Browsing by Subject "osuuspankit"

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  • Hasan, Iftekhar; Jackowicz, Krzysztof; Kowalewski, Oskar; Kozłowski, Łukasz (2014)
    Bank of Finland Research Discussion Papers 22/2014
    Published as "Do local banking market structures matter for SME financing and performance? New evidence from an emerging economy" in Journal of Banking and Finance, 79, June 2017: 142-158
    In this paper, by employing a novel approach, we study the relationship between bank type and small-business lending in a post-transition country. Using a unique dataset on bank branches and firm-level data, we find that local cooperative banks lend more to small businesses than do large domestic banks and foreign-owned banks, even when controlling for the financial situation of the cooperative banks. Additionally, our results suggest that cooperative banks provide loans to small businesses at lower costs than foreign-owned banks or large domestic banks. Finally, we show that small and medium-sized firms perform better in counties with a large number of cooperative banks than in counties dominated by foreign-owned banks or large domestic banks. Our results are important from a policy perspective, as they show that foreign bank entry and industry consolidation may raise valid concerns for small firms in developing countries. Keywords: small-business lending, cooperative banks, foreign banks, post-transition countries
  • Hasan, Iftekhar; Jackowicz, Krzysztof; Kowalewski, Oskar; Kozłowski, Łukasz (2017)
    Journal of Banking and Finance June
    Published in BoF 22/2014.
    This paper investigates the relationship between local banking structures and SMEs’ access to debt and performance. Using a unique dataset on bank branch locations in Poland and firm-, county-, and bank-level data, we conclude that a strong position for local cooperative banks facilitates access to bank financing, lowers financial costs, boosts investments, and favours growth for SMEs. Moreover, counties in which cooperative banks hold a strong position are characterized by a more rapid pace of new firm creation. The opposite effects appear in the majority of cases for local banking markets dominated by foreign-owned banks. Consequently, our findings are important from a policy perspective because they show that foreign bank entry and industry consolidation may raise valid concerns for SME prospects in emerging economies.
  • Kuussaari, Harri (1993)
    Bank of Finland Research Discussion Papers 14/1993
    The study is concerned with measuring and explaining producer performance in Finnish local banking. Primary interest is in the production of retail banking services. The main objective is to find out how large and what kind of relative efficiency differences has there been in Finnish local banking. The overall productive efficiency will be decomposed into technical efficiency and scale efficiency. Technical inefficiencies are generally a result of wasteful use of inputs which is due to differences in managerial abilities to control costs and maximize revenues. Scale inefficiency on its half occurs when a bank's size is not optimal i.e. average costs are not minimized. Total productivity of local banks is studied with Malmquist-indices. Productivity growth will be decomposed into effects of technological advancement and to change of technical efficiency. One purpose of this study is to empirically look at the implications of bank mergers for efficiency and productivity. Time period under study is from 1985 to 1990. The data includes all Finnish cooperative and savings banks. Relatively efficient production frontier is constructed using a non-parametric linear programming method called data envelopment analysis (DEA). The main result of the efficiency analysis is that technical inefficiencies dominate scale inefficiencies in Finnish local banking. Distributions of technical inefficiencies are similar for cooperative and savings banks, but savings banks were found to be slightly more scale inefficient. Since it is possible that an average bank is continuously about 20 % more inefficient than the best practice banks, it appears that there is not much competitive pressure to control costs. The large and persistent cost efficiency differences between banks of similar size and product mix suggest that greater competition within the banking industry would be beneficial. The main result of the productivity analysis is that average productivity growth was found to be totally due to technological progress rather than improvements in relative efficiency.
  • Bank of Finland (1964)
    Bank of Finland. Series D 2
    I The Background...1 II Measures outside the money and capital markets...2 III The index clause on te domestic bond market...4 IV The index clause in private insurance...9 V Public's depostis in banking institutions...10 VI Index-tied lending...12 VII The abolition of index linkages in 1968...17