Financial nexus: Efficiency and soundness in banking and capital markets

被引：20

作者：

Dima, Bogdan ^{[1
]}

Dinca, Marius Sorin ^{[2
]}

Spulbar, Cristi ^{[3
]}

机构：

[1] West Univ, Fac Econ & Business Adm, Timisoara 300115, Romania

[2] Transilvania Univ Brasov, Fac Econ Sci & Business Adm, Brasov 500036, Romania

[3] Craiova Univ, Fac Econ & Business Adm, Craiova 200585, Romania

来源：

JOURNAL OF INTERNATIONAL MONEY AND FINANCE | 2014年 / 47卷

关键词：

Bank concentration; Efficiency and soundness; Z-scores; Lerner index; Arellano and Boyer models; Two-stages quantile regression models; QUANTILE REGRESSION; PANEL-DATA; COMPETITION; INFERENCE; INDUSTRY; COST; RISK;

D O I：

10.1016/j.jimonfin.2014.05.002

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Based on a modified version of the model used in Corvoisier and Gropp (2002) and De Guevara et al. (2005), we argue that banks' soundness, the structural characteristics and efficiency of the banking sector along with the development of the capital markets constitute a financial nexus. For a data set of 63 developed and developing countries, we find evidences that efficiency significantly modulates the linkages between concentration and soundness. We also find that capital markets' development supports a stable evolution in banking sector. For the relationship between capital markets and soundness, our findings appear to be robust for various measures of the considered variables as well as for different estimation techniques. Regarding the impact of the concentration upon soundness, the results obtained display a certain sensitivity about the way concentration is measured. (C) 2014 Elsevier Ltd. All rights reserved.

引用

页码：100 / 124

页数：25

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