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Strategic Groups and Banks’ Performance

Gregorz Halaj ; National Bank of Poland, Warsaw, Poland
Dawin Zochowski ; European Central Bank, Frankfurt, Germany

Puni tekst: engleski, pdf (286 KB) str. 153-186 preuzimanja: 4.725* citiraj
APA 6th Edition
Halaj, G. i Zochowski, D. (2009). Strategic Groups and Banks’ Performance. Financial theory and practice, 33 (2), 153-186. Preuzeto s https://hrcak.srce.hr/39909
MLA 8th Edition
Halaj, Gregorz i Dawin Zochowski. "Strategic Groups and Banks’ Performance." Financial theory and practice, vol. 33, br. 2, 2009, str. 153-186. https://hrcak.srce.hr/39909. Citirano 29.02.2020.
Chicago 17th Edition
Halaj, Gregorz i Dawin Zochowski. "Strategic Groups and Banks’ Performance." Financial theory and practice 33, br. 2 (2009): 153-186. https://hrcak.srce.hr/39909
Harvard
Halaj, G., i Zochowski, D. (2009). 'Strategic Groups and Banks’ Performance', Financial theory and practice, 33(2), str. 153-186. Preuzeto s: https://hrcak.srce.hr/39909 (Datum pristupa: 29.02.2020.)
Vancouver
Halaj G, Zochowski D. Strategic Groups and Banks’ Performance. Financial theory and practice [Internet]. 2009 [pristupljeno 29.02.2020.];33(2):153-186. Dostupno na: https://hrcak.srce.hr/39909
IEEE
G. Halaj i D. Zochowski, "Strategic Groups and Banks’ Performance", Financial theory and practice, vol.33, br. 2, str. 153-186, 2009. [Online]. Dostupno na: https://hrcak.srce.hr/39909. [Citirano: 29.02.2020.]

Sažetak
The theory of strategic groups predicts the existence of stable groups of companies that adopt similar business strategies. The theory also predicts that groups will differ in performance and in their reaction to external shocks. We use cluster analysis to identify strategic groups in the Polish banking sector. We find stable groups in the Polish banking sector constituted after the year 2000 following the major privatisation and ownership changes connected with transition to the mostly-privately-owned banking sector in the late 90s. Using panel regression methods we show that the allocation of banks to groups is statistically significant in explaining the profitability of banks. Thus, breaking down the banks into strategic groups and allowing for the different reaction of the groups to external shocks helps in a more accurate explanation of profits of the banking sector as a whole.
Therefore, a more precise ex ante assessment of the loss absorption capabilities of banks is possible, which is crucial for an analysis of banking sector stability. However, we did not find evidence of the usefulness of strategic groups in explaining the quality of bank portfolios as measured by irregular loans over total loans, which is a more direct way to assess risks to financial stability.

Ključne riječi
strategic groups; financial stability; clustering; Ward algorithm; panel regression

Hrčak ID: 39909

URI
https://hrcak.srce.hr/39909

Posjeta: 4.955 *