财政支持中小企业信用担保政策研究
贾康 刘微 孟艳 孙洁 金荣学 (4)
Policy Research on the Fiscal Support to SME Credit Guarantee
JIA Kang LIU Wei MENG Yan SUN Jie JIN Rong-xue (4)
货币政策与银行风险承担
陈玉婵 钱利珍 (14)
Monetary Policy and Risk-Taking of Banks
CHEN Yu-chan QIAN Li-zhen (14)
中小企业信贷可得性的影响因素
周鸿卫 王 晶 (21)
Factors to Impact the Credit Availability of SMEs
ZHOU Hong-wei WANG Jing (21)
智力资本与区域性银行经营模式转型
陈 晞 (31)
Intellectual Capital and the Business Model Transformation of Regional Banks
CHEN Xi (31)
商业银行信贷资产质量发展趋势——以工商银行和建设银行为例
谢坤锋 (37)
The Trend of Commercial Bank’s Credit Asset Quality——ICBC and CCB as Cases
XIE Kun-feng (37)
资产证券化对系统性风险的影响机制
王 晓 (43)
The Mechanism of Asset Securitization Impacting Systemic Risk
WANG Xiao (43)
资本充足监管下的银行资本与风险调整行为
袁庆禄 (49)
The Bank’s Capitals and the Behaviors of Risk Adjustment under the Supervision of Capital Adequacy
YUAN Qing-lu (49)
金融支持中小企业的政策框架——日本的经验教训与启示
侯世宇 范洪波 (56)
The Policy Framework of Financial Support for SMEs——Japan’s Experience and Its Enlightenments
HOU Shi-yu FAN Hong-bo (56)
客户经理胜任力特征分析——基于江苏省城市商业银行的调查
吴斌 曾韵 王惠兰 (63)
An Analysis of the Competency Characteristics of Account Manager——Based on A Survey of City Commercial Banks in Jiangsu Province
WU Bin ZENG Yun Wang Hui-lan (63)
私人银行业务发展的法律障碍及对策
齐甜 张歌 徐天彤 (69)
The Legal Obstacles to the Development of Private Banking and the Countermeasures
QI Tian ZHANG Ge XU Tian-tong (69)
国外商业银行改革研究综述及其启示
戴璐 陈曦 魏冰清 (76)
A Review of the Studies of Foreign Commercial Banks Reform and the Enlightenments
DAI Lu CHEN Xi WEI Bing-qing (76)
财政支持中小企业信用担保政策研究
贾康 刘微 孟艳 孙洁 金荣学
［摘 要］ 在财政支持中小企业信用担保中，应明确中央财政与地方财政支持中小企业信用担保体系的责任；完善中小企业信用担保组织体系，促进财政支持路径的集中化与系统化；建立风险共担机制，实现中小企业政策性担保业务的可持续；提高财政资金的使用效率与透明度，促进财政支持制度的规范化；明确政策性信用担保机构的政策性目标，落实国家发展战略；明确小企业为信用担保机构侧重支持的对象；继续实施税收优惠政策，支持商业性信用担保机构的发展；以互助性信用担保机构为龙头，构建地域性中小企业服务平台；推进中小企业信用担保机构监管体系的完善等。
［关键词］ 财政；中小企业；信用担保；风险共担
［Abstract］ This paper analyses the existing problems in fiscal support to SME credit guarantee and proposes policy suggestions. The author suggests to clearly define the resposibilities for the fiscal support to SME credit guarantee between central government and local government; improve the organization system of SME credit guarantee; promote the centralization and systematization of fiscal support paths; construct a risk-sharing mechanism to achieve the sustainablity of SME policy guarantee business; improve the transparency and efficiency in the use of fiscal funds to promote the standardization of fiscal support system; clearly define the policy goal of policy credit guarantee agencies and implement national development strategies; clearly prescribe SMEs to be the key objects supported by credit guarantee agencies; continue to implement preferential tax policies to support the development of commercial credit guarantee agencies; prescribe mutual-aid credit guarantee agencies as leaders to construct regional service platforms for SMEs; promote the improvement of the supervision system of SME credit guarantee agencies.
