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欧盟国际外面银行载利才干影响要斋剖析外面文

作者:locoy

  欧盟国际外面银行载利才干影响要斋剖析外面文文件翻译(却编纂)欧盟国际外面银行载利才干影响要斋剖析外面文文件翻译外面文材料翻译译文欧盟国际外面银行载利才干影响要斋剖析摘要:本文运用银行级数据,经度过年时间国际和本国银行在个欧盟国度的商运营情景到来了松银行的详细特点和所拥有银行业环境对影响载利才干。结实标注皓,国际和本国新2官网才干不单受银行详细特点的影响,也受金融市场构造和微不清雅经济环境的影响。摒除了在集儿子合情景下国际银行盈利,所拥局部变量邑是拥有严重意思的,固然它们的影响和相干对国际和海外面银行并不尽是相反。伸见在度过去的几年好多的要斋形成了欧盟银行业竞赛日更加凶烈。最要紧的要斋之壹是针对效力动、确立、运转和监督信贷机构的第二个欧洲指令出产台,在银行和金融范畴抓紧把持。此雕刻个指令为所拥有欧洲银行机构在单壹欧洲金融市场和供了对等的竞赛环境,故此银行正先无法意想的国际外面竞赛之中。佩的,近日到壹些的技术提高对规模经济和范畴供了更多的时间,而采取欧元也快度减缓了了行业的变募化。余外面,微不清雅经济政策后父亲微少半国度畅通货收收缩比值和利比值逐步投降低。最末,在越到来越多的欧洲国度匪金融公司被容许供传统的银行效力动,同时在竞赛中进壹步提高,银行己愿产生新的产品和寻摸新客户。好多银行为了参加以欧洲市场和银行业扩展己愿添加以规模,经度过侵犯和收买进的方法终止了史无前例的整顿合。在环境快快变募化的情景下,此雕刻些变募化给在欧盟的银行带到来很父亲的应敌,故此影响了他们的效力。格林指出产,充分的进款是必要的环境让银行僵持偿付才干,在壹个适宜的环境生活、展开和兴盛。考虑到银行业的强大健展开和经济知增长,影响新2官网才干的潜在要斋不单和办者拥关于,同时和群多利更加相干者如中银行,银行家协会、内阁以及其他金融内阁拥关于。文件综述参考文件与本文却分为叁父亲类。第壹派断是切磋集儿子合于新2官网才干的决议要斋。第二片断带拥有切磋欧洲银行的盈利和本钱效力。第叁由切磋比较国际外面银行。不才面几个片断中,我们讨论此雕刻些类佩中的每壹个。决议要斋和变量选择因变量本切磋运用平分资产报还比值ROAA到来评价银行的干用。ROAA是把净盈利体即兴为壹个佰分比的平分尽资产。它露示了每欧元资产得到的盈利并指皓何以拥有效的银行的资产去想法发皓进款。平分资产是用到来在会计师年度中发皓发皓资产上的任何差异。Golin指出产,平分资产报还比值是权衡载利才干的关键。决议要斋和孤立变量四个银行特点用干外面部决议要斋。此雕刻些邑是银行的尽资产、本钱顶出产比、权利与资产比比值和银行的存贷款的比比值摒除以客户和短期融资。余外面,六个外面部要斋是用到来反节环境的影响对银行的体即兴。数据和方法我们的示例是壹个顶消面板数据集儿子,由在个欧盟国度的家商银行从年时间的组数据构成而成。表和表区别展即兴了当前银行的数所属的国度和所拥有权和范本特点。实证结实表报告对银行的平分本钱报还比值(ROAA)的实证估计。第壹列体即兴了把所拥局部银行同时考虑的结实。第二、叁列体即兴了我们经度过银行经纪此雕刻所属的国度把银行佩退出产到来的结实。我们定义壹个银行是海外面还是国际是依托本国人的股份资天分否超越,此雕刻个儿子范本带拥有家国际银行和家外面资银行。在此雕刻个阶段,条约个银行被扫摒除在剖析,鉴于我们没拥有拥有趾够的信息到来区别其是国际还是海外面。摒除了在集儿子合情景下国际银行平分本钱报还比值,所拥局部变量邑是清楚的,固然它们对国际外面银行的平分本钱报还比值的影响和相干并不尽是相反的。此雕刻个模具的说皓力对国际银行是更高的调理R国际银行等于,而外面资银行等于,而f统计所拥有模具的要紧性在的程度。此雕刻意味着额外面的要斋能会影响本国新2官网才干。像威廉姆斯正确地指出产,外面资银行运转在壹个受两个要斋影响的主机市场,区别是他们是属于本国跨国银行和他们的参加以银行体系的主机。由比较高的露着系数的股权资产(EQAS)和本钱顶出产比(COST)露示,在普畅通情景下,平分资产报还比值的首要决议要斋是本钱主力及费办效力。股权资产与平分本钱本钱是正相干相干,无论我们考查国际银行还是海外面的银行,同时它是国际银行载利才干是最要紧的决议要斋。此雕刻壹考查结实与以往的考查切磋是不符的,本钱充分的银行在破开产和规模收减缩方面面对着较低的本钱,故此,它们的融本钱钱比较低或具拥有较低的外面部资产的需寻求,推向了较高的载利才干。本钱顶出产比(COST)被预期是外面资银行载利才干的最要紧的决议要斋,是正如预期的这么的,出产即兴出产负相干相干,此雕刻些费的添加以会在很父亲程度上增添以在欧盟银行的经纪盈利。很多学者也发皓了费办不善是载利才干差的首要要斋。故此,在欧盟的商银行应采取必要的举触动,以完成更拥有效的本钱把持,以进壹步添加以他们的盈利。本国()和国际银行()之间的系数的差异能是鉴于不妥的办操干以及与监测机构存放在的距退。关于活触动性,结实是喜忧参半。客户的净存贷款及短期资产比比值(LOFUND)在统计上露着,并与国际新2官网才干呈正相干,标注皓银行活触动性资产持拥有量水装置然装置祥载利才干程度呈负相干相干,与意想的壹样。关于外面资银行到来说,变量也很露着,但拥有壹个负号,说皓活触动性和银行盈利的正相干相干,出产乎我们的意想,固然与伯克()和Kosmidou()的切磋不符。无论是国际或海外面银行,规模(SIZE)之间的相干和银行的业绩是负的。负系数标注皓,在此雕刻两种银行中,父亲银行的顶出产程度就会低于的盈利,切磋也发皓要么经济规模和范畴为较小的银行或金融机构的规模不够父亲。范道德Vennet()发皓的证据标注皓,在欧盟规模经济效更加条要在根据资产小于亿欧元的最小银行才拥有效,以后报还不变和规模不经济的最父亲银行超越欧亿。结语在近日到几年中,好多要斋加以剧了欧盟银行业的竞赛,更是银行的操干环境的急性变募化给银行带到来了庞父亲的应敌。此雕刻是靠边的假定去认为所拥有此雕刻些变募化邑必定会对银行的体即兴拥有壹定的影响。格林在年指出产,银行需寻求趾够的资产以护持偿债才干并在适宜的环境中生活。银行的效力和经济增长之间的相干是拥有据却查的。与此同时,银行的破开产会对经济产生不顺溜的结实。故此,观点影响新2官网才干的潜在要斋是必不成微少的,不单是为了银行经纪,亦为了在个欧盟国度群多的利更加相干者,如的中银行,银行协会,内阁和其他金融机构。从此雕刻项切磋中得出产的定论关于那些经济和银行体系正直历基天性变募化的新欧盟国度邑是很拥有意思的。