商业研究

商业研究

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中小企业信贷、银行规模与征信服务模式

姚洪心，吴伊婷，赵袁军   

  1. （东华大学 旭日工商管理学院，上海 200051）
  • 收稿日期:2017-08-26 出版日期:2018-01-25
  • 作者简介:姚洪心(1969-)，男，成都人， 东华大学旭日工商管理学院教授，管理学博士，研究方向：博弈论与产业组织理论；吴伊婷(1992-)，女，浙江嘉兴人， 东华大学旭日工商管理学院硕士研究生，研究方向:中小企业与银行征信；赵袁军(1988-)，男，山东薛城人，东华大学旭日工商管理学院博士研究生，研究方向:财务管理与资产经营。
  • 基金资助:
    中央高校基本科研业务费专项资金资助项目，项目编号：CUSF-DH-D-2015065;国家留学基金委资助项目，项目编号：201506630047。

Small and Medium-sized Enterprises Credit, Bank Size and Credit Reporting Service Mode

YAO Hong-xin，WU Yi-ting，ZHAO Yuan-jun   

  1. (Glorious Sun School of Business and Management, Donghua University, Shanghai 200051,China)
  • Received:2017-08-26 Online:2018-01-25

摘要： 建立完善的中小企业征信体系是解决银企之间信息不对称的有效途径。本文以第三方征信机构的服务模式为研究视角，构建征信机构、商业银行与中小企业三方之间的动态博弈模型，讨论第三方征信服务的作用及不同政策目标下征信机构的运行模式选择问题。结果表明：（1）引入征信机构服务会提高中小企业信贷市场的效率——市场贷款利率降低、信贷发放总量增加，但征信机构不同服务模式对信贷市场效率的影响程度不同。（2）征信机构最优的服务模式因不同政策目标而异，在征信机构利润最大化目标下，其仅向中小银行提供信用信息；在借款企业剩余最大化目标下，将同时向大型银行和中小银行提供信用信息；在社会福利最大化目标下，将根据银行贷款门槛的差异程度而定。现阶段我国征信体系建设的政策目标是借款企业剩余最大化和社会福利最大化，征信机构应选择第三种即向所有银行都开放有偿信息服务；未来随着征信服务业的成熟、市场的发展，民营征信机构成为体系的主体，利润最大化将成为主要政策目标，征信机构可采取第三种即仅向中小银行提供中小企业信用信息。

关键词: 中小企业, 征信机构, 银行规模, 服务模式, 古诺竞争

Abstract: To establish a perfect credit system for small and medium-sized enterprises is an effective way to solve the information asymmetry between banks and enterprises. Based on the service mode of the third-party credit reporting agencies, this paper constructs a dynamic game model among credit agencies, commercial banks and three SMEs to discuss the role of the third party′s credit information service and the choice of the operation mode of credit bureaus under different policy objectives. The results show that：（1）the introduction of credit bureaus will improve the efficiency of the credit market for SMEs-lowering market loan interest rate and increasing the total amount of credit, but the degree of influence of different service modes is different;(2)optimal service mode of credit institutions varies because of different policy objectives, and in profit maximization goal of credit institutions, it provides credit information only to small banks; in the goal of maximizing the remaining loan enterprise, it will provide credit information to large banks and small banks at the same time; in the social welfare maximization goal, it will determine depending on the degree of the bank lending threshold. At the present stage, the policy goal of China′s credit system construction is to maximum surplus of borrowing enterprises and maximization of social welfare, and credit agencies should choose to open paid information services to all banks; in the future, with the maturity of the credit service industry and the development of the market, private credit agencies will become the main body of the system, the maximization of profit will be the main policy goal, and the credit agencies can provide SMEs credit information to small and medium-sized banks.

Key words: SMEs, credit reporting agency, bank size, service mode, Cournot competition