Các yếu tố ảnh hưởng đến khả năng sinh lời của các ngân hàng thương mại niêm yết trên thị trường chứng khoán Việt Nam
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Tóm tắt
Bài nghiên cứu được thực hiện nhằm đánh giá tác động của các yếu tố ảnh hưởng đến khả năng sinh lời của các ngân hàng thương mại niêm yết trên thị trường chứng khoán Việt Nam giai đoạn từ năm 2010 đến năm 2020. Sử dụng mô hình bình phương tối thiểu tổng quát khả thi (FGLS), kết quả cho thấy, quy mô ngân hàng, rủi ro thanh khoản, tốc độ tăng trưởng của nền kinh tế, lạm phát có tác động cùng chiều đến khả năng sinh lời. Ngược lại, chi phí trên thu nhập, đòn bẩy tài chính, rủi ro tín dụng có tác động ngược chiều đến khả năng sinh lợi của các ngân hàng thương mại Việt Nam. Từ kết quả nghiên cứu, chúng tôi gợi ý một số các hàm ý chính sách bao gồm gia tăng quy mô, tăng tính thanh khoản, kiểm soát mức độ sử dụng đòn bẩy tài chính, tăng cường giám sát khoản vay và quản lý chi phí để giúp các ngân hàng cải thiện khả năng sinh lời. Đồng thời, khả năng sinh lời của ngân hàng không chỉ bị ảnh hưởng bởi các yếu tố bên trong ngân hàng mà còn bị ảnh hưởng bởi yếu tố bên ngoài ngân hàng. Môi trường kinh tế vĩ mô thay đổi sẽ ảnh hưởng đáng kể đến khả năng sinh lợi của ngân hàng. Do đó, để gia tăng khả năng sinh lợi, các ngân hàng thương mại cần chú trọng kiểm soát yếu tố bên trong đồng thời dựa trên tình hình kinh tế vĩ mô bên ngoài để có những điều chỉnh phù hợp
Chi tiết bài viết
Từ khóa
Khả năng sinh lời, Ngân hàng thương mại, FGLS
Tài liệu tham khảo
Abate, T. W. & Mesfin, E. A. (2019). Factors Affecting Profitability of Commercial Banks in Ethiopia. International Journal of Research and Analytical Reviews, 6(1), 881-891.
Acaravci, S.K. & Ahmet, E.C. (2013). Turkish banking sector’s profitability factors. International Journal of Economics and Financial Issues, 3(1), 27–41.
Alper, D. & Anbar, A. (2011). Bank Specific, Macroeconomic Determinants of Commercial Bank Profitability: Empirical Evidence from Turkey. Business and Economics Research Journal, 2(2), 139-152.
Angbazo, L. (1997). Commercial Bank Interest Margins, Default Risk, Interest-rate Risk, and Off-balance Sheet Banking. Journal of Banking and Finance, 21(1), 55- 87.
Athanasoglou, P. P., Delis, M. D. & Staikourasb, C. K. (2006). Determinants of Bank Profitability in the South Eastern European Region. Journal of Financial Decision Making, 2(2), 01-17.
Barajas, A., Steiner, R. & Salazar, N. (1999). Interest Spreads in Banking in Colombia 1974-96. IMF Staff Papers, 46(2), 1-148.
Barros, C. P. & Borges, M. R. (2011). Measuring performance in the Portuguese banking industry with a Fourier regression model. Applied Economics Letters, 18(1), 21-28.
Berger, A. N. (1995). The Relationship between Capital and Earnings in Banking. Journal of Money, Credit and Banking, 27(2), 432-456.
Berger, A.N., DeYoung, R., Genay, H. & Udell, G. (2000). Globalization of Financial Institutions: Evidence from cross-border banking performance. In: Litan RE, Santomero A.M. (eds). Bookings-Wharton Papers on Financial Services. Washington, DC: Brookings Institution Press, 23-158.
Bikker, J.A. & Hu, H. (2002). Cyclical Patterns in Profits, Provisioning and Lending of Banks and Procyclicality of the New Basel Capital Requirements. Banca Nazionale del Lavoro Quarterly Review, 55(221), 143-175.
