Výkonnost bank v prostředí nízkých a záporných úrokových sazeb

Hanzlík, Petr

Dissertation thesis Banks' performance in low and negative interest rate environment Author: Mgr. Petr Hanzl'ık Abstract This dissertation consists of four empirical papers that focus on the performance of banks in the low or even negative interest rate environment characteristic for the decade after the global financial crisis of 2007-2009. The first paper focuses on the analysis of a re- lationship between the net interest margin (NIM) of EU banks and market interest rates in a low-interest rate environment while controlling for the impact of market concent- ration by examining a large sample of annual data on 629 banks from EU countries for the 2011-2016 period. The results show a positive concave relationship between NIM and short-term interest rates, deterioration of NIM for all types of banks and a higher market concentration leading to higher NIM. In the second paper, we examine the determinants of NIM of European and US banks in a zero lower bound (ZLB) situation while control- ling for institutional design factors, i.e. difference between capital-based and bank-based financial markets. We analyse a large sample of annual data on 629 European banks and 526 US during the 2011-2016 period confirming that NIM is significantly influenced by the different institutional designs. The third paper deals with...

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