伊斯兰银行的成本效率低下会影响收益的不确定性吗?

IF 3.6 Q1 BUSINESS, FINANCE Review of Accounting and Finance Pub Date : 2022-12-23 DOI:10.1108/raf-07-2022-0193
Sabri Boubaker, Md Hamid Uddin, Sarkar H. Kabir, Sabur Mollah
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引用次数: 5

摘要

本文旨在探讨一个根本性的研究问题,即伊斯兰银行的商业模式是否会使企业盈利更具不确定性。这一问题的产生是因为先前的研究表明,伊斯兰银行在贷款绩效方面表现良好,但比传统银行产生更多的运营成本,这表明伊斯兰银行在商业风险管理方面存在系统性局限性。设计/方法/方法本研究以银行为样本,对全球23个穆斯林国家的532家银行(129家伊斯兰银行和403家传统银行)15年的数据进行了面板回归分析。作者通过样本期内国家调整收益的息差和标准差两种方式估计收益不确定性,并应用差中差法与伊斯兰银行虚拟模型相互作用成本与收入比率,检验伊斯兰银行的高运营成本是否会导致更多的收益不确定性。研究发现,由于运营成本较高,伊斯兰银行的资产回报率明显比传统银行更具不确定性。与早期的证据一致,该研究还发现,伊斯兰银行的不良贷款通常少于传统银行。作者得出结论,伊斯兰银行在降低信贷风险和增加商业风险之间进行权衡。原创性/价值本研究证明,伊斯兰银行模式有助于建立更安全的资产组合,但也带来了企业收益的不确定性。因此,在伊斯兰银行模式和传统银行模式之间的选择涉及信贷风险和商业风险之间的权衡。这是我们在伊斯兰金融文献中增加的一个新发现。
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Does cost-inefficiency in Islamic banking matter for earnings uncertainty?
Purpose This paper aims to investigate a fundamental research question of whether the Islamic banking business model makes corporate earnings more uncertain. This question arises because prior research shows that Islamic banks do well in loan performance but incur more operational costs than conventional banks, indicating the systemic limitation of Islamic banks in business risk management. Design/methodology/approach The study used a sample of banks to conduct the panel regression analysis with 15 years of data for 532 banks (129 Islamic and 403 conventional) from 23 Muslim countries across the world. The authors estimate earnings uncertainty in two ways: the spread and standard deviation of the country-adjusted return over the sample period and applied the difference-in-difference approach interacting cost to income ratio with the Islamic bank dummy, checking if Islamic bank’s high operational costs contribute to more earning uncertainty. Findings Islamic banks’ returns on assets are significantly more uncertain than conventional banks due to higher operational costs. Consistent with earlier evidence, the study also finds that Islamic banks generally have fewer nonperforming loans than conventional banks. The authors conclude that Islamic banks trade-off between reducing credit risk and escalating business risk. Originality/value This study documents that the Islamic banking model helps build a safer asset portfolio but gives rise to the uncertainty of corporate earnings. Therefore, the choice between Islamic and conventional banking models involves a trade-off between credit and business risks. It is a new finding that we add to the literature body on Islamic finance.
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来源期刊
CiteScore
4.30
自引率
0.00%
发文量
18
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