Title Efficiency determinants and regulatory impact on banking operations in the EU Title (english) Determinante efikasnosti i utjecaj regulacije na poslovanje banaka u EU Author Ivan Gržeta Mentor Saša Žiković (mentor)Committee member Mario Pečarić (predsjednik povjerenstva)Committee member Košak Marko (član povjerenstva)Committee member Anita Pavković (član povjerenstva)Granter University of Rijeka Defense date and country 2019-11-25, Croatia Scientific / art field, SOCIAL SCIENCES Universal decimal classificationUDC ) 336 - Finance. Banking. Money Abstract Regulacija i supervizija nad bankama omogućuje stabilan i siguran bankovni sustav s ciljem izbjegavanja negativnih učinaka koje propast banaka može imati na cjelokupnu ekonomiju. Utjecaj bankarskog regulatornog okvira na poslovanje banaka često je u fokusu istraživača, te je stoga široko istraživana tema obzirom na to da njegove dorade i promjene imaju značajne implikacije na poslovanje kako individualnih banaka, tako i cjelokupne ekonomije. Posljednji regulatorni okvir uveden na globalnoj
... More razini u obliku Basela 3 i njegova provedba u zakonodavstvo zemalja članica Europske Unije probudio je interes u identificiranju determinanti efikasnosti, kao i u analizi utjecaja regulacije na poslovanje banaka, odnosno utjecaja na njihovu efikasnost i profitabilnost. Cilj ove doktorske disertacije je pokazati kako se, ovisno o veličini, relativne efikasnosti komercijalnih banaka razlikuju u zemljama Europske Unije, te analizirati utjecaj zadnjeg regulatornog okvira na efikasnost i profitabilnost komercijalnih banaka u Europskoj Uniji (EU28). Analiza je provedena na uzorku od 433 komercijalne banke iz svih europskih zemalja, kroz vremenski period od 2006. do 2015. godine. Utjecaj novog regulatornog okvira na bankarski sektor (implementacija Basela u zakonodavstvo Europske Unije) je analiziran u 2 faze. U prvoj fazi se proveo izračun relativne efikasnosti temeljem neparametarske metode analize omeđivanja podataka (eng. Data Envelopment Analysis). Obzirom na to da većina ekonomskih varijabli pokazuje dinamično ponašanje, u drugoj fazi se analizirao utjecaj regulacije na poslovanje banaka korištenjem dinamičke panel analize (eng. dynamic panel data). Rezultati analize relativne efikasnosti pokazuju da se relativna efikasnost znatno razlikuje među zemljama Europske Unije, te da su značajne razlike vidljive i u relativnoj efikasnosti banaka ovisno o njihovim veličinama. Analiza utjecaja regulacije na poslovanje banaka pokazuje zanimljive rezultate. Naime, regulacija negativno utječe na relativnu efikasnosti svih banaka, neovisno o njihovim veličinama, no s druge strane, regulacija nema signifikantnog utjecaja na profitabilnost velikih i srednjih banaka, dok je utjecaj na profitabilnost malih banaka negativan i signifikantan. Takvi rezultati upućuju na zaključak da su se velike i srednje banke uspješno prilagodile novom regulatornom okruženju, jer iako im je smanjena efikasnost, negativan utjecaj na njihovu profitabilnost je izostao. Male banke, uz pad svoje efikasnosti, trpe i pad profitabilnosti što može voditi prema njihovom daljnjem zatvaranju ili pripajanju većim bankama. Takav trend je zabrinjavajući obzirom na to da dovodi do veće koncentracije bankovnog sektora. Ova doktorska disertacija doprinosi postojećoj literaturi vezano uz utjecaj regulacije na relativnu efikasnost i profitabilnost banaka, te doprinosi zaključku
IV
da se regulacija ne smije bazirati na jednakom pristupu prema svim bankama, odnosno da se treba napraviti razlika između malih i velikih banaka prilikom kreiranja novog regulatornog okruženja. Less Abstract (english) Strong banking regulation and supervision creates a stable and secure banking environment with the aim of avoiding the negative effects that bank failure can have on the overall economy. However, the impact of the banking regulatory framework remains a much- researched topic since its refinements and changes have significant implications on the operations of individual banks. The latest regulatory framework introduced globally in the form of Basel 3 and its implementation into the
... More legislation of EU Member States has aroused interest in identifying the determinants of efficiency, as well as in analysing the impact of regulation on banks' operations, i.e. its impact on their efficiency and profitability. The aim of this doctoral dissertation is to show how, depending on size, the relative efficiencies of commercial banks differ across EU countries, and to analyse the impact of the latest regulatory framework on the efficiency and profitability of commercial banks in the European Union (EU28). The analysis was conducted on the basis of 433 commercial banks from all European countries, over the period from 2006 until 2015. The impact of the new regulatory framework on the banking industry (Basel implementation in EU legislation) was conducted in 2-stage analysis. In the first stage, the relative efficiency was calculated based on the widely used non-parametric Data Envelopment Analysis method. Since most economic variables exhibit dynamic behaviour, the second phase, or the impact of regulation on banks' operations, is performed using dynamic panel data. The results of the analysis of relative efficiency show that relative efficiencies differ significantly among the countries of the European Union, and that significant differences are also visible in the relative efficiencies of banks depending on their size. An analysis of the impact of regulation on bank operations shows interesting results. Namely, regulation negatively affects the efficiency of all banks, regardless of their size, has no significant impact on the profitability of large and medium-sized banks, while the impact on the profitability of small banks is negative and significant. Such results suggest that large and medium-sized banks have skilfully adapted to the new regulatory environment because, although their efficiency has been deteriorated, the impact on their profitability is absent. Small banks, on the other hand, suffer from a decline in their efficiency, as well as a decline in profitability, which can certainly lead to their closure or merger with larger banks. Such a trend is worrying as it leads to greater concentration of the banking sector. This doctoral dissertation contributes to the existing literature in terms of the impact of regulation on the relative efficiency and profitability of banks, and contributes to the conclusion that regulation should not be implemented in same way to all banks,
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that is, a distinction should be made between small and large banks when introducing new regulatory environment. Less Keywords
Europska unija
regulacija i supervizija banaka
profitabilnost banaka
efikasnost banaka
Keywords (english)
European Union
bank regulation and supervision
bank profitability
bank efficiency
Language croatian URN:NBN urn:nbn:hr:192:489366 Study programme Title: Economics and Business Economics Type of resource Text File origin Born digital Access conditions Open access Terms of use Created on 2020-03-11 14:41:52