外面文原文FactorsinfluencingtheprofitabilityofdomesticandforeigncommercialbanksintheEuropeanUnionAbstractUsingbankleveldatathispaperexamineshowbank'sspecificcharacteristicsandtheoverallbankingenvironmentaffecttheprofitabilityofcommercialdomesticandforeignbanksoperatingintheEUcountriesovertheperiodTheresultsindicatethatprofitabilityofbothdomesticandforeignbanksisaffectednotonlybybank'sspecificcharacteristicsbutalsobyfinancialmarketstructureandmacroeconomicconditionsAllthevariables,withtheexceptionofconcentrationinthecaseofdomesticbanksprofits,aresignificantalthoughtheirimpactandrelationwithprofitsisnotalwaysthesamefordomesticandforeignbanksKeywordsBanksEuropeanUnionProfitabilityIntroductionOverthelastyearsanumberoffactorshavecontributedtothegrowingcompetitionintheEuropeanUnionEUbankingsectorOneofthemostimportantfactorsisderegulation,promotedbytheSecondEuropeanDirectiveonBankingandFinancialservices,concerningestablishment,operationandsupervisionofcreditinstitutionsThisDirectivesetsouttheprinciplesofbankingintheSingleEuropeanfinancialmarketandprovidesequalcompetitiveconditionsforallEuropeanbankinginstitutionsAsaresultbanksnowcompeteinpreviouslyinaccessibledomesticandforeignmarketsFurthermore,anumberofrecenttechnologicaladvancesofferedmoreopportunitiesforeconomiesofscaleandscopewhiletheadoptionofeuroacceleratedthechangesintheindustryForinstance,incomegenerationfromforeignexchangetransactionshasbeenlostwhilethepricingofbankingproductsandserviceshasbecomemoretransparent,enhancingcompetitionFurthermore,themacroeconomicpoliciesthatwerefollowedinmostcountriesgraduallyreducedinflationandinterestratesFinally,inmoreandmoreEuropeancountriesnonfinancialfirmswereallowedtooffertraditionalbankingservices,leadingtofurtherincreaseincompetitionTherefore,bankswereforcedtogeneratenewproductsandseeknewcustomersThisisreflectedinthecontinueddiversificationacrossgeographicalareasandbusinesslinesManybankshavebeenforcedtoincreaseinsizeinordertocompeteintheenlargedEuropeanmarketandthebankingindustryexperiencedanunprecedentedlevelofconsolidationthroughmergersandacquisitionsItisreasonabletoassumethatallthesechangesposedgreatchallengestobanksintheEUastheenvironmentinwhichtheyoperatedchangedrapidly,afactthatconsequentlyhadanimpactontheirperformanceAsGolinpointsoutadequateearningsarerequiredinorderforbankstomaintainsolvency,tosurvive,growandprosperinasuitableenvironmentGiventherelationbetweenthewellbeingofthebankingsectorandthegrowthoftheeconomyRajanandZingales,,Levine,andLevine,,knowledgeoftheunderlyingfactorsthatinfluencebanks’profitabilityisessentialnotonlyforthemanagersofthebanksbutfornumerousstakeholderssuchastheCentralBanks,BankersAssociations,Governments,andotherFinancialAuthoritiesKnowledgeofthesefactorswouldalsobeofparticularinteresttothenewEUcountrieswhoseeconomiesandbankingsystemsareexperiencingfundamentalchangesduringthisperiodTheaimofthispaperistoextentearlierworkonthedeterminantsofprofitabilityofbanksintheEUandexaminetowhatextenttheperformanceofcommercialbanksoperatinginEUmarketsisinfluencedbyinternalfactorsiebanks’specificcharacteristicsandtowhatextentbyexternalfactorsiemacroeconomicandfinancialmarketstructureinviewoftheongoingprocessofintegrationandconcentrationAlthoughagrowingliteratureusesefficientfrontierapproachestoexaminetheprofitandcostefficiencyofEUbankseg,Altunbasetal,andSchureetal,,toourbestknowledge,thereareonlyfewstudiesthatfocusonthedeterminantsofprofitabilitywhilefocusingontheEUasatotaleg,MolyneuxandThorton,andStaikourasandWood,MolyneuxandThortonwerethefirstthatexaminedthedeterminantsofbanksprofitabilityoperatinginEuropeancountriesovertheperiodMostrecentlytheEuropeanbankingsectorwasexaminedbyStaikourasandWoodthatconsideredbanksfromEUcountriesovertheperiodThepresentstudyattemptstoprovideadditionalandmorerecentevidenceonthedeterminantsofbanksprofitabilityintheEUInordertoaccomplishthistask,ourpaperdiffersfromtheearliermentionedstudiesinseveralaspectsFirstofall,weincludemorerecentyearsintheanalysisbyexaminingtheperiodFurthermore,weexaminemorefactorsbyintroducingtheinfluenceofadditionalfinancialmarketstructurevariablessuchasstockmarketcapitalizationtoGDP,stockmarketcapitalizationtoassetsofdepositsmoneybanksandassetsofdepositsmoneybankstoGDP,notconsideredintheabovestudiesFinally,wearethefirstthatdistinguishbetweenforeignanddomesticbanksDuringthelastyearsbothdevelopedanddevelopingcountriesaroundtheworldhaverelaxedrestrictionsonforeignbankingandmostofthemnowallowmoreforeignbankstoundertakemorebankingrelatedactivitiesintheirdomesticbankingmarkets,mainlybecauseoftheincreasinglyimportanceofinternationaltradeingoodsandfinancialservicesAsGoddardetalpointoutsincethenumberofforeignbankshasincreasedineverybankingmarketinEurope,whichnowholdalargeproportionofbankingassetsintheUKofbankingsectorassetsin,Belgiumofassetsin,PortugalofassetsinandFranceinPreviousstudiesthatdistinguishbetweendomesticandforeignbanksfocusmostlyondifferencesonprofitandcostefficienciesusingfrontierapproacheseg,Bergeretal,andSathye,orfinancialcharacteristicsthatdifferentiatethesetwogroupsofbankseg,Kosmidouetal,aandnotonwhethertheinternalandexternaldeterminantsofprofitabilityamongdomesticandforeignbanksaredifferentTherestofthepaperisstructuredasfollows:SectionprovidesaliteraturereviewofrelatedstudiesSectiondescribesthedependentandindependentvariableswhileSectionpresentsthedataandmethodologyusedinthestudyTheempiricalresultsarepresentedinSectionFinally,inSection,theconcludingremarksarediscussedLiteraturereviewPriorliteraturerelatedtothepresentpapercanbeclassifiedinthreebroadcategoriesThefirstconsistsofstudiesthatfocusonthedeterminantsofbanks’profitabilityThesecondconsistsofstudiesthatexaminetheprofitandcostefficiencyofEuropeanbanksThethirdconsistsofstudiesthatcomparedomesticandforeignbanksInthefollowingsectionswediscusseachoneofthesecategoriesStudiesonthedeterminantsofprofitabilityFollowingtheearlystudiesofShortandBourkeanumberofmorerecentstudieshaveattemptedtoidentifysomeofthemajordeterminantsofbanks’profitabilityTheyconsiderinternalandexternalfactorsandexamineasinglecountryeg,Berger,,Angbazo,,Guruetal,,BenNaceur,,MamatzakisandRemoundos,,Kosmidouetal,andKosmidou,orapanelofcountriesMolyneuxandThorton,,DemirgucKuntandHuizinga,,AbreuandMendes,,StaikourasandWood,,HassanandBashir,andGoddardetal,InthediscussionthatfollowswefocusonthestudiesthatexaminetheEUbankingmarketThestudyofMolyneuxandThortonisoneofthefirstthatexaminesthedeterminantsofbanksprofitabilityinseveralcountriesTheresultsindicateapositiveassociationbetweenthereturnonequityandthelevelofinterestrates,bankconcentrationandthegovernmentownershipInamorerecentstudy,AbreuandMendesexaminePortugal,Spain,FranceandGermanyandfindthatloantoassetsandequitytoassetsratioshaveapositiveimpactoninterestmarginsandprofitabilityTheyalsofindthatoperatingcostshaveapositiveimpactonnetinterestmarginsmeasuresbutnotonprofitsmeasures,whiletheoppositeholdsforbank'smarketshareFromthemacroeconomicvariables,inflationisrelevantinallcases,whilethenominaleffectiveexchangeratedoesnothaveanimpactonperformanceTheunemploymentratehasanegativesigninallregressionsandissignificantinthecaseofprofitsalthoughnotonnetinterestmarginsmeasuresStaikourasandWoodexaminetheperformanceofasampleofbanksoperatinginthirteenEUbankingmarketsTheresultsindicatethatloanstoassetsratioandtheproportionofloanlossprovisionsareinverselyrelatedtobanks’returnonassets,aswellasthatbankswithgreaterlevelsofequityarerelativelymoreprofitableThefundsgapratioisalsosignificantandpositivelyrelatedtoperformanceFurthermore,theauthorsfoundnoevidencetosupporteitherthestructureconductperformanceortheefficienthypothesisTwoofthethreemacroeconomicindicators,thevariabilityofinterestratesandthegrowthofGDPhadanegativeimpact,whilethelevelofinterestrateshadapositiveeffectGoddardetalinvestigatethedeterminantsofprofitabilityinDenmark,France,Germany,Italy,SpainandtheUK,fortheperiodTheyfindonlyweakevidenceforanyconsistentorsystematicsizeprofitabilityrelationshipandapositiverelationshipbetweencapitalassetsratioandprofitabilityTherelationshipbetweentheimportanceofoffbalancesheetbusinessinabank'sportfolioandprofitabilityispositivefortheUK,buteitherneutralornegativeelsewhereStudiesontheprofitandcostefficiencyofEUbanksInrecentyears,therehasalsobeenanincreaseofacademicstudiesthatfocusontheefficiencyoffinancialinstitutionsusingfrontieranalysisBergerandHumphreyoutlinestudies,coveringcountries,multipletimeperiodsandvarioustypesofinstitutionsthatappliedthreeparametriciestochasticfrontierapproachSFA,distributionfreeapproachDFA,thickfrontierapproachTFAandtwononparametriciedataenvelopmentanalysisDEA,freedisposalhullFDHfrontierapproachesfordeterminingthebestpracticefrontieragainstwhichrelativeefficienciesaremeasuredTheefficiencyofabankismeasuredrelativelytothatofthebestpracticebanksofsimilarsize,withmoststudiesfocusingoncostefficiencyratherthanprofitefficiencySomerecentstudiesalsoconsiderbothcostandprofitefficiencyeg,BergerandHumphrey,andBergerandMester,,aswellasriskvariableseg,BergerandDeYoung,,Bergetal,,McAllisterandMcManus,,Mester,andRao,AlthoughtheEUisconsideredrelativelyunderresearchedgivenitssizeandimportancethereisnowagrowingstrandofliteraturethatexaminestheefficiencyofEUbankinginstitutionsExamplesofsuchstudiesareAltunbasetal,Bikker,Maudosetal,SchureetalandStaikourasetalThestudiesofDietschandWeil,CavalloandRossi,CasuandMolyneux,arealsointerestingastheyfocusonmostofthemainEUbankingsectorsEarlierstudies,astheonesofBergetal,Pastoretal,LangandWelzel,LozanoVivas,DietschandLozanoVivas,focusmostlyonsubsetsofselectedmarketsorindividualcountriessuchasthenordiccountries,France,GermanyandSpainamongothersStudiesonforeignversusdomesticbanksOtherstudieshaveemployedsimilartechniquestocomparetheefficiencyofforeignanddomesticbanksHasanandHunter,Mahajanetal,andChangetalconcludethatforeignbanksintheUSarelesscostefficientthandomesticbanks,whileSethandNolle,findthatforeignownedbanksarenotasprofitableasdomesticallyownedbanksSimilarresultswereobtainedinstudieswhichexaminedtheAustralianmarketUsingDEASathyefoundforeignbankstobelessefficientthandomestic,whilecomparableresultswereobtainedbyAvkiranFewerstudieshaveexaminedEuropeanmarketsAfterestimatingseparatefrontiersforforeignanddomesticbanksinSpain,HasanandLozanoVivasfindthatforeignbanksareaboutequalasprofitefficiencyasdomesticbanksBergeretalestimatecostandprofitfrontierstocomparetheefficiencyofbanksinFrance,Germany,Spain,UKandUSFortheUScase,theresultsshowedthatdomesticbanksareonaveragelesscostefficientthanforeignbanksFortheEUcountries,costefficiencyandprofitefficiencywerefoundhigherfordomesticbanksthanforeignbanksinthreecasesieFrance,Germany,UK,butthedifferencewasnotfoundtobestatisticallysignificantUsingamulticriteriadecisionaidmethodology,KosmidouetalfindthatdomesticbanksexhibithigheroverallperformancecomparedtoforeignbanksoperatingintheUKKosmidouetalaexaminehowforeignbanksdifferfromdomesticbanksintheUKandfindthatthelaterarecharacterizedbyhigherreturnonequity,netinterestrevenuetototalearningassets,andloanstocustomerandshorttermfundingStudiesthatcomparetheperformanceofforeignanddomesticbanksindevelopingcountriesyieldingeneraldifferentresultsDemirgucKuntandHuizingaaswellasClaessensetalfindforeignbankstobedisadvantagedcomparedtodomesticbanksindevelopedcountriesalthoughnotinlessdevelopedcountriesFinally,inamorerecentstudy,FriesandTaciexaminethecostefficiencyinpostcommunistcountriesTheresultsindicatethatprivatizedbankswithmajorityforeignownershiparethemostcostefficientonesandthosewithdomesticownershiparetheleast,thoughbothbeingmoreefficientthanstateownedbanksDeterminantsandvariableselectionDependentvariableThisstudyusesreturnonaverageassetsROAAtoevaluatebank'sperformanceROAAisthenetprofitsexpressedasapercentageofaveragetotalassetsItshowstheprofitsearnedpereuroofassetsandindicateshoweffectivelythebank'sassetsarebeingmanagedtogeneraterevenuesAverageassetsarebeingusedinordertocaptureanydifferencesthatoccurredinassetsduringthefiscalyearAsGolinpointsout,returnonaverageassetsisthekeymeasureofprofitabilityDeterminantsandindependentvariablesFourbankcharacteristicsareusedasinternaldeterminantsofperformanceThesearethebank'stotalassets,thecosttoincomeratio,theratioofequitytoassetsandtheratioofbank'sloansdividedbycustomersandshorttermfundingInaddition,sixexternaldeterminantsareusedtoexaminetheimpactofenvironmentonbank'sperformanceTableTableVariablesdescriptionVariablesDescriptionDependentROAAThereturnonaveragetotalassetsofthebankIndependentBankscharacteristic

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