This dissertation analyzes the development of the Chinese financial system from different perspectives. It has shed light on the recent advancements of the last decade. Overall, the findings reveal a contrasted picture of the progress achieved towards an efficient system. Chapter 1 has shown that the corporate bond market is still impeded by government influence. Based on this evidence, it is thus very unlikely to expect the banking system to decrease its dominance on the financial system. Chapter 2 also stressed that internal governance mechanisms remain imperfect. By analyzing the market price fluctuations at the time of the announcement of a CEO turnover, we find that ownership type plays a major influence on the expected consequences of such a decision. Chapter 3 revealed that little progress has been made in terms of banking competition despite the increasing number of new entrants in the market. However, banks behaved more efficiently over the decade. No trade-off seems to exist for policy-makers between the benefits of lower banking prices and efficiency of the system. Chapter 4 finally showed the beneficial effects of the capital requirement regulation on bank efficiency in China. Capital requirements, in supplement to provide higher capital buffers, appear to lower moral between banks' shareholders and debtholders.
| Identifer | oai:union.ndltd.org:CCSD/oai:tel.archives-ouvertes.fr:tel-01015293 |
| Date | 29 November 2013 |
| Creators | Pessarossi, Pierre |
| Publisher | Université de Strasbourg |
| Source Sets | CCSD theses-EN-ligne, France |
| Language | English |
| Detected Language | English |
| Type | PhD thesis |
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