Income diversification and bank performance: Evidence from Italian banks
Income diversification and bank performance: Evidence from Italian banks
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DOI：
10.1007/s10693-008-0029-4
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发表时间：
2008-06-01
影响因子：
1.4
通讯作者：
Salvini, Francesca
中科院分区：
文献类型：
--
作者：
Chiorazzo, Vincenzo;Milani, Carlo;Salvini, Francesca
利用意大利银行的年度数据，我们研究了非利息收入和盈利能力之间的联系。我们发现，收入多元化增加风险调整后的回报。我们的研究结果提供的计量经济学证据与目前对欧盟银行的研究一致，但不支持对美国银行的研究结果。S.体验.在我们看来，这种差异主要取决于当地银行的相对重要性：我们发现，在大型银行中，这种关系更强。此外，我们发现，随着银行规模的扩大，多元化收益是有限的。小银行可以从增加非利息收入中获利，但前提是它们一开始的非利息收入份额很少。非利息收入的来源不如其水平重要。
Using annual data from Italian banks, we study the link between non-interest revenues and profitability. We find that income diversification increases risk-adjusted returns. Our results provide econometric evidence consistent with current studies on EU banks, but do not support findings on the U. S. experience. In our view, the differences depend primarily on the relative importance of local banks: we find that the relation is stronger at large banks. In addition, we find that there are limits to diversification gains as banks get larger. Small banks can make gains from increasing non-interest income, but only when they have very little non-interest income share to start with. The source of non-interest income is less important than its level.