, Should Banks Be Diversified? Evidence from Individual Bank Loan Portfolios, Journal of Business, vol.79, issue.3, pp.1355-1412, 2006.
, Regulations, Competition and Bank Risk-Taking in Transition Countries, Journal of Financial Stability, vol.7, issue.1, pp.38-48, 2011.
, Bank-Specific, Industry-Specific and Macroeconomic Determinants of Bank Profitability, Journal of International Financial Markets, Institutions and Money, vol.18, issue.2, pp.121-157, 2008.
, Econometric Analysis of Panel Data. Chichester ; Hoboken, 2005.
, Fixed Effects, Random Effects or Hausman-Taylor?, Economics Letters, vol.79, issue.3, pp.361-69, 2003.
, De la crise financière à la crise économique, Documents et Débats N°4, vol.3, 2010.
, Ownership Structure and Risk in Publicly Held and Privately Owned Banks, Journal of Banking & Finance, vol.35, issue.5, pp.1327-1367, 2011.
URL : https://hal.archives-ouvertes.fr/hal-00786434
, The Regulation and Supervision of Banks around the World: A New Database, National Bureau of Economic Research NBER Working, vol.13, issue.2, pp.205-253, 1999.
, Do Bank Regulation, Supervision and Monitoring Enhance or Impede Bank Efficiency?, Journal of Banking & Finance, vol.37, issue.8, pp.2879-92, 2013.
, Too Big to Fail: Measures, Remedies, and Consequences for Efficiency and Stability, National Institute Economic Review, vol.235, issue.1, pp.175-245, 2016.
, Global systemically important banks: updated assessment methodology and the higher loss absorbency requirement, Basel Committee on Banking Supervision BCBS, 2013.
, Bank Competition and Stability: Cross-Country Heterogeneity, Journal of Financial Intermediation, vol.22, issue.2, pp.218-262, 2013.
, The Credit Crisis around the Globe: Why Did Some Banks Perform Better?, Journal of Financial Economics, vol.105, issue.1, pp.1-17, 2012.
, The globalization of financial institutions: Evidence from a cross-border banking performance, Brookings-Wharton Paper on Financial Service, pp.23-120, 2000.
, Do we need big banks? Evidence on performance, strategy and market discipline, Journal of Financial Intermediation, vol.22, issue.4, pp.532-558, 2013.
, Size, Leverage, and Risk-Taking of Financial Institutions, Journal of Banking & Finance, vol.59, pp.520-557, 2015.
, Heterogeneous Bank Regulatory Standards and the Cross-Border Supply of Financial Services, Economic Modelling, vol.40, pp.342-54, 2014.
URL : https://hal.archives-ouvertes.fr/hal-01385935
, The Theory of Bank Risk Taking and Competition Revisited, Journal of Finance, vol.60, issue.3, pp.1329-1372, 2005.
, The Profitability and Risk Effects of Allowing Bank Holding Companies to Merge with Other Financial Firms: A Simulation Study, Federal Reserve Bank of Minneapolis Quarterly Review, vol.10, issue.2, pp.3-20, 1986.
, Our five dependant variables are Zscore the natural logarithm of the measure of the bank default risk and financial stability ; Zscore1 is the natural logarithm of the measure of bank asset risk ; Zscore2 is the natural logarithm of the measure of bank leverage risk ; SDROA is the standard deviation of the return on assets on a threeyear rolling window ; ROA is the return on assets that measures profitability as the ratio of net income to total assets. Foreign: dummy equal to one when the bank owns at least one affiliate abroad and zero otherwise ; Nb_Affiliates: natural logarithm of the total number of foreign affiliates owned by a bank Nb_S: natural logarithm of the number of foreign subsidiaries owned by a bank, ) regarding the effects of bank foreign affiliates complexity on bank risk and profitability over the 2011-2013 period
, EQ_TA: Equity to total assets, measure of leverage/bank capitalization ; IncomeDivers: measure of income diversification !"#$%&'()&*+ = 1 ? / 012 45216172 4589:1;<2=16 <>16?2@5A 458951 B92?C <>16?2@95A 4589:1 / ; CIR: Cost to income ratio ; Deposits_TA: Customer deposits and short-term funding to total assets ; Loans_TA: Net loans to total assets
, Restrictions is the index of the restrictiveness in the participation into bank activities such as securities, insurance, real estate and the ownership power in nonfinancial firms ; RegulCapital is an index of the stringency of the requirements in terms of minimum capital adequacy, risk and market value losses, sources of funding used to capitalize a bank and the level of official appraisal ; Supervision is the measure of the official power in all actions taken by the authorities to prevent and correct problems regarding auditing, internal/board/ownership rights structure, profits and losses and other balance sheets items ; GDP growth is the growth rate of the real gross domestic product; Concentration is the proportion of assets held by the three largest banks in a country over the total assets of the banking sector ; LegalStrength measures the degree to which collateral and bankruptcy laws protect the rights of borrowers and lenders and thus facilitate lending. We use the Hausman-Taylor specification with a clustering at the bank-level to estimate the ten equations of our model. Variables were winsorized at 1% and 99% levels to limit the influence of extreme values and the table reports robust standard errors in parentheses and the significance of p-value by *, Coop: dummy equal to one if the bank has a "Cooperative" banking specialization ; Savg: dummy equal to one if the bank has a "Savings" banking specialization
,
,
, New Zealand ; Philippines
, Vanuatu ; Vietnam ; Wallis and Futuna Number of EU banks with foreign activity -26
, Number of foreign affiliates -226 Number of foreign subsidiaries -81 Number of foreign branches -145
, Europe (EUR), p.44
,
, Austria (EU)
,
,
, Cyprus (EU)
,
,
,
,
,
,
,
,
, Latvia (EU) ; Liechtenstein
,
,
,
,
,
, Romania (EU
, San Marino ; Serbia
,
,
,
,
,
, Equatorial Guinea ; Ethiopia ; Gabon ; Gambia ; Ghana ; Guinea
,
,