治理结构与市场结构：一个金融创新的制度视角

金融创新是商业银行通过实现规模经济和范围经济,获得超额利润的必由之路,但是只有在健全的法人治理结构(总行与分支机构间信息对称、监督有效)下,商业银行才有创新的动力;即使商业银行存在创新的内部激励,在当前商业银行寡头市场条件下的“资金上存”机制会削弱其创新积极性;商业银行金融创新必须立足于改革内外激励机制,实现可持续发展。

Governance Structure and Market Structure: a Viewpoint from a Financial Innovative Policy Prospective

Through realizing scale economy and scope economy,financial innovation is the only way for commercial banks to realize excess profit.However,only under sound legal person governance structure(information symmetry and effective monitoring between head office and branches),there is a motive power for the commercial banks.Although there is an internal stimulation of the innovation in commercial banks,the system of "capital reserve" will weaken their innovation incentive under the oligopoly market condition at present.The reform of internal incentive system is the only way for commercial banks to realize sustainable development.