한⋅일 은행산업의 메타효율성 비교: 이윤을 바탕으로 (A Study on Meta- Efficiency Comparison Between Korean and Japanese Banking Industries: Based on Profit)

서지정보

· 발행기관 : 한일경상학회
· 수록지 정보 : 한일경상논집 / 98권 / 21 ~ 38페이지
· 저자명 : 김형태, 조일금, 강상목

초록

Purpose: This study aims to improve the competitiveness of the domestic banking industry by diagnosing the efficiency of the Japanese and Korean banking industries, which have similar financial environments such as long-term low growth and low interest rates.
Research design, data, and methodology: The research method uses probabilistic frontier analysis (SFA) and the form of a profit function based on five years (2015- 2019) data for 35 banks in Korea and Japan. This study estimates the individual frontiers of Korean and Japanese banking groups, and estimates the meta-frontiers that encompass the individual frontiers of Korean and Japanese banks operating with different technologies. In addition, the international technology gap between two countries is measured and meta-profit efficiency is calculated using the profit efficiency of each country and the international technology gap. Through this verification process, the management characteristics of countries leading the meta-frontier and the banking industry in that country are confirmed.
Furthermore, we regressively analyze the determinants of inefficiency for the profit and technology gap of the two national banking groups and draw implications. This study differs from previous studies in that it uses a probabilistic frontier analysis and a profit function for the international banking industry from a profit perspective.
Results: As a result of empirical analysis, first, in terms of profit efficiency by country, the Bank of Korea group is more efficient. However, in the international technology gap, the Japanese banking group is considerably ahead of Korea. Accordingly, in terms of meta profit efficiency, the Japanese banking group is ahead of Korea, which is due to the international technology gap. Second, the meta profit efficiency of Japan’s three major urban banks is the highest with an average of 0.91 for five years, and among them, Mitsubishi UFJ Bank was found to be the leading bank among all the research target banks. Third, it was analyzed that the profit efficiency improvement effect occurs only when the market concentration (HHI index) of both countries’ banking groups is increased and the net loan ratio is lowered.
Implications: Therefore, it was suggested that the banking industry of the two countries should increase their market dominance by increasing the beneficiary assets other than loans, because the increase in bad debts due to credit risk increases as the amount of loans increases and negatively affects the efficiency of banks

영어초록

Purpose: This study aims to improve the competitiveness of the domestic banking industry by diagnosing the efficiency of the Japanese and Korean banking industries, which have similar financial environments such as long-term low growth and low interest rates.
Research design, data, and methodology: The research method uses probabilistic frontier analysis (SFA) and the form of a profit function based on five years (2015- 2019) data for 35 banks in Korea and Japan. This study estimates the individual frontiers of Korean and Japanese banking groups, and estimates the meta-frontiers that encompass the individual frontiers of Korean and Japanese banks operating with different technologies. In addition, the international technology gap between two countries is measured and meta-profit efficiency is calculated using the profit efficiency of each country and the international technology gap. Through this verification process, the management characteristics of countries leading the meta-frontier and the banking industry in that country are confirmed.
Furthermore, we regressively analyze the determinants of inefficiency for the profit and technology gap of the two national banking groups and draw implications. This study differs from previous studies in that it uses a probabilistic frontier analysis and a profit function for the international banking industry from a profit perspective.
Results: As a result of empirical analysis, first, in terms of profit efficiency by country, the Bank of Korea group is more efficient. However, in the international technology gap, the Japanese banking group is considerably ahead of Korea. Accordingly, in terms of meta profit efficiency, the Japanese banking group is ahead of Korea, which is due to the international technology gap. Second, the meta profit efficiency of Japan’s three major urban banks is the highest with an average of 0.91 for five years, and among them, Mitsubishi UFJ Bank was found to be the leading bank among all the research target banks. Third, it was analyzed that the profit efficiency improvement effect occurs only when the market concentration (HHI index) of both countries’ banking groups is increased and the net loan ratio is lowered.
Implications: Therefore, it was suggested that the banking industry of the two countries should increase their market dominance by increasing the beneficiary assets other than loans, because the increase in bad debts due to credit risk increases as the amount of loans increases and negatively affects the efficiency of banks

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