“小银行优势”理论面临的挑战——国外研究进展及评论

The Challenge to the Theory of Small Bank Advantage:A Literature Survey

"小银行优势"是指小银行在利用"软信息"(不可验证的信息)评估投资项目的时候具有比较优势(相对于大银行)。传统的"小银行优势"理论可概括为高度简化的二分法:"小银行—软信息—关系型贷款—小企业;大银行—硬信息—财务报表型贷款—大企业"。最近几年,这种高度简化的二分法正面临着来自理论与实践两个方面的挑战。本文总结了最近几年国外研究文献对传统小银行优势理论提出的挑战,并做了简要评论,讨论了其对中国的启示。

The phrase 'Small Bank Advantage' refers to small banks' comparative advantage to large banks on estimating investment projects through soft information(unverifiable information). Traditional theory of 'Small Bank Advantage' could be generalized by a greatly simplified dichotomy:'Small Bank-Soft Information-Relational Lending-Small Enterprise,Large Bank-Hard Information-Financial Statements Based Loans-Large Enterprise'. This dichotomy,however,is facing challenges from theoretical and empirical sides in recent years. This paper summarized English academic literatures on challenges to the traditional theory of small bank advantage,reviewed them,and discussed inspirations from them to China.