Tác động của năng lực cạnh tranh đến mức độ ổn định tài chính của các Ngân hàng thương mại Việt Nam trước bối cảnh tham gia Hiệp định CPTPP
Nội dung chính của bài viết
Tóm tắt
Việc gia nhập CPTPP được kì vọng mang đến cho ngành ngân hàng Việt Nam nhiều cơ hội phát triển ra thị trường quốc tế. Mức độ tập trung của các ngân hàng thương mại (NHTM) sẽ ảnh hưởng đến sức mạnh thị trường đồng thời với mức độ ổn định tài chính của hệ thống ngân hàng đó. Bài viết tập trung phân tích tác động của cạnh tranh đến mức độ ổn định tài chính của 31 NHTM Việt Nam trong giai đoạn 2010 – 2018. Nghiên cứu thực nghiệm sử dụng chỉ số Lerner để đo lường năng lực cạnh tranh, chỉ số Zscore để ước lượng mức độ ổn định tài chính ngân hàng và các yếu tố tác động (biến độc lập) được chọn lọc dựa vào khung phân tích CAMELS (IMF). Dữ liệu sử dụng các kết quả được tính toán, tổng hợp từ Worldbank, IMF, báo cáo tài chính công bố của Ngân hàng Nhà nước, báo cáo thường niên của 31 ngân hàng thương mại Việt Nam, số liệu tổng kết từ báo cáo tại các diễn đàn kinh tế uy tín. Thông qua đó, bài viết đề xuất một số gợi ý cho các nhà hoạch định chính sách và quản trị ngân hàng giúp các hoạt động trong ngành ngân hàng ngày càng ổn định hơn.
Chi tiết bài viết
Từ khóa
CPTPP, Năng lực cạnh tranh, Ngân hàng thương mại, Ổn định tài chính
Tài liệu tham khảo
Allen, F., & Gale, D. (2004). Competition and Financial Stability. Journal of Money, Credit and Banking, 36(3), Part 2, 453-480.
Amidu, M., & Wolfe, S. (2013). Does bank competition and diversification lead to greater stability? Evidence from emerging markets. Review of Development Finance, 3(3), 152-166.
Arellano, M., & Bond, S. (1991). Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations. The Review of Economic Studies, 58(2), 277-297.
Ariss, R. T. (2010). On the implications of market power in banking: Evidence from developing countries. Journal of banking & Finance, 34(4), 765-775.
Athanasoglou, P., Delis, M., & Staikouras, C. (2008). Determinants of Bank Profitability in the South Eastern European Region. Journal of Financial Decision Making, 2, 1-17.
Berger, A. N., Demirgüç-Kunt, A., Levine, R., & Haubrich, G. J. (2004). Bank Concentration and Competition: An Evolution in the Making. Journal of Money, Credit and Banking, 36(3), 433-451.
Berger, A., Klapper, L., & Turk-Ariss , R. (2009). Bank competition and financial stability. Journal of Financial Services Research, 35, 98-118.
Besanko, D., & Thakor, A. (2004). Relationship Banking, Deposit Insurance and Bank Portfolio Choice. Journal of Economic Theory, 30(4), 167-182.
Boot, A. W., Greenbaum, S. I., & Thakor, A. V. (1993). Reputation And Discretion In Financial Contracting. The American Economic Review Vol. 83(5), 1165-1183.
Boyd, J. H., & Nicoló, G. D. (2005). The Theory of Bank Risk Taking and Competition Revisited. The Journal of Finance, 60(3), 1329-1343.
Caminal, R., & Matutes, C. (2002). Market power and banking failures. International Journal of Industrial Organization, 20(9), 1341-1361.
Cihák, M., & Schaeck, K. (2014). Competition, Efficiency, and Stability in Banking. Financial Management, 43(1), 215-241.
Claessens, S., Demirgüç-Kunt, A., & Huizinga, H. (2001). How does foreign entry affect domestic banking markets? Journal of Banking and Finance, 25, 891-911.
Delis, M. (2012). Bank competition, financial reform, and institutions: The importance of being developed. Journal of Development Economics, 97, 450-465.
Delis, M., & Tsionas, E. (2009). The joint estimation of bank-level market power and efficiency. Journal of Banking & Finance, 33(10), 1842-1850.
Demirguc-Kunt, Asli; Huizinga, Harry. (2016). Determinants of commercial bank interest margins and profitability : some international evidence (English). The World Bank economic review, 309-408.
Hoàng Công Gia Khánh & Trần Hùng Sơn (2015). Phát triển thị trường tài chính và rủi ro của các ngân hàng thương mại Việt Nam. Tạp chí Phát triển Kinh tế, 26(12), 53-68.
Fernández, R. O., & Garza-García, J. G. (2017). The relationship between bank competition and financial stability: A case study of the Mexican banking industry. Ensayos Revista de Economía 0(1), 103-120.
Fu, X. M., Lin, Y. R., & Molyneux, P. (2014). Bank competition and financial stability in Asia Pacific. Journal of Banking and Finacce, 38, 64-77.
