外文翻譯--采納網(wǎng)上銀行的影響因素-閱讀頁(yè)
2025-02-01 23:37本頁(yè)面
【正文】 etition. Online banking provides an alternative strategy to the creation of new bank branches, while at the same time it reduces customer transaction costs. At least in the short run, the provision of online banking services is likely to steal customers from petitors that operate in similar geographic areas, where overlapping of their branch network is important. The MMC index accounts for this factor by assigning different weights to banks that coincide in different areas and have a different volume of deposits. In particular, if bank i has branches in the set Mi of markets and we denote as Bs the set of banks that operate in market s, we pute the MMC index as where Djs denotes the sum of deposits of bank j in market s and Ij is an indicator function that takes the value 1 if bank j has adopted online banking in a previous period and 0 Notice that the index excludes the bank for which it is puted. This exclusion avoids some spurious correlation in our estimations originating from the period in which the bank decides to adopt and the corresponding change in multimarket contact. . The Herfindahl–Hirschman index The adoption decision by petitors is not necessarily the only strategic consideration in a bank’s decision to adopt online banking. The literature discussed in the introduction provides substantial evidence showing that adoption depends on the characteristics of the markets in which each bank operates. In addition to demand side considerations that are likely to influence the profitability of online banking (consumer Internet access, education attainment, level of ine, and so on), this profitability is likely to depend also on the level of petition in each market. Some standard theories, for example, suggest that petition spurs innovation as a way to achieve cost reductions or to introduce differentiated products. Table 1Adoption in the period 2003–2006 for different values of the initial 2003 MMC indexIn this paper, we measure petition using the Herfindahl–Hirschman Index (HHI). As opposed to the usual analysis of petition among firms that operate in the same market, different banks have activities in different geographic areas. As a result, the measures of petition also are bankspecific, reflecting the average conditions among all the markets in which each bank operates. For this reason we pute the HHI for bank i as the weighted average of all the HHIs in the local markets where this bank operates. Similar to the MMC index, the weights correspond to the share of total deposits of bank i in each of the markets. In particular, the formula is given by An important concern, however, is that online banking changes the nature of bank petition, making geographic location of bank branches irrelevant. This change should have a limited impact on our results. First, banks of similar size are likely to be exposed to similar increases in petition due to the adoption by other institutions, adding to the constant term of our regressions. Second, as mentioned earlier, customers of small banks (like the ones in our sample) typically place an important value on personalized service, which emphasizes the local ponent.
公司管理相關(guān)推薦
鄂ICP備17016276號(hào)-1