［Key words］ fiscal; SME; credit guarantee; risk-sharing
货币政策与银行风险承担
陈玉婵 钱利珍
［摘 要］ 本文从货币政策影响银行风险承担的作用机理入手，总结了风险定价模型效应、逐利锦标赛效应、思维定势效应和中央银行沟通反馈效应等四条货币政策对银行风险承担影响的渠道，并以2004~2010年中国16家上市银行的数据为样本，采用系统广义矩估计方法实证分析中国货币政策对银行风险承担的影响。实证分析结果表明：我国货币政策与银行风险呈负相关关系，即宽松的货币政策鼓励了银行的风险承担；随着存款利率水平和存款准备金率的降低，银行的风险承担提高；同时中国银行的风险承担与GDP的增长呈正相关关系，即具有显著顺周期特征。
［关键词］ 货币政策；银行风险；风险承担；顺周期
［Abstract］ Based on the mechanism of monetary policy affecting the risk-taking of banks, this paper summarizes four channels of the impacts of monetary policy on the risk-taking of banks, the effects of risk pricing model，search for yield, habit formation and the communication and feedback of central bank. With the data sample of Chinese 16 listed banks and the estimation method of system GMM, the paper empirically analyses the impacts of Chinese monetary policy on the risk-taking of banks. The results show that Chinese monetary policy negatively relates to the risk-taking of Chinese banks, that is, loose monetary policy encouraging banks to take risks; with the decrease of deposit interest rate and deposit reserve ratio, the risk-taking of banks increases; the risk-taking of Chinese banks positively relates to the Chinese GDP growth, which means a significant pro-cyclical feature.
［Key words］ monetary policy; bank risk; risk-taking; pro-cyclical
中小企业信贷可得性的影响因素
周鸿卫 王 晶
［摘 要］ 本文利用中国人民银行征信系统的相关数据，实证研究湖南地区中小企业信贷可得性的影响因素，以检验银行对中小企业的贷款技术。实证结果表明：大型和跨区域性银行对中小企业未采取关系型贷款；贷款银行对中小企业的财务特征不太重视；大型和跨区域性银行对中小企业贷款主要采用信用评分技术。作者建议：第一，整合信息资源，发展独立的信用评估机构对中小企业进行信用评估，降低大型和跨区域性银行对中小企业贷款成本和信息不对称程度；第二，大力发展区域性中小商业银行，并鼓励其形成和充分发挥对中小企业进行关系型贷款的比较优势。
［关键词］ 中小企业；银行；信贷可得性；银企关系；关系型贷款
［Abstract］ With the data in the credit system of the People’s Bank of China, this paper empirically researches the factors to impact the credit availability of the SMEs in Hunan Province and examines the technology of bank lending to SMEs. The empirical results show that large-scale and cross-regional banks have not provided relationship loan for SMEs; the banks pay little attention to the financial characteristics of SMEs; the main technology of large-scale and cross-regional banks leading to SMEs is credit score. The author’s suggestions are, first, to integrate information resources and develop independent credit rating agencies for SMEs credit assessment so as to reduce asymmetric information between the large-scale and cross-regional banks and the costs of the loans to SMEs; second, to make efforts to develop small and medium-sized regional commercial banks and encourage the banks to form and utilize their comparative advantages of relationship loan for SMEs.
［Key words］ SME; bank; credit availability; relationship between bank and enterprise; relationship loan
智力资本与区域性银行经营模式转型
陈 晞
［摘 要］ 本文通过对国内主要区域性银行智力资本的测算，研究智力资本对银行绩效的影响，结果发现，在智力资本中，资本增值系数对银行绩效有主要推动作用，而人力资本增值系数对于银行绩效提升没有显著作用，结构资本增值系数则与银行绩效呈负相关。这说明物质资本仍是当前区域性银行最重要的资源，其对银行绩效的贡献最大，区域性银行的盈利模式仍然依靠传统的高资本消耗模式。本文认为，与传统发展模式不同，区域性银行的发展应该在新环境下依靠智力资本，应转向依靠经营和管理智力资本的发展模式，而非依靠传统的高信贷规模扩展、单纯依赖物质资本投入。
［关键词］ 区域性银行；智力资本；人力资本；银行绩效；盈利模式
［Abstract］ Based on the calculation of the intellectual capitals of major domestic regional banks, this paper analyses the impacts of intellectual capitals on the performance of banks. The results show that the VAIC of the intellectual capital plays a main role in the improvement of the performance of banks, but the HCE has no effect on the improvement and the SCE negatively relates to the performance. The above results show that physical capitals are still the most important resources of regional banks and make the largest contribution to the performance of banks; the profit mode of regional banks is still the traditional one that relies on high capital consumption. This paper argues that, different from the traditional mode, the development mode of regional banks should be shifted to rely on the intellectual capital, the operation and management of intellectual capital, rather than the traditional scale expansion of credits and the single investment of physical capitals.
