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RISS 인기검색어
- 검색키워드
- 저자 : Meng-Fen Hsieh (검색결과 3 건)
- 무료
- 기관 내 무료
- 유료
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Bank Reforms and Competition: New Global Evidence
Meng-Fen Hsieh,Chien-Chiang Lee 한국증권학회 2014 Asia-Pacific Journal of Financial Studies Vol.43 No.5
This study investigates the relationships between bank reforms and competition and sets up alarge-scale sample covering 15 290 individual commercial banks from 90 countries. The empiri-cal results of the full sample indicate that bank reforms, except for interest rate controls, increasecompetition significantly. To examine whether country heterogeneities influence the effectsfrom bank reforms, we further divide countries into six groups: Advanced, Asia, Latin America,Middle East and North Africa (MENA), Sub-Saharan Africa (SSA), and Transition countries. Our results show that: (i) interest rate controls play an important role for Advanced countries;(ii) privatization is substantial for Transition countries, Asia, Latin America, and MENA; (iii)credit control is suitable for Asia; and (iv) removing entry barriers improves bank competitionin MENA and SSA. Empirical results thus offer evidence that country characteristics do matteron the reform–competition nexus. Moreover, we also reveal that bank competition is enhancedthrough bank reforms, as well as financial and economic development variables. Hence, the gov-ernment or authorities should take these influential factors into consideration when formulatingrelevant policies. These findings also provide important implications.
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Bank Liquidity Creation, Regulations, and Credit Risk
Chien-Chiang Lee,Meng-Fen Hsieh 한국증권학회 2020 Asia-Pacific Journal of Financial Studies Vol.49 No.3
This study employs bank-level data covering 3007 individual banks (commercial, savings, and others) in 27 Asian countries to investigate the determinants of bank liquidity creation, considering four conditional factors over the period 1999–2013: credit risk, deposit insurance, financial market regulations, and bank reforms. Bank liquidity creation is shown to be statistically and economically significantly positively related to real economic output, as well as illiquid assets and core deposits. Larger banks increase their liquid assets ratio, but decrease their credit commitment. Countries implementing an explicit deposit insurance scheme may lead to moral hazard and excessive bank risk taking. If supervisory authorities can force a bank to change its internal organizational structure, or have more power to take legal action against external auditors for negligence, or increase capital requirements, then banks generally reduce their lending activities. Nevertheless, larger banks are able to increase liquid assets and lending to those countries with stricter financial regulations.
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CHIEN-CHIANG LEE,Meng-Fen Hsieh,Pei-Fen Chen,Shih-Jui Yang 한국증권학회 2013 Asia-Pacific Journal of Financial Studies Vol.42 No.5
This paper examines the impact of bank diversification on stability, using bank-level data for 22 Asian countries over the period from 1995 to 2009. We empirically investigate whether country characteristics, economic structure, regulatory and governance environments, and globalization have affected the degree of banking stability in Asia. This study takes on two measures for banking diversification - asset and income diversities - and adopts a broad set of variables as a proxy for bank stability. We apply dynamic panel data techniques and show different results from the U.S. and Europe. Our results first reveal that in Asia asset diversity is not sufficient enough to improve bank stability. However, bank stability can be enhanced through a strategy of income diversity. Second, a higher degree of globalization decreases bank stability through income diversity, but stability rises through asset diversity. Third, a country with a higher level of corporate governance reduces the agency problem, thus further increasing stability through diversity. Finally, a country with a higher level of economic development will support asset diversity so that banks can obtain higher profit accompanied by lower risk.
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