信息优势、市场预期与国有商业银行的经营业绩-基于不完全信息COURNOT混合寡占模型的分析

本文基于不完全信息Cournot混合寡占模型前瞻性地分析了国有商业银行所拥有的中国存款市场信息优势与不具有信息优势的外资银行对这些市场信息预期的变化将对国有商业银行的经营业绩带来怎样的影响,以及国有商业银行的信息优势是否必然会转化为与外资银行进行策略性竞争中的竞争优势等重要问题。研究发现,在现实条件下,与不具备信息优势时相比,拥有存款市场供给行情的信息优势会使得国有商业银行大体上获得更多的均衡利润;而当国有商业银行拥有存款供给利率敏感性方面的信息优势时,在一定条件下,国有商业银行的信息优势反而有可能变为竞争劣势。

INFORMATION ADVANTAGES,MARKET EXPECTATIONS AND THE PERFORMANCE OF STATE-OWNED COMMERCIAL BANKS:AN ANALYSIS BASED ON THE COURNOT MIXED OLIGOPOLY MODEL WITH INCOMPLETE INFORMATION

BASED ON TWO COURNOT MIXED OLIGOPOLY MODELS WITH INCOMPLETE INFORMATION,WE ANALYZE HOW INFORMATION ADVANTAGES ABOUT THE SAVINGS MARKET AND EXPECTATIONS OF FOREIGN BANKS INFLUENCE THE PERFORMANCE OF STATE-OWNED COMMERCIAL BANKS.IN PARTICULAR,WE STUDY WHETHER INFORMATION ADVANTAGES COULD BE TRANSLATED INTO COMPETITIVE ADVANTAGES.WE FIND THAT INFORMATION ADVANTAGES DO BRING THE STATE-OWNED COMMERCIAL BANKS HIGHER EQUILIBRIUM PROFITS.HOWEVER,SPECIFIC INFORMATION ADVANTAGES-SUCH AS THOSE ON THE SENSITIVITY OF SA...