社会公众参与视角下金融创新监管的多方演化博弈分析  

Multi-party Evolutionary Game Analysis on Supervision of Financial Innovation under the Perspective of Public Participation

作　　者：王鹏民 罗公利[2] 侯贵生 WANG Peng-min;LUO Gong-li;HOU Gui-sheng(College of Computer Science and Engineering,Shandong University of Science and Technology,Qingdao 266590,China;College of Economics and Management,Shandong University of Science and Technology,Qingdao 266590,China)

机构地区：[1]山东科技大学计算机科学与工程学院,山东青岛266590 [2]山东科技大学经济管理学院,山东青岛266590

出　　处：《系统工程》2023年第5期104-114,共11页Systems Engineering

基　　金：国家社科基金后期资助项目(20FJYB031);山东省社科基金面上项目(17CHLJ40);山东省软科学研究计划项目(2017rkb01034)。

摘　　要：“互联网+金融创新”带来的金融创新泛滥与社会公众广泛深度参与,均为政府部门监管提出新的挑战。本文突破传统政企二元模式,重新梳理政府部门、金融机构、社会公众三者的角色定位与交互关系,构建三方演化博弈模型,引入反映政府金融创新监管行为的监管效应因子与风险教育因子,调节各主体的博弈关系与策略收益,探究监管机制与市场机制双重影响下金融创新监管的“悖论”消解与多方共赢问题。以P2P网贷为例进行数值分析,发现政府部门对监管效应与风险教育的重视与提升,尤其是二者同步提升能够有效促使金融创新监管体系由(保守监管,过度创新,盲目参与)转变为(积极监管,稳健创新,理智参与)的均衡稳定状态。据此为政府部门提出监管策略建议,充分发挥监管机制的直接效用与市场机制的间接效用,双向并举构建多方协同共赢的金融创新监管体系。The proliferation of financial innovation and the extensive and deep participation in financial innovation of the public has posed new challenges for the supervision of government departments under the circumstances of“Internet plus financial innovation”.The supervision of financial innovation needs to break through the traditional dual mode of“government-enterprise”and sort out the role orientation and interaction among government departments,financial institutions and the public.Two coefficients representing the supervision effect of financial innovation and risk education of the public which can reflect government supervision behavior are set to adjust the game relationship and strategic income of the three parties.Then a tripartite evolutionary game model is constructed to explore the resolution of“paradox”and win-win situation of financial innovation supervision under the dual effects of regulatory mechanism and market mechanism.At the same time,further research finds that the promotion of government regulatory effect coefficient and public risk education coefficient,especially the synchronous promotion,can effectively promote the balanced and stable state of financial innovation regulatory system from(negative supervision,excessive innovation,blind participation)to(active supervision,steady innovation,rational participation)through the numerical simulation of the development process of P2P.Finally,some suggestions including strict supervision of financial institutions and risk education for the public are put forward to the government departments,so as to give full play to the direct effect of supervision mechanism and the indirect effect of market mechanism and build a financial innovation supervision system which can achieve multi-agent cooperation and all-win results.

关 键 词：社会公众参与 金融创新监管 多主体 演化博弈 

分 类 号：C931[经济管理—管理学] F830