學術產出-Theses

Article View/Open

Publication Export

Google ScholarTM

政大圖書館

Citation Infomation

  • No doi shows Citation Infomation
題名 銀行海外擴張的因素探討與貪污對其影響
The Analysis of Overseas Expansions for MNBs: Determinants and Corruption`s Impact
作者 蔡淵禮
貢獻者 朱浩民<br>沈中華
蔡淵禮
關鍵詞 海外擴張
跨國銀行
貪污
海外營業據點
Overseas Expansion
Multinational Bank
Corruption
Foreign Office
日期 2009
上傳時間 8-Dec-2010 01:57:02 (UTC+8)
摘要 本文研究主題有二,第一,我們以全球1,000大銀行至40國家金融中心城市所設立的據點資料,探討全球大型銀行的海外擴張動機因素。第二,我們使用45個國家銀行在46個國家金融中心城市所設立的分行資料,探討貪污對銀行海外擴張的影響。第一個研究主題可得知全球大型銀行海外投資的一般性策略思維與吸引全球大型銀行投資的一般性誘因,不同於過去文獻以特定單一國家或先進國家銀行為研究對象,只能探究得知特定策略思維與特定吸引誘因;第二個研究主題可得知貪污在銀行跨國投資裡所扮演的角色,而此角色在過去銀行跨國投資文獻裡並未被探究。
  第一個研究主題,我們以折衷理論(eclectic theory)為基礎探究銀行海外擴張動機因素,依該理論得三項主要實證研究結果:所有權優勢方面,規模越大或經營績效越佳的銀行在海外擴張態度上較為積極;內部化優勢方面,銀行會選擇與來源國貿易往來密切的國家設立據點;區位優勢方面,業務機會、市場成長空間及熟悉度皆是吸引銀行設立海外據點的重要誘因。與我們預期相反的是,銀行喜歡進入業務高度限制的國家設立據點,其可能原因是這些國家的銀行市場有較高利潤與較大成長空間之故。
第二個研究主題,由實證研究得知,貪污會對跨國投資產生負向影響,亦即貪污會阻礙跨國銀行分行投資活動的進行。再者,我們進一步檢視兩國貪污環境差異的影響是否為負向與其負向影響是否會隨來源國貪污程度的增加而減少,亦即負向影響是否存在不對稱性,兩者皆得到證實。此結果顯示貪污差異性會增加跨國投資的進入成本,銀行因而較傾向在貪污環境相似的國家設立分行。不對稱的負向影響則意味著來自越貪污國家的銀行對於貪污環境差異性有相對較佳的適應能力,因此,我們建議銀行應培養高貪污環境政治風險因應能力以利跨國投資的進行。
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.
參考文獻 沈中華,2007。全球銀行海外擴張資料庫,台灣金融管理學會。
Ball, C. A. and A. E. Tschoegl, 1982. The Decision to Establish a Foreign Branch or Subsidiary: An Application of Binary Classification Procedures, Journal of Financial and Quantitative Analysis, 17(3), 411-424.
Barth, J., G. Caprio and R. Levine, 2001. The Regulation and Supervision of Banks around the World: A New Database, World Bank Policy Research Working Paper, No. 2588.
Beck, T., A. Demirgüç-Kunt and R. Levine, 2000. A New Database on Financial Development and Structure, World Bank Economic Review, 14(3), 597-605.
Brealey, R. A. and E. C. Kaplanis, 1996. The Determination of Foreign Banking Location, Journal of International Money and Finance, 15(4), 577-597.
Buch, C. M., 2000. Why Do Banks Go Abroad? Evidence from German Banks, Financial Markets, Institutions, and Instruments, 9(1), 33-67.
Buch, C. M., 2003. Information or Regulation: What Drives the International Activities of Commercial Banks?, Journal of Money, Credit and Banking, 35(6), 851-869.
Buch, C. M. and G. DeLong, 2004. Cross-border Bank Mergers: What Lures the Rare Animal?, Journal of Banking and Finance, 28(9), 2077-2102.
Buch, C. M., J. Kleinert, A. Lipponer and F. Toubal, 2005. Determinants and Effects of Foreign Direct Investment: Evidence from German Firm-level Data, Economic Policy, 20(1), 51-110.
