Business expansion and firm efficiency in the commercial banking industry: Evidence from the US and China
Business expansion and firm efficiency in the commercial banking industry: Evidence from the US and China
复制标题
商业银行业的业务扩张和公司效率：来自美国和中国的证据
DOI：
10.1007/s10490-015-9408-1
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发表时间：
2015
影响因子：
5.4
通讯作者：
Shou Zhigang
中科院分区：
文献类型：
--
作者：
Wang Feng;Huang Minxue;Shou Zhigang
尽管人们普遍认为业务扩张会提高公司效率，但现有文献却忽略了业务扩张与公司效率之间的确切关系。本研究利用美国和中国银行业的二手数据，探讨了探索性扩张（即投资公司现有业务范围之外的新业务）和利用性扩张（即扩大现有业务的目标市场）的两种效率——盈利能力和适销性。实证结果表明，探索性扩张会降低盈利能力，但会增加适销性。同时，剥削性扩张对盈利能力没有显着影响，但可以增加适销性。此外，研究表明，中国银行可能从探索性扩张中获益更多，而美国银行则可能从剥削性扩张中获益。
Despite a consensus that business expansion drives firm effectiveness, extant literature has neglected the exact relationship between business expansion and firm efficiency. Using secondary data from the US and Chinese banking industries, this study explores two efficiencies of exploratory expansion (i.e., investing in new business, outside the scope of the firm’s existing business) and exploitative expansion (i.e., expanding target markets in the existing business)—profitability and marketability. The empirical results reveal that exploratory expansion decreases profitability but increases marketability. Meanwhile, exploitative expansion has no significant effect on profitability, but it can increase marketability. Furthermore, the study reveals that Chinese banks are likely to benefit more from exploratory expansion, whereas US banks would benefit from exploitative expansion.