| As distinguished economist, Jinlian Wu, has asserted that the emphasis on China Finance Industry Reform should be attached to the Stated-owned Bank's innovations, herewith, I further hold that great stress should be laid on the NPL in the course of State-owned Bank's reformation. Presently, voluminous accumulated NPL has become the severest risks and uppermost obstacles during China State-owned Bank's innovative revolutions. With China's entry into the WTO, it is unavoidable trend for domestic Finance Industry to be open to the outside; As a result, the significance of evasion and protection from relative financial risks is more and more conspicuous. Generally judging from the momentous position of the State-owned Banks, this article is practically aimed at the disposal of NPL and addresses the creative disposal approach i.e. Combinatorial Auctions (CA), integrating with one principal of Game Theory --CAP1 Model's application in the NPL issue.Auctions, as an efficient and effective way to allocate goods, resources and services, are enjoying more and more popularity among agents. From perspective of optimizing natural sources and screening the right prices, this mechanism of auction are relatively sound not just in pricing processes but in eventual outcome. Furthermore, concerning the distinct assets auctions, because of complementarities or substitution effects between different assets, bidders have preferences not only for particular items but also for sets of items, sometimes called bundles. That is, a bidder's valuation for a bundle of items need not equal the sum of his valuations of the individual items in the bundle. This is often the case, for example, in electricity markets, equities trading, bandwidth, and stated-owned land property right auctions.The first chapter introduces the context and motivation of this article,from the perspective of State-owned Banks NPL's precaution and avoidance, the author points out this article's practical and theoretical significance. Then, through summarizing the research framework and methods in this article, the author concludes the main achievement of this article i.e. put forward a new trace of disposing our State-owned Bank's NPL.The following chapter describes the study history concerned with NPL, Auctions and CA domestically and internationally, of which the authoritative data entail the seriousness of State-owned Banks convinced. Then, on the ground of generalizing relative works on Auctions, CA and disposal approach to NPL, the author emphasizes the wide coverage of Auctions and CA's application, and lays solid foundation to introducing those efficient methods into the disposal of NPL.The third chapter sums up the domestic and international classification methods in NPL, and estimates over the NPL ratio based on distinct resources, which has severely influenced on the stability and security of our national Banks Industry. Therefore, it isundoubtedly necessary to find out a new NPL disposal approach. Furthermore, by comparing different mechanism of NPL disposal in symbolic countries and districts such as United State, Japan, Korea and Taiwan, the author follows that the obvious crux is the problem of pricing the NPL. Fundamentally speaking, it is a systematical matter. Therefore, combing with the functions of the Auctions and CA, it is naturally possible to put this idea into application, maximizing the value of NPL.Next chapter generalizes the corresponding relationship between different auction categories and products characteristics. From the scratch of Auction functions, the author proves that auctions should and have the capability of acting as the first approach selected in the disposal of NPL. Following, the author comparatively draws lessons from the successful experiences in different countries and districts, and provides powerful bases for the Auction application in the disposal of domestic NPL. Finally, the author reviews the Auctions application status in both AMC and auctions companies, and points out the achieved... |
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