［Key words］ regional bank; intellectual capital; human capital; bank performance; profit mode
商业银行信贷资产质量发展趋势——以工商银行与建设银行为例
谢坤锋
［摘 要］ 中国银行业信贷资产质量状况一直为金融业界与学术界所关注，各方对其未来发展趋势看法不一。考虑到信贷资产质量的变化是内外部因素共同作用的结果，本文依次选取了经济周期、影子银行、地方政府偿债能力等外部宏观因素指标，以及关注贷款、银行内部风险管理水平、信贷资产状况等内部因素指标，分别就指标自身状况、对信贷资产质量的作用机制与影响效果进行了分析。基于本文的分析，在短期内，商业银行信贷资产指标受惯性影响，仍将呈现双降态势，预计中期将出现一定反弹，若要实现信贷资产质量持续稳定的目标，监管部门与商业银行应着手采取相应措施。
［关键词］ 工商银行；建设银行；信贷资产；不良贷款；影子银行；贷款稀释度
［Abstract］ The credit asset quality of China’s banking sector is continuously a concerned issue in financial sector and academia and the views on its future development trend vary greatly. Considering that the change of the credit asset quality results from the interaction of internal and external factors, this paper selects external macroeconomic factors, which includes economic cycle, shadow bank, local government’s solvency, and internal factors, which includes concerned loan, bank’s internal risk management, the status of credit assets, as indicators to analyse the status of the indicators, the mechanism and results of the impact on credit asset quality. The analysis of the paper shows that, influenced by inertia, the indicators of commercial bank’s credit assets will decrease in the rate and amount of NPL(Non-Performing Loan), but the rate and amount are expected to rise in medium-term. To reach the target that the quality of credit assets continues to be steady, the supervision authorities and commercial banks should take corresponding measures.
［Key words］ ICBC; CCB; credit asset; non-performing loan; shadow bank;dilution of loan
资产证券化对系统性风险的影响机制
王 晓
［摘 要］ 次贷危机表明，资产证券化等金融创新可以和商业银行体系一样促使系统性风险的形成、积累和传导。但国内外学术界并没有对资产证券化在系统性风险积累和传导中的作用机制形成完整的结论。通过分析发现，资产证券化的复杂运作机制、基本功能以及基础资产均可以促使系统性风险的形成和积累，并通过基础资产和证券化产品两个渠道引起系统性风险的传导。因此，中国在设计资产证券化时，必须灵活确定具体产品的长短期模式，严格规定基础资产的构成标准，并基于“监管特许权”理论来构建评级机构，同时遵循“宏观审慎”原则来创建资产证券化的监管体系。
［关键词］ 资产证券化；系统性风险；金融创新；金融危机；金融监管
［Abstract］ The subprime mortgage crisis shows that, like commercial banking system, asset securitization and other financial innovations may promote the formation, accumulation and conduction of systemic risk. Domestic and foreign academic studies have not formed a complete conclusion of the mechanism of asset securitization impacting the accumulation and conduction of systemic risk. The analysis of the paper shows that the complicated operation mechanism, basic functions of asset securitization and basic assets may promote the formation and accumulation of systemic risk and conduct systemic risk through basic assets and security products. Therefore, while Chinese asset securitization is designed, it is necessary to flexibly determine the short-term and long-term pattern of specific product, strictly define the standard of basic asset composition, build rating agencies based on “regulatory concession” theory and adhere to “macro-prudential”principle to create a regulatory system for asset securitization.
