关系投资与社区金融机构发展——基于动态最优化分析

The Relationship-Based Investment and the Development of Community Financial Institutions——An Analysis Based on Dynamic Optimization

本文通过对社区金融机构小微贷款行为的动态优化分析发现,社区金融机构如果能够专注关系型贷款并且加大对软信息搜集和挖掘的投入,充分利用对软信息拥有和处理的比较优势,进行定价分析和服务提供,那么就能在激烈的市场竞争中胜出,特别是当最初收集客户信息达到一定数量情况下,将长期保持在利润最大化的增长轨迹上。静态比较证实,虽然政府对客户信息管制与均衡时的信息存量没有关系,但是可以降低社区金融机构的搜寻成本。

The dynamic optimization analysis of the micro-loan behavior of community financial institutions shows if the community financial institutions focus on the relationship-based loans and increase investment in soft information collec- tion and mining, take the full comparative advantages of the ownership and processing of soft information, use pricing analysis and provide service, they can win the fierce market competition, especially when the initial collection of customer information reaches a certain level, they can maintain a profit-maximizing growth for a long time. The static comparison confirms that, though the customer information control of the government has no relation to the information stock in equi- librium, the search costs of community financial institutions can be reduced.