Measuring Competition In Financial Markets
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Measuring Competition In Financial Markets
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Author : Michiel van Leuvensteijn
language : en
Publisher:
Release Date : 2009
Measuring Competition In Financial Markets written by Michiel van Leuvensteijn and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
A New Measure Of Competition In The Financial Industry
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Author : Jacob Bikker
language : en
Publisher: Routledge
Release Date : 2014-08-27
A New Measure Of Competition In The Financial Industry written by Jacob Bikker and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-08-27 with Business & Economics categories.
The 2008 credit crisis started with the failure of one large bank: Lehman Brothers. Since then the focus of both politicians and regulators has been on stabilising the economy and preventing future financial instability. At this juncture, we are at the last stage of future-proofing the financial sector by raising capital requirements and tightening financial regulation. Now the policy agenda needs to concentrate on transforming the banking sector into an engine for growth. Reviving competition in the banking sector after the state interventions of the past years is a key step in this process. This book introduces and explains a relatively new concept in competition measurement: the performance-conduct-structure (PCS) indicator. The key idea behind this measure is that a firm’s efficiency is more highly rewarded in terms of market share and profit, the stronger competitive pressure is. The book begins by explaining the financial market’s fundamental obstacles to competition presenting a brief survey of the complex relationship between financial stability and competition. The theoretical contributions of Hay and Liu and Boone provide the theoretical underpinning for the PCS indicator, while its application to banking and insurance illustrates its empirical qualities. Finally, this book presents a systematic comparison between the results of this approach and (all) existing methods as applied to 46 countries, over the same sample period. This book presents a comprehensive overview of the knowns and unknowns of financial sector competition for commercial and central bankers, policy-makers, supervisors and academics alike.
A New Approach To Measuring Competition In The Loan Markets Of The Euro Area
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Author : Michiel van Leuvensteijn
language : en
Publisher:
Release Date : 2007
A New Approach To Measuring Competition In The Loan Markets Of The Euro Area written by Michiel van Leuvensteijn and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Bank loans categories.
This paper is the first that applies a new measure of competition, the Boone indicator, to the banking industry. This approach is able to measure competition of bank market segments, such asthe loan market, where as many well-known measures of competition can consider the entire banking market only. A caveat of the Boone-indicator may be that it assumes that banks generally pass on at least part of their efficiency gains to their clients. Like most other model-basedmeasures, this approach ignores differences in bank product quality and design, as well as the attractiveness of innovations. We measure competition on the lending markets in the five major EU countries as well as, for comparison, the UK, the US and Japan. Bearing the mentioned caveats in mind, our findings indicate that over the period 1994-2004 the US had the most competitive loan market, whereas overall loan markets in Germany and Spain were among the best competitive in the EU. The Netherlands occupied a more intermediate position, whereas in Italy competition declined significantly over time. The French, Japanese and UK loan markets were generally less competitive. Turning to competition among specific types of banks, commercial banks tend to be more competitive, particularly in Germany and the US, than savings and cooperative bank.
Handbook Of Competition In Banking And Finance
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Author : Jacob A. Bikker
language : en
Publisher: Edward Elgar Publishing
Release Date : 2017-09-29
Handbook Of Competition In Banking And Finance written by Jacob A. Bikker and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-29 with categories.
For academics, regulators and policymaker alike, it is crucial to measure financial sector competition by means of reliable, well-established methods. However, this is easier said than done. The goal of this Handbook is to provide a collection of state-of-the-art chapters to address this issue. The book consists of four parts, the first of which discusses the characteristics of various measures of financial sector competition. The second part includes several empirical studies on the level of, and trends in, competition across countries. The third part deals with the spillovers of market power to other sectors and the economy as a whole. Finally, the fourth part considers competition in banking submarkets and subsectors.
A New Approach To Measuring Competition In The Loan Markets Of The Euro Area
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Author : Jacob A. Bikker
language : en
Publisher:
Release Date : 2007
A New Approach To Measuring Competition In The Loan Markets Of The Euro Area written by Jacob A. Bikker and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
International Competitiveness In Financial Services
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Author : Marvin H. Kosters
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
International Competitiveness In Financial Services written by Marvin H. Kosters and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
financial markets suggests that factors such as differences in capital requirements, limi tations on size or on the range of financial activities in which firms can engage, govern ment guarantee arrangements for deposits or payments, and reporting or disclosure requirements can have important effects on the efficiency of industrial and commercial firms and thus on the international competitive positions of major sectors of the U.S. economy. Regulatory and tax policies must therefore take into account effects on inter national competitive positions in addition to domestic concerns. The articles in this issue analyze differences in market organization and regulation across countries and examine how efficiency in producing financial services is influenced by these differences. These articles were presented and discussed at a conference sponsored by the Amer ican Enterprise Institute in Washington, D.C., on May 31 and June 1, 1990. This confer ence on International Competitiveness in Financial Services brought to the attention of Washington policy officials these analyses by leading scholars in finance. Publication of these studies and critiques in the Journal of Financial Services Research is intended to stimulate further interest in research on these important issues.
