关于以小企业贷款产品的价值基础定价的思考  

Research on Loan Pricing According to the Basic Value of Small Enterprise Loans

作　　者：陆岷峰[1,2] 周海波[3] 

机构地区：[1]南京大学经济学院博士后流动站 [2]江苏银行总行办公室 [3]南京大学经济学院

出　　处：《金融论坛》2009年第6期26-30,共5页Finance Forum

摘　　要：本文着眼于从小企业贷款的价值基础来寻找其产品定价的合理方案。虽然不同利益主体对于小企业贷款定价的观点不同,但这些主张均是从小企业贷款产品的外部因素而非从小企业贷款产品本身的价值出发来考虑其价格,结果往往会与价值规律相违背。本文结合小企业贷款产品的价值与特征,运用基准利率加风险溢价的模式对小企业贷款产品定价进行计算和分析。结果表明,小企业贷款利率可超过基准利率的61.5%,而当前商业银行小企业贷款定价远远背离了其产品的价值基础。因此,适度提高现行小企业贷款产品价格是当前解决小企业贷款难的关键所在。This paper aims to design a reasonable pricing scheme from the perspective of the basic value of small enterprise loans. Although different parties hold different opinions on the pricing of small enterprise loans, these opinions are all based on external factors rather than the basic value of loans themselves, so the outcomes often deviate from the law of value. Tak- ing the value and characteristics of small enterprise loans into account, the paper calculates and analyzes the pricing on small enterprise loans with the model of benchmark interest rate plus risk premium.The result shows that the price of small enterprise loan is 61.5% higher than the benchmark interest rate, and the present pricing of small enterprise loans deviates far from the basic value. Therefore, moderately increasing the price of existing small enterprise loans is the key to solve the difficulty in lending for small enterprises.

关 键 词：小企业贷款 产品定价 价值基础 商业银行 

分 类 号：F832.4[经济管理—金融学]