Based on the panel data of 65 commercial Banks from 2008 to 2015 in China, This paper empirically investigates whether the depositors market discipline is effective with a unique angle of bank efficiency. The results show that: the price discipline of deposit and the quantity discipline of personal time deposits can improve the cost efficiency of banks; corporate deposits do not exert effective market discipline effect;uninsured deposits have a certain effect on bank efficiency,but it does not exert positive restraint effect;the implicit deposit insurance system that harms the depositors market discipline; the information disclosure can help the depositors market discipline;the cost efficiency of banks have a significant economies of scale.%本文基于我国2008—2015年65家商业银行的面板数据,从银行效率的独特视角对银行存款人市场约束的有效性进行经验研究.研究结果表明﹕ 存款价格约束和个人定期存款数量约束能够促进银行成本效率的提高;公司存款没有发挥有效的市场约束效应;未保险存款对银行效率有一定影响,但没有发挥正向积极约束效应;隐性存款保险制度不利于存款人市场约束效应的发挥;信息披露有助于存款人市场约束作用的发挥;银行成本效率存在显著的规模经济效应.
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