽量缩减中间层次，向扁平化组织模式靠拢；内部职能部门的设置应以客户需求为导向，采用矩阵式管理模式。通过银行组织和流程再造，为商业银行创值活动的有效进行，提供高效、合理的资源配置和传输渠道。
第五章，基于风险管理的商业银行创值能力研究。在注重挖掘商业银行创值生产要素贡献潜力的同时，也不能忽视对创值能力抵减要素的管理。避免风险损失发生对商业银行创值能力形成的负面效应，从某种程度上来讲，就等于增强了商业银行的创值能力。商业银行风险管理涉及问题众多，本章以《巴塞尔新资本协议》为指导，从内部控制（以下简称内控）和市场约束两个方面就商业银行如何防范风险，提升创值能力进行了研究。
商业银行的内控是包括控制环境、控制流程、风险评估、控制反馈等方面在内的综合性管理系统。虽然我国商业银行的内控建设在长期的发展过程中已经取得了一定成就，但总体来讲，与国外先进商业银行相比还存在巨大差距，这种差距主要表现在内控理念的落后以及内控实施技术和手段、内控配套设施建设的滞后等方面。改善商业银行内控的现状，除需加强内控制度和风险评估手段的建设外，对于内控环境、内审、内控的信息反馈与后续处理等方面的建设也不能掉以轻心。
借助市场约束力量对商业银行风险管理水平进行监督已经成为银行监管的主要发展方向。我国已上市股份制商业银行无论是风险管理手段，还是创值效果都优于未上市商业银行。虽然不能将这些成果的取得完全归功于市场约束，但市场约束在其中发挥的巨大功效是不容忽视的。市场约束力量的发挥，需要完善的信息披露制度相配合。公允、完全、透明的信息披露制度，是发挥市场对商业银行风险防范工作约束效力的必要条件。此外，市场准入和退出机制的建立、存款保险制度的完善、银行从业人员风险防范意识的提升以及社会中介机构监督效力的发挥，对于更好地发挥市场约束在商业银行风险防范和管理中的作用，也是必不可少的。
第三部分（第六章），基于创值能力的商业银行综合绩效实证分析。创值能力考评是在考虑了所有投入资源机会成本基础上，对商业银行生产能力的评价。Stern Steward公司提出的EVA方法为我们科学、合理地评价商业银行的创值能力提供了指导。实证分析的结果一方面是对过去创值活动的总结，另一方面也可以为商业银行改进创值活动、提升创值能力提供参考依据。
基于创值能力的商业银行综合绩效考评是以创值能力为核心指标，结合商业银行安全性、流动性和发展能力等具体指标，采用层次分析法对商业银行综合绩效情况进行的实证分析，通过分析得出以下结论：（1）我国商业银行基于创值能力的综合绩效总体水平呈逐年提高的趋势；（2）大部分已上市股份制商业银行的综合绩效优于未上市股份制商业银行；（3）国有商业银行基于创值能力的综合绩效考评结果不够理想，但随着国有商业银行市场化进程的加快，国有商业银行创值能力低下的状况会逐步好转，综合绩效水平也会逐步提高；（4）无论是国有商业银行还是股份制商业银行，都需要继续挖掘创值潜力，在充分发挥人力资源价值创造能力、客户价值贡献能力的同时，通过作业的精简、组织和流程的再造、银行风险的防范等多种手段的共同实施，在提升商业银行创值能力的基础上，提高综合绩效水平；（5）较强的创值能力是商业银行优化资源配置和传输渠道、挖掘资源创值潜力、节约创值成本等努力的最终体现，是商业银行在长期运营中形成的独特生产能力，是商业银行培养和获取核心竞争力的主要影响要素。商业银行要在激烈的市场竞争中获胜，实现资本的保值只是奠定了基础，只有在运营中创造出高于资本成本的价值，才有可能为利益相关者创造价值，实现价值最大化的终极目标。
本书在研究中取得的主要进展有：
1、对研究商业银行创值能力的相关文献资料进行系统的梳理，为进一步研究商业银行创值活动提供帮助。
2、在对我国商业银行经营特点进行分析的基础上，对提升商业银行创值活动的具体途径进行挖掘，提出人力资源和客户是商业银行创值活动最主要的价值驱动和贡献因素，有效的成本管理和较强的风险防范能力可以从节流和降低风险抵减效力的角度提升创值能力，组织和流程再造可以起到优化商业银行创值活动的信息及资源传输渠道的作用。
3、在对商业银行创值能力进行分析的基础上，构建了基于创值能力的商业银行综合绩效考评体系，并结合商业银行的具体情况，采用层次分析法进行了实证分析。
4、提出较强的创值能力是商业银行培养和获取核心竞争力的主要影响因素。商业银行要在激烈的市场竞争中获胜，实现资本的保值只是奠定了获胜的基础，只有在运营中创造出高于资本成本的价值，才有可能为利益相关者创造价值，实现价值最大化的终极目标。
目录
导论
第一章 商业银行创值能力研究背景及影响因素分析
第一节 商业银行创值能力研究的背景分析
第二节 商业银行创值能力主要影响因素分析
第三节 商业银行创值能力研究理论回顾
第二章 基于价值链的商业银行创值能力研究
第一节 价值链理论概述
第二节 客户价值管理与商业银行价值创造
第三节 人力资源管理与商业银行价值创造
第三章 基于作业链的商业银行创值能力研究——商业银行战略成本管理
第一节 成本管理模式分析
第二节 商业银行成本管理模式的选择
第三节 商业银行战略成本管理的实施
第四章 基于再造理论的商业银行创值能力研究
第一节 商业银行再造的现实意义及主要内容
第二节 商业银行组织再造与创值能力提升
第三节 商业银行流程再造与创值能力提升
第五章 基于风险管理的商业银行创值能力研究
