Financial stability, competitiveness and banks' innovation capacity: Evidence from the Global Financial Crisis

被引：22

作者：

Degl'Innocenti, Marta ^{[1
]}

Grant, Kevin ^{[2
]}

Sevic, Aleksandar ^{[3
]}

Tzeremes, Nickolaos G. ^{[4
]}

机构：

[1] Univ Southampton, Southampton Business Sch, Southampton SO17 1BJ, Hants, England

[2] Univ Dundee, Sch Business, Dundee, Scotland

[3] Trinity Coll Dublin, Trinity Business Sch, Dublin 2, Ireland

[4] Univ Thessaly, Dept Econ, Lab Econ Policy & Strateg Planning, 28th October St,78, Volos 38333, Greece

来源：

INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS | 2018年 / 59卷

关键词：

Global Financial Crisis; Financial centres; Innovation capacity; Non-parametric frontier analysis; COST EFFICIENCY; EUROPEAN-UNION; RISK; CENTERS; PERFORMANCE; DIVERSIFICATION; CONVERGENCE; TECHNOLOGY; STRATEGIES; FRANKFURT;

D O I：

10.1016/j.irfa.2018.07.009

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper provides nuanced evidence on the effect of competitiveness and financial stability on banks' innovation-capacity (technological-change) levels during the Global Financial Crisis (GFC) in 2007-2008. We applied contemporary developments in non-parametric frontier analysis, employing a new index, the Global Financial Centres Index, to measure the business competitiveness of 45 financial centres. Our findings indicated a nonlinear and positive relationship between financial centres' competitiveness, banks' stability and innovation-capacity levels. This suggests that banks' ability to increase stability alongside financial centres' stability in a highly competitive environment acts as a protective measure against the GFC's negative effects.

引用

页码：35 / 46

页数：12

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