商业银行中间业务外文文献翻译译文3173字Word格式.docx

商业银行中间业务外文文献翻译译文3173字Word格式.docx

《商业银行中间业务外文文献翻译译文3173字Word格式.docx》由会员分享，可在线阅读，更多相关《商业银行中间业务外文文献翻译译文3173字Word格式.docx（7页珍藏版）》请在冰豆网上搜索。

AnOverview[J].AcademyofManagementJournal,2014,26:

117-132.

（声明：

本译文归XX文库所有，完整译文请到XX文库。

）

原文

TheIntermediaryBusinessofCommercialBank：

AnOverview

DuttN,HawnO

Abstract

Intermediatebusinessdoesnotconstituteacommercialbankstatementofassets,liabilitiessheet,andtheformationofbanks1non-interestincomebusiness.Intermediatebusinesstyingupfundsforsmallbusinessvarieties,smallrisk,higherincome,moreandmoreattentionofthecommercialbanks.Vigorouslydevelopintermediarybusinessbeneficialtoincreasethesourcesofprofitsofcommercialbanks,helpenhancetheanti-riskabilityofcommercialbanks,butalsoconducivetoactivelyrespondtotheinterestratemarketandfinancialchallenges"

disintermediation"

hasaveryimportantsignificance.

Keywords:

CommercialBanks;

Intermediarybusiness;

Characteristic;

Classification

1Introduction

Atpresent,financialinnovationisthemainpowertopromotethedevelopmentofthefinancialsector,financialinnovationandthedevelopmentofintermediarybusinessistodo.TheconceptofinnovationisfirstandforemostbySchumpeter,（1939）initswritten"

theeconomiccycle,"

believesthatinnovationistobuildanewproductionfunction,we'

veneverseenaproductionelementsandproductionconditionsofproductioncombinations,isintroducedintotheprocessofsocialproductionsystem.Withthedevelopmentofthetheoryofinnovation,innovationbegantointroducethefinancialsector.Westpare（Sliber,1970）thinkisthemainreasonforfinancialinnovation,financialenterprisesinordertoavoidfacingthevariousinternalandexternalrestriction.Kane（Kane,1978）arguesthatthegovernmentforvariousfinancialcontrols,limitingthefinancialindustry'

sprofitabilityandfinancialenterprisesinordertoavoidthesecontrols,financialinnovationwillvigorously.

Hicks（Hicks,1981）studiesfinancialinnovationtransactioncosts,whichisthepurposeoffinancialinnovationinordertodecreasethecostoffinancialtransactions.North（North,1981）thinkanyinstitutionalchangeinthefinancialsectorcanbeseenasakindoffinancialinnovation.Benven（1984）andBerger（1987）arguesthatasaresultoftheexistenceofinformationasymmetry,theregulatorofdepositinsurancesystemtolimittheexpansionofthecommercialbankdepositandlendingbusiness,inordertoseeknewprofitpoint,commercialBankscanonlyvigorouslydevelopintermediarybusiness.ChristopherJames（1989）considerfromtheAngleofinvestors,thatcommercialBanksrelyondepositandloanbusinessandequityinvestmentisunabletomeettherequirementsofinvestorsonearnings,whilethedevelopmentofintermediarybusinesscanenhancetheprofitandcompetitionabilityofcommercialBanks,soastomeettherequirementsofinvestors.Exceptforthestudyofthetheoryoffinancialinnovation,manyforeignscholarsalsotheriskofintermediarybusinessandeconomicbenefitsfortherelatedresearch.

M.K.H（1994）onthestockpricesoflistedBanksandintermediatebusinesscarriesontheanalysis,thoughttheintermediatebusinessrarelybringsmarketabilitysystemrisk,itcanevenreducetheriskoftraditionalbusiness,whichreducestheoverallriskofcommercialbankhoweverDaraKharabat（2002）isattheoppositepointofview,heisstudyingtheJapanesefinancialdataofthe20biggestBanks,thoughtinthedevelopmentofintermediarybusinessofcommercialbankatthesametime,shouldalsoconsidertheriskitcontains,otherwiseitmaycausetheriskoftheentirefinancialsystem.Cebenovan（1989）studiedthedataofcommercialBanksinNewYork,theintermediarybusinessisobtained,andavarietyofloanbusinessbetweenthemoresignificantscopeisnoteconomic.

Thereareanumberofstudiesonthechangingpatternsofthestructureofbanks'

incomewiththeinclusionofOBSactivities.Amongthem,RogersandSinkey（1999:

8）investigatedtherelationshipbetweenthenon-traditionalactivitiesandsomevariablesbyanalyzingfinancialstatementsof8.931banksfortheperiod1989-1993.Theyfoundanegativeandsignificantrelationshipbetweennetinterestmarginandnon-traditionalactivities.Inaddition,theyarguedthatmostlythebigbanksfocusedonnon-commercialactivities.

DavisandTuori（2000）analyzedthestructureofbanks'

incomeinOECDcountriesfortheperiod1979-1995,usingthedataonbankprofitability.Theyfoundevidenceofchangesintheincomestructurefrominterestincometonon-interestincome,withrapidgrowthofOBSactivitiesinmostoftheEUcountries.Inaddition,theirresultsindicatethatlargerbankstendtomaintainhighlevelsofnon-interestincome.Inadditiontotheanalysisdoneonthechangingpatternsofthestructureofbanks'

incomewiththeinclusionofOBSactiviti