【正文】 00 (28) 14 (23) 235 (10) The EQAS COST LOFUND SIZE ASSGDP MACPASS MACGDP INF GDPGR CONC Netherlands 1 (30) 74 (921) 5 (55) 46 (103203.8604) 7 (11) (7) (7) 71 (81) 71 (30) 986 (30) Portugal 6 (57) 27 (134) 6 (88) 7 (45) 2 (15) (0) (3) 43 (60) 29 (94) 57 (93) Spain 20 (28) 21 (361) 6 (86) 59 (256) 4 (43) (8) (8) 86 (16) 43 (54) 065 (02) Sweden 3 (22) 43 (667) 56 (575) 29 (600) 1 (11) (3) (1) 43 (16) 71 (79) 900 (91) UK 85 (06) 15 (507) 7 (84) 63 (215) 1 (09) (7) (4) 43 (61) 14 (61) 943 (75) All financial and ownership data of individual banks as well as information concerning market concentration were drawn from Bankscope Database of Bureau van Dijk39。s total assets, the cost to ine ratio, the ratio of equity to assets and the ratio of bank39。s specific characteristics and the overall banking environment affect the profitability of mercial domestic and foreign banks operating in the 15 EU countries over the period 1995–2021. The results indicate that profitability of both domestic and foreign banks is affected not only by bank39。 6 結(jié)語 在最近幾年中，許多因素加劇了歐盟銀行業(yè)的競(jìng)爭(zhēng)，尤其是銀行的操作環(huán)境的急速變化給銀行帶來了巨大的挑戰(zhàn)。因此，在歐盟的商業(yè)銀行應(yīng)采取必要的行動(dòng)，以實(shí)現(xiàn)更有效的成本控制，以進(jìn)一步增加他們的利潤(rùn)。這個(gè)模型的解釋力對(duì)國(guó)內(nèi)銀行是更高的 (調(diào)整 R2 國(guó)內(nèi)銀行等于 ，而外資銀行等于),而 f 統(tǒng)計(jì)所有模型的重要性在 1%的水平。 4 數(shù)據(jù)和方法 我們的示例是一個(gè)平衡面板數(shù)據(jù)集，由在 15 個(gè)歐盟國(guó)家的 584 家商業(yè)銀行從 1995 2021 年期間的 4088 組數(shù)據(jù)組合而成。 3 決定因素和變量選擇 3． 1 因變量 本研究使用平均資產(chǎn)回報(bào)率 (ROAA)來評(píng)估銀行的性能。 在環(huán)境快速變化的情況下，這些變化給在歐盟的銀行帶來很大的挑戰(zhàn)，因此影響了他們的效能。除了在集中情況下國(guó)內(nèi)銀行利潤(rùn) , 所有的變量都是有重大意義的，盡管它們的影響和關(guān)系對(duì)國(guó)內(nèi)和國(guó)外銀行并不總是相同。這個(gè)指令為所有歐洲銀行機(jī)構(gòu)在單一歐洲金融市場(chǎng)和提供了平等的競(jìng)爭(zhēng)條件，因此銀行正在先前無法預(yù)料的國(guó)內(nèi)外競(jìng)爭(zhēng)之中。 2 文獻(xiàn)綜述 參考文獻(xiàn)與本文可分為三大類。平均資產(chǎn)是用來在會(huì)計(jì)年度中發(fā)現(xiàn)發(fā)現(xiàn)資產(chǎn)上的任何差異。第一列體現(xiàn)了把所有的銀行 (584)同時(shí)考慮的結(jié)果。 由比較高的顯著系數(shù)的股權(quán)資產(chǎn)（ EQAS）和成本收入比（ COST）顯示，在一般情況下，平均資產(chǎn)回報(bào)率的主要決定因素是資本實(shí)力及費(fèi)用管理效率。客戶的凈貸款及短期資金比率（ LOFUND）在統(tǒng) 計(jì)上顯著，并與國(guó)內(nèi)銀行的盈利能力呈正相關(guān)，表明銀行流動(dòng)性資產(chǎn)持有量水平和盈利能力水平呈負(fù)相關(guān)關(guān)系，與預(yù)料的一樣。銀行的效率和經(jīng)濟(jì)增長(zhǎng)之間的關(guān)系是有據(jù)可查的。 Profitability 1. Introduction Over the last years a number of factors have contributed to the growing petition in the European Union (EU) banking sector. One of the most important factors is deregulation, promoted by the Second European Directive on Banking and Financial services, concerning establishment, operation and supervision of credit institutions. This Directive sets out the principles of banking in the Single European financial market and provides equal petitive conditions for all European banking institutions. As a result banks now pete in previously inaccessible domestic and foreign markets. Furthermore, a number of recent technological advances offered more opportunities for economies of scale and scope while the adoption of euro accelerated the changes in the industry. For instance, ine generation from foreign exchange transactions has been lost while the pricing of banking products and services has bee more transparent, enhancing petition. Furthermore, the macroeconomic policies that were followed in most countries gradually reduced inflation and interest rates. Finally, in more and more European countries nonfinancial firms were allowed to offer traditional banking services, leading to further increase in petition. Therefore, banks were forced to generate new products and seek new customers. This is reflected in the continued diversification across geographical areas and business lines. Many banks have been forced to increase in size in order to pete in the enlarged European market and the banking industry experienced an unprecedented level of consolidation through mergers and acquisitions. It is reasonable to assume that all these changes posed great challenges to banks in the EU as the environment in which they operated changed rapidly, a fact that consequently had an impact on their performance. As Golin (2021) points out adequate earnings are required in order for banks to maintain solvency, to survive, grow and prosper in a suitable environment. Given the relation between the wellbeing of the banking sector and the growth of the economy (Rajan and Zingales, 1998, Levine, 1997 and Levine, 1998), knowledge of the underlying factors that influence banks’ profitability is essential not only for the managers of the banks but for numerous stakeholders such as the Central Banks, Bankers Associations, Governments, and other Financial Authorities. Knowledge of these factors would also be of particular interest to the new EU countries whose economies and banking systems are experiencing fundamental changes during this period. The aim of this paper is to extent earlier work on the determinants of profitability of banks in the EU and examine to what extent the performance of mercial banks operating in EU markets is influenced by internal factors (. banks’ specific characteristics) and to what extent by external factors (. macroeconomic and financial market structure) in view of the ongoing process of integration and concentration. Although a growing literature uses efficient frontier approaches to examine the profit and cost efficiency of EU banks (., Altunbas et al., 2021 and Schure et al., 2021), to our best knowledge, there are only few studies that focus on the determinants of profitability while focusing on the EU as a total1 (., Molyneux and Thorton, 1992 and Staikouras and Wood, 2021). Molyneux and Thorton (1992) were the first that examined the determinants of banks profitability operating in 18 European countries over the period 1986–1989. Most recently the European banking sector was examined by Staikouras and Wood (2021) that considered banks from 13 EU countries over the period 1994