Bourke, P. (1989). Concentration and other determinants of bank profitability in Europe, North America and Australia. Journal of Banking & Finance, 13(1), 65-79.
Borio, C., Gambacorta, L., & Hofmann, B. (2017). The influence of monetary policy on bank profitability. International Finance, 20(1), 48–63.
Bunyaminu, A.; Yakubu, I. N and Bashiru, S. (2021). The effect of financial leverage on profitability: An empirical analysis of recapitalized banks in Ghana. International Journal of Accounting and Finance Review, 7(1), 93-102.
Demirgüç-Kunt, A. & Huizinga, H. (1999). Determinants of Commercial Bank Interest Margins and Profitability: Some International Evidence. The World Bank Economic Review, 13(2), 379-408.
Dietrich, A. & Wanzenried, G. (2009). What Determines the Profitability of Commercial Banks? New Evidence from Switzerland. 12th Conference of the Swiss Society for Financial Market Researches, Geneva.
Dietrich, A. & Wanzenried, G. (2011). Determinants of bank profitability before and during the crisis: Evidence from Switzerland. Journal of International Financial Markets, Institutions and Money, 21(3), 307-327.
Doliente, J.S. (2005). Determinants of bank interest margins in South East Asia. Applied Financial Economics Letters, 1(1), 53-57.
Guru, B.K., Staunton, J. & Balashanmugam, B. (1999). Determinants of Commercial Bank Profitability in Malaysia. 12th Annual Finance and Banking Conference, Sidney.
Halkos, G., & Georgiou, M. (2005). Bank sales, spread and profitability: an empirical analysis. Applied Financial Economics Letters, 1(5), 293-296.
Hasan, M.S.A; Manurung, A.H & Usman, B. (2020). Determinants of Bank Profitability with Size as Moderating Variable. Journal of Applied Finance & Banking, 10(3), 1-7.
Heibati, F., Seid Noorani, M. & DadKhah, S. (2009). Evaluation of private banks compared to banks performance of countries around Arabic Gulf. Journal of Economic, 6, 91-108.
Hồ Thị Hồng Minh và Nguyễn Thị Cành (2015). Đa dạng hóa thu nhập và yếu tố tác động đến khả năng sinh lời các NHTM Việt Nam. Tạp chí Công nghệ Ngân hàng, 106+107, 13-23.
Kalluru, S.R. & Bhat K.S. (2008). An Empirical Analysis of Profitability Determinants in Indian Commercial Banks during Post Reform Period. ICFAI Journal of Industrial Economics, 5(4), 37-56.
Karimzadeh, M., Akhtar, S. J. & Karimzadeh, B. (2013). Determinants of profitability of banking sector in India. Transition Studies Review, 20(2), 211–19.
Kosmidou, K. (2008). The determinants of banks’ profits in Greece during the period of EU financial integration. Managerial Finance, 34(3), 146 - 159.
Koroleva, E., Jigeer, S., Miao, A. & Skhvediani, A. (2021). Determinants Affecting Profitability of State-Owned Commercial Banks: Case Study of China. Risks, 9(150), 1-19.
Mamatzakis, E. C. & Remoundos, P. C. (2003). Determinants of Greek Commercial Banks Profitability, 1989 – 2000. Spoudai, 53(1), 94-94.
Maness, T.S., and Zietlow, J.T. (2005). Short-Term Financial Management. 3rd Edición. Mason: South-Western.
Mohamad Akbar Noor Mohamad Noor (2012). The Determinants Efficiency and Profitability of Islamic Banks: An Empirical Study in 25 Countries. Lambert Academic Publishing.
Nguyễn Phạm Nhã Trúc và Nguyễn Phạm Thiên Thanh (2016). Các nhân tố tác động đến khả năng sinh lời hệ thống NHTM tại Việt Nam. Tạp chí Kinh tế và Phát triển, 228 (tháng 6/2016), 52-59.
Olweny, T. & Shipho, T.M. (2011). Effects of banking sectoral factors on the profitability of commercial banks in Kenya. Economics and Finance Review, 1(5), 01-30
Ong, T.S. & Teh, B.H. (2013). Factors affecting the profitability of Malaysian commercial banks. African Journal of Business Management, 7(8), 649-660.