Goetz, M. (2017). Competition and bank stability. Journal of Financial Intermediation, 35, 145 – 168.
Jeon, J. Q., Lee, C., & Moffett, C. M. (2011). Effects of foreign ownership on payout policy: Evidence from the Korean market. Journal of Financial Markets, 14(2), 344-375.
Juabin, M. (2019). Financial Performance Analysis of Distressed Banks in Ghana: Exploration of Financial Ratios and Z-score. MPRA Paper 97095, University Library of Munich, Germany.
Kasman, A., & Carvallo, O. (2014). Financial stability, competition and efficiency in Latin American and Caribbean banking. Journal of Applied Economics, 49(2), 301-324.
Keeley, M. C. (1990). Deposit Insurance, Risk, and Market Power in Banking. The American Economic Review, 80(5), 1183-1200.
Lee, C.-C., Hsieh, M.-F., & Yang, S.-J. (2014). The relationship between revenue diversification and bank performance: Do financial structures and financial reforms matter? Japan and the World Economy, 29, 18-35.
Manlagñit, M. (2011). ost efficiency, determinants, and risk preferences in banking: A case of stochastic frontier analysis in the Philippines. Journal of Asian Economics, 22, 23-35.
Martinez-Miera, D., & Repullo, R. (2010). Does Competition Reduce the Risk of Bank Failure? Review of Financial Studies, 23(10), 3638-3664.
Maudos, J., & Solís, L. (2009). The Determinants of Net Interest Income in the Mexican Banking System: An Integrated Model. Journal of Banking and Finance, 35, 1920-1931.
Mensi, S., & Labidi, W. (2015). The Effect of Diversification of Banking Products on the Relationship between Market Power and Financial Stability. American Journal of Economics and Business Administration, 7(4), 185-193.
Micco, A., Panizza, U., & Yañez, M. (2007). Bank ownership and performance. Does politics matter? Journal of Banking & Finance, 31(1), 219-241.
Michael C. Keeley. (1990). Deposit Insurance, Risk, and Market Power in Banking. The American Economic Review, 80(5), 1183-1200.
Mustafa, A., & Toçi, V. (2017). Estimation of the banking sector competition in the CEE countries: The Panzar-Rosse approach. Journal of Economics and Business, 35(2), 459-485.
Nguyễn Minh Hà & Nguyễn Bá Hướng (2016). Phân tích các yếu tố ảnh hưởng đến rủi ro phá sản ngân hàng bằng phương pháp Z-Score. Tạp chí Kinh tế & Phát triển, 229, 17-25.
Pathan, S., Skully, M., & Wickramanayake, J. (2007). Board Size, Independence and Performance: An Analysis of Thai Banks. Asia-Pacific Financial Markets, 14(3), 211-227.
Sadikoglu, E., & Zehir, C. (2010). Investigating the effects of innovation and employee performance on the relationship between total quality management practices and firm performance: An empirical study of Turkish firms. International Journal of Production Economics, 127 (1), 13-26.
Sanya, S., & Wolfe, S. (2011). Can Banks in Emerging Economies Benefit from Revenue Diversification? Journal of Financial Services Research, 40, 79-101.
Tan, Y. (2016). Efficiency and Competition in Chinese Banking. Chandos.
Võ Xuân Vinh & Đặng Bửu Kiếm (2016). Năng lực cạnh tranh, lợi nhuận và sự ổn định của các ngân hàng Việt Nam. Tạp chí Phát triển Kinh tế, 27(12), 25-45.
Amidu, M., & Wolfe, S. (2013). Does bank competition and diversification lead to greater stability? Evidence from emerging markets. Review of Development Finance, 3(3), 152-166.
Arellano, M., & Bond, S. (1991). Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations. The Review of Economic Studies, 58(2), 277-297.
Ariss, R. T. (2010). On the implications of market power in banking: Evidence from developing countries. Journal of banking & Finance, 34(4), 765-775.
Athanasoglou, P., Delis, M., & Staikouras, C. (2008). Determinants of Bank Profitability in the South Eastern European Region. Journal of Financial Decision Making, 2, 1-17.
Berger, A. N., Demirgüç-Kunt, A., Levine, R., & Haubrich, G. J. (2004). Bank Concentration and Competition: An Evolution in the Making. Journal of Money, Credit and Banking, 36(3), 433-451.
Berger, A., Klapper, L., & Turk-Ariss , R. (2009). Bank competition and financial stability. Journal of Financial Services Research, 35, 98-118.
Besanko, D., & Thakor, A. (2004). Relationship Banking, Deposit Insurance and Bank Portfolio Choice. Journal of Economic Theory, 30(4), 167-182.
Boot, A. W., Greenbaum, S. I., & Thakor, A. V. (1993). Reputation And Discretion In Financial Contracting. The American Economic Review Vol. 83(5), 1165-1183.
Boyd, J. H., & Nicoló, G. D. (2005). The Theory of Bank Risk Taking and Competition Revisited. The Journal of Finance, 60(3), 1329-1343.
