從融資公司之優勢看提供貸款合約的競爭

隨著我國參與國際經貿社會的腳步大幅加快，融資公司的開放設立應為一不可避免的新興金融趨勢，而此一趨勢對我金融市場的競爭模式與各型企業融實行為的影響頗值得深入探討。本研究於我國融資公司尚未正式開放設立之前，就國外融資公司興起的原因與利基，以財務仲介理論模型闡釋：融資公司如何將其不同於一般銀行的融資管道、低度金融監理、利潤交叉補貼、低抵押品處理成本與深度財務仲介等優勢，轉化為具競爭力的貸款條件，如較高的貸款成數或多元化的抵押品要求，藉以吸引利基市場借款人，進而減低了高風險借款者或中小企業主的融資困難。是以，融資公司的出現除多元融資管道，更提升了弱勢借款人的融資額度，緩和其融資不足的壓力，彌補其無法提供優質抵押品的劣勢，進而稍補融資市場的缺口，並健全金融市場發展。

關鍵字

融資公司；租賃公司；金融週周邊事業；金融仲介

並列摘要

As our involvement to the international economic society speeds up recently, the emergence of ”Finance Company” will become a new trend of financial development in Taiwan, which not only affects the competition of financial markets, but also alters the financing patterns of various enterprises. Therefore, the theoretical framework employed in this study demonstrates that finance companies could use their competitive terms of loan contracts, originated from certain advantages, including the unique funding sources, the cross-subsidization effect, lower collateralization costs and government regulation, as well as the extensive financial intermediation, to attract the targeted high-risk borrowers in the niche market. These competitive contract terms, such as a higher loan-granting ratio and diversified collateral requirement, not only expand borrowers' financing sources, lessen their financing difficulties, increase the funding level, but also lower the quality requirement of pledged collateral, especially for the risky borrowers or the entrepreneurs of small and medium-size enterprises (SME).

並列關鍵字

Finance Company ； Leasing Company ； Financial Services Industry ； Financial Intermediation

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