基于关系型贷款的大银行对小企业的贷款定价研究

Research on Pricing of Relationship Lending from Big Banks to Small Firms

目前大银行及小企业的外部环境都发生了很大变化。大银行需要开拓小企业客户和市场,小企业也需要大银行提供全面的金融服务。本文深入分析大银行和小企业的共生关系,认为关系型贷款是大银行与小企业的最佳结合路径,大银行发放关系型贷款具有多种优势,银企之间的长期合作可以为银行带来潜在的收益——关系租金。结合关系型贷款的隐性契约特点,本文建立了合理分配关系租金收益、实现利润跨期补偿的关系型贷款定价模型。最后,采用我国某大银行2004—2007年部分数据,本文实证测算了关系租金收益,演示了关系型贷款定价模型的定价过程。

Nowadays, the external environment of big banks and small firms has changed greatly. Big banks need to further exploit the market of small firms and small businesses also need comprehensive financial service offered by big banks. Deep into the symbiosis between big banks and small businesses, this paper finds that the relationship lending is the best way to connect big banks and small businesses, and that big banks have more advantages to grant relationship lending. We also find that the long-term cooperation between big banks and small businesses can bring big banks potential earnings-relationship rents. Based on the implicit contract of relationship lending, we formulate the pricing model of relationship lending, which can distribute the rents of relationship lending and realize the revenue compensation spreading periods. At last, we calculate the rents of relationship lending with the data of some small businesses from one big bank between 2004 and 2007, and demonstrate the process of pricing the relationship lending.