国际银行业的多元化战略与投资机会

IF 3.3 2区 经济学 Q2 BUSINESS, FINANCE
Manapol Ekkayokkaya , Pisploen Ploenchitt , Christian C.P. Wolff
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引用次数: 0

摘要

我们研究了银行的多元化策略是否以及如何响应预期的投资机会。我们发现了与以下观点一致的证据:银行是通过多样化发展内部融资能力以应对良好的前景,还是在当前活动中寻找新的增长机会以应对糟糕的前景,这取决于外部资本约束。结果进一步表明,银行认为直接控制内部资金配置比依赖集团母公司管理的资金配置是最优的。我们还发现证据表明,虽然国际多样化可以促进活动多样化,但前者不太可能取代后者。此外,没有证据表明银行的活动多样化反映了低效的多样化。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Diversification strategies and investment opportunities in the international banking industry
We examine whether and how banks’ diversification strategy responds to expected investment opportunities. We find evidence consistent with the view that whether banks diversify to develop internal funding capability in response to good prospects, or to search for new growth opportunities in response to poor prospects in the current activity, depends on external capital constraints. The results further suggest that banks find it optimal to have immediate control over the internal fund allocation rather than relying on the allocation managed by their group parent. We also find evidence suggesting that although international diversification can facilitate activity diversification, the former is unlikely to substitute for the latter. In addition, there is no evidence that activity diversification by banks reflects inefficient diversification.
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来源期刊
CiteScore
4.20
自引率
4.00%
发文量
141
期刊介绍: Since its launch in 1982, Journal of International Money and Finance has built up a solid reputation as a high quality scholarly journal devoted to theoretical and empirical research in the fields of international monetary economics, international finance, and the rapidly developing overlap area between the two. Researchers in these areas, and financial market professionals too, pay attention to the articles that the journal publishes. Authors published in the journal are in the forefront of scholarly research on exchange rate behaviour, foreign exchange options, international capital markets, international monetary and fiscal policy, international transmission and related questions.
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