What's in a relationship? The case of commercial lending

This article presents a survey and an analysis of the academic literature on relationship lending to small and mid-sized enterprises (SMEs). It is noted herein that relationship lending depends on soft (non-quantifiable) information, while other “lending technologies” depend on hard (quantifiable) information. Based on relative benefits and costs, relationship lending may be best suited for some types of SMEs, with alternate lending technologies better matched to others. Also discussed in this article are some interesting managerial and public policy issues. On the bank management dimension, relationship lending may create a special challenge for risk managers. On the public policy dimension, evidence suggests that relationship lending may be better delivered by smaller community banks; banking industry consolidation could, however, threaten the presence of such providers. Counter-intuitively, it is possible that banking industry competition may not be the best environment for relationship lending. Finally, this article highlights potentially interesting differences in the relative importance of relationship lending and the other lending technologies across countries with different financial architectures, and examines a potentially powerful link between relationship lending and monetary policy and other monetary shocks.     

资产价格波动与银行系统稳定

本文主要研究资产价格波动与银行系统稳定之间的关系.有关金融危机的理论研究表明,资产价格波动与银行脆弱性之间存在很强的相关性.资产价格波动主要通过信贷风险渠道、市场风险渠道、经纪业务收入渠道、为附属机构注资的风险渠道及"第二回合"渠道等传导渠道,影响到银行系统的稳定.发生在斯堪的纳维亚和日本的银行危机证明,资产价格剧烈波动确实会造成严重的银行问题,因此为维持银行系统的稳定,监管当局应该密切关注资产价格可能出现的剧烈下跌对银行部门可能产生的风险,并以相应的方法应对.     

Do Depositors Benefit from Bank Mergers? An Examination of the UK Deposit Market

This study examines whether depositors benefit from bank mergers Specifically, do horizontal retail bank mergers influence the availability and interest rates of deposit services? This examination is important, as the effect of mergers on customers is a primary merger assessment criterion in the European Union and the United States. The research question is addressed by considering 57 UK banking mergers over the period 1989–2008. It is reported that different deposit services and deposits of different values face statistically insignificant levels of interest-rate change after mergers. The availability of notice deposit services for low and high levels of investment are reduced after mergers and are largely unchanged for other deposit services. It is concluded that UK depositors benefit little from bank mergers, and different types of depositor face differences in the availability of deposit services after mergers.     

The cross-Atlantic tussle over financial data and privacy rights

Banking is an international business; both information and capital flow relatively unimpeded across international borders. Banking institutions’ information stores have increased dramatically with the spread of computers, and these institutions protect data inside their firewalls from outside eyes, and from disaster, through establishing multiple secure data repositories. However, access to banks’ databases is increasingly sought by governments and governance institutions, and restrictions are tightening on moving data across borders. Probably the most prominent example of both trends involves European Union–domiciled cross-border banking business. A key legal reason for resulting issues hinges on differing views of privacy rights: the European Union enshrines privacy as a human right, while the United States empowers rights of free speech over privacy. These differing approaches to privacy rights have caused a cross-Atlantic conflict for global banks. Caught between competing, conflicting regulations, banks’ capacity to move information and to comply with governments’ demands for it have become restricted. This restriction is happening as governments seek increased access to banks’ information for purposes of financial information statecraft—the notion that countries can influence other governments’ policies and actions through data.     

品牌个性、消费者真实自我与品牌态度

基于FCB Grid模型视角,运用实证分析的方法研究品牌个性与消费者真实自我对品牌态度的影响。研究发现,高涉入度/认知型和高涉入度/情感型品牌的品牌个性与真实自我概念一致的群体比不一致的群体具有更高的品牌态度,在此类品牌的塑造上考虑注入品牌个性的五个维度中的"智"和"雅"的个性特征,低涉入度/认知品牌未显示出显著的品牌个性,低涉入度/情感型品牌的一致群体与不一致群体均显示出显著的品牌个性。     

Banking crises and exchange rate regimes: is there a link?

This paper investigates the linkages between banking crises and exchange rate regimes, using a comprehensive cross-country dataset for the last two decades. The paper examines whether the choice of exchange rate regime affects the likelihood, cost, and duration of banking crises. Empirical results seem to indicate that adopting a fixed exchange rate diminishes the likelihood of banking crises among developing countries. However, once crises occur, the real costs associated with them appear to be larger in countries with fixed exchange rates. The duration of crises does not seem to be robustly affected by the exchange rate policy.     

Multistrategic Spatial Competition in Banking

This paper presents a model whereby banking firms use various strategies (price and non‐price) simultaneously in a monopolistically competitive model of spatial competition when the various strategies are used across different markets in the presence of a multioutput technology. The theoretical model is estimated with Spanish data pertaining to the pre‐ and post‐deregulatory periods in order to investigate the effects of deregulation of both interest rates and branches on the (differential) strategic conduct of private and savings bank.     

Financial reforms in Chinese banking: The impact on personal lending and operational efficiency

The Chinese financial system has historically been one of secrecy, distrust, and corruption. The process does not align with the western standards of transparency and auditing. In contrast to the transaction-based business culture of the West, Chinese business society is relationship-based (quanxi), which still seems to play a key role in the credit decision. With the growth of the emerging middle class, access to financial instruments such as credit cards, life insurance, stock purchases, and the like will play a greater role in the life of the Chinese consumer. Based on these forecasts, the authors recommend seven actions to manage financial activities in China, all of which are explored within this article.     

浅议河北省农村信用社自助银行业务的发展

作为一种高智能化的银行服务方式,自助银行业务依托现代通讯和计算机技术,延长了银行的有效营业时间,满足了客户随时可能发生的金融服务需求。合理的布局可以弥补银行营业网点的不足,增加业务网点覆盖面。减轻柜员的劳动强度,有效地提高银行的服务效率。加快发展河北省农村信用社自助银行业务不仅是必要的,而且是可行的,并有着广阔的发展前景。     

自助式整体薪酬及其在我国的适用性研究

在激烈的市场竞争中 ,健全的薪酬体制是吸引、激励、发展与留住人才最有力的工具。而传统的薪酬设计理念已经不能满足现代高素质员工个性化的需求 ,本文就如何强化薪酬的激励功能 ,如何吸引人才探讨了一种全新的薪酬管理模式———自助式整体薪酬 ,它把薪酬的各项要素有机地整合到一起 ,更突出以人为本的经营理念 ,在企业竞争中显现出了独特的魅力。     

Predicting brand preferences using self-concept theory

This paper seeks to replicate Ross's seminal work on self-concept and brand preference. Self-concept theory posits consumers as having perceptions of their selfs, from which predictions about brand preferences can be made, based on the similarity between consumers' self-perceptions and brands' images. The hypothesis that consumers prefer a brand whose image is more congruent with their self-concept was tested in three product fields and was partly supported. In common with Ross, we found that actual, rather than ideal, self-concept was a better predictor of brand preference for conspicuously consumed products. For the most inconspicuously consumed product, salt, neither actual nor ideal self-concepts were good predictors of brand preference.