Cerutti, E., G.. Dell’Ariccia and M. S. Martinez Peria, 2007. How Bank Go Abroad: Branches or Subsidiaries?, Journal of Banking and Finance, 31(6), 1669-1692.
Cho, K. R., 1986. Determinants of International Banks, Management International Review, 26(1), 10-23.
Claessens S. and N. Van Horen, 2007. Location Decisions of Foreign Banks and Competitive Advantage. World Bank Policy Research Working paper 4113.
Cuervo-Cazurra, A., 2006. Who Cares about Corruption?, Journal of International Business Studies, 37(6), 807-822.
Cuervo-Cazurra, A., 2008. Better the Devil You Don’t Know: Types of Corruption and FDI in Transition Economies, Journal of International Management, 14(1), 12-27.
Dunning, J. H., 1977. Trade, Location of Economic Activity and the MNE: A Search for an Eclectic Approach, in Ohlin B., P. Hesselborn and P. Wijkman (Eds.), The International Allocation of Economic Activity, London: Macmillan Press, 395-418.
Dunning, J. H., 1993. Trade, Location of Economic Activity and the MNE: A Search for an Eclectic Approach, in B. Ohlin et al. (Eds.), The International Allocation of Economic Activity, London: MacMillan Press, 395-418.
Easterly, W. and M. Sewadeh, 2001. Global Development Network Growth Database, Washington, DC, The World Bank.
Egger, P. and H. Winner, 2005. Evidence on Corruption as an incentive for Foreign Direct Investment, European Journal of Political Economy, 21(4), 932-952.
Elliot, K., 1997. Corruption as an International Policy Problem: Overview and Recommendations, in Elliot, K. (Eds.), Corruption and the Global Economy, Institute for International Economics, Washington: Institute for International Economics, 175-233.
Esperanca, J. P. and M. A. Gulamhussen, 2001. (Re)Testing the ‘Follow the Customer’ Hypothesis in Multinational Bank Expansion, Journal of Multinational Financial Management, 11(3), 281-293.
Fisher, A. and P. Molyneux, 1996. A Note on the Determinants of Foreign Bank Activity in London between 1980 and 1989, Applied Financial Economics, 6(3), 271-277.
Focarelli, D. and A. F. Pozzolo, 2000. The Determinants of Cross-Border Bank Shareholding: An Analysis with Bank-Level Data from OECD Countries, Temi di discussione 381, Bank of Italy, Economic Research Department.
Focarelli, D. and A. F. Pozzolo, 2001. The Patterns of Cross-border Bank Mergers and shareholdings in OECD Countries, Journal of Banking and Finance, 25(12), 2305-2337.
Focarelli, D. and A. F. Pozzolo, 2005. Where Do Banks Expand Abroad? An Empirical Analysis, Journal of Business, 78(6), 2435-2465.
Focarelli, D., F. Panetta and C. Salleo, 2002. Why do Bank Merge?, Journal of Money, Credit, and Banking, 34(4), 1047-1066.
Galindo, A., A. Micco and C. Serra, 2003. Better the Devil That You Know: Evidence on Entry Costs Faced by Foreign Banks, Inter-American Development Bank Working Paper, No. 477.
Ghemawat, P., 2001. Distance Still Matters: The Hard Reality of Global Expansion, Harvard Business Review, 79(8), 137-147.
Goldberg, L. G. and R. Grosse, 1994. Location Choice of Foreign Banks in the United States, Journal of Economics and Business, 46(5), 367-379.
Gray, J. and P. Gray, 1981. The Multinational Bank: A Financial MNC?,” Journal of Banking and Finance, 5(1), 33-63.
Greene, W. H., 2003. Econometric Analysis, New Jersey: Prentice Hall.
Grosse, R. and L. G. Goldberg, 1991. Foreign Bank Activity in the United States: An Analysis by Country of Origin, Journal of Banking and Finance, 15(6), 1093-1112.
Habib, M. and L. Zurawicki, 2002. Corruption and Foreign Direct Investment, Journal of International Business Studies, 33(2), 291-307.
Healy, P. M., K. G. Palepu and R. S. Ruback, 1992. Does Corporate Performance Improve after Mergers?, Journal of Financial Economics, 31(2), 135-175.
