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《德國銀行資金模式結構和盈利能力的變化【外文翻譯】》由會員上傳分享，免費在線閱讀，更多相關內容在學術論文-天天文庫。
1、外文翻譯原文GermanbankcapitalmodelstructureandprofitabilityofchangeMaterialSource:R&DManagement34，4，2004Author:LarsNordenandMartinWeberWeinvestigatethefundingmodesofGermanbanksandtheimplicationsforlendingandprofitabilityduring1992–2002.Wefindthatatmanybanks,depos
2、itsfromcustomersdecreaseinrelativetermswhileinterbankliabilitiesincreaseasasourceoffunding.Wecannotdetectanegativeimpactoftherelativedeclineindepositsonlending.Thedecreasingabilityofbankstocollectdepositsandthesubstitutionofdepositsbyinterbankliabilitiesunf
3、avorablyaffectsthenetinterestresultofbanksthatexhibitadepositdeficit,especiallysavingsbanks.Ourfindingsindicateastructurallengtheningoftheintermediationchain,whichhasbroaderimplicationsforthefunctioningandstabilityofthefinancialsystem.Inthispaper,weinvestig
4、atethestructuralchangesinbanks’fundingmodesandtheimplicationsforlendingtocustomersandtheeffectonbankprofitability.OurempiricalevidenceisbasedonamicrodatasetforallGermanbanksthatweobtainfromtheDeutscheBundesbankfortheperiod1992–2002.First,wefindthatgrowthofi
5、nterbankliabilitiesisnegativelyrelatedtothegrowthofdepositsfromcustomersatsavingsbanksandcreditcooperatives.Theeffectisstrongestatsavingsbanks.Thus,weprovideempiricalevidenceforastructuralchangeontheliabilitysideofthesebanks’balancesheets.Thisfindingindicat
6、esanincreasingspecializationofretailandwholesalebanksinthesamesector,anditisconsistentwithanoveralllengtheningoftheintermediationchainandwithfinancialdeepeningoftheeconomy.Banksfacingafundingdeficitbecomenetinterbankborrowers,whileothersthatbenefitfromastab
7、lefundingsurplusbecomenetinterbanklenders.Second,wedonotdetectanegativeimpactoftherelativedeclineindepositsonlendingtocustomers.Instead,lendingslightlygainsinrelativeimportanceovertime.Third,thedecreasingabilityofbankstocollectdepositsfromcustomersandthesub
8、stitutionofdepositsbyinterbankliabilitiesrepresentsoneexplanationforthedecliningnetinterestresultforGermansavingsbanksandotherretailbankswithafundingdeficit.Theimplicationsofouranalysisarefirst,thatthe
