An empirical study of depositor sensitivity to bank risk

Using a cross-sectional data set on U.S. commercial banks, the argument that during the mid 1980s to early 1990s depositors were insensitive to bank risk is empirically examined. Bank risk is measured by the predicted probability of bank failure as a function of contributing factors. The natural log of bank deposits is then regressed on bank risk and other control variables. The coefficient on bank risk in this equation measures the sensitivity of deposits to bank risk. A close examination of the estimated coefficient on bank risk offers little support for the argument that depositors were insensitive to bank risk.     

Political environment and bank performance: Does bank size matter?

In this study, we investigate the relationship between the political environment and bank performance and whether this relationship is contingent on bank size. We use a sample comprising more than 1600 banks in 58 countries and a set of multidimensional measures collected by the Economist Intelligence Unit to proxy for the political environment. Overall, our findings indicate that political uncertainty is associated with a significant decrease in bank performance. A deeper analysis shows that bank size matters when analyzing the relationship between political risk and bank performance. Precisely, large banks are less vulnerable and more resilient under political distress than other banks. Our findings shed light on the importance of bank size as a determinant of bank performance in countries with high political risk, particularly for investment decision makers. The results are robust to a variety of alternative measurements, and different estimation techniques to deal with endogeneity.     

Cultural distance and cross-border bank linkages

This study investigates the effect of cultural distance on global bank linkages using country-pair data for the period 1990–2013. We followed Schwartz (2006) to measure cultural distance, and employed the number of bank pairs involved in cross-border syndicated lending from the source to target countries as a measure of bank linkages. We found that cultural distance has a negative association with bank linkages. This effect is stronger in countries featuring higher informational asymmetries, as represented by weaker institutions, higher uncertainty, or revolution shocks. Our results hold even when employing alternative measures of bank linkages and cultural distance, and when considering the potential endogeneity of cultural distance.     

银行卡业务需求影响因素分析

银行卡是一种现代金融工具,是多种金融业务的载体。银行卡业务是银行业务的重要组成部分,分析影响银行卡业务需求的因素以及银行卡业务需求的变化规律,对银行卡业务的经营发展有着重要的现实意义。基于计量经济模型的相关知识,论文分析了银行卡业务需求的影响因素,找出影响银行卡业务需求的显著变量以及两者之间的相关性,从而提出一些促进银行卡业务发展的建议与对策。     

我国信贷资产证券化应注意的问题

信贷资产证券化使商业银行作为存贷中介的传统角色逐渐淡化后，拓展了商业银行的服务范围，通过出售银行贷款，从而增加银行贷款规模，本文论述了我国开展资产证券化业务需要关注的几个问题。     

Budgeting — an unnecessary evil

Almost 30 years ago — in 1970 — the largest commercial bank in Sweden, Handelsbanken, was in a major crisis. Profitability was low and the bank was in conflict with the authorities. As a result of the crisis the executive director left the bank, as did several of the top officials.At this point the board of the bank asked me to become executive director. At that time I was head of a provincial bank in the northern part of Sweden – Sundsvallsbanken. I had been at that bank for ten years. Before that I was a professional economist, head of a major research institute and an associate professor at the University of Stockholm. I did not have any practical business experience and knew nothing about banking, but after 10 years in Sundsvallsbanken, I had learned a lot and developed some firm ideas about how to run a bank with a large network of branch offices.     

An entropy approach to size and variance heterogeneity in U.S. commercial banks

In this paper, we investigate the effect of bank size differences on cost efficiency heterogeneity using a heteroskedastic stochastic frontier model. This model is implemented by using an information theoretic maximum entropy approach. We explicitly model both bank size and variance heterogeneity simultaneously. We find that non-performing loans, federal insurance premium, legal expenses and director fees drive bank inefficiency as the bank becomes larger. Moral hazard, bank management and a ??too big to fail?? doctrine are likely explanations for the results from this study.     

How can firms access bank finance for circular business model innovation?

