关键词: 金融学, 银行网点规模, 竞争模型, 理财产品

Abstract: Branches are banks’ main channel to sell their wealth management products. Branch scale not only directly affects banks’ market share and income, but also influences banks’ strategies and competitive structure of market through banks’ risk-taking behaviors. This paper considers the wealth management products of equities and establishes a competition model among banks’ branches. Through comparative static analysis of the equilibrium, this paper finds that banks’ branch scale affects its expected yield of wealth management product and that the bank with small branch scale is inclined to adopt more radical competitive strategy (higher expected yield) to expand its living space, i.e. there exists a phenomenon of yield premium. However, the risk-taking behavior of the bank with small branch scale has a limited influence on competition, while the behavior of the bank with large branch scale has a notable influence, that is. banks’ branch scales affect the degree of competition influenced by the risk of underlying asset in wealth management products. The analysis and conclusions of this paper can bring some theoretical explanations to the current development and characteristics in Chinese wealth management market.

Key words: finance, bank’s branch scale, competition model, wealth management product.