Pasiouras, F. & Kosmidou, K. (2007). Factors influencing the profitability of domestic and foreign commercial banks in the European Union. Research in International Business and Finance, 21(2), 222–237.
Perry, P. (1992). Do Banks Gain or Lose From Inflation? Journal of Retail Banking, 14(2), 25-30.
Revell, J.R.S. (1980). Costs and margins in banking: an international survey. Paris: Organization for Economic Co-operation and Development.
Rose, P. & Hudgins, S. C. (2012). Bank Management and Financial Services. New York: McGraw Hill; 9th edition.
Short, B. (1979). The relation between commercial bank profit rates and banking concentration in Canada, Western Europe and Japan. Journal of Banking and Finance, 3(3), 209-219.
Sufian, F. & Habibullah, M. S. (2009). Determinants of bank profitability in a developing economy: Empirical evidence from Bangladesh. Journal of Business Economics and Management, 10(3), 207-217.
Ul Mustafa, A.R., Riaz, H.A. & Muhammad, U.Y. (2012). Does the loan loss provision affect the banking profitability in case of Pakistan? Asian Economic and Financial Review, 2(7), 772–83.
Acaravci, S.K. & Ahmet, E.C. (2013). Turkish banking sector’s profitability factors. International Journal of Economics and Financial Issues, 3(1), 27–41.
Alper, D. & Anbar, A. (2011). Bank Specific, Macroeconomic Determinants of Commercial Bank Profitability: Empirical Evidence from Turkey. Business and Economics Research Journal, 2(2), 139-152.
Angbazo, L. (1997). Commercial Bank Interest Margins, Default Risk, Interest-rate Risk, and Off-balance Sheet Banking. Journal of Banking and Finance, 21(1), 55- 87.
Athanasoglou, P. P., Delis, M. D. & Staikourasb, C. K. (2006). Determinants of Bank Profitability in the South Eastern European Region. Journal of Financial Decision Making, 2(2), 01-17.
Barajas, A., Steiner, R. & Salazar, N. (1999). Interest Spreads in Banking in Colombia 1974-96. IMF Staff Papers, 46(2), 1-148.
Barros, C. P. & Borges, M. R. (2011). Measuring performance in the Portuguese banking industry with a Fourier regression model. Applied Economics Letters, 18(1), 21-28.
Berger, A. N. (1995). The Relationship between Capital and Earnings in Banking. Journal of Money, Credit and Banking, 27(2), 432-456.
Berger, A.N., DeYoung, R., Genay, H. & Udell, G. (2000). Globalization of Financial Institutions: Evidence from cross-border banking performance. In: Litan RE, Santomero A.M. (eds). Bookings-Wharton Papers on Financial Services. Washington, DC: Brookings Institution Press, 23-158.
Bikker, J.A. & Hu, H. (2002). Cyclical Patterns in Profits, Provisioning and Lending of Banks and Procyclicality of the New Basel Capital Requirements. Banca Nazionale del Lavoro Quarterly Review, 55(221), 143-175.
Bourke, P. (1989). Concentration and other determinants of bank profitability in Europe, North America and Australia. Journal of Banking & Finance, 13(1), 65-79.
Borio, C., Gambacorta, L., & Hofmann, B. (2017). The influence of monetary policy on bank profitability. International Finance, 20(1), 48–63.
Bunyaminu, A.; Yakubu, I. N and Bashiru, S. (2021). The effect of financial leverage on profitability: An empirical analysis of recapitalized banks in Ghana. International Journal of Accounting and Finance Review, 7(1), 93-102.
Demirgüç-Kunt, A. & Huizinga, H. (1999). Determinants of Commercial Bank Interest Margins and Profitability: Some International Evidence. The World Bank Economic Review, 13(2), 379-408.
Dietrich, A. & Wanzenried, G. (2009). What Determines the Profitability of Commercial Banks? New Evidence from Switzerland. 12th Conference of the Swiss Society for Financial Market Researches, Geneva.
Dietrich, A. & Wanzenried, G. (2011). Determinants of bank profitability before and during the crisis: Evidence from Switzerland. Journal of International Financial Markets, Institutions and Money, 21(3), 307-327.