第一节 巴塞尔新资本协议与银行监管发展趋势
第二节 商业银行内部控制的完善与风险防范
第三节 市场约束与风险防范
第六章 以创值能力为核心的我国商业银行综合绩效考评分析
第一节 我国商业银行绩效考评工作发展现状分析
第二节 我国商业银行创值能力实证分析
第三节 基于创值能力的商业银行综合绩效实证分析
参考文献
Abstract
Commercial banks, as a major form of financial entities in
Over a long period of time, profit-creation ability has been using as a key criterion in evaluating a commercial bank’s productivity. The calculation of profit-creation ability is based upon accounting profit, and evaluates a commercial bank’s productivity without taking into account the total opportunity cost of input resources. Profit-creation-oriented operation is apt to work out two negative effects. On the one hand, it tempts a bank to pursue a growth in profit by means of expanding “free” capital, e.g. increasing shareholders’ capital. This is known as “swindling money to buy a profit” and may cut into shareholders’ interest. On the other hand, it causes a non-optimized capital distribution. When profit is used as an examination objective, capital is in all probability misled by the distorted profit-earning signal and distributed to the less-efficient projects that have lower income than opportunity cost. Low efficiency of capital movement results in a waste in resource distribution. The incident of Anron gives the strongest disapproval to the profit-creation-oriented operating notion.
The above-mentioned shortcomings of profit-creation notion can be overcome by value-creation notion. Value-creation activity, based on the consideration of the opportunity cost of capital investment, results in an economic benefit that is higher than the opportunity cost of capital. Value-creation activity reflects the productivity and economic efficiency of bank capital as well as the value-adding ability of the operators to the owners. It is a necessity choice in the realization of maximizing commercial banks’ value. By appraising bank’s value-creation ability, true information regarding the efficiency of bank operation is revealed. This provides accurate efficiency signal, which leads to the optimized capital distribution and movement. Simultaneously, using value-creation ability as a measurement to bank performance can avoid short-sighted conduct in management’s pursuit of high profit figure.
