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2018 | nr 519 Wrocław Conference in Finance: Contemporary Trends and Challenges | 26--39
Tytuł artykułu

Competitiveness and Concentration of the Banking Sector as a Measure of Banks' Credit Ratings

Treść / Zawartość
Warianty tytułu
Konkurencyjność i koncentracja sektora bankowego jako miara credit ratingu banków
Języki publikacji
EN
Abstrakty
EN
The aim of the paper is to verify the impact of the competitiveness of the banking sector and concentration on banks' credit ratings. A literature review was carried out and as a result the following hypothesis was put forward: the bigger the banks from the countries where the banking sector is more concentrated and more competitive, the higher the banks' credit ratings. The analysis was conducted using ordered panel data models on banks' credit ratings with the use of quarterly data on a European banks' sample. Long-term issuer credit ratings given to banks by the three largest credit rating agencies were used as a dependent variable.(original abstract)
Celem artykułu jest weryfikacja wpływu konkurencyjności sektora bankowego i koncentracji na ratingi kredytowe banków. Przygotowano przegląd literatury, w wyniku którego wysunięto następującą hipotezę: im większe banki z krajów, w których sektor bankowy jest bardziej skoncentrowany i bardziej konkurencyjny, tym wyższe ratingi kredytowe banków. Analiza została przeprowadzona przy użyciu uporządkowanych modeli danych panelowych na temat ratingów kredytowych banków z pomocą kwartalnych danych, na próbie banków europejskich. Długoterminowe ratingi kredytowe emitentów nadane bankom przez trzy największe agencje ratingowe zostały użyte jako zmienna zależna.(abstrakt oryginalny)
Twórcy
  • University of Warsaw, Poland
Bibliografia
  • Bellotti T., Matousek R., Stewart C., 2011a, A note comparing support vector machines and ordered choice models' predictions of international banks' rating, Decision Support Systems, vol. 51(3), p. 682-687.
  • Bellotti T., Matousek R., Stewart C., 2011b, Are rating agencies' assignments opaque? Evidence from international banks, Expert Systems with Applications, vol. 38(4), April, p. 4206-4214.
  • Bikker J.A., Haaf K., 2000, Measures of competition and concentration in the banking industry: A review of the literature, Economic and Financial Modelling, no. 9, p. 53-98.
  • Bikker J.A., Spierdijk L., 2007, How Banking Competition Changed over Time, mimeo, De Nederlandsche Bank, Amsterdam, December.
  • Bissoondoyal-Bheenick E., Treepongkaruna S., 2011, An analysis of the determinants of bank ratings: comparison across ratings agencies, Australian Journal of Management, vol. 36(3), p. 405-424.
  • Chodnicka-Jaworska P., 2016, Wpływ wskaźników finansowych na ratingi kredytowe banków z krajów strefy euro, Nauki o Finansach, no. 3, p. 27-37.
  • Claessens S., 2009, Competition in the financial sector: Overview of competition policies, IMF Working Paper, no. WP/09/45.
  • Feri G., Liu L.-G., Stiglitz J., 1999, The procyclical role of rating agencies: Evidence from the East Asian Crisis, Economic Notes, vol. 28(3), p. 335-355.
  • Gutiérrez de Rozas L., 2007, Testing for competition in the Spanish Banking Industry: The Panzar-Rosse Approach Revisited, Banco de España Research Paper, no. WP-0726.
  • Harris M., Opp C.C., Opp M.M., 2015, Bank Capital Requirements in a Competitive Financial System, Stanford Working Papers, https://events.barcelonagse.eu/live/files/798-fir15-opppdf (8.05.2017).
  • Hawkins J., Mihaljek D., 2001, The banking industry in the emerging market economies: competition, consolidation and systemic stability - an overview, BIS Papers, no 4.
  • Hempell H. S., 2002, Testing for competition among German Banks, Economic Research Centre Discussion Paper, no. 04/02.
  • Karminsky A.M., Khromova E., 2016, Extended modelling of banks' credit ratings, Procedia Computer Science, vol. 91, p. 201-210.
  • Kick T., Prieto E., 2013, Bank risk taking and competition: evidence from regional banking markets, Discussion Paper Deutsche Bundesbank, no. 30/2013.
  • Kiseľáková D., Hečková J., Chapčáková A., 2013, Trends of development and factors of competitiveness of banking sector in global economy - empirical study from Slovakia, International Journal of Finance and Accounting, vol. 2(3), p. 138-149.
  • van Loon E., de Haan J., 2015, Location of banks and their credit ratings, Location of banks and their credit ratings, vol. 16 issue 3, p. 220-232.
  • Nakane M.I., 2001, A Test of Competition in Brazilian Banking, Banco Central do Brasil Working Paper, no. 12.
  • Pagratis S., Stringa M., 2007, Modelling bank credit ratings: A reasoned, structured approach to Moody's credit assessment, Working paper, http://www.efmaefm.org/0EFMAMEETINGS/ EFMA ANNUAL MEETINGS/2008-Athens/papers/Pagratis.pdf (8.05.2017).
  • Panzar J.C., Rosse J.N., 1987, Testing for 'Monopoly' Equilibrium, Journal of Industrial Economics, vol. 35, p. 443-56.
  • Poon W.P.H., Firth M., Fung H., 1999, A multivariate analysis of the determinants of Moody's bank financial strength ratings, Journal of International Financial Markets, Institutions and Money, vol. 9(3), p. 267-283.
  • Poon W., Lee J., Gup B.E., 2009, Do solicitations matter in bank credit ratings? Results from a study of 72 countries, Journal of Money, Credit and Banking, vol. 41, p. 285-314.
  • Prasad A., Ghosh S., 2005, Competition in Indian Banking, IMF Working Paper, no. 05/141.
  • Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies.
  • Regulation (EU) No 462/2013 of the European Parliament and of the Council of 21 May 2013 amending Regulation (EC) No 1060/2009 on credit rating agencies.
  • Shen C., Huang Y., Hasan I., 2012, Asymmetric benchmarking in bank credit rating, Journal of International Financial Markets, Institutions & Money, vol. 22, p. 171-193.
  • Wong J., Wong E.T.C., Fong T.P.W., Choi K.F., 2008, Competition in Hong Kong's Banking Sector: A Panzar-Rosse Assessment, [in] Genberg H., Hui C.H., The banking sector in Hong Kong, Palgrave Macmillan UK, p. 17-31.
  • Yildirim H.S., Philippatos G.C., 2007, Restructuring, Consolidation, and Competition in Latin American Banking Markets, Journal of Banking and Finance, no. 31, vol. 3, p. 629-639.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171533533

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