差异化战略与银行业合作竞争

在信息时代,服务功能同质化的银行业之间对抗竞争剧烈。在差异化战略优势的基础上,构建银行间合作竞争型准市场企业共生组织,形成一个金融生态共生机体,以合作竞争替代对抗竞争,克服银行功能同质化倾向,打造银行业的合作竞争共生体,并在合理的收益分配模式下,激励创造更多的合作剩余。     

我国银行业竞争实力与发展模式

2007年以来,我国银行业借改革东风,一路高歌猛进,在全球银行业的地位和影响力与日俱增,与次贷危机打击下的欧美银行业形成鲜明对比。根据英国《银行家》杂志,进入全球1000强的我国银行数持续上升,从2006年的25家增加到2012年的110家,仅次于美国。但进入2013年,情况似乎在变化。2013年进入全球1000强的我国银行业基本延续了2012年格局,保持110家总数不变,保持进入前10强的4家不变,保持进入前100强的12家不变。根据2013年7月英国《银行家》杂志全球1000强银行排名,按一级资本和总资产规模,中国工商银行第一次排名世界第一。但也在同月,中国工商银行让出了保持六年之久的市值全球第一的桂冠。2013年或许成为我国银行业发展历程的又一个分水岭。     

我国银行业的市场竞争、金融创新与风险防范

竞争是商业银行进行金融创新的动力,而金融创新是提高银行核心竞争力的重要途径.在我国加入WTO后,商业银行面临的竞争日趋激烈,这不仅包括银行业内部的竞争,还包括与外资银行、非银行金融机构及资本市场的竞争.在这种环境下,我国的商业银行必须注重在观念、制度以及金融工具三个方面进行创新,这是提高核心竞争力的主要途径.然而,金融创新是一把双刃剑,其在提升商业银行核心竞争力,争取更大市场份额的同时,也给商业银行带来了无法回避的风险,有时这种风险甚至是致命的.因此,商业银行在创新过程中,必须加强对金融创新的监管并重视监管的有效性.     

Geographic Deregulation and Competition in the U.S. Banking Industry

We examine the effects of geographic deregulation on state‐level competition in U.S. banking markets over the period 1976‐2005. The empirical results confirm that the U.S. banks in general operated under monopolistic competition during the period examined. After partitioning the sample based on bank size we find that the market competition for large banks in Delaware, Oregon, and Rhode Island can be characterized as monopolistic while small banks in Arizona and Massachusetts seem to have operated under the conditions of perfect competition. The removal of geographic restrictions appears to have very limited and non‐uniform effect on state‐level competitive conduct. There is some evidence that the U.S. banking industry might have actually experienced a less competitive behavior in recent years due to increased market power of larger banks.     

Competition,Efficiency, and Stability in Banking

We examine the effect of competition on banking stability using a new measure of competition based on the reallocation of profits from inefficient banks to efficient ones. In a sample of European Banks, we find that this measure does capture competition, that competition is stability‐enhancing, and that the stability‐enhancing effect of competition is greater for healthy banks than for fragile ones. Our results suggest that efficiency is the conduit through which competition contributes to stability and that regulators must condition policy on the health of existing banks.     

银行信息产业属性的三维视角

银行除了掌握客户最重要、最基本的资信信息外，还能获得商品、资金、市场等丰富信息，这说明银行业在经营货币流、价值流的背后，实质上经营的是信息流，银行的信贷支付清算体系处理的实质，就是信息化的资金流。[编者按]     

信息化时代银行业发展反思

互联网及信息技术的发展，正改变着传统的银行经营方式，将导致金融市场的“脱媒”现象，并使得金融机构的经营者面临越来越大的风险。     

软件测试:质量守望者

现代银行业作为知识密集型产业,与传统银行业相比,在组织结构、业务流程和业务开拓等方面,日益体现出以知识和信息为基础的特征。银行业的这种行业的属性,决定了必须以飞速发展的信息技术为支撑。而银行业的IT应用质量与业务可用性、业务连续性高度关联,对系统的流畅性要求极高,关键业务系统故障对银行业来说,无疑会造成致命的打击。因此,确保银行业软件产品质量的重要性不言而喻。     

