New European Banking Governance and Crisis of Democracy: Bank Restructuring and Privatization in Slovenia

ABSTRACT

The paper makes three contributions to the understanding of the post-crisis European banking governance. First, it offers a more comprehensive approach to banking governance, beyond the Banking Union, through its concept of ‘New European Banking Governance’ (NEBG) that incorporates EU state aid rules and fiscal regulations. Second, it considers the impact of NEBG on democratic institutions and processes in EU member states, an under-researched topic in the literature on European banking governance. Finally, through its in-depth case study of Slovenia it considers the NEBG in relation to peripheral Eurozone states. It argues that the post-crisis banking governance framework of the EU not only severely constrained the Slovenian state in its policy choices but rearranged its policy-making institutions in a way that restricted and continues to restrict democratic banking policy formation.     

从中小民营企业融资谈银企关系

中国的民营企业近几年得到迅猛发展,涌现了一大批优秀的企业,但其中占大多数的中小型企业的实力与发达国家相比差距很大。这其中有多方面的原因,银企合作未充分利用,中小企业融资难是一个重要原因,从而大部分企业是自生自灭,更谈不上做大做强,目前包括政府在内的社会各界都在呼吁,银企携手,建立良好的合作关系,开创双赢新局面。     

美英德日银行公司治理比较

本文通过对美英德日银行公司治理的比较，发现治理的目标的一致性，即通过发挥管理和监督功能，来实现公司价值的最大化或股东价值的最大化。但由于法律制度、资本市场、政治体制的差异，各国银行公司治理结构模式又不尽相同。本文试图在进行比较研究的基础上，为我国银行改善公司治理提供启示和借鉴。     

A hierarchical model of the determinants of non-performing assets in banks: an ISM and MICMAC approach

The banking systems of emerging economies in general and India in particular are facing sustained impairment due to mounting non-performing assets (NPAs). In the absence of stringent policies and their implementation, the results will be detrimental and may eventually lead to an economic crisis. Thus, it is imperative to unearth the causal factors and mitigate the risks involved with rising NPAs. The study attempts to identify the determinants of NPAs from the existing literature and subsequently, explore the interlinkages between the identified factors. A model of these factors is developed using Interpretive Structural Modeling (ISM) and MICMAC approach. Key managerial insights were obtained by the suggested model, specific to the Indian context. The hierarchical model provides a clearer perspective about the relationship between the factors and suggests that economic conditions and political factors are the key drivers which impact the ownership pattern and adherence to the regulatory framework; these further impact the internal factors related to the banks and borrowers’ capacity to repay. The study will act as a scaffolding for policymakers and bankers. Based on these findings, better instruments and mechanisms for recovery/management of NPAs can be put in place.     

我国银行业的市场结构分析及改革对策

经过二十多年的改革,我国银行业市场结构有了很大变化。运用市场份额、市场集中度、进入、退出壁垒和产品差异化等指标,分析了我国银行业的市场结构,得出我国银行业有寡头垄断特征,并呈现出向垄断竞争市场结构过渡的趋势。在分析我国银行业市场绩效低下原因的基础上,初步提出了银行业优化市场结构,提高竞争力的对策。     

Market Structure and Risk Taking in the Banking Industry

We demonstrate that the common view according to which an increase in competition leads banks to increased risk taking fails to hold in an environment where homogeneous loss averse consumers can choose in which bank to make a deposit based on their knowledge of the riskiness incorporated in the banks outstanding loan portfolios. With an exclusive focus on imperfect competition we find that banks incentives for risk taking are invariant to a change in the banking market structure from duopoly to monopoly. Finally, we show that deposit insurance would eliminate the gains from bank competition when banks use asset quality as a strategic instrument.revised version received October 15, 2003     

网上银行业务发展初探

文章就网上银行的特点,我国网上银行业务发展状况、存在问题及解决措施进行了初步探讨。     

混业经营：中国商业银行发展的必由之路

分业经营在经济发展水平较低的时期对金融的发展具有一定的促进作用。在而，对现代金融来说它却带来了一系列的问题，银行风险的恶化、竞争力的下降等，更严重的是，随着我国加入世贸组织，我国商业银行将面临更大的冲击，坚持分业经营无异于作茧自缚，摆在我们面前的路只有一条-混业经营，这是大势所趋。     

Banks’ non-traditional activities under regulatory changes: impact on risk,performance and capital adequacy

Using the big six Canadian chartered banks quarterly financial statements and daily stock market data from 1982 to 2018, we examine the impact of non-interest income on Canadian banks’ risk, performance and capital under the different major regulatory changes made to the Bank Act of Canada. Our results show that Canadian banks’ expansion into non-traditional activities had slightly decreased their risks and significantly improved their performance benefitting from income diversification. Moreover, while adhering to capital adequacy regulation, reshuffling banks’ portfolio towards non-traditional activities did not reduce Canadian banks’ capital ratio. In spite of the re-regulation towards universal banking against ring-fencing, this feature buttresses the effectiveness of capital adequacy regulation in Canada in linking banks capital allocation with their risk taking.     

金融中介及关系银行——基于广东外资企业银行融资数据的研究

本文根据外资银行和国有商业银行向在中国境内的外资企业提供的外币贷款和人民币贷款的数据 ,对金融中介及关系银行进行了实证研究。我们的主要结论有两点 :第一 ,企业与银行建立起来的金融业务关系越长久 ,那么其所获得的外币贷款利率就越低。这是对金融中介理论的支持。另外 ,外资控股、第三方担保等因素 ,也具有降低外币贷款利率的效应。第二 ,人民币贷款的利率随着外资企业与更多的银行建立和保持合作关系而降低。人民币贷款主要是由我国商业银行提供。如果商业银行间的竞争仅仅是用来作为信贷定价的主要决定因素 ,而不是用来推进金融创新 ,提供高质量的金融产品和服务 ,那么这将会损害我国商业银行的获利能力并进而影响金融系统的健康发展。