博士 / 國立政治大學 / 金融研究所 / 98 / This paper has two topics. First, we investigate the determinants of the overseas physical expansions of world’s large banks, using individual bank data on the number of foreign offices set up by top 1,000 world banks in host financial center cities located in 40 countries. Second, we explore the impact of corruption on banks’ overseas physical expansions, using data on the number of foreign branches set up by banks of 45 countries in host financial center cities located in 46 countries. Through the first one, we can know the strategy thinking of world’s large banks and common incentives that attract their investments, differing from previous studies. Through the second topic, we can know the playing role of corruption in banks’ overseas investment, which no previous study had explored before.
In the first studing, we investigate the determinants of the overseas expansions of world’s large banks in views of eclectic theory and our results lead to three result. First, about the factors of ownership advantage, larger size or better performance banks tend to be aggressive in internationalization. Second, about the factor of internalization advantage, banks tend to establish more overseas offices in the countries that have closer relationship of international trade with home country. Finally, about the factors of location advantage, banks are more likely to operate in countries that have more banking opportunities, higher accessibility of market or lower information costs. But, not consistent with our expectations, banks also prefer to invest in more regulated markets, possibly because they expect to obtain higher profits or market shares in these countries.
In the second studing, we examine the impact of corruption on overseas investment and find the negative impact. Corruption impedes multinational banks’ cross-border investment and thus decreases foreign branch establishing. We also find the negative impact of corruption difference between two countries and its asymmetric effect. The first one indicates that corruption difference would increase the entry cost to foreign banks and result in negative investment decisions. The second one means that negative impact of corruption difference diminishes with the level of source-country corruption. It shows that bank from higher corruption country has better capacity to handle this difference. We suggest that multinational banks should improve the managing bribery skills to benefit their overseas investment.
| Identifer | oai:union.ndltd.org:TW/098NCCU5214016 |
| Date | January 2010 |
| Creators | 蔡淵禮 |
| Contributors | , 朱浩民, 沈中華 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 107 |
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