Professional Documents
Culture Documents
GVHD:Trn Thu Vn
A. C S L THUYT
1.Khi nim: - Thng tin bt cn xng l trng thi khng c s cn bng trong vic nm gi thng tin gia cc bn tham gia giao dch. Khi gi c khng phi l gi cn bng ca th trng m n c th thp hn hoc cao hn dn ti th trng khng t hiu qu. - Tnh trng thng tin bt cn xng xut hin nhiu lnh vc khc nhau ca nn kinh t nh ngn hng, trong th trng nh t,th trng lao ng , th trng hng ha,th trng chng khon, th trng c 2.Nguyn nhn: Theo Joseph Stiglitz( nh kinh t hc ngi M, t gii nobel nm 2001), c hai nguyn nhn gy ra thng tin bt cn xng: Th nht l do nhng ch th kinh t khc nhau quan tm ti nhng i tng khc nhau v lng thng tin ca h v cng mt i tng s khc nhau. Thng th cc ch th kinh t hiu mnh r hn l hiu ngi khc. Mc chnh lch v thng tin ty thuc vo c cu, c trng ca th trng. Th hai l do ch th kinh t tham gia giao dch c th c tnh che giu thng tin t c li th trong m phn giao dch. 3.Hu qu ca thng tin bt cn xng: - Thng tin bt cn xng gy ra ba hu qu l la chn bt li v ri ro o c, vn ngi y quyn ngi tha hnh.
GVHD:Trn Thu Vn
a.La chn bt li ( la chn ngc): - Nu vn thng tin bt cn xng xy ra t trc khi giao dch c bt u, c ngha l thng tin b che giu th s dn ti la chn bt li ca bn giao dch c t thng tin hn. b. Ri ro o c ( tm ly li): - Nu khi giao dch bt u din ra th mi xy ra thng tin bt cn xng, hnh ng ca mt pha giao dch trong qu trnh thc hin b che y dn ti ci gi l ri ro o c pha giao dch nhiu thng tin hn v che giu hnh vi ca mnh. Vd: ngi mua bo him thng c nhng hnh ng nhiu ri ro v h khng phi gnh chu chi ph thit hi do h gy ra. Nh l khng gi gn ti sn ca mnh mt cch cn thn c. Ngi y quyn ngi tha hnh: L trng hp mt bn ( ngi y nhim) thu mt bn khc ( ngi tha hnh) nhm thc hin nhng mc tiu nht nh. y c xem l mt trng hp c bit v n bao gm c la chn bt li v ri ro o c.
Khi ngi y nhim giao quyn cho ngi tha hnh, h s khng trc tip iu hnh cng vic do h s nm c t thng tin hn ngi tha hnh, bn cnh ngi tha hnh v y quyn c th theo ui nhng mc tiu khng ging nhau, dn ti ngi tha hnh c nhng hnh ng khng phc v li ch ca ngi y quyn. v c t thng tin hn ngi y quyn kh cng ch thi hnh, nh gi hay khuyn khch cng vic ca ngi tha hnh, la chn bt li ca ngi y quyn.
Lng ca ngi tha hnh thng thng t ph thuc vo nhng n lc ca h t c mc tiu ca ngi y quyn. Do ngi tha hnh t c ng c c gng t c mc ch ny, xut hin ri ro o c ca ngi tha hnh.
GVHD:Trn Thu Vn
Thng tin bt cn xng s lm cho vic cung cp hng ha ca th trng khng t hiu qu, dn ti tn tht x hi. tn tht ny c th l tn tht do cung cp hng ha di mc hiu qu hoc trn mc hiu qu x hi, VD: Thng tin bt cn xng trn th trng rau sch gy ra tn tht x hi do vic cung cp hng ha di mc hiu qu x hi. Nu ngi tiu dng c y thng tin bit chc rng rau c bn trn th trng l rau sch, cu ca h s l D0, th trng t cn bng hiu qu ti E vi lng rau ti u l QE , gi cn bng l PE. Tuy nhin, do ngi tiu dng khng c thng tin bit rau c bn l rau sach hay khng, h ch sn lng mua mt lng rau th hin trn ng cu D1. Cn bng th trng lc t ti im E, lng rau cung cp l QE, gi PE.
P
PB
B E
S Tn tht x hi
PE P E E
D0
D1
QE
QE
Phn din tch EBE l tn tht do vic tiu dng di mc hiu qu gy ra.
GVHD:Trn Thu Vn
GVHD:Trn Thu Vn
Q.8.Mc d l cn b tn dng lu nm ca Chi nhnh Ngn hng NN-PTNT Q.8 nhng cc cn b ny mc ni hnh thnh ng dy "tn dng chui" v c bit n nh mt "trm" cho vay. Trong bi cnh , nm 1999, Gim c chi nhnh ngn hng ny k hp ng lin kt vi Ban qun l ch Bnh Ty (Q.6) trin khai chnh sch cho vay u i i vi tiu thng th b cn b tn dng ca thao tng. Cc cn b ny ch o cho cc thuc cp lp gi ch k, lp h s khng "vay k" ca tiu thng, sau chim ot tin. Cha dng li , cc cn b ny cn lp khng hng lot h s xin vay tin bng cch s dng cc t ch quyn sp m khch hng tr ht tin vay nhng cha ly v, ly mu h s xin vay ri "" ch k t h s c gi ch k vay tin... Thm ch t nm 2002, sau mt s s c khng thu hi c n, chi nhnh ngng chng trnh cho vay u i i vi tiu thng khu vc ch Bnh Ty nhng do Gim c "qun" thng bo cho Ban qun l ch bit nn cc cn b ny vn tip tc gian di, li dng danh ngha tiu thng rt tin a ra ngoi nm vo th trng tn dng chui. Tng s tin cc cn b ny chim ot l hn 20 t ng, trong chim ot trong vic cho tiu thng vay ch Bnh Ty l hn 18,6 t ng (thng qua 44 h s khng, 47 h s "vay k") v chim ot thng qua cc h s cho vay bn ngoi hn 2,62 t ng. - Nghim trng hn l cc cn b ny gii quyt cho vay 44 h s sai quy nh, d n hn 82,7 t ng, nng khng h s vay tin chim ot hn 7 t ng.
