收益多角化對銀行是光明面還是黑暗面？全球實證

本文以2001年至2008年全球商業銀行為研究對象，探討銀行收益多角化與風險的關係。我們利用新的銀行財務數據資料，並進一步依據不同國家所得、地區與國家治理特性，以檢視銀行收益多角化對於銀行風險是符合「多角化光明面假說」或者「多角化黑暗面假說」。實證結果顯示：第一、在全體樣本或高所得、歐美地區國家的銀行，其收益多角化策略可以有效降低銀行風險，符合「多角化光明面假說」。相反地，中低所得國家收益多角化卻提高銀行破產風險及倒閉危機，符合「多角化黑暗面假說」。第二，若非利息收入比例超過最適值時，則不管所得或地區因素，隨著非利息收入比率增加都會增加獲利的不確定性或倒閉機率。第三，在探討國家特定變數，發現高所得國家可改善銀行收益多角化與風險的關係，但中低所得國家反而是惡化兩者間的關係。而非洲及中東地區亦不利於銀行收益多角化對風險的關係。最後，在國家治理方面，一個國家的法規制度及官僚體系環境愈好，將有助於改善銀行收益多角化與風險的關係。但債權人權利愈健全或銀行跨業經營限制程度愈高，反而惡化收益多角化與銀行風險的關係。

關鍵字

銀行；風險；收益多角化

並列摘要

The paper examines the effects of bank diversification on risk using a global sample from 95 countries. We find evidence that diversification will mitigate the banking risk in high-income countries, European or America region, whereas increase the likelihood of bank failures in median-low-income countries. Second, when banks have relatively excessive non-interest income, they have fewer potential diversification gains. Finally, we also find that a better country's law and bureaucracy will help improve the relationship between bank diversification and risk, but stronger creditor rights' protection and more regulatory restrictions on bank activities will worsen them.

並列關鍵字

Banking ； Diversification ； Risk

參考文獻

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