Caminal, R., & Matutes, C. (2002). Market power and banking failures. International Journal of Industrial Organization, 20(9), 1341-1361.
Cihák, M., & Schaeck, K. (2014). Competition, Efficiency, and Stability in Banking. Financial Management, 43(1), 215-241.
Claessens, S., Demirgüç-Kunt, A., & Huizinga, H. (2001). How does foreign entry affect domestic banking markets? Journal of Banking and Finance, 25, 891-911.
Delis, M. (2012). Bank competition, financial reform, and institutions: The importance of being developed. Journal of Development Economics, 97, 450-465.
Delis, M., & Tsionas, E. (2009). The joint estimation of bank-level market power and efficiency. Journal of Banking & Finance, 33(10), 1842-1850.
Demirguc-Kunt, Asli; Huizinga, Harry. (2016). Determinants of commercial bank interest margins and profitability : some international evidence (English). The World Bank economic review, 309-408.
Hoàng Công Gia Khánh & Trần Hùng Sơn (2015). Phát triển thị trường tài chính và rủi ro của các ngân hàng thương mại Việt Nam. Tạp chí Phát triển Kinh tế, 26(12), 53-68.
Fernández, R. O., & Garza-García, J. G. (2017). The relationship between bank competition and financial stability: A case study of the Mexican banking industry. Ensayos Revista de Economía 0(1), 103-120.
Fu, X. M., Lin, Y. R., & Molyneux, P. (2014). Bank competition and financial stability in Asia Pacific. Journal of Banking and Finacce, 38, 64-77.
Goetz, M. (2017). Competition and bank stability. Journal of Financial Intermediation, 35, 145 – 168.
Jeon, J. Q., Lee, C., & Moffett, C. M. (2011). Effects of foreign ownership on payout policy: Evidence from the Korean market. Journal of Financial Markets, 14(2), 344-375.
Juabin, M. (2019). Financial Performance Analysis of Distressed Banks in Ghana: Exploration of Financial Ratios and Z-score. MPRA Paper 97095, University Library of Munich, Germany.
Kasman, A., & Carvallo, O. (2014). Financial stability, competition and efficiency in Latin American and Caribbean banking. Journal of Applied Economics, 49(2), 301-324.
Keeley, M. C. (1990). Deposit Insurance, Risk, and Market Power in Banking. The American Economic Review, 80(5), 1183-1200.
Lee, C.-C., Hsieh, M.-F., & Yang, S.-J. (2014). The relationship between revenue diversification and bank performance: Do financial structures and financial reforms matter? Japan and the World Economy, 29, 18-35.
Manlagñit, M. (2011). ost efficiency, determinants, and risk preferences in banking: A case of stochastic frontier analysis in the Philippines. Journal of Asian Economics, 22, 23-35.
Martinez-Miera, D., & Repullo, R. (2010). Does Competition Reduce the Risk of Bank Failure? Review of Financial Studies, 23(10), 3638-3664.
Maudos, J., & Solís, L. (2009). The Determinants of Net Interest Income in the Mexican Banking System: An Integrated Model. Journal of Banking and Finance, 35, 1920-1931.
Mensi, S., & Labidi, W. (2015). The Effect of Diversification of Banking Products on the Relationship between Market Power and Financial Stability. American Journal of Economics and Business Administration, 7(4), 185-193.
Micco, A., Panizza, U., & Yañez, M. (2007). Bank ownership and performance. Does politics matter? Journal of Banking & Finance, 31(1), 219-241.
Michael C. Keeley. (1990). Deposit Insurance, Risk, and Market Power in Banking. The American Economic Review, 80(5), 1183-1200.
Mustafa, A., & Toçi, V. (2017). Estimation of the banking sector competition in the CEE countries: The Panzar-Rosse approach. Journal of Economics and Business, 35(2), 459-485.
Nguyễn Minh Hà & Nguyễn Bá Hướng (2016). Phân tích các yếu tố ảnh hưởng đến rủi ro phá sản ngân hàng bằng phương pháp Z-Score. Tạp chí Kinh tế & Phát triển, 229, 17-25.
Pathan, S., Skully, M., & Wickramanayake, J. (2007). Board Size, Independence and Performance: An Analysis of Thai Banks. Asia-Pacific Financial Markets, 14(3), 211-227.
Sadikoglu, E., & Zehir, C. (2010). Investigating the effects of innovation and employee performance on the relationship between total quality management practices and firm performance: An empirical study of Turkish firms. International Journal of Production Economics, 127 (1), 13-26.
Sanya, S., & Wolfe, S. (2011). Can Banks in Emerging Economies Benefit from Revenue Diversification? Journal of Financial Services Research, 40, 79-101.
Tan, Y. (2016). Efficiency and Competition in Chinese Banking. Chandos.
Võ Xuân Vinh & Đặng Bửu Kiếm (2016). Năng lực cạnh tranh, lợi nhuận và sự ổn định của các ngân hàng Việt Nam. Tạp chí Phát triển Kinh tế, 27(12), 25-45.