تعیین مقدار بهینه قدرت بازار برای حداکثر سازی عملکرد صنعت بانکداری

نوع مقاله : مقاله پژوهشی

نویسندگان

1 دانشجوی دکتری اقتصاد دانشگاه فردوسی مشهد

2 استاد اقتصاد دانشگاه فردوسی مشهد

چکیده

هدف این مقاله، مطالعه مقدار بهینه قدرت بازار بانکداری برای حداکثر­سازی عملکرد آن می­باشد. برای این منظور با استفاده از آمارهای 170 کشور طی سال­های 2017-1995 به صورت ترکیبی از مدل گشتاورهای تعمیم­یافته سیستمی دو­مرحله­ای (Two-Step System GMM) برای آزمون و تخمین رابطه بین متغیرها استفاده شده است. پس از بررسی ایستایی متغیرها و روابط هم­انباشتگی مدل­ها، میزان اثرگذاری هر کدام از متغیرها بر شاخص­های عملکرد، مدل­ها تخمین و مورد بررسی قرار گرفتند.
نتایج مطالعه نشان می­دهد فرضیه­های ساختار-رفتار-عملکرد ((SCP و ساختارکارآ (ES) تایید می­شوند و فرضیه قدرت نسبی بازار RMP)) رد می­شود. یک رابطه U وارون بین تمرکز و سودآوری بدست آمد که تا سطح آستانه 164/0 برای شاخص لرنر، با افزایش تمرکز، سودآوری افزایش و بعد از آن کاهش می­یابد  و رابطه بین تمرکز و کارایی، U شکل است که بعد از سطح آستانه 25/0 برای شاخص لرنر، کارایی افزایش می­یابد. لحاظ کردن کیفیت نهادی باعث می­شود تا رابطه بین تمرکز و سودآوری به صورت U شود. لذا کیفیت نهادی باعث تعدیل اثرات نامطلوب قدرت بازار بر سودآوری می­شود. همچنین لحاظ کردن کیفیت نهادی باعث می­شود تا رابطه بین تمرکز و کارایی به صورت U وارون گردد.  به این معنی که در محیط با کیفیت نهادی پایین، قدرت بازار باعث ناکارایی و فرضیه زندگی آرام تایید می­شود و در محیط نهادی با کیفیت بالا، قدرت بازار باعث کارایی بیشتر و فرضیه زندگی آرام رد می­شود.  

کلیدواژه‌ها

موضوعات


عنوان مقاله [English]

Determining the Optimal Amount of Market Power to Maximize the Performance of the Banking Industry

نویسندگان [English]

  • Hassan Rezaei 1
  • Mohammad Reza Lotf Alipour 2
  • Mohammad Ali Falahi 2
1 Ph.D. Student of Economics, Ferdowsi University, Mashhad, Iran. h.rezaeiii@yahoo.com
2 Professor of Ferdowsi University, Mashhad, Iran
چکیده [English]

The purpose of this paper is to study the factors inside and outside the banking industry on its performance. For this purpose, using the statistics of 170 countries during the years 1995-2017. The paper’s data analysis is System Generalized Method of Moments (System GMM) approach. After examining the static variability of the variables, the correlational relationships of the models are examined and the results indicate the existence of long-run equilibrium relations between the variables. In order to study the effect of each of the variables on performance indicators, the estimation model was studied and examined. The results of the study show that the structure-behavior-performance hypotheses (SCP) and efficient structure (ES) are confirmed and the relative market power hypothesis (RMP) are rejected. An inverse U-shaped relationship was found between concentration and profitability, which increased to a threshold level of 0.164 for the Lerner index, with increasing concentration, profitability increasing and then decreasing, and the relationship between concentration and performance being the U-shaped curve after the level. A threshold of 0.25 for the Lerner index increases performance.
Considering institutional quality makes the relationship between concentration and profitability U-shaped. Therefore, institutional quality moderates the adverse effects of market power on profitability. Also, considering institutional quality causes the relationship between concentration and efficiency to be inverted U-shaped. This means that in a low-quality institutional environment, market power leads to inefficiency and the hypothesis of a quiet life is confirmed, and in a high-quality institutional environment, market power leads to greater efficiency and the hypothesis of a quiet life is rejected

کلیدواژه‌ها [English]

  • Market structure
  • banking performance
  • Institutional Quality
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