关键词: 准入放松, 市场化进入决策机制, 均衡结构模型, 多重Nash均衡, 竞争壁垒效应

Abstract: In order to study the impact of the access regulation reform on the decision-making mechanism of banking market entry and to test the effectiveness of the inter-bank differentiated competition strategy, based on the branch data of small and medium-sized commercial bank, this paper builds the balanced structural model of the static discrete gaming to restore the strategic interaction in the process of entering the banking market and focuses on the effects of the asymmetric competition barriers among the different monopoly banks. In order to solve the issues of estimation inconsistency caused by multiple Nash equilibrium, the conditional moment inequality and sub-sample simulation technique are applied to identify and estimate the confidence interval of the parameters, and furthermore the counterfactual analysis and the comparative analysis of classification are designed and used. It finds that easing the banking access regulations has significantly upgraded the decision-making mechanism on market-oriented access, which not only depends on the bank's internal advantages and market locations, but also is affected by the asymmetric competition barriers, such as the decisions by their competitors and the brands, as well as scale of economy built. The banking marginal profits are transferred from the secondary to the tertiary industry and the "niche market" strategy is better than "following" strategy in the current banking industry.

Key words: Easing the Access Regulation, Decision-making Mechanism on Market-oriented Entry, Balanced Structural Model, Multiple Nash Equilibrium, Effects of Competition Barriers