自2003年8月国务院出台《深化农村信用社改革试点方案》开始，农信社改革就 一直成为国内研究热点，2011年银监会明确农信社向农商行改制的路线，自此全国的农 信社都开启了向农商行改革之路，与此同时，学术界对农信社改制效果评价标准展开了 广泛研究。作为中间批次改革的QN银行，于2015年5月28日改制完成正式挂牌成立， 注册资本金87.51亿元，居全国农村商业银行第五位，不仅起点高而且实力较强。 本文以QN银行为研究对象，以该行改制五年来的经营业绩为依据，构建QN银行 改制效果理论分析框架，并在此基础上，试图从自身制度效果提升和经营效率两个维度， 综合分析QN银行改制效果，实证QN银行改制后其效果是否朝正向发展，并通过研究 发现存在问题并提出相应对策，为我国面临改制的农信社提供建议和参考，也为已经改 制完成的农商行提供解决问题的可能性和方法。 按照上述逻辑体系，论文研究结论如下： 1、改制使QN银行的制度效果得到大幅度提升，无论是股权结构、公司治理和人 员设置都得到了改善，正规公司化运营改变了以前人治代替法治的局面，使QN银行的 法人治理提升了一个层次。 2、改制使QN银行的经营绩效的各个指标出现不同程度的增长，其经营盈利性、 流动性与安全性得到不同程度的增强，进一步通过因子分析法对各项指标进行实证分析， 通过综合排名实证制度变迁对农商行的经营绩效产生了正向的效果，是符合改革预期的。 关键词：农村信用社；改制效果；经营绩效； Abstract Since the State Council issued the pilot plan for deepening the reform of rural credit cooperatives in August 2003, the reform of rural credit cooperatives has been a hot research topic in China. In 2011, the CBRC clarified the reform route from rural credit cooperatives to rural commercial banks. Since then, all rural credit cooperatives in China have started the reform route to rural commercial banks. At the same time, the academic community has carried out extensive research on the evaluation standard of the reform effect of rural credit cooperatives. As an intermediate batch of reform, QN bank was officially established on May 28, 2015 after restructuring, with a registered capital of 8.751 billion yuan, ranking the fifth in the country's rural commercial banks, with a high starting point and strong strength. This paper takes QN bank as the research object, constructs the theoretical analysis framework of QN Bank Restructuring Effect Based on its operating performance in the past five years of restructuring, and on this basis, attempts to comprehensively analyze the restructuring effect of QN bank from two dimensions of its own system effect improvement and operating efficiency, to verify whether the effect of QN bank restructuring is developing in a positive direction, and finds out the existing problems through research and raises the following questions The corresponding countermeasures can provide suggestions and references for the rural credit cooperatives facing the reform, and also provide the possibility and methods to solve the problems for the agricultural commercial banks that have completed the reform. According to the above logic system, the research conclusions are as follows: 1. The system reform has greatly improved the institutional effect of QN bank, and improved the ownership structure, corporate governance and personnel setting. The formal corporate operation has changed the situation that the rule of man replaced the rule of law before, and promoted the corporate governance of QN bank to a higher level. 2. The reform of QN bank's operating performance indicators have increased to different degrees, and its operating profitability, liquidity and security have been enhanced to different degrees. Further empirical analysis of the indicators is carried out by factor analysis method, and the changes of the comprehensive ranking empirical system have a positive effect on the operating performance of agricultural commercial banks, which is in line with the reform expectations. Key words: Rural credit cooperatives; Restructuring effect; Business performance； 目 录 第一章 绪论 ............................................................................................................................ 1 一、研究背景和意义 ......................................................................................................... 1 （一）研究背景 .......................................................................................................... 1 （二）研究的意义 ...................................................................................................... 3 二、文献综述 ..................................................................................................................... 3 （一）国外研究现状综述 .......................................................................................... 3 （二）国内研究现状综述 .......................................................................................... 5 三、研究思路、内容与论文结构 ..................................................................................... 8 （一）研究思路 .......................................................................................................... 8 （二）研究内容 .......................................................................................................... 8 （三）论文结构 .......................................................................................................... 9 四、研究方法、数据来源、技术路线 ........................................................................... 10 （一）研究方法 ........................................................................................................ 10 （二）数据来源 ........................................................................................................ 10 （三）技术路线 ........................................................................................................ 10 五、本章小结 ................................................................................................................... 11 第二章 农信社改制效果评价理论基础 ................................................................................ 16 一、相关概念界定 ........................................................................................................... 16 （一）制度的定义与评价标准 ................................................................................ 16 （二）改制及农信社改制内涵的界定 .................................................................... 17 （三）农信社改制效果内涵界定 ............................................................................ 18 二、农信社改制的内容及效果评价标准 ....................................................................... 19 （一）农信社改制的内容 ........................................................................................ 19 （二）农信社改制的效果评价标准 ........................................................................ 20 三、本章小结 ................................................................................................................... 21 第三章 改制对QN银行完善自身制度的效果分析 .............................................................. 22 一、QN银行产权改制情况 ............................................................................................ 22 （一）西安城六区联社改制前的情况 .................................................................... 22 （二）QN银行改制后的情况 ................................................................................. 24 二、QN银行产权改制效果评价 .................................................................................... 27 （一）股权结构向集中化倾斜 ................................................................................ 27 （二）法人治理符合要求 ........................................................................................ 29 （三）人员设置有待完善 ........................................................................................ 29 三、本章小结 ................................................................................................................... 30 第四章 改制对QN银行经营绩效影响分析 ........................................................................ 31 一、改制对