外资银行进入模式选择:基于网点的信贷竞争

Foreign banks' entry modes:Competition among banks' branches

网点是银行的主要渠道资源,对竞争有重要影响。在网点规模方面,中资大小银行间存在巨大差异,这将影响外资银行入股模式下的选择;中资银行的网点规模远超过外资银行,这将影响外资银行独立发展模式下的竞争力。基于此,本文扩展经典Salop模型,建立了银行间基于网点的信贷竞争模型,其中,银行通过网点吸收信贷资金,并通过网点竞争借款者,银行间进行有资金约束的竞争。本文分析了银行网点规模的格局对外资银行进入模式选择的影响。

jBranches am a bank＇s main channel resources. In addition to g a bank＇s capability to raise low-cost deposits, branch scale cinfluence a bank＇s ability to competefor borrowers. In aaofiaer word, a bank＇s branch scales have great influence on credit fiom In China, largeal banks and small-median commercial banks （e.g.joint-stock commercial banks mad city commercial banks） differ greatly with respect to lheir branch quantifies, which affect foreign bank＇s equity investment and the decision ofinvesting in big and small banks. Fta-thermore, small and medium-sized commercial banks still far exceed foreign banks in the aspect of branch quantity. Thus, a foreign bank＇scompfiveaaess can be influenced by g lhrough Gnxeld investment. From the description above, we know that the slmcan of domestic banks＇ branch tles will have gninfluence on foreia banks＇ eIry modes. Based on the phenomo this paper builds a lhexxetical model to study credit correfition among banks＇ branches, where branches affect banks＇ competitiveness not （rely intheft financing capabilities but also in their abilities to cong for borrowers. Therefore, banks corrg with each other under funding constraints. We expand classic Salop modeland asstmae that banks＇ bres randomly dism＇bute among circle, then consider credit competilion among branches at ,h broth disln＇bulion. Finally, this paper studies howbrmch quantity on average affects foreign banks＇ enlry modes. When a foreign bank through eld investment, credit comlSelition maong big domestic banks,small domestic banks, and one foreign banks. When a foreign bank enters lhrough equity investment, llae foreign bank will improve tnological level of the domestic bank. Thecredit fion between big and small domestic banks. The coaclusions show lhat when domestic banks have large branch scales, llae revenue of Greenfield investment will hardly exceed that of equity inveslment. Furthermore,when liae market scale is huge or the unit investment cost of branch is relatively small, the net revenue of Greeaeld invesmaent will eceed lhat of equity investment. Wilh foreignbanks investing in building more branches, the foreign bank wifla superior risk t technology c, gain mere net revoaue of Greenfield inveslment. Otherwise, ltae netrevenue of entering through equity invesWnent is higher. Unde the market ent staorfing foreign bank＇s enlry through Greentield invesanent, ltae foreign bank can＇t expandflaeir branches in a short time and branch invesanent calls for high capital capability：. The foreign banks with capital sWength me inclined to entex through both eld inveslmentand equity investment The foreign banks with ordinary capital stnmglta am enter through eld inveslment ifltaey have superior risk n＇mmgement technology. This conclusionis mtppoaed by current ernpirical reseamk