There are two typical subprocesses in bank production—deposit generation and loan generation. Aiming to open the black box of input-output production of banks and provide comprehensive and accurate assessment on the efficiency of each stage, this paper proposes a two-stage network model with bad outputs and supper efficiency (US-NSBM). Empirical comparisons show that the US-NSBM may be promising and practical for taking the nonperforming loans into account and being able to rank all samples. Applying it to measure the efficiency of Chinese commercial banks from 2008 to 2012, this paper explores the characteristics of overall and divisional efficiency, as well as the determinants of them. Some interesting results are discovered. The polarization of efficiency occurs in the bank level and deposit generation, yet does not in the loan generation. Five hypotheses work as expected in the bank level, but not all of them are supported in the stage level. Our results extend and complement some earlier empirical publications in the bank level.
We study the education premiums in the online peer-to-peer (P2P) lending marketplace in which individuals bid on unsecured microloans applied by individual borrowers. Using more than 100,000 consummated and failed listings from the largest online P2P lending marketplace in China — Paipaidai.com, we examine whether higher education level lead to lower interest rates and lower risk of default. We find that controlling for other characteristics of borrowers, borrowing rates of borrowers with bachelor’s degrees is 0.141 percent higher than that of borrowers with associate’s degrees, and that female borrowers’ education premiums were higher than their male counterparts. With regard to loan performance, borrowers with bachelor’s degrees are 13% less likely to default than the borrowers with associate’s degrees. Therefore, the education premiums in the P2P lending marketplace are rational.
Based on the database data of Chinese industrial enterprises from 2000 to 2007 and the LP method, this paper measures the total factor productivity of enterprises and investigates the effect of different mixed ownership forms on enterprises’ efficiency and the effect of heterogeneous ownership balance on the mixed ownership enterprises’ efficiency. The state-owned enterprise and mixed ownership enterprise are identified by the enterprise’s paid-up capital. The results show that, on the whole, for the mixed ownership enterprise, the higher the diversification degree of the shareholders is, the higher the efficiency becomes, and in different types of industries, the mixed forms of shareholders have different effects on the efficiency of enterprises. The heterogeneous ownership balance and the enterprise efficiency show nonlinear U-type relationships. Both the higher and lower heterogeneous ownership balance degrees will promote the enterprise’s efficiency. However, when the ownership balance degree is in the range of [0.2 0.5], the increase in ownership balance will lead to the decline of enterprise efficiency. Therefore, when introducing non-state-owned capital, state-owned enterprises should take full account of their own characteristics by rationally controlling the shareholding ratio of non-state-owned capital and play the positive role of a mixed ownership structure in corporate governance with appropriate ownership balances.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.