Hondroyiannis, G. and E. Papapetrou, 1996. International Banking Activity in Greece: The Recent Experience, Journal of Economics and Business, 48(3), 207-215.
Hultman, C. W. and L. R. McGee, 1989. Factors Affecting the Foreign Banking Presence in the U.S., Journal of Banking and Finance, 13(3), 383-396.
Huntington, S. P., 1968. Political Order in Changing Societies, New Haven: Yale University Press.
Jain, A. K., 2001. Corruption: A Review, Journal of Economic Surveys, 15(1), 71-121.
Jones, G., 1990. Banks as Multinationals, London: Routledge Publishing.
Kaufman, G. G., 2001. Emerging Economies and International Financial Centers, Review of Pacific Basin Financial Markets and Policies, 4(4), 365-377.
Leff, N., 1964. Economic Development through Bureaucratic Corruption, American Behavioral Scientist, 8(3), 8-14.
Leung, M. K., D. Rigby and T. Young, 2003. Entry of Foreign Banks in the People’s Republic of China: a Survival Analysis, Applied Economics, 35(1), 21-31.
Li, S., 2005. Why a Poor Governance Environment Does Not Deter Foreign Direct Investment: The Case of China and Its Implications for Investment Protection, Business Horizons, 48(4), 297-302.
Magri, S., A. Mori and P. Rossi, 2005. The Entry and the Activity Level of Foreign Banks in Italy: An Analysis of the Determinants, Journal of Banking and Finance, 29(5), 1295-1310.
Mauro, P., 1995. Corruption and Growth, Quarterly Journal of Economics, 110(3), 681-712.
Miller, S. R. and A. Parkhe, 1998. Patterns in the Expansion of U.S. Banks’ Foreign Operations, Journal of International Business Studies, 29(2), 359-390.
Mutinelli, M. and L. Piscitello, 2001. Foreign Direct Investment in the Banking Sector: The Case of Italian Banks in the ‘90s, International Business Review, 10(6), 661-685.
Rodriguez, P., K. Uhlenbruck and L. Eden, 2005. Government Corruption and The Entry Strategies of Multinationals, Academy of Management Review, 30(2), 383-396.
Ruffer, R. L. and J. P. Holcomb, 2001. To Build or Buy: An Empirical Study of the Characteristics Affecting a Bank’s Expansion Decisions, Journal of Economics and Business, 53(5), 481-495.
Shleifer, A. and R. W. Vishny, 1993. Corruption, Quarterly Journal of Economics, 108(3), 599-617.
Slager, A., 2006. The Internationalization of Banks: Patterns, Strategies and Performance, New York: Palgrave Macmillan Press.
Svensson, J., 2005. Eight Corruption about Corruption, Journal of Economic Perspectives, 19(3), 19-42.
Tschoegl, A. E., 1987. International Retail Banking as a Strategy: An Assessment, Journal of International Business Studies, 18(2), 67-88.
Uhlenbruck, K., P. Rodriguez, J. Doh and L. Eden, 2006. The Impact of Corruption on Entry Strategy: Evidence from Telecommunication Projects in Emerging Economies, Organization Science, 17(3), 402-414.
Ursacki T. and I. Vertinsky, 1992. Choice of Entry Timing and Scale by Foreign Banks in Japan and Korea, Journal of Banking and Finance, 16(2), 405-421.
Wei, S. J., 2000. How Taxing is Corruption on International Investors?, The Review of Economic and Statistics, 82(1), 1-11.
Williams, B., 1997. Positive Theories of Multinational Banking: Eclectic Theory versus Internalization Theory, Journal of Economic Surveys, 11(1), 71-100.
Yamori. N., 1997. Do Japanese Banks Lead or Follow International Business? An Empirical Investigation, Journal of International Financial Markets, Institutions and Money, 7(4), 369-382.
Yamori, N., 1998. A Note on the Location Choice of Multinational Banks: The Case of Japanese Financial Institutions, Journal of Banking and Finance, 22(1), 109-120.
