欧盟银行业市场结构、竞争程度和效率

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1、AbstractIntheprocessoftheEUintegration,EuropeanfinancialmarketwasundergreattransformationandSOdidbankingindustry．Thesegmentedfinancialma成etshavebeenintegratedtoapan-Europeanone，inw．hichbankscompetedfiercelyacrosscountries，andM&Aactivitiesledtolessbankingi

2、nstitutionsandlargerconcentration．Ononehand，accordingtothetraditionalindustrialtheory,itwouldprobablydoharmtocompetitionandefficiency；Ontheotherhand，Efficient-StructureHypothesisproposedbyChicagoschoolimpliesthatsurvivalpressureforcedbankstoimprovetheiref

3、ficiency,andboostedM&Aactivities．11圮two—wayeffectsexistsidebYsideandhencecausetwocontradictoryexplanationsabouttherelationshipbetweenconcentration,competitionandbankingefficiency．Besides，NewEmpiricalIndustrialOrganizationmethod(NEIO)introducedH-statistics

4、todescribecompetitiondegree，basedonthetheoryofContestableMarket．Alltheseindustrialorganizationtheoriesandmethodologiesexplainedtherelationshipbetweenconcentration,competitionandefficiencyInordertorevealtherelationshipbetweenthethreevariablesduringtheinteg

5、rationprocessofEUbankingindustry,thepaper,basedonthebank-levelfinancialstatementdata,measuresthecompetitiondegreeofEUbankingindustrybybotllstructuralindexes(concentrationratioandHHI)andnon-structuralindexes(H-statistics)，theefficiencybyDEAmethod，andinspec

6、tstherelationshipbetweentheconcentration，competitionandefficiencyofEUbankingindustryusingeconometricmethodologiesofcorrelationanalysisandlinearregression．neempiricalanalysisresultdistinctlysupportsneithertraditionalindustrialtheorynorEfficient-StructureHy

7、pothesisproposedbyChicagoSch001．Instead，itsuggeststhatthenon·structuralindexesintroducedbyNEIOcandecentlymeasurethecompetitiondegreeofEUbankingindustry,andmeanwhileispositivelycorrelatedwithbankingefficiency．11heresultsofcorrelationanalysisandlinearregres

8、sionimpliesthat,amongseveralexplanatoryvariablestllalmayinfluencetheDEAefficiencyofEUbankingindustry,H—statisticsCanpartlyexplainthedistinctionofefficiencyduringdifferenttimeperiod．Thefiercerthecompetitionis，themore