Access to bank finance has emerged as a key challenge for firms engaged in circular business model innovation (circular BMI), both in practice and in the academic literature. Through interviews, focus groups and archival documents, we document the experience of firms accessing finance for circular BMI and assess bank willingness to lend to firms that engage in circular BMI. Our findings offer potential strategies for firms who look for external (bank) finance to realise circular BMI. Using a case study-based theory-refining approach, we identify three core strategies that firms can use to obtain bank finance for circular BMI. First, firms can signal future cash flow expectations by aiming to secure customer contracts and preorders. Second, relationship building with banks, suppliers and customers improves the banks' risk perception of firms. Third, firms can design standardised, long-lasting circular assets that can serve as bank collateral, especially once secondary markets develop, overcoming the difficulty of lending based on innovative, firm-specific assets.     

中资银行合规管理与银行再造

近年来,中资银行正在加快银行改革,积极推行经营理念、组织架构、业务流程等方面的银行再造运动,但合规管理却一直不是中资银行重点关注的领域,合规失效问题给银行再造带来了阻碍。培育良好合规文化、建立健全合规管理机制,有效发挥合规管理的作用,已然成为中资银行深入推进银行再造的不二选择。     

金融生态环境、债务治理效应与现金持有价值

文章将现金持有价值作为衡量企业资本配置效率的指标,系统考察了银行信用和商业信用两种债务融资的治理效应。实证检验发现,银行信用比例与现金持有价值呈负相关关系,在短期银行信用比例较高的企业中这一负相关关系尤为明显,特别对处于金融生态环境较差地区的企业,银行信用不仅不具有债务治理效应,反而会阻碍资本的有效配置。较之银行信用,商业信用并没有显示出显著更优的资金效率治理功能,并且其治理效应不受金融生态环境地区差异的影响。     

内部控制质量、资本结构与银行风险承担——货币政策与股权集中度的调节作用

本文选取2009—2018年中国24家上市银行年度数据,采用面板模型对内部控制质量对银行风险承担的影响及其作用机制进行实证分析。研究结果表明：（1）内控质量对银行风险承担具有抑制作用。内控质量提高有助于提升银行部门间贷款信息传递及风险协同控制效率,由此降低银行风险承担。相对于非国有、低联结度与高权力度银行,内控质量对国有、高联结度与低权力度银行风险承担的影响力度更大。（2）资本结构在内控质量与银行风险承担的关系中承担着中介作用,内控质量通过影响资本结构来影响银行风险承担,“内控质量—资本结构—银行风险承担”的传导渠道有效。（3）货币政策对内控质量与银行风险承担关系具有非对称性调节作用。高利率货币政策会减弱内控质量对银行风险承担的抑制作用,宽松货币政策会加剧内控质量对银行风险承担的抑制作用。（4）股权集中度提高会减弱内控质量对银行风险承担的抑制作用,这归于控制权过度引发的关联贷款风险集聚效应对冲了内控质量对银行风险承担的抑制效应。本文研究结论可为防控中国银行部门单体风险及金融系统性风险提供重要的理论指导与决策参考。     

The effectiveness of non-standard monetary policy in addressing liquidity risk during the financial crisis: The experiences of the Federal Reserve and the European Central Bank

A number of studies sought to measure the effects of non-standard policy on bank funding markets. This paper carries those estimates a step further by looking at the effects of bank funding market stress on the volume of bank lending. By separately modeling loan supply and demand, we determine how non-standard central bank measures affected bank lending by reducing stress in bank funding markets. Our results suggest that non-standard policy measures lowered bank funding volatility in the US and the Euro Area. Lower bank funding volatility in turn increased loan supply in both regions, contributing to sustained lending activity.     

