长三角地区金融机构网络分布格局与扩张机理——以城市商业银行为例

Distribution pattern and expansion mechanism of financial institution network in the Yangtze River Delta

在区域一体化背景下,金融资源跨区域流动日益频繁,对金融机构产生了提供跨区域服务的需求。在理想状况下,金融机构将完全按市场化需求布局,但现实中会受到边界和政策的阻碍。本文以城市商业银行为例,借鉴金融地理学的相关理论,应用网络分析方法剖析了金融机构在一体化区域中的分布格局及扩张机理。基于2007-2013年长三角地区16市金融机构发展状况和城市商业银行分布数据,构建了城市商业银行布局网络,并进一步测量了边界效应和结构洞有效规模。结果显示:1长三角地区城市商业银行分布层级明显,异地经营逐渐增多,有突破江浙省界的趋势;除上海金融中心作用凸显之外,南京、杭州、宁波和台州也成为金融机构网络中的重要空间节点。2除政策管制占主导因素之外,城市金融需求、历史文化以及城市商业银行自身规模、股权结构和战略定位对其扩张路径也有重要影响。研究区域人均贷款、文化差异、地方财政收入自治率均对金融机构扩张有显著的影响,金融业比重、人均GDP和行政边界则并无显著作用。

Under the background of regional integration, flow of financial resources across regions is becoming increasingly more frequent, leading to a demand for cross region financial services. By network analysis, this study uses the theories of financial geography to explore how financial institutions distribute and expand in an integrated region under the background of market development, globalization, and local government's enterprise orientation, information technology development, and integration. In theory, for maximizing the benefits under a common market, financial resources might flow anywhere by using financial institutions as carrier rather than stay in one node. In practice, however, such movement might be impeded by boundaries between cities. Based on the study of the situation of financial institutions of 16 cities and distribution of city commercial banks in the Yangtze River Delta(YRD), this article builds a financial institution network(city commercial bank network)and measures its border effect and effective size of structure hole. The results show that:(1) The border effect of Jiangsu Province dropped from 0.30 in 2007 to 0.22 in 2013, while the border effect of Zhejiang Province reached 0.39 in 2013. Links between city commercial banks in different cities have become stronger, and increasingly more financial institutions locate their subsidiaries to other cities, even expand across provincial borders.As the border effect drops, the barrier between Jiangsu and Zhejiang Provinces might partly diminish along with the expansion of banks. Moreover, it is clear that the distribution of city commercial banks shows hierarchical structures. Shanghai as a financial center, along with Nanjing, Hangzhou, Ningbo, and Taizhou, serve as financial nodes in the financial institution network.(2) The expansion of city commercial banks is mainly restricted by policies and regulations. But it is also affected by financial demands, historical and cultural factors, and the banks' own condition and development strategies. Using Quadratic Assignment Procedure(QAP) to analyze the driving forces, this study revealed that balance of loans per person, culture diversity, and self-control ability of the local government of the revenue play important roles on city commercial bank expansion, while GDP per capita, added value of financial rate, and administrative boundary are not important factors. If a city commercial bank is controlled by a local government, financial development orientation of the local government will play a major role, while economic development and industrial demand is the central cause of financial flows. In city commercial banks dominated by foreign capital or private business, the location choice might be more flexible.In addition, empirical study of financial network evolution of Bank of Nanjing lends some support to earlier analysis. This article discusses how to study financial institution expansion mechanism and financial flow network from a geographical point of view. However, with the growth of city commercial banks in the Yangtze River Delta, new factors might arise and the situation may change quickly. Thus further study will shed light on any new situation. County level analysis might also reveal further details of the issues under discussion.