描述 博士
國立政治大學
金融研究所
93352506
98
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0933525061
資料類型 thesis
dc.contributor.advisor 朱浩民<br>沈中華zh_TW
dc.contributor.author (Authors) 蔡淵禮zh_TW
dc.creator (作者) 蔡淵禮zh_TW
dc.date (日期) 2009en_US
dc.date.accessioned 8-Dec-2010 01:57:02 (UTC+8)-
dc.date.available 8-Dec-2010 01:57:02 (UTC+8)-
dc.date.issued (上傳時間) 8-Dec-2010 01:57:02 (UTC+8)-
dc.identifier (Other Identifiers) G0933525061en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/49019-
dc.description (描述) 博士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 金融研究所zh_TW
dc.description (描述) 93352506zh_TW
dc.description (描述) 98zh_TW
dc.description.abstract (摘要) 本文研究主題有二,第一,我們以全球1,000大銀行至40國家金融中心城市所設立的據點資料,探討全球大型銀行的海外擴張動機因素。第二,我們使用45個國家銀行在46個國家金融中心城市所設立的分行資料,探討貪污對銀行海外擴張的影響。第一個研究主題可得知全球大型銀行海外投資的一般性策略思維與吸引全球大型銀行投資的一般性誘因,不同於過去文獻以特定單一國家或先進國家銀行為研究對象,只能探究得知特定策略思維與特定吸引誘因;第二個研究主題可得知貪污在銀行跨國投資裡所扮演的角色,而此角色在過去銀行跨國投資文獻裡並未被探究。
  第一個研究主題,我們以折衷理論(eclectic theory)為基礎探究銀行海外擴張動機因素,依該理論得三項主要實證研究結果:所有權優勢方面,規模越大或經營績效越佳的銀行在海外擴張態度上較為積極;內部化優勢方面,銀行會選擇與來源國貿易往來密切的國家設立據點;區位優勢方面,業務機會、市場成長空間及熟悉度皆是吸引銀行設立海外據點的重要誘因。與我們預期相反的是,銀行喜歡進入業務高度限制的國家設立據點,其可能原因是這些國家的銀行市場有較高利潤與較大成長空間之故。
第二個研究主題,由實證研究得知,貪污會對跨國投資產生負向影響,亦即貪污會阻礙跨國銀行分行投資活動的進行。再者,我們進一步檢視兩國貪污環境差異的影響是否為負向與其負向影響是否會隨來源國貪污程度的增加而減少,亦即負向影響是否存在不對稱性,兩者皆得到證實。此結果顯示貪污差異性會增加跨國投資的進入成本,銀行因而較傾向在貪污環境相似的國家設立分行。不對稱的負向影響則意味著來自越貪污國家的銀行對於貪污環境差異性有相對較佳的適應能力,因此,我們建議銀行應培養高貪污環境政治風險因應能力以利跨國投資的進行。
zh_TW
dc.description.abstract (摘要) 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.
en_US
dc.description.tableofcontents 第1章 緒論 1
第2章 跨國銀行發展與擴張策略 4
第1節 跨國銀行發展歷程 4
第2節 跨國銀行擴張策略 9
第3章 銀行海外擴張因素探討 19
第1節 全球千大銀行海外擴張因素的探討動機 19
第2節 應用折衷理論的七個研究推論 22
第3節 實證模型與方法 26
第4節 資料來源說明與統計分析 29
第5節 七個研究推論的實證結果與分析 41
第6節 小結與討論 57
第4章 貪污定義與影響 60
第1節 貪污定義與衡量 60
第2節 貪污對經濟活動的影響 66
第5章 貪污對銀行海外擴張的影響 67
第1節 貪污議題對銀行擴張的重要性 67
第2節 貪污三項議題的文獻探討 70
第3節 研究設計與方法 74
第4節 貪污三項議題的實證結果與分析 80
第5節 小結與討論 92
第6章 總結 94
參考文獻 98
zh_TW
dc.language.iso en_US-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0933525061en_US
dc.subject (關鍵詞) 海外擴張zh_TW
dc.subject (關鍵詞) 跨國銀行zh_TW
dc.subject (關鍵詞) 貪污zh_TW
dc.subject (關鍵詞) 海外營業據點zh_TW
dc.subject (關鍵詞) Overseas Expansionen_US
dc.subject (關鍵詞) Multinational Banken_US
dc.subject (關鍵詞) Corruptionen_US
dc.subject (關鍵詞) Foreign Officeen_US
dc.title (題名) 銀行海外擴張的因素探討與貪污對其影響zh_TW
dc.title (題名) The Analysis of Overseas Expansions for MNBs: Determinants and Corruption`s Impacten_US
dc.type (資料類型) thesisen
dc.relation.reference (參考文獻) 沈中華,2007。全球銀行海外擴張資料庫,台灣金融管理學會。zh_TW
dc.relation.reference (參考文獻) Ball, C. A. and A. E. Tschoegl, 1982. The Decision to Establish a Foreign Branch or Subsidiary: An Application of Binary Classification Procedures, Journal of Financial and Quantitative Analysis, 17(3), 411-424.zh_TW
dc.relation.reference (參考文獻) Barth, J., G. Caprio and R. Levine, 2001. The Regulation and Supervision of Banks around the World: A New Database, World Bank Policy Research Working Paper, No. 2588.zh_TW
dc.relation.reference (參考文獻) Beck, T., A. Demirgüç-Kunt and R. Levine, 2000. A New Database on Financial Development and Structure, World Bank Economic Review, 14(3), 597-605.zh_TW
dc.relation.reference (參考文獻) Brealey, R. A. and E. C. Kaplanis, 1996. The Determination of Foreign Banking Location, Journal of International Money and Finance, 15(4), 577-597.zh_TW
