Small European Banks: Benefits from Diversification?
Small European Banks: Benefits from Diversification?
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DOI：
10.2139/ssrn.949053
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发表时间：
2006-07
期刊：
影响因子：
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通讯作者：
S. Wolfe;Steve Mercieca;K. Schaeck
中科院分区：
文献类型：
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作者：
S. Wolfe;Steve Mercieca;K. Schaeck
在欧洲金融体系自由化和统一的推动下，我们调查了观察到的向非利息收入活动的转变是否改善了欧洲小型信贷机构的绩效。使用1997-2003年期间755家小银行的样本，我们发现在业务线内部和跨业务线之间没有直接的多元化收益，非利息收入与银行绩效之间存在负相关关系。我们的研究结果对于使用替代样本和控制监管环境的一组敏感性分析是稳健的。此外，研究结果为规模经济的存在提供了间接证据。缺乏多元化带来的好处证实了其它银行市场的发现，并表明欧洲小型银行进入了它们目前缺乏专业知识和经验的业务领域。这些结果对银行监管者、监管者和银行经理都有启示意义。
Motivated by the liberalisation and harmonisation of financial systems in Europe, we investigate whether the observed shift into non-interest income activities improves performance of small European credit institutions. Using a sample of 755 small banks for the period 1997–2003, we find no direct diversification benefits within and across business lines and an inverse association between non-interest income and bank performance. Our findings are robust to a set of sensitivity analyses using alternative samples and controlling for the regulatory environment. Furthermore, the results provide circumstantial evidence for the presence of economies of scale. The absence of benefits of diversification confirms findings for other banking markets and suggests small European banks enter lines of business where they currently lack expertise and experience. These results have implications for bank supervisors, regulators and bank managers.