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1.
The impact of foreign banks’ entry on the conventional banking sector has been well documented in the literature. However, empirical evidence on the impact of foreign banks’ entry on the Malaysian Islamic banking sector is completely missing from the literature. By employing the Malmquist Productivity Index method, the article provides, for the first time, empirical evidence on the impact of foreign banks’ entry on the efficiency and productivity of the Islamic banking sector. The empirical findings indicate that the De Novo foreign Islamic banks have been relatively more efficient and productive compared to their domestic and foreign Islamic bank counterparts. The results also suggest that the Malaysian Islamic banking sector has exhibited a higher level of total factor productivity during the post De Novo foreign Islamic banks’ entry period.  相似文献   

2.
This paper analyzes the systemic risk effects of bank mergers to test the “concentration-fragility” hypothesis. We use the marginal expected shortfall as well as the lower tail dependence between a bank’s stock returns and a relevant bank sector index to capture the merger-related change in an acquirer’s contribution to systemic risk. In our empirical analysis of a dataset of international domestic and cross-border mergers, we find clear evidence for a significant increase in the merging banks’, the combined banks’ as well as their competitors’ contribution to systemic risk following mergers, thus confirming the “concentration-fragility” hypothesis.  相似文献   

3.
Banks are unique financial institutions in that they combine the production of liquid claims—that is, demand deposits—with loans. Though banks can replicate most of what FinTech firms can do, FinTech firms benefit from an uneven playing field in that they are less regulated than banks. The uneven playing field enables nonbank FinTech firms to challenge banks in specific product areas where success is not tied to what makes banks unique—namely, their deposit‐gathering abilities and the potential for synergies with borrowers provided by deposits. And although banks’ responses to FinTech have also been hampered by their legacy IT systems and by internal frictions inherent in large diversified firms, FinTech's narrow product offerings and lack of established “franchises” appear to put clear limits on Fintech's ability to displace banks. Unlike Fintech, however, BigTech firms have some advantages that banks will find it harder to replicate, and so they present a much stronger challenge to established banks in two main areas: consumer finance and loans to small firms. And FinTech as well as BigTech are contributing to a trend in which banks are losing a comparative advantage that has derived from having more immediate access to information about parties seeking credit. The extent to which banks succeed in warding off such threats will depend on (1) their ability to make effective—and possibly even better—use of the same information technology now being used by its new competitors, and (2) their success in realizing economies of scale and scope that their nonbank competitors will find hard to match.  相似文献   

4.
I explore the effect of the threat posed by low-cost competitors on debt structure in the airline industry. I use the route network expansion of low-cost airlines to identify routes where the probability of future entry increases dramatically. I find that when a large portion of their market is threatened, incumbents significantly increase debt maturity before entry occurs. Overall, the main findings suggest that airlines respond to entry threats trading off the benefits of short-term financing for lower rollover risk. The results are consistent with models in which firms set their optimal debt structure in the presence of costly rollover failure.  相似文献   

5.
As competition in the banking sector has intensified over the last two decades, commercial banks have started to use trademarks to differentiate their products and services from those offered by their competitors. Less clear are the implications of the trademarking activities on the commercial banks’ performance. In this paper, we compare the cost and profit efficiency of trademarking and non-trademarking banks in the UK, over the period 2001–2013 using stochastic frontier methods. We use Propensity Score Matching techniques to identify a sample of non-trademarking banks which share the same characteristics as the trademarking banks to ensure that variations in the efficiency between the commercial banks in our sample can be attributed to their trademarking status only. We then explicitly test the hypothesis that trademarking and non-trademarking banks share the same cost and profit frontiers. We cannot reject the hypothesis of a common cost and profit frontier. We also find that trademarking banks tend to be more profit efficient than non-trademarking banks while there is no significant difference between the cost efficiency scores of trademarking and non-trademarking banks.  相似文献   

6.
We measure the competitive effect of public banks in concentrated local markets in Brazil using branch location patterns. We employ variation in market size, number, and identity of competitors to determine how the conduct of private banks is affected by the entry of a public bank. We find that the market size needed to sustain a private bank branch is 35% larger if a private competitor is present and is not significantly affected by the presence of a public bank. These results suggest that the presence of a public bank does not affect conduct of private banks.  相似文献   

7.
周先平 《投资研究》2012,(2):103-112
本文利用MS-VAR模型分析了外资银行、本土银行在面对货币政策调控时的信贷行为,发现不论是在货币政策相对紧缩时期还是相对扩张时期,本土银行发放的信贷都会随货币供给增加而增加;外资银行信贷反应相对较弱;在货币政策相对扩张时期,外资银行发放的信贷会随着货币供给的增加而增加,但是在货币政策相对紧缩时期,其发放的信贷并不会随货币供给的增加而增加。本文对于加强货币政策调控有一定的启示作用。  相似文献   

8.
We use the relaxation of interstate branching restrictions under the Interstate Banking and Branching Efficiency Act (IBBEA) to examine how increases in competition affect incumbents’ voluntary disclosure choices. States implemented the IBBEA over several years and to varying degrees, allowing us to identify the effect of increased competition on the voluntary disclosure decisions of both public and private banks. We find that increases in competition are associated with an increase in press releases. Overall, press releases become more negative in tone as entry barriers decrease. However, disclosures by public banks and by banks issuing equity become incrementally positive in tone when entry barriers decrease. Thus, the increase in disclosure is consistent with a dominant incentive to deter entry via negative information, which is mitigated by an incentive to communicate positive information to investors.  相似文献   

9.
We analyze the role of state ownership in the banking sector from the perspective of competition. That is, do state-owned banks play a special role as competition enhancers? Focusing on the market for mortgage loans in Switzerland, we test four hypotheses which are consistent with this view. First, are state-owned banks’ interest rates relatively cost sensitive? Second, are state-owned banks charging relatively low mark-ups? Third, are the state-owned banks’ interest rates particularly borrower friendly? And fourth, do state-owned banks exert a disciplinary effect on competitors’ prices? Based on a comprehensive database containing information at the individual bank level over the 1996–2002 period, our answer is ‘No.’  相似文献   

10.
This paper studies whether and how environmental, social, and governance (ESG) disclosure regulations imposed on banks generate transmission effects along the lending channel. I use a setting of U.S. firms borrowing from non-U.S. banks and exploit the staggered adoption of ESG disclosure regulations in banks’ home countries. I find that exposed borrowers of affected banks improve their environmental and social (E&S) performance following the disclosure mandate. Consistent with banks enhancing both their engagement and selection activities, affected banks impose more environmental action covenants in loan contracts, and they are more likely to terminate a borrower with bad E&S records following the regulation. Further evidence shows that the transmission effects are stronger when a disclosure regulation is well-enforced (as indicated by a greater increase in banks’ disclosure) and among borrowers with greater switching costs. Collectively, the findings document the role of lending relationships in transmitting the real effect of ESG disclosure regulations from banks to borrowing firms.  相似文献   

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