Doliente, J.S. (2005). Determinants of bank interest margins in South East Asia. Applied Financial Economics Letters, 1(1), 53-57.
Guru, B.K., Staunton, J. & Balashanmugam, B. (1999). Determinants of Commercial Bank Profitability in Malaysia. 12th Annual Finance and Banking Conference, Sidney.
Halkos, G., & Georgiou, M. (2005). Bank sales, spread and profitability: an empirical analysis. Applied Financial Economics Letters, 1(5), 293-296.
Hasan, M.S.A; Manurung, A.H & Usman, B. (2020). Determinants of Bank Profitability with Size as Moderating Variable. Journal of Applied Finance & Banking, 10(3), 1-7.
Heibati, F., Seid Noorani, M. & DadKhah, S. (2009). Evaluation of private banks compared to banks performance of countries around Arabic Gulf. Journal of Economic, 6, 91-108.
Hồ Thị Hồng Minh và Nguyễn Thị Cành (2015). Đa dạng hóa thu nhập và yếu tố tác động đến khả năng sinh lời các NHTM Việt Nam. Tạp chí Công nghệ Ngân hàng, 106+107, 13-23.
Kalluru, S.R. & Bhat K.S. (2008). An Empirical Analysis of Profitability Determinants in Indian Commercial Banks during Post Reform Period. ICFAI Journal of Industrial Economics, 5(4), 37-56.
Karimzadeh, M., Akhtar, S. J. & Karimzadeh, B. (2013). Determinants of profitability of banking sector in India. Transition Studies Review, 20(2), 211–19.
Kosmidou, K. (2008). The determinants of banks’ profits in Greece during the period of EU financial integration. Managerial Finance, 34(3), 146 - 159.
Koroleva, E., Jigeer, S., Miao, A. & Skhvediani, A. (2021). Determinants Affecting Profitability of State-Owned Commercial Banks: Case Study of China. Risks, 9(150), 1-19.
Mamatzakis, E. C. & Remoundos, P. C. (2003). Determinants of Greek Commercial Banks Profitability, 1989 – 2000. Spoudai, 53(1), 94-94.
Maness, T.S., and Zietlow, J.T. (2005). Short-Term Financial Management. 3rd Edición. Mason: South-Western.
Mohamad Akbar Noor Mohamad Noor (2012). The Determinants Efficiency and Profitability of Islamic Banks: An Empirical Study in 25 Countries. Lambert Academic Publishing.
Nguyễn Phạm Nhã Trúc và Nguyễn Phạm Thiên Thanh (2016). Các nhân tố tác động đến khả năng sinh lời hệ thống NHTM tại Việt Nam. Tạp chí Kinh tế và Phát triển, 228 (tháng 6/2016), 52-59.
Olweny, T. & Shipho, T.M. (2011). Effects of banking sectoral factors on the profitability of commercial banks in Kenya. Economics and Finance Review, 1(5), 01-30
Ong, T.S. & Teh, B.H. (2013). Factors affecting the profitability of Malaysian commercial banks. African Journal of Business Management, 7(8), 649-660.
Pasiouras, F. & Kosmidou, K. (2007). Factors influencing the profitability of domestic and foreign commercial banks in the European Union. Research in International Business and Finance, 21(2), 222–237.
Perry, P. (1992). Do Banks Gain or Lose From Inflation? Journal of Retail Banking, 14(2), 25-30.
Revell, J.R.S. (1980). Costs and margins in banking: an international survey. Paris: Organization for Economic Co-operation and Development.
Rose, P. & Hudgins, S. C. (2012). Bank Management and Financial Services. New York: McGraw Hill; 9th edition.
Short, B. (1979). The relation between commercial bank profit rates and banking concentration in Canada, Western Europe and Japan. Journal of Banking and Finance, 3(3), 209-219.
Sufian, F. & Habibullah, M. S. (2009). Determinants of bank profitability in a developing economy: Empirical evidence from Bangladesh. Journal of Business Economics and Management, 10(3), 207-217.
Ul Mustafa, A.R., Riaz, H.A. & Muhammad, U.Y. (2012). Does the loan loss provision affect the banking profitability in case of Pakistan? Asian Economic and Financial Review, 2(7), 772–83.