【作者】 何亮；

【导师】 何问陶；

【作者基本信息】 暨南大学 ， 金融学， 2005， 博士

【副题名】中间层组织和厂商理论的应用和扩展研究

【摘要】 从法律地位到经营组织模式,商业银行都是现实意义上的厂商。而经济金融理论在强调商业银行各种市场和社会功能的时候,往往却忽略这样一个事实。本论文应用微观金融理论,从厂商角度分析了商业银行在借贷市场上的中介行为,建立了不同市场结构下分析商业银行投入和产出机制的统一模型,并应用了这些模型及其所获得的理论结论探讨了银行的市场结构与货币政策效果、存款利率限制和商业银行的资产行为、银行的市场结构与银行竞争效率等方面的问题。从理论意义上来讲,本论文建立的一套分析框架可以为全面认识商业银行的中介功能、货币政策功能提供微观理论基础。而本论文通过理论模型所获得的一些关于货币政策效果、银行规制等方面的结论同样值得货币当局和银行规制部门借鉴和思考。特别是正值我国商业银行的公司制改造之际,论文对商业银行投入产出机制的分析、对商业银行空间竞争定位和“网络共享”等问题的探讨对改善商业银行的经营管理工作具有较强的实践指导意义。 本论文的研究路径沿着这样的思路展开。首先探讨商业银行的产生:然后,对商业银行的投入产出进行理论分析和界定,并在此基础上建立完全竞争、完全垄断、寡头垄断和垄断竞争的商业银行市场模型;最后,探讨通过商业银行中介融资和直接融资的关系。综观全文,本论文的创新之处体现在如下各个方面:全面地评述了金融媒介理论,并应用科斯关于“为什么存在厂商”的理论探讨了商业银行的产生;对商业银行的投入产出进行了深入的理论分析和界定;应用不同市场结构下的商业银行市场模型分析了银行体系市场结构对货币政策效果的影响;应用产业组织理论中关于产品差别化的研究成果探讨了商业银行的空间竞争定位问题;在产品质量信息不对称的基础上分析了商业银行的市场结构和竞争效率问题。 在实证和规范相结合的基础上,本论文得到如下理论结论。第一,商业银行的信息生产不仅来自于信息生产的规模经济,而且来自信息生产的范围经济,这更多还原

【Abstract】 Commercial bank is the typical and essential firm not only from the angle of law position, but also of composition and operation system. In spite of importance of the market and society function, the economics and finance theory neglects such the fact. On the basis of micro-finance theory and the firm theory, This paper analyzes the intermediary actions of the commercial bank in the credit market and constructs the unite model of input-output operation of the commercial bank under different market structures. The paper applies the model and the conclusion of the model to exploring the relation between bank’s market structure and effect of currency policy, the relation between the regulation of deposit interest rates and bank’s asset decisions, the relation between market structure and the competitive efficiency of the commercial bank. As far as the theoretical sense is concerned, the whole framework of the paper provides the full understanding of the intermediary function and the currency policy function of the commercial bank with the micro-theory basis. Furthermore, the conclusions of the model concerned with the currency policy and bank’s regulation are worth referring and considering for the authorities concerned. Especially on the occasion of a drive of our transforming the commercial bank to the real company, analysis to input-output mechanism of the commercial bank and research on the competitive location of space and on the bank "network compatibility" have the helpful meaning of practice for the improvement of efficiency in the operation and management of the commercial bank.The train of thought and research on the issue is as follows. Firstly the paper seeks the reason why the commercial bank exists; secondly the paper theoretically define the input and output of the bank, on the basis of which, the paper constructs the market model under such market structure as the perfect competition, the perfect monopoly, the oligopoly and the monopoly; finally the paper analyzes the relation between intermediary finance through the bank and direct finance through the market. Totally, there are such new ideas in the paper. On the basis of appraising the theory of the finance intermediary fully and entirely, the paper applies the theory of Coase’s "why the firm exists" to the discussion of bank existence. The paper deeply analyzes the definition of the input and output of the bank. Applying the model of market structure, the paper seeks the relation between bank’s market structure and effect of currency policy. Applying the productdifferentiation in the theory of Industrial Organization, the paper studies the competitive space location of the bank. On the basis of asymmetric information on the product quality, the paper analyses the relation between market structure and the competitive efficiency of the commercial bank.Through the combination of the positive and normative analysis, such conclusions have been draw from the paper. Firstly, the information production advantage of the commercial bank not only comes from the economies of scale, but also the economies of scope in the proceeding which stems from the role the banks play in payment systems. Secondly, the market structure of banks has the important effect on the currency policy efficiency of the authorities concerned. As concentration of market decreases, the negative effect on the efficiency is strengthened because the banks adjust their assets and debts. Thirdly, the effect on bank’s asset decision is complex from the regulation of deposit interest rates and the independence between decision on asset and decision on debt require a series of the rigid suppositions. Finally, due to asymmetric information of the quality on the bank service, the relatively concentrated market structure improves the consumer’s benefits and promotes the efficiency of bank competition.更多还原