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Bank regulatory standards and supervision: The impact on the of banks' efficiency
Kufnerová, Andrea ; Fišerová, Tereza (advisor) ; Havránková, Zuzana (referee)
This thesis examines the bank efficiency and the impact of the regulatory and supervisory instruments on the efficiency of banks actively performing on the financial markets in the countries of European Union. Our analysis concerns 8-year time period, covering also the period of global financial crisis with the aim to determine possible changes in the relationship regulation versus efficiency. We apply SFA Fourier-flexible model for estimation of profit and cost efficiency scores. Consequently we use GLS panel data estimation in order to test for the regulatory determinants of efficiency, we have specified 6 various models with the focus on different regulatory instruments. Results firstly suggest that high cost efficiency does not necessarily imply high bank profit efficiency. Secondly, we uncovered the negative relation between market concentration, the level of development of financial market and the cost efficiency of foreign banks. Thirdly, we also found evidence supporting the assumption of positive impact of private monitoring and the independence of supervisory authority implying the increasing of transparency in the market. Additionally, we uncovered support for negative effect of activity and diversification restrictions. However, the results concerning the financial crisis period are...
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Bank regulatory standards and supervision: The impact on the of banks' efficiency
Kufnerová, Andrea ; Fišerová, Tereza (advisor) ; Havránková, Zuzana (referee)
This thesis examines the bank efficiency and the impact of the regulatory and supervisory instruments on the efficiency of banks actively performing on the financial markets in the countries of European Union. Our analysis concerns 8-year time period, covering also the period of global financial crisis with the aim to determine possible changes in the relationship regulation versus efficiency. We apply SFA Fourier-flexible model for estimation of profit and cost efficiency scores. Consequently we use GLS panel data estimation in order to test for the regulatory determinants of efficiency, we have specified 6 various models with the focus on different regulatory instruments. Results firstly suggest that high cost efficiency does not necessarily imply high bank profit efficiency. Secondly, we uncovered the negative relation between market concentration, the level of development of financial market and the cost efficiency of foreign banks. Thirdly, we also found evidence supporting the assumption of positive impact of private monitoring and the independence of supervisory authority implying the increasing of transparency in the market. Additionally, we uncovered support for negative effect of activity and diversification restrictions. However, the results concerning the financial crisis period are...
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Profitability of Foreign Owned Banks in Central and Eastern European Countries
Kufnerová, Andrea ; Lešanovská, Jitka (advisor) ; Lypko, Vyacheslav (referee)
Since foreign owned banks create important market shares in the banking sectors in the Central and Eastern European (CEE) countries, the aim of this study is to detect the determinants of the profitability of foreign banks operating in this region. In our study, we focus on the sample of foreign owned banks in 10 CEE countries during the period 2003-2011. We investigate, using the econometric analysis, the impact of bank-specific, macroeconomic and market structure characteristics as well as the euro area development on the profitability of foreign owned banks. We also examine whether the impact of these determinants differs in the period before the global financial crisis and during the crisis. Our results suggest significant influence of the bank-specific factors on the profitability of foreign owned banks and that the sensitivity of profitability to bank-specific characteristics has even risen during the crisis period. Surprisingly, we do not find the relation between the market structure in the host country, where the banks operate, and the profitability similarly to the participation of the host country in the European Union and the euro area. However, some of the macroeconomic variables capturing both the host country and the euro area developments affect bank profitability but in some cases...
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