全球银行与内部资本市场的选择秩序：地点活动模式重要吗？

IF 5.4 2区经济学 Q1 BUSINESS, FINANCE

Journal of International Financial Markets Institutions & Money Pub Date : 2024-11-25 DOI:10.1016/j.intfin.2024.102083

Carmela D’Avino

{"title":"全球银行与内部资本市场的选择秩序：地点活动模式重要吗？","authors":"Carmela D’Avino","doi":"10.1016/j.intfin.2024.102083","DOIUrl":null,"url":null,"abstract":"<div><div>This paper examines whether global banks’ liquidity reallocations via internal capital markets are driven by the locational activity patterns of their foreign branches. Using aggregated data of foreign branches of US global banks located in 52 countries, we advance evidence of a picking order that favors locations where branches are more heavily engaged in lending activities. Specifically, we find that internal liquidity support to branches in host countries with prominent local lending activities is especially significant during a contraction in local deposits.</div><div>In jurisdictions where branches have higher shares of market-based activities and off-balance sheet exposures, we do not observe a significant increase in internal liquidity support following local funding contractions.</div></div>","PeriodicalId":48119,"journal":{"name":"Journal of International Financial Markets Institutions & Money","volume":"97 ","pages":"Article 102083"},"PeriodicalIF":5.4000,"publicationDate":"2024-11-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Global banks and the picking order in internal capital markets: Do locational activity patterns matter?\",\"authors\":\"Carmela D’Avino\",\"doi\":\"10.1016/j.intfin.2024.102083\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>This paper examines whether global banks’ liquidity reallocations via internal capital markets are driven by the locational activity patterns of their foreign branches. Using aggregated data of foreign branches of US global banks located in 52 countries, we advance evidence of a picking order that favors locations where branches are more heavily engaged in lending activities. Specifically, we find that internal liquidity support to branches in host countries with prominent local lending activities is especially significant during a contraction in local deposits.</div><div>In jurisdictions where branches have higher shares of market-based activities and off-balance sheet exposures, we do not observe a significant increase in internal liquidity support following local funding contractions.</div></div>\",\"PeriodicalId\":48119,\"journal\":{\"name\":\"Journal of International Financial Markets Institutions & Money\",\"volume\":\"97 \",\"pages\":\"Article 102083\"},\"PeriodicalIF\":5.4000,\"publicationDate\":\"2024-11-25\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of International Financial Markets Institutions & Money\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1042443124001495\",\"RegionNum\":2,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of International Financial Markets Institutions & Money","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1042443124001495","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}

引用次数: 0

摘要

本文研究了全球性银行通过内部资本市场进行流动性再分配是否受其国外分支机构的地区活动模式所驱动。利用美国全球性银行在 52 个国家的海外分支机构的汇总数据，我们提出了有利于分支机构更多从事贷款活动的地区的选择顺序的证据。具体而言，我们发现，在当地贷款活动突出的东道国，对分行的内部流动性支持在当地存款收缩时尤为显著。在分行市场化活动和资产负债表外风险敞口占比较高的辖区，我们没有观察到内部流动性支持在当地资金收缩后显著增加。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

Global banks and the picking order in internal capital markets: Do locational activity patterns matter?

This paper examines whether global banks’ liquidity reallocations via internal capital markets are driven by the locational activity patterns of their foreign branches. Using aggregated data of foreign branches of US global banks located in 52 countries, we advance evidence of a picking order that favors locations where branches are more heavily engaged in lending activities. Specifically, we find that internal liquidity support to branches in host countries with prominent local lending activities is especially significant during a contraction in local deposits.

In jurisdictions where branches have higher shares of market-based activities and off-balance sheet exposures, we do not observe a significant increase in internal liquidity support following local funding contractions.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

Journal of International Financial Markets Institutions & Money Multiple-

CiteScore

6.60

自引率

10.00%

发文量

142

期刊介绍： International trade, financing and investments, and the related cash and credit transactions, have grown at an extremely rapid pace in recent years. The international monetary system has continued to evolve to accommodate the need for foreign-currency denominated transactions and in the process has provided opportunities for its ongoing observation and study. The purpose of the Journal of International Financial Markets, Institutions & Money is to publish rigorous, original articles dealing with the international aspects of financial markets, institutions and money. Theoretical/conceptual and empirical papers providing meaningful insights into the subject areas will be considered. The following topic areas, although not exhaustive, are representative of the coverage in this Journal. • International financial markets • International securities markets • Foreign exchange markets • Eurocurrency markets • International syndications • Term structures of Eurocurrency rates • Determination of exchange rates • Information, speculation and parity • Forward rates and swaps • International payment mechanisms • International commercial banking; • International investment banking • Central bank intervention • International monetary systems • Balance of payments.