Deregulation, technological change, and the business-lending performance of large and small banks
Deregulation, technological change, and the business-lending performance of large and small banks
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放松管制、技术变革以及大小银行的商业贷款绩效
DOI：
10.1016/j.jbankfin.2004.05.033
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发表时间：
2005
期刊：
影响因子：
--
通讯作者：
J. Mcnulty
中科院分区：
文献类型：
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作者：
D. Carter;J. Mcnulty
根据DeYoung等人[Journal of Financial Services Research，2004]的研究，放松管制和技术变革将美国银行业分为两个主要的基于规模的群体：非常大的银行，专门利用“硬”信息发放标准化贷款;较小的银行，专门利用“软”信息和关系发展发放非标准化贷款。我们评估了1993-2001年期间小型和大型银行的商业贷款业绩。小银行小企业贷款的特点是关系发展和非标准化贷款。与DeYoung et al.的模型，我们发现，在控制了市场集中度，资金成本，以及各种其他因素，可能会影响收益率，小银行表现优于大银行在小企业贷款市场。然而，大银行似乎在信用卡贷款方面具有优势，这是一个以非个人关系和标准化贷款为特征的市场。有趣的是，我们发现有证据表明，大型银行一直在进军最小企业贷款市场，这一结果与大型银行使用信用评分来发放非常小的企业贷款一致[Berger等人，《货币、信贷和银行杂志》，2004年。
According to DeYoung et al. [Journal of Financial Services Research, 2004] deregulation and technological change has divided the US banking industry into two primary size-based groups: very large banks, specializing in the use of “hard” information to make standardized loans and smaller banks, specializing in the use of “soft” information and relationship development to make non-standardized loans. We evaluate business-lending performance for small and large banks over the 1993–2001 period. Small business lending by small banks is characterized by relationship development and non-standardized loans. Consistent with DeYoung et al.'s model, we find that, after controlling for market concentration, cost of funds, and a variety of other factors that might influence yields, smaller banks perform better than larger banks in the small business lending market. However, larger banks appear to have the advantage in credit card lending, a market characterized by impersonal relationships and standardized loans. Interestingly, we find evidence that larger banks have been making inroads in the market for the smallest business loans, a result consistent with the use of credit scoring by large banks to make very small business loans [Berger et al., Journal of Money, Credit, and Banking, 2004].