Competition And Regulation In Financial Markets
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Author : Albert Verheirstraeten
language : en
Publisher: Springer
Release Date : 1981-06-18
Competition And Regulation In Financial Markets written by Albert Verheirstraeten and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981-06-18 with Business & Economics categories.
Financial Dependence Banking Sector Competition And Economic Growth
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Author : Stijn Claessens
language : en
Publisher: World Bank Publications
Release Date : 2005
Financial Dependence Banking Sector Competition And Economic Growth written by Stijn Claessens and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Banks and banking categories.
"The relationships among competition in the financial sector, access of firms to external financing, and associated economic growth are ambiguous in theory. Moreover, measuring competition in the financial sector can be complex. In this paper Claessens and Laeven first estimate for 16 countries a measure of banking system competition based on industrial organization theory. They then relate this competition measure to growth of industries and find that greater competition in countries' banking systems allows financially dependent industries to grow faster. These results are robust under a variety of tests. The results suggest that the degree of competition is an important aspect of financial sector funding. This paper--a product of the Financial Sector Operations and Policy Department--is part of a larger effort in the department to study competition in banking"--World Bank web site.
Thoughts On Entry Regulation Financial Market Competition And Financial Crisis
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Author : Sven Lilienthal
language : en
Publisher: GRIN Verlag
Release Date : 2009-03-24
Thoughts On Entry Regulation Financial Market Competition And Financial Crisis written by Sven Lilienthal and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-03-24 with Political Science categories.
Seminar paper from the year 2009 in the subject Business economics - Economic Policy, grade: 1,0, University of Frankfurt (Main), course: Financial Regulation, language: English, abstract: This paper deals with the terms entry regulation, financial market competition and also indicates connections to potential financial crises. Authors in research have been attempting for years to build up a remedy for an optimal set-up.1 So, this is the reason I observe a seemingly never-ending discussion between two unofficial parties: Neither the proponents of the concentration-stability view, neither those of the concentration-fragility view will retreat from how to install proper competition in order to ensure stability. This paper also aims to understand the terms of both parties; their arguments and whether either monopolistic structures or competition are desirable in the financial industry. Therefore, I lay the theoretical foundation. I demonstrate with a model of the authors Boyd & De Nicoló that even economies with monopolistic structure are exposed to risk-taking activities – and not only banks in competitive industries. In chapter 3, I turn to the topic “Entry Regulation”. I unveil different yardsticks of entry regulation, reveal some advantages and draw up my own index. I show that mainly countries that suffered devastating crises in recent times have stringent entry regulation. This can be shown by regarding their high capital requirements or their barriers for submitting information of managers, future plans or composition of shareholders. I also show that entry regulation is an appropriate means for governments to control or to curb competition. In the last chapter, it is also shown that high entry capital requirements prevent mainly weak or inefficient banks from entry. In chapter 4, I present two ratios for assessing competition: The concentration ratio (CR) and H-Statistics (H). CR is widely used in literature and defines the market share of the largest banks in a country. By presenting CR, I also turn back to the argument between the concentration-stability and concentration-fragility views. Moreover, I do my part to debilitate the somewhat misleading statement that the European banking market is in a phase of consolidation and concentration. I do this by revealing that the concentration ratio slightly decreased in a time span of four years during the current decade. H-Statistics is a ratio to find out more about the ferocity and contestability of a market and how market participants react to changes in output prices. I show that there is, maybe surprisingly, no strict correlation between CR and H-Statistics. [...]
Financial Strategies In Competitive Markets
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Author : Hasan Dinçer
language : en
Publisher: Springer Nature
Release Date : 2021-04-13
Financial Strategies In Competitive Markets written by Hasan Dinçer and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-04-13 with Business & Economics categories.
As globalization continues to rapidly evolve, economic borders between countries have practically disappeared. One effect is that nowadays companies can access new markets by investing in other countries. This offers an important advantage especially for international and large-scale companies. However, one result is the increased market competition. Small-scale local firms and SMEs have to compete with international firms and corporations that have significantly more resources. This competitive environment jeopardizes the sustainability of the smaller companies, which often are driven out of business by the more powerful global players. This book discusses financial strategies for small and middle size companies to increase their competitiveness in the global markets.