The transition from profit-creation notion to a value-creation one is an inevitable trend in the development of enterprise management theory. It is also a necessary choice made by commercial banks to evaluate operating performance and improve management level.
In examining the value-creation ability, a compound methodology that combines history and reality, normative analysis and positive analysis, logical analysis and comparison analysis, static analysis and dynamic analysis is being adopted. By reviewing numerous related literatures and collecting full and accurate data, former researchers’ excellent disquisitions are well absorbed and used for reference. The objective is to evaluate commercial banks’ value-creation ability scientifically and accurately, excavate the value-driving factors at commercial banks, and provide commercial banks some reasonable suggestions to enhance the core competition ability.
This paper, with the masterstroke of enabling commercial banks’ value-creation ability, addresses four major parts in examining commercial banks’ value-creation activities.
The first part (Introduction and Chapter One) is the fundamentals of the whole dissertation. In this part, three issues are discussed. Firstly, the realistic significance of commercial bank value-creation ability research and the related concepts are defined. Secondly, it is demonstrated that a deep, complete and intensive research for the problems in the value-creation process is only possible when the operating activities of a commercial bank are brought into the macro-economic circulation track and integrated with macro-economic development position. Thirdly, the value-creation ability of a commercial bank is a compound result of the interactions amongst various factors and of the combined effects altogether. Factors affecting a commercial bank’s value-creation ability include both macro and micro ones. In processing a detailed research, an overall analysis upon multiple influential factors can establish a platform on which intensive macro and micro studies thereafter could be undertaken. Lastly, a brief review over the research-related theories and methodologies is embarked upon in order that a stable theoretic foundation could be set up and former ideology and experience could be used for reference.
The second part (Chapter Two, Three, Four and Five) serves as the principle body of this dissertation. Four aspects by which value-creation ability of a commercial bank could be upgraded are set forth particularly. They include the value-chain-based resource conformity, the activity-chain-based strategic cost management, the reengineering-theory-based process and organization reengineering, and risk-management-based research on value-creation ability. It is discovered that human resource and customers are the main value drivers and contributive factors in a commercial bank’s value-creation activities. Effective cost management and strong risk supervision ability can improve value-creation ability through economizing and lowering the risk offsetting effects. Organization and process reengineering serves as a transmission channel for information and resources that optimize value-creation ability of a commercial bank. At the same time, improving value-creation ability is an inevitable condition in cultivating and maintaining the core competition ability of a commercial bank. This can be proposed as follows:
Chapter Two,Value-chain-based Research on Value-creation Ability of Commercial Banks. In this chapter, from a resource conformity angle, value-chain theory is used in analyzing the approach through which the value-creation ability of a commercial bank could be enhanced. Along with the expansion of enterprises boundaries, the resources owned by an enterprise are not limited within the organization. They spread over the upper and lower ends of the business operations. According to the value-chain theory, the participative and contributive factors include both internal ones such as capital factors, material factors, intangible asset factors, etc, and external customers who act as fund providers and product consumers. It is of vital importance to bring those external resources into value-creation activities of a commercial bank and plan as whole. In this way the potentials of value-creation factors could be released and value creation of the commercial bank be enhanced. Among the most influential factors impacting value-creation ability of a commercial bank, customers and human resources are regarded as the most contributive and pivotal resource factors influencing value-creation effects.
Together with economic development, significant changes have been taking place as to the role a customer plays in the economic activities. Customers are no longer positive embracers to the products and services offered by the bank. They, as major participants in the value-creation activities, have taken part in the value-creation activities of the bank. The strength of customer profit contribution ability has become a key factor influencing the effect of value-creation activities of the bank. Only by creating value for customers, can customers contribute value for the bank. The relationship between commercial banks and customers is switching gradually from interest contraries to an interest community. The realization of double-win of both customers and banks in value-creation activities is an inevitable choice made by commercial banks in renovating management notions and cultivating core competition ability.
