An Empirical Study on Factors Affecting Foreign Bank Investment in China's Financial Market

다국어 초록 (Multilingual Abstract)

Foreign banks have expanded rapidly in the emerging financial market since the 1990s. As the largest emerging market in the world, China is the objective of research in this paper. This paper seeks to determine the factors causing the growth of foreign banks investment in China. The amount and type of foreign bank activity varies greatly by province, with Shanghai and Beijing being by far the most important. Previous researches have shown some important factors and implications in the case of developed countries as host countries. One of the aims of the paper is to find the difference between developing countries and emerging markets. The most comprehensive examination of the development of foreign banks in China is presented and tested in order to facilitate the understanding of the expansion of international banking. The results show that market opportunity is an important determinant. International trade is also significant except for the foreign direct investment factor. The results are a little different from in the developed countries, but consistent with that of an emerging economy.

국문 초록 (Abstract)

1990년대부터 외국계 은행은 신흥금융시장에 대한 투자를 확장하였다. 본 연구에서는 세계의 최대 신흥국가로 불리우는 중국을 연구대상으로 외국계 은행의 대 중국 투자에 영향을 미치는 요인에 대해 살펴보았다. 외국계 은행은 상해와 북경을 가장 중요한 시장으로 보고 있었고 외국계 은행의 투자규모와 유형은 성별로 커다란 차이를 나타내고 있다. 선진국이 현지국일때의 투자 요인을 분석한 기존 연구와는 달리 본 연구의 목적중의 하나는 신흥국가의 경우 선진국에 비하여 외국계 은행의 투자에서 어떠한 차이를 가지고 있는지를 살펴보고자 하는 것이다. 외국계 은행의 중국에서의 영업 확장을 살펴보기 위하여 외국계 은행의 포괄적인 발전에 대하여 살펴보고 일련의 가설을 검증하였다. 분석 결과, 중국에서의 외국계 은행의 투자 결정요인으로 시장기회가 중요한 요인으로 나타났고 대외무역 요인은 유의미한 결과를 보였으나 외국인직접투자요인은 중요하지 않은 것으로 나타났다. 이는 선진국의 경우와 다른 결과를 제시하고 있지만 일부 신흥국가에 대한 선행 연구와는 일치한 결과를 나타내고 있다.

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