Competition and Performance in the Credit Market

Author: Yan Jun
Publisher:
Publish Date: 2006-11-01
Features: The competitive activities and market performance of financial institutions in the credit market are not only concerns of the financial industry and public institutions but also a leading issue in contemporary financial theoretical research. Due to the characteristics of credit, such as uncertainty, incomplete information, and incomplete contracts, the credit market exhibits opacity and thinness, leading to various origins of credit market power and market structures. Based on the fundamental functions of the modern credit market, this book constructs a more objective standard for credit market performance and uses it to analyze credit market power and structure, the behavior of credit institutions, and government regulation policies, thereby providing a more comprehensive and logical overview of credit market competition and performance. This book integrates modern theoretical perspectives and models from industrial organization theory, corporate finance theory, information economics, contract theory, institutional economics, and other fields, achieving consistency between internal logic and conclusions. It is suitable for researchers and management personnel in financial institutions and financial regulatory authorities, as well as serving as a selective teaching material for postgraduate students in financial programs at universities.