金融监管研究
金融鑑管研究
금융감관연구
FINANCIAL REGULATION
2015年
4期
45~60
,共null页
公地悲剧 大客户授信风险 竞合博弈
公地悲劇 大客戶授信風險 競閤博弈
공지비극 대객호수신풍험 경합박혁
The Tragedy of the Commons; the Credit Risk of Large Customers; Competition and Cooperation Game
2013年下半年以来，大客户信用风险持续暴露，成为区域经济金融稳定的重要影响因素。本文通过博弈分析并结合典型案例研究后认为，大客户已经成为某种意义上的银行“授信公地”，每单家银行为追求各自最大利益，非理性地进入或增加对大客户授信。单体理性形成对客户过度授信和风险难以管控的“合成谬误”，往往诱致企业盲目融资和产业扩张，最终因宏观经济变化或跨产业管理能力不足，涉足民间投融资而资金链断裂，导致“公地毁灭”。授信“公地悲剧”提供了研究大客户授信风险形成中银行发展导向扭曲、考核激励机制扭曲和银企关系扭曲的经济理论视角，可以为业者提供从机制层次研究探索大客户信用风险管控的思路，帮助其守好系统性、区域性风险的防控底线，推动银行业更好地支持实体经济的发展。
2013年下半年以來，大客戶信用風險持續暴露，成為區域經濟金融穩定的重要影響因素。本文通過博弈分析併結閤典型案例研究後認為，大客戶已經成為某種意義上的銀行“授信公地”，每單傢銀行為追求各自最大利益，非理性地進入或增加對大客戶授信。單體理性形成對客戶過度授信和風險難以管控的“閤成謬誤”，往往誘緻企業盲目融資和產業擴張，最終因宏觀經濟變化或跨產業管理能力不足，涉足民間投融資而資金鏈斷裂，導緻“公地燬滅”。授信“公地悲劇”提供瞭研究大客戶授信風險形成中銀行髮展導嚮扭麯、攷覈激勵機製扭麯和銀企關繫扭麯的經濟理論視角，可以為業者提供從機製層次研究探索大客戶信用風險管控的思路，幫助其守好繫統性、區域性風險的防控底線，推動銀行業更好地支持實體經濟的髮展。
2013년하반년이래，대객호신용풍험지속폭로，성위구역경제금융은정적중요영향인소。본문통과박혁분석병결합전형안례연구후인위，대객호이경성위모충의의상적은행“수신공지”，매단가은행위추구각자최대이익，비이성지진입혹증가대대객호수신。단체이성형성대객호과도수신화풍험난이관공적“합성류오”，왕왕유치기업맹목융자화산업확장，최종인굉관경제변화혹과산업관리능력불족，섭족민간투융자이자금련단렬，도치“공지훼멸”。수신“공지비극”제공료연구대객호수신풍험형성중은행발전도향뉴곡、고핵격려궤제뉴곡화은기관계뉴곡적경제이론시각，가이위업자제공종궤제층차연구탐색대객호신용풍험관공적사로，방조기수호계통성、구역성풍험적방공저선，추동은행업경호지지지실체경제적발전。
Since the second half of 2013, credit risks of large customers of banks continued to be disclosed, which has become an important factor influencing regional economic and financial stability. Through game-theory analysis illustrated with typical cases, this paper explains why large customers became the ＂credit commons＂ of banks. Each bank irrationally increases credit of large customers so that to maximize their profits. This in turn makes monomer rationality into ＂fallacy of composition＂ and finally leads to excessive credit. Therefore, industries expand blindly, as enterprises are financing blindly. Eventually, due to the changing of macroeconomic environment, insufficient cross-industry management ability and getting involved in the underground finance, the fund chain breaks, which lead to ＂commons destruction＂. The ＂tragedy of commons＂ on large customers＇ credit provides a reasonable perspective on the study of twisted orientation in bank development, incentive mechanism and the relationship between banks and enterprises. It also helps to find methods to control large customer credit risks, prevent systemic and regional risks, and spur banks to support the real economy more effectively.
