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328Vol132No1820068JournalofFinanceandEconomicsAug12006(19872004)3(,100824):19872004,,,,,:;;:F832:A:100129952(2006)08O0102O10,,,,,,,,,,,19872004,,,,,198781892004141112:2006205216:(1975-),,,201,1718187,17167%(1),,1997104220044820188,73163,24145%(2),,19903140%200526106%(3),,198630198200461900,181997,52155%(4);198619159200427496199,181402,49155%,(5)(198720042004)123301:(19872004)45,,,,,,,,,,,,Benston(1965,1972)BellMurphy(1968),,CobbODouglasCobbODouglas,2080,Benston(1982),DvisiaCristersenJorgensonLau1973,:40120068lnTC=0+3i=1ilnYi+j=k,l,rjlnpj+(12)3i=13j=1ijYilnYj+(12)i=k,l,rj=k,l,rijlnpilnpj+3i=1j=k,l,rijlnYilnpj+ui(1),TC,Y,P,,,,Berger(1993)Lawrence(1989),,1Ashton(2001)19841997,,,50(2002)19942000,,,,(2004)19922003,,,,:D;L;A,A=(+++)/;X,X=/;I,I=/,:lnTC=+DlnD+LlnL+AlnA+XlnX+IlnI+DDln2D+LLln2L+DLlnL+DAlnDlnA+DXlnDlnX+DIlnDlnI+LAlnLlnA+LXlnLlnX+LIlnLlnI+AAln2A+XXln2X+IIln2I+AXlnAlnX+AIlnAlnI+XIlnXlnI+u(2)EE(2)lnDlnL:E=D+L+DDlnD+LLlnL+DL(lnD+lnL)+(DA+LA)lnA+(DX+LX)lnX+(DI+LI)lnI(3)E1%E501:(19872004)1,1%1%,;E1,1%1%,;E1,1%1%,198820042004,,,14811tt-815775993-3.59108DI0.10376181.023441D-0.962356-1.13094LA0.12763551.909295L2.652520333.30612LX0.193403132.610261A-1.0331333-3.40652LI-0.077438-0.84186X-0.307567-0.7275AA0.248996934.226155I-0.073563-0.2016XX0.100799534.157495DD0.38332721.42695II0.256078333.483518LL0.12453530.750102AX-0.2238413-4.47039DL-0.326017-1.10872AI-0.070838-1.62744DA-0.048409-0.72066XI-0.167333-2.9853DX-0.1993763-2.57999R20.994127D.W.1.906241R20.993202FOstatistic1074.883:35%t(3),(2)2198720041987198819891990199119921993199419950.6355010.862090.8489040.9042040.9515260.990231.0280031.0755821.1061240.9744480.9436350.9793580.8746660.8794980.8909190.8486080.8803680.920370.5823420.633280.6233170.697680.771050.7230480.5792710.8628580.1640980.3630940.4036790.4633750.4908470.548060.5607340.6290460.6776830.7574820.889920.4326830.7185950.8139120.732010.6277470.7130360.7267210.7356270.7528050.7967190.4251720.5494330.6583110.6744540.6673980.7147980.5913490.687790.7163050.6986620.692960.7012990.7532750.7703650.8186531996199719981999200020012002200320041.1468911.1636771.1471731.1295071.151481.1722541.2031911.227301n.a.0.9431140.822290.807630.9363191.0618290.9510551.0355361.102698n.a.0.874550.8954570.9176840.9382380.9842150.9630581.0820921.235091.2664090.6832450.5869950.6238070.7280350.7777890.8453530.8917361.0876461.0436520.9187030.9423290.9594311.0371390.9148730.9460321.0684471.1953951.2282690.8095090.8507950.8307480.9216290.9701260.9692451.0507861.138571n.a.0.8245930.8132120.8636190.8737990.8885630.9443960.9486161.082691n.a.0.6841010.5791390.6203890.7371660.8433690.9284251.0327191.1279821.174010.7256410.7451260.7704450.8382510.9230390.9456361.0184291.1370951.126980.4326170.388370.6485990.7215960.8644140.9671251.0958161.2293171.2562270.7925510.8035910.8623290.8868880.9338020.9848551.0480511.101841.1243020.8032290.7809980.8228960.8862330.9375910.9652211.043221.1514211.17426460120068,,,19870159132004111743,19871994,016018,;19951998,,018;19992004,,2002,,2002(6)619872004,,,,,,,:11,,1992,,,;1997,,,;1999,,,,2002,,701:(19872004),,,,,,,,,,,,,,,,;,,:,,,,(3),,,,325(%)20002001200220032004171261319611.048.005.4323.7519.5729.0442.6761.4813.649.919.728.407.97:Bankscope21:,,,,,,,,,,,,,,80120068:,2003170,68,17618(,2005),,,,,,,,,,,,,,,,,,,,31,,:,,,,,,,,,,,,,41,,,,,,;,,,,,901:(19872004),51,,,,,65%,,,,2004,,,53%;(),71%20002005,73126%,77146%,,,19872004,,,:;;,;,;,,,3,:[1]1[N]1,2005O02O07.[2].[J].,2005,(3):2328.01120068[3]BenstonGJ.Economicsofscaleandmarginalcostsinbankingoperations[J].TheNa2tionalBankingReview,1965,(2):507549.[4]BenstonGJ.Economicsofscaleoffinancialinstitution[J].JournalofMoney,Credit&Banking,1972,(1):312341.[5]BellFW,MurphyNB.Costincommercialbanking:Anquantitativeanalysisofbankbehavioranditsrelationtobankregulation[R].ResearchReportNo.41,FederalRe2serveBankofBoston,1968.[6]BenstonGJ,HanweckGA,HumeuryDB.Scaleeconomicsinbanking:Arestructureandreassessment[J].JournalofMoney,Credit&Banking,1982,14:435456.[7]BergerAN,HunterWC,TinueSG.Theefficiencyoffinancialinstitution:Anreviewandpreviewofresearchpast,presentandfuture[J].JournalofBankingandFinance,1993,17:221249.[8]LawrenceC.Bankcosts,generalizedfunctionformsandestimationofeconomicsofscaleandscope[J].JournalofMoney,Credit&Banking,1989,21:368380.[9]AshtonJK.CostefficiencycharacteristicsofBritishretailbank[J].TheServiceIndus2triesJournal,2001,21:159174.[10],,.[J].,2002,10:2229.[11],,,.(19922003)[J].,2004,(11):4653.[12].[J].,2005,(1):8290.AnEmpiricalAnalysisoftheAssetsExpansionofChinasSmallandMediumBanks:BasedontheSampleDadafrom1987to2004ZHUJianOwu(DepartmentofEconomicsSystemReform,NDRC;Beijing100824,China)Abstract:Basedontheempiricalanalysisoftheeffectofassetsexpan2sionofChinassmallandmediumbanks(SMB),thisarticleinvestigatestheinducementandlogicfortheexpansion.ItgetstheconclusionthatSMBsassetsexpansionisnotbasedonthescaleeconomybutonapassiveresponsetothecurrentfinanceinstitutionalenvironmentandtheoperatingmecha2nism.Therefore,itisimportanttostartfromreformingthefinanceenvir