［Key words］ asset securitization; systemic risk; financial innovation；financial crisis; financial regulation
资本充足监管下的银行资本与风险调整行为
袁庆禄
［摘 要］ 本文采用12家国内上市商业银行2004～2010年的数据，建立面板联立方程模型，运用GMM估计方法，研究中国资本监管新要求对商业银行资本与风险调整行为产生的影响。分析结果表明：资本监管新要求的实施对提高银行资本充足率水平的作用明显；中国银行业的资本充足率整体水平稳步上升，银行风险水平逐步下降，资本监管已初见成效。监管压力仍是银行提高资本充足率的主要动力，依靠国家保护无益于资本补充长效机制的建立；银行只有不断优化自身资产结构，满足风险管理需求，提高持续盈利能力，通过利润分配增加核心资本，才能有效解决未来资本缺口问题。
［关键词］ 资本充足监管；银行资本；银行风险；资本充足率
［Abstract］ Based on the data of 12 listed commercial banks from 2004 to 2010 and GMM estimation method, this paper constructs panel simultaneous equations to estimate the impacts of the Chinese new requirements of capital supervision on commercial bank’s capitals and behaviors of risk adjustment. The results show that the implementation of the new requirements of capital supervision has significant effects on the improvement in banks’ capital adequacy ratio; the overall level of the capital adequacy ratio of China’s banking sector is steadily increasing and banks’ risks are gradually declining; the capital supervision has achieved initial success. The pressure from the supervision is still the main force to drive the banks to raise capital adequacy ratio. The protection of the government is not conducive to establishing a long-term mechanism of capital supplement. The banks can effectively solve the problem of future capital gap only if they continue to optimize their asset structure, meet the requirements for risk managements, improve sustaining profitability and increase core capital through the distribution of profits.
［Key words］ capital adequacy supervision; bank capital; bank risk; capital adequacy ratio
金融支持中小企业的政策框架——日本的经验教训与启示
侯世宇 范洪波
［摘 要］ 通过完善信用补充体系，调整政策性金融制度，日本政府强调运用“国家干预主义”来消除微观市场失灵，借以推动中小企业信贷市场的有效运转。然而，行政干预效果的短期性、财政负担的持续恶化以及金融资源配置效率的损失，意味着这种“强制性制度变迁”存在着内在的脆弱性。相比之下，通过丰富货币政策工具组合，采取市场化的弹性调控手段，日本央行信贷政策的结构调整更具效率。日本经验教训对于我国的启发意义在于，只有合理选取和调整公共政策，构建整体性的中小企业产业政策框架，才能真正建立起金融支持中小企业的长效机制。
［关键词］ 金融支持；中小企业；银行惜贷；产业结构调整
［Abstract］ Through the improvement of credit supplement system, the adjustment of policy-oriented financial insitution, Japan’s government stresses to eliminate micro-market failure by the“state interventionism” in order to promote the effective operation of SME （small and medium enterprise） credit market. However, the short-term effects of administrative intervention, the continuous increase of financial burden and the efficiency loss of financial resources allocation show that there is an inherent vulnerability in the“mandatory institutional arrangement”. In contrast, the structural adjustment of the Japanese central bank’s credit policies is more efficient by the increase of combined monetary rules and the market-based flexible control. The enlightenment of Japan’s experience to China is that a long-term mechanism of financial support for SMEs can be established only when the public policy is reasonably selected and adjusted and the integral framework of industrial policy is built.
