مشخصات مقاله:
عنوان فارسی مقاله:
بحران مالی، تنوع بانکی و ثبات مالی: کشورهای عضو OECD (سازمان همکاری و توسعه اقتصادی)
عنوان انگلیسی مقاله:
Financial crisis, bank diversification, and financial stability: OECD countries
کلمات کلیدی مقاله:
تنوع بانکی، بحران مالی، ثبات اقتصادی، رابطه غیرخطی، کشورهای عضو OECD
کلمات کلیدی انگلیسی:
Bank diversification – Financial crisis – Financial stability – Nonlinear relationship – OECD countries
مناسب برای رشته های دانشگاهی زیر:
مدیریت
مناسب برای گرایش های دانشگاهی زیر:
مدیریت مالی، مدیریت بحران، بانکداری
وضعیت مقاله انگلیسی و ترجمه:
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فهرست مطالب:
Abstract
Keywords
JEL classification
1. Introduction
2. Bank diversification, financial stability, and financial crisis
3. Research design
3.1. Sample construction
3.2. Empirical models and variable definitions
4. Empirical results
4.1. Multivariate analysis
4.2. Robustness tests
4.2.1. Pooled OLS, random effects, and two-way clustering analysis
4.2.2. Sample composition adjustments and endogeneity
5. Conclusion
References
قسمتی از مقاله انگلیسی:
1. Introduction
With increasing financial liberalization and innovation prior to the global financial crisis, banks eagerly pursued operational diversification. Policymakers and regulators in many countries have deregulated the scope of bank diversification and lowered barriers among commercial and investment banks and security and insurance companies to increase competitiveness in the banking industry. Thus, banks have tended to rely less on traditional interest income and have expanded their business ranges to include other financial sectors. However, the recent global financial crisis raises questions about the benefits of such diversification. The financial community is now arguing for a serious reassessment of the advantages and disadvantages of bank diversification. Regulators and market practitioners claim that excessive bank diversification accelerates the propagation of financial risk, leading to financial crises, and they suggest that policies and laws are needed to regulate excessive bank diversification (Acharya, Hasan, & Saunders, 2006; DeYoung & Roland, 2001). For example, in 2009, the Bank of England considered requiring banks to split their retail and investment banking sectors to reduce and diversify risks.1 In Asia, the Korean government recently imposed sanctions on banks to limit their over-the-counter investments in financial derivatives. Tsai, Lin, and Chen (2015) also argue that in Taiwan, the diversification of banks is not beneficial during a recession.