马来西亚伊斯兰银行业的崛起与启示

近年来,马来西亚伊斯兰银行业发展迅速,取得了令世界瞩目的成绩,马来西亚在全球伊斯兰金融界的地位也在不断上升。中国有2000多万穆斯林,伊斯兰银行业务的潜在需求很大,可以从马来西亚的成功经验中获得一些启示。     

证券公司投行人员参股拟上市公司的风险剖析及解决对策

随着越来越多的中小板和创业板新股项目发行,投行人员PE腐败案例或线索也暴露出不少,这种不公平和公正的参股行为是对资本市场的重大危害。PE市场的腐败根源来自哪里?如何切断权力寻租、还原市场应有秩序?本文主要探讨这些热点问题。     

中国“影子银行”体系的形成机理与监管逻辑

与欧美发达国家“影子银行”体系有着重要区别,中国“影子银行”体系具有特殊的形成机理,是金融抑制制度背景下的博弈产物。目前,中国“影子银行”体系并不具备显著的自身脆弱性,但对传统货币政策调控形成挑战,需要做出富有逻辑性的监管安排。     

对我国影子银行业务的一些看法

中国的影子银行,可以看作仅仅是银行的影子.银行为规避监管,追求较高收益,主导了资金转出传统存贷系统,在资产负债表外办理资金中介业务.其主要问题是扰乱了利率体系和社会利益分配格局,助长了经济结构的非市场化倾向.解决问题的思路,首先要促使影子银行体系透明化运作,其次是改革相关规则,让市场发出正确的信号.     

Efficiency amongst China's banks: a DEA analysis five years after WTO entry

WTO entry in 2001 heralded a new stage in the reform of China's banking sector. With the reality that foreign banks would be extended national treatment by the end of 2006, China's banks faced the imperative to reform in earnest. They began reforms from a variety of different starting points and have pursued a variety of different reform approaches. Five years on, this paper assesses efficiency levels in 11 of China's most prominent banks. The results, obtained using Data Envelopment Analysis (DEA), suggest that differences in efficiency levels are actually quite small. On the one hand, this finding is encouraging because it suggests that few of China's major banks lag behind the pack. On the other hand, it also implies that efficiency levels almost certainly do lag in China's less prominent banks, which together still account for more than 40% of total banking system assets.     

Developing Consumer-Based Service Brand Equity via the Internet: The Role of Personalization and Trialability

The commercialization of the Internet has provided opportunities for building service brands in the minds of consumers. Services are characterized as intangible, heterogeneous, inseparable, and perishable features that often engender high information costs and, hence, low perceived value to potential consumers. When a service is available via the Internet—a medium that can subdivide and rebuild the service into personalized offerings—potential consumers become better informed in advance of what the service provides. The Internet also permits most services to be trialable before consumption. These new features, empowered by the Internet, have important implications for what we call consumer-based service brand equity (CSBE), the value that potential consumers assign to a service brand. This article investigates the effects of service personalization and trialability on the development of CSBE of Internet banking service, a typical service available via the Internet. Results from a laboratory experiment indicate that both service personalization and trialability have significant positive influences on the development of the CSBE of an Internet banking service brand. While personalization was found to indirectly influence CSBE development by mediating the perceived benefits of the brand, trialability exerted both a direct and an indirect effect. Trialability developed the brand's CSBE by first mediating the information through gathering cost savings and then the perceived benefits of the brand. Implications of the study's results are discussed.     

Are Foreign Banks Better Performers Than Domestic Counterparts? Examining the Financialization Hypothesis in Mexico

This article analyzes the relationship between “financialization” and the performance of credit institutions in Mexico over the period 1999–2013. On average, foreign banks have higher cost-to-income ratio and return on assets than domestically owned banks. Non-interest income to gross revenue positively contributes to foreign bank profits, which highlights income other than conventional banking transactions. When considering references in the literature to non-interest income as a proxy for financialization, our results imply that domestic banks are more dependent on traditional lending, such as interest-earning assets, whereas foreign banks seem to engage in greater diversification to support profitability. Overall, the banking system reveals tendencies (“financialization”) that can possibly work against credit facilitation in Mexico.     

Merger drivers and the change of bidder shareholders' wealth

A growing number of merger studies concern the causality of firm performance and merger activity in the last decade, but with mixed results. Assuming semi-strong efficiency, this article argues that firms with good stock performance are more likely to acquire other firms. With 412 US-listed bidders, results from the event study method clearly support our hypothesis by showing a strong upward movement of cumulative abnormal returns across groups in the pre-merger period. Results also suggest that bidders of different characteristics have different preference for payment methods and thus the market reactions to them are different, despite the noise that frequently accompanies merger activity. These empirical outcomes are important to both investors and financial services companies including investment banks when knowledge about the market reactions to their clients in mergers is required.     

Corporate brand image in retail banking: development and validation of a scale

Recent changes in deregulation and technology have made banking one of the most competitive sectors in the global economy. Within this background, corporate image management has gained importance as a way of differentiating companies. This paper aims to develop a scale to analyse the corporate image in banking. Derived from a review of the literature, a scale with the most cited dimensions of analysis is developed. This scale is then tested by means of an empirical study of 450 individuals, where dimensionality, reliability and validity requirements are confirmed. Both theoretical and managerial implications are presented.     

Testing for convergence in bank efficiency: a cross-country analysis

This paper empirically investigates a possible convergence among the operational efficiency of financial institutions across countries. We explore (i) the relative performance of banking industries in two samples (European and global) over time, and (ii) whether banking industries are likely to attain the same level of efficiency in the long run as implied by international financial integration. We find that convergence in bank efficiency is incomplete and limited to European banking industries. Differing level of bank efficiencies across the globe may offer opportunities for international investors who would like to capitalize on such market imperfections. Our findings also have implications for policy makers who are concerned with the full integration and the stability of the global financial system.