商业银行中间业务外文文献翻译2014年译文3173字

外文出处：Dutt N, Hawn O. The Intermediary Business of Commercial Bank:An Overview[J]. Academy of Management Journal, 2014, 26: 117-132.

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原文

The Intermediary Business of Commercial Bank：An Overview

Dutt N, Hawn O

Abstract

Intermediate business does not constitute a commercial bank statement of assets, liabilities sheet, and the formation of banks1 non-interest income business. Intermediate business tying up funds for small business varieties, small risk, higher income, more and more attention of the commercial banks. Vigorously develop intermediary business beneficial to increase the sources of profits of commercial banks, help enhance the anti-risk ability of commercial banks, but also conducive to actively respond to the interest rate market and financial challenges "disintermediation" has a very important significance.

Keywords: Commercial Banks; Intermediary business; Characteristic; Classification

1 Introduction

At present, financial innovation is the main power to promote the development of the financial sector, financial innovation and the development of intermediary business is to do. The concept of innovation is first and foremost by Schumpeter, (1939) in its written "the economic cycle," believes that innovation is to build a new production function, we've never seen a production elements and production conditions of production combinations, is introduced into the process of social production system. With the development of the theory of innovation, innovation began to introduce the financial sector. West pare (Sliber, 1970) think is the main reason for financial innovation, financial enterprises in order to avoid facing the various internal and external restriction. Kane (Kane, 1978) argues that the government for various financial controls, limiting the financial industry's profitability and financial enterprises in order to avoid these controls, financial innovation will

vigorously.

Hicks (Hicks, 1981) studies financial innovation transaction costs, which is the purpose of financial innovation in order to decrease the cost of financial transactions. North (North, 1981) think any institutional change in the financial sector can be seen as a kind of financial innovation. Benven (1984) and Berger (1987) argues that as a result of the existence of information asymmetry, the regulator of deposit insurance system to limit the expansion of the commercial bank deposit and lending business, in order to seek new profit point, commercial Banks can only vigorously develop intermediary business. Christopher James (1989) consider from the Angle of investors, that commercial Banks rely on deposit and loan business and equity investment is unable to meet the requirements of investors on earnings, while the development of intermediary business can enhance the profit and competition ability of commercial Banks, so as to meet the requirements of investors. Except for the study of the theory of financial innovation, many foreign scholars also the risk of intermediary business and economic benefits for the related research.

M. K.H (1994) on the stock prices of listed Banks and intermediate business carries on the analysis, thought the intermediate business rarely brings marketability system risk, it can even reduce the risk of traditional business, which reduces the overall risk of commercial bank however Dara Kharabat (2002) is at the opposite point of view, he is studying the Japanese financial data of the 20 biggest Banks, thought in the development of intermediary business of commercial bank at the same time, should also consider the risk it contains, otherwise it may cause the risk of the entire financial system. Cebenovan (1989) studied the data of commercial Banks in New York, the intermediary business is obtained, and a variety of loan business between the more significant scope is not economic.

There are a number of studies on the changing patterns of the structure of banks' income with the inclusion of OBS activities. Among them, Rogers and Sinkey (1999:8) investigated the relationship between the non-traditional activities and some variables by analyzing financial statements of 8.931 banks for the period 1989-1993. They found a negative and significant relationship between net interest margin and