Market Size, Service Quality, and Competition in Banking

Local banking markets depict enormous variation in population size. Yet this paper finds that the nature of bank competition across markets is strikingly similar. First, markets remain similarly concentrated regardless of size. Second, the number of dominant banks is roughly constant across markets of different size; it is the number of fringe banks that increases with market size. Third, service quality increases in larger markets and is higher for dominant banks. The findings suggest that banks use fixed-cost quality investments to capture the additional demand when market size grows, thereby raising barriers to entry.     

Incentive-Based Lending Capacity,Competition and Regulation in Banking

This paper studies moral hazard in banking due to delegated monitoring in an environment of aggregate risk and examines its implications for credit market equilibrium and regulation, in a model where banks are price competitors for loans and deposits. It provides a rationale for an incentive-based lending capacity positively linked to the bank's capital and profit margin, for an oligopolistic market structure wherever banks have market power, and for capital requirements. Social-welfare-maximizing capital requirements are lowered in recessions, are higher the more fragmented the banking sector, and are increased when anti-competitive measures are removed. In equilibrium banks earn excessive profits and credit may be rationed. Journal of Economic Literature Classification Numbers: D82, G28, L13.     

Competition,Loan Rates,and Information Dispersion in Nonprofit and For‐Profit Microcredit Markets

We describe the competitive environment of microcredit markets globally and we study the effects of competition on loan rates of microfinance institutions (MFIs). We use a new database from rating agencies, covering 379 for‐profit and nonprofit MFIs in 67 countries over 2002–2008. Controlling for interest rate ceilings and other country‐specific factors, we first find that nonprofits are relatively insensitive to industry‐wide concentration changes, while for‐profits charge significantly lower rates in less concentrated markets. Second, we find spillover effects between the for‐profit and nonprofit segments. Third, we show that the effects of concentration are consistent with an information dispersion mechanism.     

Competition and diversification in the European Banking Sector

This paper provides new insights into the relationship between competition and diversification based on a sample of 1,570 commercial banks located in 28 European Union member states over the period of 2000 through 2016. The adjusted Lerner index and income diversification are the main indicators that account for bank-level competition and non-traditional activities. As robustness checks, we used Boone indicator along with diversification that was measured by the share of off-balance sheet items in total assets. We ran the estimations using multilevel analysis at country- and bank-level. Overall, competition stimulates bank diversification as financial institutions are continuously searching for additional sources of income to finance their competitive strategies. Bank performance, efficiency and R&D expenditure have positive effects on diversification. Opposite impacts characterize the market capitalization of listed domestic companies and GDP growth.     

Competition from Large, Multimarket Firms and the Performance of Small, Single-Market Firms: Evidence from the Banking Industry

We offer and test two competing hypotheses for the consolidation trend in banking using U.S. banking industry data over the period 1982–2000. Under the efficiency hypothesis , technological progress improved the performance of large, multimarket firms relative to small, single-market firms, whereas under the hubris hypothesis , consolidation was largely driven by corporate hubris. Our results are consistent with an empirical dominance of the efficiency hypothesis over the hubris hypothesis—on net, technological progress allowed large, multimarket banks to compete more effectively against small, single-market banks in the 1990s than in the 1980s. We also isolate the extent to which technological progress occurred through scale versus geographic effects and how they affected the performance of small, single-market banks through revenues versus costs. The results may shed light as well on some of the research and policy issues related to community banking.     

