小额贷款公司双重目标的权衡——以浙江省为例的实证分析

The Tradeoff of Realizing the Dual Objectives about Micro-credit Companies: An Empirical Analysis Taking Zhejiang Province as an Example

本文利用2010—2012年浙江省小额贷款公司的数据,分析了小额贷款公司财务与社会双重目标之间的权衡问题。研究表明,尽管小额贷款公司愿意为所需要贷款的农户和小微企业提供贷款,但在追求财务可持续性的经营过程中,市场竞争会导致小额贷款公司增加提高经营效率以获取较高收益的动力;而这通常会让小额贷款公司上移目标群体,减少涉农、涉小贷款的投放力度。因此,小额贷款公司在财务目标与社会目标两者之间存在有所取舍的权衡选择。本文的研究结论为小额贷款公司的发展提供了一定的政策参考信息,同时也提出了相应的有效措施,以实现双重目标之间的权衡。

Using the data of 2010—2012 micro-credit companies in Zhejiang Province,this paper analyzes the tradeoff both financial and social goals about micro-credit companies. The research shows that the microcredit companies are willing to provide loans to farmers and small or micro businesses,but in the process of operation in pursuit of financial sustainability,the market competition will lead to micro-credit companies to improve the operating efficiency to obtain higher income. This will usually change the customer of micro-credit companies and reduce the loan to farmers and micro businesses. Therefore,micro-credit companies have the choice between financial goal and social objective. The result of this paper provides some valuable reference information for the development of micro-credit companies. At the same time,this paper also puts forward some corresponding effective measures in order to achieve the balance between the dual goals.