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ID:454575
大小:51.50 KB
页数:6页
时间:2017-08-04
《德国银行资金模式结构和盈利能力的变化【外文翻译】》由会员上传分享,免费在线阅读,更多相关内容在学术论文-天天文库。
1、外文翻译原文GermanbankcapitalmodelstructureandprofitabilityofchangeMaterialSource:R&DManagement34,4,2004Author:LarsNordenandMartinWeberWeinvestigatethefundingmodesofGermanbanksandtheimplicationsforlendingandprofitabilityduring1992–2002.Wefindthatatmanybanks,depos
2、itsfromcustomersdecreaseinrelativetermswhileinterbankliabilitiesincreaseasasourceoffunding.Wecannotdetectanegativeimpactoftherelativedeclineindepositsonlending.Thedecreasingabilityofbankstocollectdepositsandthesubstitutionofdepositsbyinterbankliabilitiesunf
3、avorablyaffectsthenetinterestresultofbanksthatexhibitadepositdeficit,especiallysavingsbanks.Ourfindingsindicateastructurallengtheningoftheintermediationchain,whichhasbroaderimplicationsforthefunctioningandstabilityofthefinancialsystem.Inthispaper,weinvestig
4、atethestructuralchangesinbanks’fundingmodesandtheimplicationsforlendingtocustomersandtheeffectonbankprofitability.OurempiricalevidenceisbasedonamicrodatasetforallGermanbanksthatweobtainfromtheDeutscheBundesbankfortheperiod1992–2002.First,wefindthatgrowthofi
5、nterbankliabilitiesisnegativelyrelatedtothegrowthofdepositsfromcustomersatsavingsbanksandcreditcooperatives.Theeffectisstrongestatsavingsbanks.Thus,weprovideempiricalevidenceforastructuralchangeontheliabilitysideofthesebanks’balancesheets.Thisfindingindicat
6、esanincreasingspecializationofretailandwholesalebanksinthesamesector,anditisconsistentwithanoveralllengtheningoftheintermediationchainandwithfinancialdeepeningoftheeconomy.Banksfacingafundingdeficitbecomenetinterbankborrowers,whileothersthatbenefitfromastab
7、lefundingsurplusbecomenetinterbanklenders.Second,wedonotdetectanegativeimpactoftherelativedeclineindepositsonlendingtocustomers.Instead,lendingslightlygainsinrelativeimportanceovertime.Third,thedecreasingabilityofbankstocollectdepositsfromcustomersandthesub
8、stitutionofdepositsbyinterbankliabilitiesrepresentsoneexplanationforthedecliningnetinterestresultforGermansavingsbanksandotherretailbankswithafundingdeficit.Theimplicationsofouranalysisarefirst,thatthe
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