我国个人金融业务中电子银行发展现状分析

电子银行的发展从最初的电话银行,到现在的网上银行、WAP银行和手机银行(短消息SMS),经历了一个不断成长、完善的过程。电子银行在我国发展较快,在个人金融业务中处于越来越重要的地位,也是各商业银行发展而构建共同性的战略性选择。文章试图从我国电子银行的发展状况、存在的问题,探索网络银行在现阶段的发展模式。     

Imperfect credibility and robust monetary policy

This paper studies the behavior of a central bank that seeks to conduct policy optimally while having imperfect credibility and harboring doubts about its model. Taking the Smets–Wouters model as the central bank׳s approximating model, the paper׳s main findings are as follows. First, a central bank׳s credibility can have large consequences for how policy responds to shocks. Second, central banks that have low credibility can benefit from a desire for robustness because this desire motivates the central bank to follow through on policy announcements that would otherwise not be time-consistent. Third, even relatively small departures from perfect credibility can produce important declines in policy performance. Fourth, the risk premium shock represents an important potential source of model misspecification. Finally, as a technical contribution, the paper develops a numerical procedure to solve the decision-problem facing an imperfectly credible policymaker that seeks robustness.     

投资银行在企业并购中的作用——基购于中钢并购Midwest案例分析

在企业并购,特别是跨国并购风行一时的今天,在美国投行纷纷破产或转型的今天,重提投行在并购中的作用仍有有着其不可忽略的重要性。文章首先分析了企业并购的动因,接着以号称"教科书式的经典案例——中钢并购Midwest"为载体详细介绍了投行在其间的作用,并试图借此窥探中国投行与国际水平的差距。     

论我国商业银行的房贷风险

央行的房贷加息最大的受益者恐怕就是商业银行了，由于房地产贷款大多有房地产资产作为抵押，而且迄今为止房地产信贷的违约率非常低，因此商业银行大都把房地产信贷视为优良的贷款品种，并且都在不遗余力地扩大房地产信贷业务。     

商业银行贷款风险及其防范

作为一种经济现象,商业银行贷款风险具有客观性。一直以来,商业银行的不良贷款比率都较高,情况十分不乐观。商业银行贷款风险一方面给商业银行的运营带来了不利影响,一方面还阻碍到了银行经济效益以及市场信誉的提升。因此,为了符合新协议的相关标准,在日益激烈的市场竞争中处于优势地位,商业银行就必须采取措施对贷款风险进行防范。文中从实际情况出发对商业银行贷款风险的相关现状进行了阐述,并在此基础之上分析了造成贷款风险的原因,进一步提出了相关的应对措施。     

Deposit insurance and banking system risk: Some empirical evidence

This paper examines the effect of federal deposit insurance on the riskiness of the commercial banking system. It is generally acknowledged that a system affixed rate deposit insurance creates incentives for banks to increase their risk-taking activities. Yet very little empirical evidence exists confirming or refuting this supposition. The coefficient of variation of bank profits and the standard deviation of profits are used as measures of bank risk. How these measures of bank risk are affected by deposit insurance coverage, and other variables thought to affect bank risk, is examined. Deposit insurance is found to have a statistically significant positive effect on bank risk. This result provides empirical support for the FDIC Improvement Act requirement of risk related deposit insurance premiums starting January 1994.     

管理会计在我国商业银行的应用

本文根据我国商业银行的特殊性,通过现代管理技术和方法的运用,将财务会计及其他方面提供的资料进行整理、加工和分析,使商业银行的经营管理者能对经营过程进行有效控制和考核评价,并同时对未来经济活动进行预测、决策、规划和控制的经营活动,以提高商业银行的管理水平和增强竞争力。     

Trade credit versus bank credit: Evidence from corporate inventory financing

In this study, I introduce capital market imperfections into a structure framework of inventory investments and investigate impacts of trade credit on firms’ inventory dynamics and analyze the relationship between trade credit and bank loans. As a result, firms end up using a mix of trade credit and bank loans. I find that the use of trade credit and bank credit can be either complements or substitutes. During tight monetary periods, trade credit operates mainly as a substitute for bank borrowing while during looser monetary episodes even when the economy is weak, trade credit and bank loans are dominated by a complementary effect.