文档介绍：外资银行进入与多期信贷竞争和稳态
——基于抵押品视角的研究* 基金项目:国家自然科学基金资助项目(70872016)。
陈旭东作者简介:陈旭东(1983-),男,四川人,博士研究生,电子科技大学经济与管理学院。
曾勇(1963-),男,四川人,博士,教授,博士生导师,电子科技大学经济与管理学院院长。
,曾勇
(电子科技大学经济与管理学院, 成都 610054)
摘要:假设外资银行和本地银行分别具有融资成本优势和信息优势,本文构建了基于抵押品视角的两家银行多期竞争的稳态模型,研究表明:(1)两家银行均要求客户贷款时提供抵押品,只有低风险客户会向银行贷款;(2)稳态时双方银行获得的市场份额和利润与其融资成本和交易成本有关,本地银行的信息优势可以对抗外资银行的成本优势。进一步比较静态分析结果显示:(1)本地银行融资成本越高,其所获得的市场份额和利润越少,而外资银行市场份额和利润则越多;(2)当两家银行融资成本差距较小时,本地银行单位交易成本增加意味着其利润减少,而外资银行的利润增加;当两家银行融资成本差距较大时,本地银行单位交易成本增加意味着两家银行利润均增加。
关键词:竞争稳态;抵押品;信息不对称
中图分类号: 文献标识码:A
Foreign Entry and Steady-State of Multiple-Stage petition in Bank Industry Based on Collateral View
CHEN Xudong, ZENG Yong
(School of Management and Economics, University of Electronic Science and Technology of China, Chengdu 610054, China)
Abstract: By assuming that the foreign bank has financing cost advantage and the local bank has information advantage over the foreign bank, this paper develops a steady-state model in a multi-phase and petition framework based on collateral view. We find that: (i) Both banks require borrowers to offer collateral, therefore only low-risk borrowers will borrow money from banks; (ii) The steady-state market shares and the profits of the banks are decided by their financing and transition costs, and the information advantage can help the local bank withstand the foreign bank’s financial coat advantage. The paratively static analysis show that: (i) When financing cost of the local bank is higher, its market share and profit are less, and the market share and the profit of the foreign bank are more; (ii) When the financing costs of the foreign bank and the local bank are nearly the same, the increase of the local bank’s unit transaction cost leads to the decrease in its profit and the increase in foreign bank’s profit. However, when the financing costs are very different, the increase of the local bank’s unit transaction cost implies profit increases of both banks.
Keywords: Steady-State petition, Collate