dc.relation.reference (參考文獻) Buch, C. M., 2000. Why Do Banks Go Abroad? Evidence from German Banks, Financial Markets, Institutions, and Instruments, 9(1), 33-67.zh_TW
dc.relation.reference (參考文獻) Buch, C. M., 2003. Information or Regulation: What Drives the International Activities of Commercial Banks?, Journal of Money, Credit and Banking, 35(6), 851-869.zh_TW
dc.relation.reference (參考文獻) Buch, C. M. and G. DeLong, 2004. Cross-border Bank Mergers: What Lures the Rare Animal?, Journal of Banking and Finance, 28(9), 2077-2102.zh_TW
dc.relation.reference (參考文獻) Buch, C. M., J. Kleinert, A. Lipponer and F. Toubal, 2005. Determinants and Effects of Foreign Direct Investment: Evidence from German Firm-level Data, Economic Policy, 20(1), 51-110.zh_TW
dc.relation.reference (參考文獻) Cerutti, E., G.. Dell’Ariccia and M. S. Martinez Peria, 2007. How Bank Go Abroad: Branches or Subsidiaries?, Journal of Banking and Finance, 31(6), 1669-1692.zh_TW
dc.relation.reference (參考文獻) Cho, K. R., 1986. Determinants of International Banks, Management International Review, 26(1), 10-23.zh_TW
dc.relation.reference (參考文獻) Claessens S. and N. Van Horen, 2007. Location Decisions of Foreign Banks and Competitive Advantage. World Bank Policy Research Working paper 4113.zh_TW
dc.relation.reference (參考文獻) Cuervo-Cazurra, A., 2006. Who Cares about Corruption?, Journal of International Business Studies, 37(6), 807-822.zh_TW
dc.relation.reference (參考文獻) Cuervo-Cazurra, A., 2008. Better the Devil You Don’t Know: Types of Corruption and FDI in Transition Economies, Journal of International Management, 14(1), 12-27.zh_TW
dc.relation.reference (參考文獻) Dunning, J. H., 1977. Trade, Location of Economic Activity and the MNE: A Search for an Eclectic Approach, in Ohlin B., P. Hesselborn and P. Wijkman (Eds.), The International Allocation of Economic Activity, London: Macmillan Press, 395-418.zh_TW
dc.relation.reference (參考文獻) Dunning, J. H., 1993. Trade, Location of Economic Activity and the MNE: A Search for an Eclectic Approach, in B. Ohlin et al. (Eds.), The International Allocation of Economic Activity, London: MacMillan Press, 395-418.zh_TW
dc.relation.reference (參考文獻) Easterly, W. and M. Sewadeh, 2001. Global Development Network Growth Database, Washington, DC, The World Bank.zh_TW
dc.relation.reference (參考文獻) Egger, P. and H. Winner, 2005. Evidence on Corruption as an incentive for Foreign Direct Investment, European Journal of Political Economy, 21(4), 932-952.zh_TW
dc.relation.reference (參考文獻) Elliot, K., 1997. Corruption as an International Policy Problem: Overview and Recommendations, in Elliot, K. (Eds.), Corruption and the Global Economy, Institute for International Economics, Washington: Institute for International Economics, 175-233.zh_TW
dc.relation.reference (參考文獻) Esperanca, J. P. and M. A. Gulamhussen, 2001. (Re)Testing the ‘Follow the Customer’ Hypothesis in Multinational Bank Expansion, Journal of Multinational Financial Management, 11(3), 281-293.zh_TW
dc.relation.reference (參考文獻) Fisher, A. and P. Molyneux, 1996. A Note on the Determinants of Foreign Bank Activity in London between 1980 and 1989, Applied Financial Economics, 6(3), 271-277.zh_TW
