混业经营体制的风险与效率——以金融功能观点为主线的文献评述

On the Financial Ventures and Efficiency of the Mixed Industrial Management System ——A Literature Review in the Perspective of the Financial Function

金融经营体制的演变,其本质是金融基本功能竞争性配置导致的金融分工深化。各种支持或反对混业经营的观点,从根本上可以归纳为对两种经营体制提供金融基本功能过程中的比较成本的不同理解。混业经营体制的比较成本优势在于范围经济效应和风险分散效应,比较成本劣势在于利益冲突和风险传递。

According to functional theory, the evolution of banking scope is driven by competitive allocation of basic financial functions. All the views for or against universal banking can be summarized as different understandings of the eomparative cost incurred by functional allocation.Comparative advantages of universal banking include economies of scope and risk diversification; Comparative disadvantages include risk contagion and conflicts of interest.