银行网点规模对理财产品市场竞争的影响  

Influence of Banks' Branch Scales on the Competition of Banks' Wealth Management Market

作　　者：徐振业[1] 曾勇[1] 

机构地区：[1]电子科技大学经济与管理学院,四川成都611731

出　　处：《运筹与管理》2015年第4期178-187,共10页Operations Research and Management Science

基　　金：国家自然科学基金资助项目(70872016)

摘　　要：网点是银行销售理财产品的主要渠道,网点的规模不仅直接影响着银行在理财产品市场的份额和收入,还通过风险行为影响着理财产品市场的竞争策略与格局。本文以权益类理财产品为研究对象,建立了银行间基于网点的理财产品竞争模型,通过竞争均衡的比较静态分析,发现理财产品的预期收益率受不同发行主体自身网点规模的影响,网点规模小的银行倾向于采取更激进的竞争策略,提供收益率更高的理财产品,以扩展自己的生存空间,即存在收益率溢价现象。然而,小规模银行的风险行为对竞争格局的影响有限,而大规模银行的行为却影响显著,即,理财产品所投资标的资产的风险水平对竞争的影响程度也同样受制于银行的网点规模。本文的分析和结论为我国银行理财产品市场的现状特征提供了理论解释。Branches rectly affects banks＇ are banks＇ main channel to sell their wealth management products. Branch scale not only di- market share and income, but also influences banks＇ strategies and competitive structure of market through banks＇ risk - taking behaviors. This paper considers the wealth management products of equities and establishes a competition model among banks＇ branches. Through comparative static analysis of the equilib- rium, this paper finds that banks＇ branch scale affects its expected yield of wealth management product and that the bank with small branch scale is inclined to adopt more radical competitive strategy （higher expected yield） to expand its living space, i.e. there exists a phenomenon of yield premium. However, the risk-taking behavior of the bank with small branch scale has a limited influence on competition, while the behavior of the bank with large branch scale has a notable influence, that is. banks＇ branch scales affect the degree of competition influ- enced by the risk of underlying asset in wealth management products. The analysis and conclusions of this .paper can bring some theoretical explanations to the current development and characteristics in Chinese wealth manage- ment market.

关 键 词：金融学 银行网点规模 竞争模型 理财产品 

分 类 号：F830.59[经济管理—金融学]