Bank Performance, Risk and Firm Financing (Palgrave - download pdf or read online

By Philip Molyneux

This article includes a range of papers that provide cutting-edge insights into bank functionality, probability and enterprise financing put up predicament that have been offered on the ecu organization of college academics of Banking and Finance convention (otherwise often called the Wolpertinger convention) held at Bangor college, Wales, 2010.

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Indeed, they find that inflation has a positive effect on financial margins. See also Carbó et al. (2009). K. and Schmidt, P. (1977) ‘Formulation and estimation of stochastics frontier production function models’, Journal of Econometrics, 86, 21–37. , Klapper, L. and Turk Ariss, R. (2009) ‘Bank competition and financial stability’, Journal of Financial Services Research, 35(2), 99–118. A. and Haaf, K. (2002) ‘Competition, concentration and their relationship: an empirical analysis of the banking industry’, Journal of Banking and Finance, 26, 2191–14.

3 Empirical approach and statistical sources The analysis of the determinants of market power combines information at firm level and at country level. In the first case, we use the data on the balance sheet and the profit and loss account of banks offered by the BankScope database. In the second case, the information is taken from databases of international bodies such as the International Monetary Fund (IMF), European Central Bank (ECB), etc. 1 The Lerner index and its determinants The analysis of the relationship, on the one hand, between market power and size and, on the other, between market power and financial stability is based on the estimation of two econometric regressions whose dependent variables are market power and financial stability, respectively.

In the case of risk, the results show that the riskiest banks must apply a risk premium, which is reflected in a higher margin and, therefore, in a higher value of the Lerner index. 7 With respect to the macroeconomic control variables, the results indicate that market power is: a) greater in boom times (higher GDP growth rates); b) lower when the rate of inflation is higher; and c) lower in more developed countries, with higher levels of per capita income. On the other hand, the variable stock market capitalization / GDP (which attempts to proxy the elasticity of the demand for loans) presents a nonsignificant coefficient.

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