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Game Analysis of Chinese commercial banks' bad loans debt-equity swap decision

Author: Xu
Tutor: ChiGuoTai；ZhangQiZuo
School: Dalian University of Technology
Course: Accounting
Keywords: Debt-equity swap Game Analysis Non-performing loans Balanced State-owned commercial banks Reform of the financial system
CLC: F832.2
Type: Master's thesis
Year: 2000
Downloads: 196
Quote: 0
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Abstract


With the deepening of China's reform of the financial system, the high debt levels of non-performing loans of commercial banks and enterprises has attracted more and more serious problem. August 4, 1999, the State Economic and Trade Commission and other departments formally introduced bank corporate debt-to-equity program, conditions, and scope. China's financial industry is facing a new topic: the debt-equity swap. Some people think: the debt-equity swap can in one fell swoop to solve the state-owned enterprises with high debt to the dual difficulties of high non-performing assets of state-owned commercial banks, and that the reduction of the interest burden will help the state-owned enterprises turnaround, lower proportion of banks' bad assets help guard against financial risks . Therefore, the debt-equity swap policy is to kill two birds with one stone, a good move. However, in the actual operation of the banks' bad assets into corporate equity related to the main lot (such as: national, state-owned commercial banks, financial asset management companies, state-owned enterprises, local governments at all levels, including individuals and institutions, including investors). Interests of all parties to the conflict, there are also many risks. The debt-equity swap process is not a simple instruction by the State under the relevant units to do so will be able to do a good job. It is the mutual interests of the parties in the market economy under the conditions of economic behavior. Since 1999, the research on the debt-equity swap is a lot, and there is the following characteristics: 1) mainly introductory, promotional, and most of them only stay in the qualitative research; 2) due to reasons such as national policy guidance, such studies for businesses to consider much less for the banks to consider; 3) more macroeconomic impact of the debt-equity swap, while ignoring its microscopic, in particular, on the banks of individual influence its decision-making. View of the debt-equity swap involves the interests of many parties, full of contradictions and conflicts, compromise and cooperation, I believe that the use of game theory (game theory) method is applied to the rational economic behavior of the parties in the description and analysis of its process. In fact, the study of the domestic and foreign scholars Game Theory and many economic behavior linked to research this new issue of the debt-equity swap, but using game theory methods, domestic or blank. This paper examines the domestic and foreign banks' bad loans on the basis of analysis of commercial banks (financial asset management companies) with the game between the enterprise from a micro and macro perspective, the game between many of the same enterprise creditor banks Relations and the National Commercial Bank (financial asset management companies), corporate (local government), the game between the multi-party debt-equity swap participants. Analysis of the feasibility of proposals, and has a certain reference value to promote the reform of China's banking debt-equity swap guard against and defuse financial risks.

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CLC: > Economic > Fiscal, monetary > Finance, banking > China's financial,banking > Banking system and business
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