GVHD:Trn Thu Vn
i0
D K0 K1 lng vn
- Ta c ng cu v vn l D, cung vn nu ngn hng bit thng tin y l S0 , v cung vn nu ngn hng thiu thng tin l S1 - Nu th trng i xng thng tin th cung cu v vn cn bng ti im E0(i0;K0) - Nu th trngbt cn xng thng tin, khi khch hng che du thng tin xu c vay n nhiu vi li sut thp, v khng bit nn ngn hng s c ng cung vn l S1 v im cn bng l E1(i1;K1) - Thc t ngn hng khng bit y thng tin v khch hng, v vy cc ngn hng thng cho vay nhiu hn mc hiu qu v li sut cng thp hn mc hiu qu. - Tn tht x hi do cho vay qu mc l din tch hnh E0AE1
GVHD:Trn Thu Vn
A E0 i0 i1 E1 D1 K1 K0
Tn tht x hi
D0
lng vn
- Khi khng bit thng tin tt, ng cu vay vn l D1 v ngi i vay s vay mc li sut l i1 v s vn vay l K1. - Khi bit y thng tin, th ng cu v vn s l D0, v ngi i vay s vay mc li sut i0 v s vn vay l K0. - Thc t ngi i vay khng bit y thng tin , v vy h vay di mc hiu qu ca th trng v tn tht x hi do thiu thng tin l E1AE0
GVHD:Trn Thu Vn
- Vit Nam, h thng tiu chun k ton Vit Nam (VAS) vn cn nhng khc bit so vi vi h thng tiu chun k ton quc t (IAS). Theo Ngh nh v kim ton c lp, tr mt s loi hnh doanh nghip phi thc hin kim ton nh bo him, ngn hng, cc doanh nghip c vn u t nc ngoi, doanh nghip nh nc, s cn li (ch yu l cc doanh nghip hot ng theo lut doanh nghip), nh nc ch khuyn khch cc doanh nghip thc hin kim ton cc bo bo ti chnh. Mt khc, ti hu ht cc t chc tn dng cha yu cu khch hng n xin cp tn dng phi c bo co ti chnh c kim ton. - Vic s dng cc bo co ti chnh lm cn c thm nh d n ca cc t chc tn dng cha c tin cy nh pht biu ca Ph tng gim c Ngn hng u t v Pht trin Vit Nam - ng L o Nguyn ''Cc DN va v nh thng xy dng bo co ti chnh mang tnh cht i ph vi c quan thu; bo co chnh thc (bo co c php lut cng nhn) thng thp hn tnh trng thc t, khng m bo iu kin vay vn ngn hng''. - Nhng vn nu trn to ra k h mt doanh nghip c nhiu h thng s sch bo co k ton (thng l 3). Mt dng bo co thu (kt qu kinh doanh thp hn thc t). Mt dng vay vn ngn hng (kt qu bo co thng hn thc t). Mt dng cho ni b (s liu thc). Vi tnh trng nh vy, khi doanh nghip gp kh khn th ngn hng rt kh nhn bit tnh trng thc ca doanh nghip l nh th no.
GVHD:Trn Thu Vn
c quan h tn dng vi tt c cc t chc tn dng. C ch thu thp thng tin ca CIC theo quy ch hot ng thng tin tn dng do Ngn hng Nh nc ban hnh. Trn thc t, cc thng tin hin c ca CIC c cp nht khng cao v cc ch tiu cn chung chung. Nhng thng tin cn thit xc nh lch s, tin cy ca ban iu hnh doanh nghip hu nh khng c. -Vn v h thng thng tin phc v cho cng tc thm nh d n ca cc t chc tn dng hin nay vn ang l vn rt ln. Nhng bin s quan trng nht quyt nh n hiu qu ca d n nh gi nguyn vt liu, gi bn, kh nng tiu th li thiu thng tin nht trong qu trnh thm nh.
GVHD:Trn Thu Vn
gp nhiu kh khn. Liu ngn hng c th tin c khch hng s m bo c ngun vn "t c" tham gia vo d n nh cam kt.
10
GVHD:Trn Thu Vn
mc rt cao. y chnh l kh khn rt ln trong vic gim st chi tiu ca ngi vay vn v c th kim tra gim st, m bo vic s dng vn vay ng mc ch i hi cc t chc tn dng phi bit c dng tin vo v dng tin ra trong qu trnh s dng vn vay ca bn vay.
11
GVHD:Trn Thu Vn
c lng tin vo v tin ra ca mt doanh nghip n gip cho cc ngn hng bit c cc doanh nghip c s dng vn vay c hp l.
12