基于电子商务平台的互联网金融模式研究  

Study on Internet Finance Based E-commerce Platform

作　　者：张江洋[1] 袁晓玲[1] 张劲波[2] 

机构地区：[1]西安交通大学经济与金融学院,710061 [2]西安交通大学金禾经济研究中心,710049

出　　处：《上海经济研究》2015年第5期3-11,25,共10页Shanghai Journal of Economics

摘　　要：该文回顾了互联网金融的发展,借助产业融合理论发现它内生于电子商务,是电子商务与金融自然融合的结果。作者通过构建信息经济学理论模型,发现基于电子商务平台的互联网金融的贷款模式,并未改变传统金融交易中利率和抵押合约的实质,只是激活了中小企业的无形资产(网络资产、信用资产、信誉资产),增加了违约成本,形成了新的抵押模式,从而缓解了信息不对称引起的信贷配给问题。该文最后建议政府应积极支持和引导互联网金融的发展;探索建立电子商务企业网络资产的交易市场,使其抵押物的价值更加有效,从而使中小企业能从主流商业银行得到借贷。Internet finance based e-commerce platform （IFBEP） in China has made great success in both popular financing and small and medium enterprise （SME） financing. This paper employs the theory of industry convergence to investigate the development of IFBEP which was born in e-commerce. Then we employ the classic theory of information economies model and find that the pattern of credit based IFBEP essentially doesn＇t change the contract composed of interest rate and mortgage, just activate the intangible assets （network assets, credit assets and reputation assets） of SME and increase penalty cost which can form new pattern of mortgage and alleviate credit rationing caused by information asymmetry. We suggest that the government should actively support and guide the development of IFBEP, and try to establish transaction market for network assets of SME based e-commerce which will make mortgage more effectively and increased probability of borrowing money from the mainstream commercial bank.

关 键 词：电子商务平台 互联网金融 信息经济 

分 类 号：F832.5[经济管理—金融学]