谁为中小企业融资?——基于信息处理能力跨期演化视角

Who Finance SME?—— Evolutionary Perspective Based on the Information Processing Capabilities

主流观点认为,银行机构与其融资对象之间,天然存在规模对应格局,其理论支撑是"小银行优势"假说。然而,对于广东省辖内大银行(分支)机构的田野式调研发现,大银行机构正积极布局小企业市场。本文的解释是,其一,凭借其范围经济优势,大银行机构具备以低利率水平向小企业融资的充分条件;其二,中国的大银行机构惯性地拥有"软"信息贷款技能;其三,将不同规模的银行机构置于跨期模型,动态综合分析其信息处理能力,不同规模的银行机构的"软""硬"信息处理能力,存在消长演化,即在阶段Ⅱ的竞争格局中,大银行机构越来越凸显出其综合信息处理的成本优势。该项研究结论的政策含义在于,缓解中小企业融资困境的思维方式,不能拘泥于增设中小银行机构,而应更多关注大银行机构的规模经济和范围经济拓展效应。

The mainstream view holds that among banking institutions and its financing target,there naturally exists patterns corresponding to the size,which theoretically is supported by the ＂ small bank advantage＂ hypothesis. However,the field research in the large banking institutions of Guangdong Province finds that they are extending actively in the small companies. One possible explanation is：First,China’s large banking institutions have a habit of ＂ soft＂ information lending skills,with its economic advantages,large banking institutions have sufficient conditions to finance small business at low interest rates;Second,placing the banking institutions of different sizes in inter temporal model,this paper dynamically and comprehensively analyzes its information processing capabilities,and finds that there exists growth and decline evolution in the ＂ soft＂ and ＂ hard＂ information processing capabilities in the banking institutions of different sizes,namely,in competition phase II,the big banking institutions are increasingly highlighting its cost advantages of integrated information processing. All the Findings of this paper indicate that to ease the financing difficulties,the mode of thinking can not rigidly adhere to the small banking institutions,but should pay more attention to the expansion effect of economic expansion of scale and scope economy in the large banking institutions.