dc.relation.reference (參考文獻) Focarelli, D. and A. F. Pozzolo, 2000. The Determinants of Cross-Border Bank Shareholding: An Analysis with Bank-Level Data from OECD Countries, Temi di discussione 381, Bank of Italy, Economic Research Department.zh_TW
dc.relation.reference (參考文獻) Focarelli, D. and A. F. Pozzolo, 2001. The Patterns of Cross-border Bank Mergers and shareholdings in OECD Countries, Journal of Banking and Finance, 25(12), 2305-2337.zh_TW
dc.relation.reference (參考文獻) Focarelli, D. and A. F. Pozzolo, 2005. Where Do Banks Expand Abroad? An Empirical Analysis, Journal of Business, 78(6), 2435-2465.zh_TW
dc.relation.reference (參考文獻) Focarelli, D., F. Panetta and C. Salleo, 2002. Why do Bank Merge?, Journal of Money, Credit, and Banking, 34(4), 1047-1066.zh_TW
dc.relation.reference (參考文獻) Galindo, A., A. Micco and C. Serra, 2003. Better the Devil That You Know: Evidence on Entry Costs Faced by Foreign Banks, Inter-American Development Bank Working Paper, No. 477.zh_TW
dc.relation.reference (參考文獻) Ghemawat, P., 2001. Distance Still Matters: The Hard Reality of Global Expansion, Harvard Business Review, 79(8), 137-147.zh_TW
dc.relation.reference (參考文獻) Goldberg, L. G. and R. Grosse, 1994. Location Choice of Foreign Banks in the United States, Journal of Economics and Business, 46(5), 367-379.zh_TW
dc.relation.reference (參考文獻) Gray, J. and P. Gray, 1981. The Multinational Bank: A Financial MNC?,” Journal of Banking and Finance, 5(1), 33-63.zh_TW
dc.relation.reference (參考文獻) Greene, W. H., 2003. Econometric Analysis, New Jersey: Prentice Hall.zh_TW
dc.relation.reference (參考文獻) Grosse, R. and L. G. Goldberg, 1991. Foreign Bank Activity in the United States: An Analysis by Country of Origin, Journal of Banking and Finance, 15(6), 1093-1112.zh_TW
dc.relation.reference (參考文獻) Habib, M. and L. Zurawicki, 2002. Corruption and Foreign Direct Investment, Journal of International Business Studies, 33(2), 291-307.zh_TW
dc.relation.reference (參考文獻) Healy, P. M., K. G. Palepu and R. S. Ruback, 1992. Does Corporate Performance Improve after Mergers?, Journal of Financial Economics, 31(2), 135-175.zh_TW
dc.relation.reference (參考文獻) Hondroyiannis, G. and E. Papapetrou, 1996. International Banking Activity in Greece: The Recent Experience, Journal of Economics and Business, 48(3), 207-215.zh_TW
dc.relation.reference (參考文獻) Hultman, C. W. and L. R. McGee, 1989. Factors Affecting the Foreign Banking Presence in the U.S., Journal of Banking and Finance, 13(3), 383-396.zh_TW
dc.relation.reference (參考文獻) Huntington, S. P., 1968. Political Order in Changing Societies, New Haven: Yale University Press.zh_TW
dc.relation.reference (參考文獻) Jain, A. K., 2001. Corruption: A Review, Journal of Economic Surveys, 15(1), 71-121.zh_TW
dc.relation.reference (參考文獻) Jones, G., 1990. Banks as Multinationals, London: Routledge Publishing.zh_TW
dc.relation.reference (參考文獻) Kaufman, G. G., 2001. Emerging Economies and International Financial Centers, Review of Pacific Basin Financial Markets and Policies, 4(4), 365-377.zh_TW
dc.relation.reference (參考文獻) Leff, N., 1964. Economic Development through Bureaucratic Corruption, American Behavioral Scientist, 8(3), 8-14.zh_TW
dc.relation.reference (參考文獻) Leung, M. K., D. Rigby and T. Young, 2003. Entry of Foreign Banks in the People’s Republic of China: a Survival Analysis, Applied Economics, 35(1), 21-31.zh_TW