Competition among commercial banks in modern society is, ultimately, the competition in preempting talents. Owning human resources with high quality is the crucial cause to gain competition superiority in the market. The resources a commercial bank owns are composed of human resources and material resources. Material resources are limited by their own nature in the value-creation activities, that is to say, there is an upper limit in the contribution provided by material resources. On the contrary, value contributed by human resources has no upper limit when the potential of human resources is fully utilized in the value-creation activities of the commercial bank. In addition, material resources create no new value by itself. Material resources could not transfer into new forms of value unless they are made use of by human labors. Human resource is a major value-driving factor and value-creating contributor in the value-creation activities of commercial banks. Although the total investment cost on human resources has increased in a whole, there are big distinctions on productivities and value-adding contribution abilities of human resources among individual commercial banks in
Chapter Three, Activity-chain-based Research on Value-creation Ability of Commercial Banks. The previous chapter discusses the source-exploiting activities in the value-creating process at commercial banks, whereas this chapter discusses the cost-cutting activities on the other side of the coin. In the operating process of a commercial bank, new value and additional value are created through the consumption and value transmission of resources, which are accomplished throughout a series of activities. An activity is a consolidation of value-adding and value- consuming. This chapter focuses on the organic combination of strategic management and cost management in commercial banks, by which a cost management model with competition superiority could be set. By analyzing the world’s most popular cost management models nowadays, considering certain circumstances of commercial banks, it is concluded that the most feasible model of cost management for commercial banks should be strategic cost management model. To bring strategic cost management into effect successfully, commercial bank should, firstly, change cost management ideology thoroughly. Secondly, commercial banks should popularize activity-based costing system as soon as possible. By optimizing activities, value-adding activities are retained and value-consuming ones are diminished or even eliminated, so that the costs of commercial banks are reduced. Lastly, the implementation of strategic cost management model is a systematic project. The upgrade of cost control measures, the establishment of accountability centers, and the completion of incentive systems, all have direct impacts upon the implementation effect of strategic cost management resorts. Effective cooperation of different departments ensures commercial banks’ cost management system works with efficiency.
Chapter Four, Reengineering-theory-based Research on Value-creation Ability of Commercial Banks. Process and organization serve as foundations for the existence of value-chain and activity-chain. All value-creation activities are realized through the linkage between processes and activities. The quality of organization and process determines the efficiency and effectiveness of commercial banks’ value-creation activities. Using reengineering theory in optimizing commercial banks’ organization and process and providing timely information and resource transmission channels form an important part in commercial banks’ reform. This also embodies commercial banks’ ideology of seeking survival and development through changes. Process reengineering is the core of bank reengineering. Organization reengineering provides organizational structure assurance for the favorable progress of process reengineering. Culture reengineering optimizes the humanity environment for value-creation activities of the bank. Information management technology reengineering gives rise to improve value-creation efficiency for the bank from a technical base. Commercial bank’s organization and process reengineering are two sides of the same coin. Organization carries the process, whereas process channels the certain execution of organizational activities. Implementing process reengineering serves the role of optimizing and stabilizing commercial bank’s value-creation activities. In allusion to the current organizational positions of commercial banks in
Chapter Five, Risk-management-based Research on Value-creation Ability of Commercial Banks. The management over the offsetting factors of value-creation ability should not be neglected while commercial banks focus on digging up the contributive potentials of value-creation production elements. Avoiding negative effects to value-creation ability caused by risks, to a certain extent, equals enhancing a commercial bank’s value-creation ability. There are numerous issues regarding commercial bank’s risk management. Guided by the “New Basel Capital Accord”(2004), this chapter addresses how commercial banks fence risk through internal control and market restriction, thus improve value-creation ability.