［Key words］ financial support; SME; bank reluctance to lend; industrial restructuring
客户经理胜任力特征分析——基于江苏省城市商业银行的调查
吴斌 曾韵 王惠兰
［摘 要］ 本文以近年来快速发展的城市商业银行为例，通过专家小组意见法确立了包含价值、品质与特质，元胜任，情感胜任，知识技能，行为胜任5个胜任力特征维度的城市商业银行客户经理胜任力词典，并以此作为外生潜变量构建了城市商业银行客户经理胜任力的偏最小二乘法评价模型。基于江苏地区城市商业银行问卷调查的分析结果显示：显著影响客户经理胜任力的外生潜变量依次为价值、品质与特质，元胜任，知识技能和行为胜任。情感特征没有通过检验,其对胜任力有影响但不显著。此外，元胜任对其他内生潜变量具有显著的影响。
［关键词］ 城市商业银行；客户经理；胜任力；情感胜任
［Abstract］ The rapidly developping city commercial banks in recent years as cases, this paper establishs a competence dictionary of the account manager of city commercial bank with the method of expert-group-opinion. The dictionary includes five dimensions of competence characteristics, value, quality and feature/basic competence/emotion competence/knowledge and skills/behavioral competence, and utilizes the characteristics as endogenous latent variables to establish a Partial Least Squares model for the competence evaluation of account manager. The analysis based on a survey of city commercial banks in Jiangsu province shows that the endogenous latent variables significantly impacting the competence of account manager are value, quality and feature/basic competence/knowledge and skills/behavioral competence. The emotion competence does not pass the examination and it impacts the competence but not significantly. In addition, the basic competence significantly impacts the other endogenous latent variables.
［Key words］ city commercial banks; account manager; competence; emotional competence
私人银行业务发展的法律障碍及对策
齐甜 张歌 徐天彤
［摘 要］ 私人银行业务在发展过程中，遇到了内部、社会、法律等多个方面的障碍。中国私人银行业务的发展需要监管部门的严格监督、立法部门的法律完善以及相关金融机构的大力协助，在外汇、反洗钱、境外投资等领域取得更大的进步。同时，私人银行也应当关注这种新兴服务方式带来的法律风险，采取合理有效的措施加以防范和化解，包括：建立和完善法律风险管理系统、技术系统与人员支持系统，通过特别机制鼓励银行积极承担反洗钱义务，实行混业经营、统一监管，放松外汇管制，规范境外投资，制定专门法律规范。
［关键词］ 商业银行；私人银行业务；高净值客户；法律风险；法律监管
［Abstract］ Private banking has eccountered internal, social, legal and other obstacles in the process of its development. The development of Chinese private banking needs the strict supervision of supervision institutions, the law improvement of legislative institutions and the strong assistance of relatated financial institutions so as to achieve greater progress in the fields of foreign exchange, anti-money laundering, overseas investment. Meanwhile, banks should pay attention to the legal risks of this new service and take reasonable and effective measures to prevent and eliminate risks. The measures include establishing and improving the systems of legal risk management, technology and staff support, encouraging banks to positively assume for the obligations of anti-money laundering, implementing diversified operation and unified supervision, relaxing foreign exchange controls, regulating overseas investment and drafting specialized laws and regulations.
［Key words］ commercial bank; private banking; high-net-worth client; legal risk; legal supervision
国外商业银行改革研究综述及其启示
戴璐 陈曦 魏冰清
［摘 要］ 发达国家、新兴市场国家和转型经济国家的银行业经历了不同的改革历程，已有研究分别对这些国家的银行业自由化、私有化以及其中的引进外资等各种改革模式，调查或检验了微观层次与宏观层次的经济效果，并对相关的影响因素进行了分析。这些研究涉及单一国家的背景或多国比较，得出的结论不尽相同。在探究影响因素方面，一些研究分析了制度环境的影响，以及改革在不同利益主体间的财富分配，即效率与公平问题。针对中国银行业改革的研究则表明，国有商业银行选择的改革方式对改制效果、外资金融机构进入中国市场的方式以及中国金融业的竞争格局产生了重大影响。
［关键词］ 商业银行；改革模式；改革进程；制度环境
［Abstract］ The banks in developed countries, emerging markets countries and transitional-economy countries, experienced different courses of reform. The existing studies focus on the liberalization, privatization, the introduction of foreign investment and various reform modes of the above countries, investigate or verify micro-and macro-economic effects and analyse related factors. These studies involve the background of a single country or the multi-country comparison and gain different conclusions. To explore the influencing factors, some studies analyse the influence of institutional environment and the wealth distribution between different benefit-related subjects, which is an issue of efficiency and equity. The studies related to Chinese banking reform show that the reform modes chosen by state-owned commercial banks have great impacts on the effects of reform, mode of foreign financial institutions entering Chinese markets and the competition of Chinese financial industry.
［Key words］ commercial bank; mode of reform; reform process