文獻翻譯-----美國小型和大型商業(yè)銀行的利潤效率來源及差異-免費閱讀
【正文】 大型銀行主要是通過使用更多的杠桿來實現(xiàn)高的利潤效率，這是因為其他變量都是沒有意義的。此外，對其他大部分的相關系數(shù)的研究與 Akhigbe and McNulty (2020)的研究結果是一致的。對此最可能的解釋是，幾乎所有大型銀行都依賴費用收入，而不是說費用收入對這些銀行不重要。 中小銀行的不良市場貸款率（ MKTNPL）是顯著的，與預期的一樣是負的，但是實際上對于大銀行來說是正的。 利潤效率的回歸 的相關性分析結果 如前所訴，我們考慮相關的意義之間差異的大小作為一組相關指示，不同規(guī)模的銀行有不同的方式來實現(xiàn)高盈利的能力。 DeYoung 和 Hasan（ 1998）表明，從頭銀行的利潤效率比老的，相同規(guī)模的銀行的利潤效率少得多。這個程序允許利潤效率措施有最大的靈活性 —— 小銀行的利潤效率不受大銀行的活動和資產負債表結構的任何約束或影響，反之亦然。第二個則是利用一個或者幾個前沿領域比較不同規(guī)模的銀行。 近期的利潤效率研究包括 Altunbas,Evans,和 Molyneux(2020),Akhigbe和 McNulty(2020),Berger 和 Mester(1997,2020)DeYoung 和 Hasan(1998)和DeYoung和 Nolle(1996)等?？紤]到差異以及來源，銀行規(guī)模組的盈利效率可以幫助解決銀行更有效的使用他們的資本的這個問題（提供的利潤歸一股權，這是我們在本文采取的方法）。本科畢業(yè)論文外文翻譯 外文題目： Profit efficiency sources and differences among small and Large mercial banks 出 處： Journal of economic and finance (2020):289299 作 者： Aigbe Akhigbe and James McNulty 原 文： Introduction Scale economies in banking have long been of interest to financial economists, and this interest has been heightened in recent years by two developments. The first is increased concern about the survivability of small munity banks in an era of bank consolidation. This theme was the subject of a March 2020 conference at the Federal Reserve Bank of Chicago and formed the basis for a special March 2020 issue of the Journal of Financial Services Research. The second development is recent academic research suggesting that small banks may have both an information advantage over large banks, as in Nakamura (1993), Mester, Nakamura, and Renault (2020), and Carter and McNulty (2020), and an incentive to use this information advantage in the lending process. Berger et al. (2020) provide evidence on the second point. They suggest that small banks may have a parative advantage in developing and using the “soft” information often associated with small business lending. PROFEFF is an econometric financial performance measure that indicates how actual financial performance pares to a theoretical bestpractice frontier. Considering differences in, and sources of, profit efficiency (PROFEFF) by bank size groups can help shed light on the issue of which banks use their capital more efficiently (provided profits are normalized by equity, which is the approach we take in this paper). Relevant Literature and Estimation Issues Most studies done in the 1980s and early 1990s suggest that scale economies are slight or nonexistent beyond asset sizes of $50 to $100 million. Some early examples are Benston, Hanweck, and Humphrey (1982), Gilligan, Smirlock, and Marshall (1984), Clark (1984), Nelson (1985), and Berger, Hanweck, and Humphrey (1987). Using 1984 data, Berger and Humphrey (1991) find that economies of scale at the firm level are exhausted beyond $200 million in asset size. Since this influential study, which found that gains from reducing cost inefficiencies dominate gains from realizing scale economies, the focus of most studies has shifted to inefficiencies and hence away from optimum size. However, using cost efficiency, Berger and Mester (1997) conclude that scale economies are exhausted well before $10 billion in asset size. Since these studies estimate cost economies, they cannot directly address the possibility that revenues may be more than proportionately higher for larger banks. However, another related trend in this literature has been increased recognition th
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