The internal control system of a commercial bank is a comprehensive management system, which is composed of control environment, control process, risk appraisal, and control feedback. Although commercial banks in
Supervising the risk level of commercial banks in virtue of market restriction power has become the mainstream trend in commercial bank regulation. In
Part Three (Chapter Six), Value-creation-ability-based Empirical Research on Comprehensive Performance of Commercial Banks. Value-creation ability appraisal is an evaluation to a commercial bank’s productivity, based upon consideration of total opportunity cost of input resources. EVA, introduced by Stern Steward Ltd., provides us a methodology direction in the scientific and reasonable evaluation to a commercial bank’s value-creation ability. An empirical research , on the one hand, concldues the past value-creation activities, on the other hand, encourages commercial banks to improve value-creation activities through scientific appraisal and upgrades commercial banks’ future value-creation ability.
A comprehensive performance rating system based on commercial bank’s value-creation ability takes value-creation ability as core figures, combines security, liquidity and development ability figures altogether, to execute an empirical research upon commercial banks’ comprehensive performance by a stratification analyzing method. Through the analysis, the following conclusions have been obtained. First, the overall performance level of commercial banks in
Strong value-creation ability ultimately represents the efforts by commercial banks in optimizing resource distribution, excavating value-creation potentials from resources, saving value-creation costs, and avoiding losses caused by risks. It is as well a unique productivity formed through the long-run operation of a commercial bank, and the major influential factor of a commercial bank in fostering and accessing core competition ability. To be a winner in a drastic market competition, the realization of capital coverage only sets up a foundation for the possible status of superiority. Only by creating value that is higher than cost of capital, can commercial banks create value for stakeholders, and realize the ultimate goal of value maximization.
The major improvement of this dissertation is:
1.A systematic review on a great deal of related literatures has been made, in order that a further study over the value-creation activities of commercial banks can well be launched.
2.Based upon an analysis to the operating characteristics of commercial banks in
3. Based upon the analysis on value-creation ability of commercial banks, a comprehensive performance evaluation system for commercial banks, according to the value-creation ability, is constructed. An empirical research is undertaken through hiberarchy-analyzing in associated with the certain circumstances of commercial banks.
4. It is concluded that strong value-creation ability is the key influential factor in cultivating and accessing core competition ability in commercial banks. To be a winner in a drastic market competition, the realization of capital coverage only sets up a foundation for the possible status of superiority. Only by creating value that is higher than cost of capital, can a commercial bank create value for stakeholders, and realize the ultimate goal of value maximization.
Contents
Introduction
Chapter 1 Analysis of the background and factors influencing research on commercial bank's value-creation ability
1. An ayalysis of the research background of commercial bank's value creation ability
2. An analysis of the factors influncing research on commercial bank's value-creation
3. Theoretical review of research on commercial bank's value-creation abilty
Chapter 2 Value-chain-based research on value-creation ability of commercial banks
1. Introduction to the Value-chain theory
2. Customer value management and value-creation in commercial banks
3. Human resource management and value-creation in commercial banks
Chapter 3 Activity-chain-based research on value-creation ability of commercial banks
1. An analysis of cost management models
2. Selection of commercial bank's cost management model
3. The implementation of strategic cost management in commercial banks
Chapter 4 Reengineering-theory-based research on value-creation ability of commercial banks
1. The practical significance and major contents of commercial bank- reengineering
2. Organizational reengineering and value-creation ability upgrading in commercial banks
3. Process reengineering and value-creation ability upgrading in commercial banks
Chapter 5 Risk-management-based research on value-creation ability of commercial banks
1. "New Basel Capital Accord" and the bank regulation development trend
2. Perfecting internal control in commercial banks and protecting risk
3. Market restriction and risk protection
Chapter 6 Value-creation-ability-based analysis on commercial bank's comprehensive performance evaluation
1. An Analysis of current position on commercial bank's perfromance evaluation in
2. An emperical research on commercial bank's value-creation ability in
3. Value-creation-ability-based empirical research on comprehensive performance of commercial banks.
Works cited