Banking Competition and Capital Ratios

Empirical studies provide evidence that bank capital ratios exceed regulatory requirements. But why do banks maintain capital levels above regulatory requirements? We use data for more than 2,600 banks from 10 European countries to test recent theories suggesting that competition incentivises banks to maintain higher capital ratios. These theories also predict that banks that engage in arm's length lending have lower capital ratios, and that shareholder rights and deposit insurance characteristics affect capital ratios. Consistent with these theories, our evidence robustly indicates that competition increases capital holdings. Banks that lend at arm's length exhibit lower capital ratios, whereas banks in countries with strong shareholder rights operate with higher capital ratios. We also show some evidence that generous deposit protection schemes that exclude non‐deposit creditors are associated with higher capital ratios. Our results have important policy implications. First, while the traditional view suggests imposing restrictions on bank activities in order to restrain competition, our analysis indicates the opposite, even after adjusting the regressions for risk‐taking. Second, weak shareholder rights undermine market forces that would otherwise encourage banks to hold higher capital ratios.     

信息不对称条件下银行业市场结构与市场竞争研究综述

将信息不对称理论纳入银行业市场竞争模型是当前跨经济学与金融学两个领域的热点问题。本文从理清产业组织理论中银行业市场结构与竞争和现代金融学中银行业信息不对称研究的发展脉络出发,对信息不对称与银行信息垄断和市场进入壁垒、信息不对称条件下银行的市场竞争行为等文献进行综述,评估银行业市场竞争程度的测量方法和实证分析结果。希望此综述对未来进一步的研究有所启示。     

中国私人银行发展的路径选择及对策

本文分析了中国私人银行业的发展前景,并结合发展现状分析了中资私人银行的优势和劣势,指明了现阶段的发展路径,并给出了若干具体建议.     

Banking Competition,Collateral Constraints,and Optimal Monetary Policy

We analyze optimal monetary policy in a model with two distinct financial frictions: monopolistically competitive banks that charge endogenous lending spreads, and collateral constraints. We show that welfare maximization is equivalent to stabilization of four goals: inflation, output gap, the “consumption gap” between borrowers and savers, and a “housing gap” that measures the distortion in the distribution of the collateralizable asset between both groups. Collateral constraints create a trade‐off between stabilization goals. Following both productivity and financial shocks, and relative to strict inflation targeting, the optimal policy implies sharper movements in the policy rate, aimed primarily at reducing fluctuations in asset prices and hence in borrowers' net worth. The policy trade‐offs become amplified as banking competition increases, due to the fall in lending spreads and the resulting increase in borrowers' leverage.     

中国银行业的专利信息及专利发展

检索中国银行业1985~2012年三类专利(发明专利、实用新型专利和外观设计专利)的申请总量、申请年度趋势、主要银行申请数量、专利发明人数、专利涉及的主要IPC分类号等信息,考量中国银行业的专利发展整体状况,特别是最具技术创新代表性的发明专利,结果显示:外资银行比内资银行更注重发明专利,外资银行发明专利的发展比内资银行起步要早,但发展较平缓;内资银行发明专利发展较快,申请数量高于外资银行。鉴此,中国银行业需加大对发明专利的研发投入,培养科技创新人才,提升专利发明质量。     

货币政策、银行竞争与风险承担的实证研究

本文以中国16家上市商业银行为研究对象,实证分析了货币政策调控、银行市场竞争与银行风险承担之间的关系,研究结果显示:货币政策与银行风险承担行为之间存在负相关关系,验证了货币政策的银行风险承担渠道的存在性;银行竞争与风险承担行为之间也存在负相关关系。而货币政策与银行竞争的相互作用对银行风险承担行为的影响并不明显,但其并未改变货币政策、银行竞争单独对银行风险承担的影响,进一步验证了货币政策、银行竞争的风险承担渠道的存在。     

银行业集中、竞争与稳定的研究述评

传统的观点认为银行业的集中有助于系统的稳定,这导致众多国家采取各种监管政策来限制竞争。但是,对于银行系统的竞争与集中对稳定性的影响,理论分析与实证研究均给出模糊的结论。本文分析各种度量竞争与稳定的方法,并在对1990~2010年间有关竞争、集中与稳定性的文献进行综述的基础上,提出了相应的政策建议,以期为我国银行业的监管提供启示和借鉴。