dc.relation.reference (參考文獻) Li, S., 2005. Why a Poor Governance Environment Does Not Deter Foreign Direct Investment: The Case of China and Its Implications for Investment Protection, Business Horizons, 48(4), 297-302.zh_TW
dc.relation.reference (參考文獻) Magri, S., A. Mori and P. Rossi, 2005. The Entry and the Activity Level of Foreign Banks in Italy: An Analysis of the Determinants, Journal of Banking and Finance, 29(5), 1295-1310.zh_TW
dc.relation.reference (參考文獻) Mauro, P., 1995. Corruption and Growth, Quarterly Journal of Economics, 110(3), 681-712.zh_TW
dc.relation.reference (參考文獻) Miller, S. R. and A. Parkhe, 1998. Patterns in the Expansion of U.S. Banks’ Foreign Operations, Journal of International Business Studies, 29(2), 359-390.zh_TW
dc.relation.reference (參考文獻) Mutinelli, M. and L. Piscitello, 2001. Foreign Direct Investment in the Banking Sector: The Case of Italian Banks in the ‘90s, International Business Review, 10(6), 661-685.zh_TW
dc.relation.reference (參考文獻) Rodriguez, P., K. Uhlenbruck and L. Eden, 2005. Government Corruption and The Entry Strategies of Multinationals, Academy of Management Review, 30(2), 383-396.zh_TW
dc.relation.reference (參考文獻) Ruffer, R. L. and J. P. Holcomb, 2001. To Build or Buy: An Empirical Study of the Characteristics Affecting a Bank’s Expansion Decisions, Journal of Economics and Business, 53(5), 481-495.zh_TW
dc.relation.reference (參考文獻) Shleifer, A. and R. W. Vishny, 1993. Corruption, Quarterly Journal of Economics, 108(3), 599-617.zh_TW
dc.relation.reference (參考文獻) Slager, A., 2006. The Internationalization of Banks: Patterns, Strategies and Performance, New York: Palgrave Macmillan Press.zh_TW
dc.relation.reference (參考文獻) Svensson, J., 2005. Eight Corruption about Corruption, Journal of Economic Perspectives, 19(3), 19-42.zh_TW
dc.relation.reference (參考文獻) Tschoegl, A. E., 1987. International Retail Banking as a Strategy: An Assessment, Journal of International Business Studies, 18(2), 67-88.zh_TW
dc.relation.reference (參考文獻) Uhlenbruck, K., P. Rodriguez, J. Doh and L. Eden, 2006. The Impact of Corruption on Entry Strategy: Evidence from Telecommunication Projects in Emerging Economies, Organization Science, 17(3), 402-414.zh_TW
dc.relation.reference (參考文獻) Ursacki T. and I. Vertinsky, 1992. Choice of Entry Timing and Scale by Foreign Banks in Japan and Korea, Journal of Banking and Finance, 16(2), 405-421.zh_TW
dc.relation.reference (參考文獻) Wei, S. J., 2000. How Taxing is Corruption on International Investors?, The Review of Economic and Statistics, 82(1), 1-11.zh_TW
dc.relation.reference (參考文獻) Williams, B., 1997. Positive Theories of Multinational Banking: Eclectic Theory versus Internalization Theory, Journal of Economic Surveys, 11(1), 71-100.zh_TW
dc.relation.reference (參考文獻) Yamori. N., 1997. Do Japanese Banks Lead or Follow International Business? An Empirical Investigation, Journal of International Financial Markets, Institutions and Money, 7(4), 369-382.zh_TW
dc.relation.reference (參考文獻) Yamori, N., 1998. A Note on the Location Choice of Multinational Banks: The Case of Japanese Financial Institutions, Journal of Banking and Finance, 22(1), 109-120.zh_TW