外资银行的进入对我国信贷市场贷款价格的影响  

The Effects of Foreign Banks' Entry on the Loan Prices in Credit Market of China

作　　者：彭红枫[1] 陈文博[1] 蒋延军 

机构地区：[1]武汉大学经济与管理学院金融系,湖北武汉430072 [2]平安银行总行,广东深圳518000

出　　处：《中国管理科学》2016年第5期8-17,共10页Chinese Journal of Management Science

基　　金：教育部哲学社会科学研究重大攻关项目(12JZD029);2016年度湖北省教育厅哲学社会科学研究重大项目;武汉大学"70"后学者学术团队项目及武汉大学自主科研项目(人文社会科学);中央高校基本科研业务费专项资金资助项目

摘　　要：本文从中资银行和外资银行分别具有信息优势和融资成本优势的基本假设出发,建立了不对称信息下的银行信贷市场竞争模型,从贷款价格的角度来研究外资银行通过绿地投资和兼并收购两种方式进入对我国信贷市场的影响,且在并购方式中将并购对象按规模分为了本地大银行和小银行。结果表明,外资银行通过兼并收购本地大银行方式进入对贷款价格的降低效果不大,而通过兼并收购小银行方式进入能够全面降低本地银行的贷款价格,在处于竞争劣势地位的本地大银行的老客户市场通过绿地投资模式进入可以大幅度的降低贷款价格。China Banking Regulatory Commission （CBRC） has been encouraging foreign banks to enter Chinese markets hy the way of establishing an institution with legal person status while restricting the en try of foreign banks through M＆A. This paper starts with the basic assumptions that the local banks possess the information advantage while the foreign banks possess the financing cost advantage. Bank credit market competition model under the asymmetric information is applied to analyze the effects on loan prices of entry of foreign banks. Theoretically model the entry of foreign banks through Greenfield investments mode and mergers and acquisitions respectively, and the acquisition targets are divide into big banks and small banks by size. It is found that there is little effect on the loan prices of local credit markets when foreign banks enter through merge the bigger banks, and the entering of foreign banks though merge the smaller banks will decrease the loan prices of the banking markets comprehensively, loan prices of some market segments （old customers markets of the big loser bank） will be greatly reduced when foreign banks enter though Greenfield investments. The conclusion of this paper can provide an important guidance for CBRC＇s policy making for the entry of foreign banks.

关 键 词：外资银行 信贷市场 不对称信息 兼并收购 

分 类 号：F831[经济管理—金融学]