References
- Allen, F., J. Qian, and M. Qian 2005. “Law, Finance, and Economic Growth in China.” Journal of Financial Economics 77 (1): 57–116. doi: 10.1016/j.jfineco.2004.06.010
- Altunbas, Y., L. Evans, and P. Molyneux 2001. “Bank Ownership and Efficiency.” Journal of Money, Credit, and Banking 33 (4): 926–954. doi: 10.2307/2673929
- Angbazo, L. 1997. “Commercial Bank Net Interest Margins, Default Risk, Interest-Rate Risk, and Off-Balance Sheet Banking.” Journal of Banking and Finance 21 (1): 55–87. doi: 10.1016/S0378-4266(96)00025-8
- Beck, T., and M. Peria 2010. “Foreign Bank Participation and Outreach: Evidence from Mexico.” Journal of Financial Intermediation 19 (1): 52–73. doi: 10.1016/j.jfi.2009.03.002
- Berger, A., G.R. G. Clarke, R. Cull, L. Klapper, and G.F. Udell 2005. “Corporate Governance and Bank Performance: A Joint Analysis of the Static, Selection, and Dynamic Effects of Domestic, Foreign, and State Ownership.” Journal of Banking and Finance 29 (8/9): 2179–2221. doi: 10.1016/j.jbankfin.2005.03.013
- Berger, A., I. Hasan, and M. Zhou 2009. “Bank Ownership and Efficiency in China: What Will Happen in the World's Largest Nation?”.” Journal of Banking and Finance 33 (1): 113–130. doi: 10.1016/j.jbankfin.2007.05.016
- Berger, A., I. Hasan, and M. Zhou 2010. “The Effects of Focus Versus Diversification on Bank Performance: Evidence from Chinese Banks.” Journal of Banking and Finance 34 (7): 1417–1435. doi: 10.1016/j.jbankfin.2010.01.010
- Bonin, J.P., I. Hasan, and P. Wachtel 2005. “Bank Performance, Efficiency and Ownership in Transition Countries.” Journal of Banking and Finance 29 (1): 31–53. doi: 10.1016/j.jbankfin.2004.06.015
- Cameron, A., J. Gelbach, and D. Miller 2011. “Robust Inference With Multi-Way Clustering.” Journal of Business and Economic Statistics 29 (2): 238–249. doi: 10.1198/jbes.2010.07136
- Chen, C., M. Firth, and L. Xu 2009. “Does the Type of Ownership Control Matter? Evidence from China's Listed Companies.” Journal of Banking and Finance 33 (1): 171–181. doi: 10.1016/j.jbankfin.2007.12.023
- Claessens, S., and N. van Horen 2012. “Being a Foreigner Among Domestic Banks: Asset or Liability?”.” Journal of Banking and Finance 36 (5): 1276–1290. doi: 10.1016/j.jbankfin.2011.11.020
- Clark, A.J., and T.F. Siems 2002. “X-Efficiency in Banking: Looking beyond the Balance Sheet.” Journal of Money, Credit and Banking 34 (4): 987–1013. doi: 10.1353/mcb.2002.0053
- Cornett, M.M., L. Guo, S. Khaksari, and H. Tehranian 2010. “The Impact of State Ownership on Performance Differences in Privately-Owned Versus State-Owned Banks: An International Comparison.” Journal of Financial Intermediation 19 (1): 74–94. doi: 10.1016/j.jfi.2008.09.005
- Demirgüç-Kunt, A., and H. Huizinga 2010. “Bank Activity and Funding Strategies: The Impact on Risk and Returns.” Journal of Financial Economics 98 (3): 626–650. doi: 10.1016/j.jfineco.2010.06.004
- DeYoung, R., and T. Rice 2004. “Noninterest Income and Financial Performance at U.S. Commercial Banks.” Financial Review 39 (1): 101–127. doi: 10.1111/j.0732-8516.2004.00069.x
- DeYoung, R., and K. Roland 2001. “Product Mix and Earnings Volatility at Commercial Banks: Evidence from a Degree of Leverage Model.” Journal of Financial Intermediation 10 (1): 54–84. doi: 10.1006/jfin.2000.0305
- DeYoung, R., and G. Torna forthcoming. “Nontraditional Banking Activities and Bank Failures During the Financial Crisis.” Journal of Financial Intermediation.
- Fan, G., X. Wang, and H. Zhu 2007. The Report on the Relative Process of Marketization of Each Region in China (2006), Beijing: Economic Science Press. (in Chinese).
- Favero, C.A., and L. Papi 1995. “Technical Efficiency and Scale Efficiency in the Italian Banking Sector: A Non-Parametric Approach.” Applied Economics 27 (4): 385–395. doi: 10.1080/00036849500000123
- Ferrier, G.D., S. Grosskopf, K. J, and S.Yaisawarng. Hayes 1993. “Economies of Diversification in the Banking Industry.” Journal of Monetary Economics 31 (2): 229–249. doi: 10.1016/0304-3932(93)90046-I
- Firth, M., O. M, and W.Wu. Rui 2011. “Cooking the Books: Recipes and Costs of Falsified Financial Statements in China.” Journal of Corporate Finance 17 (2): 371–390. doi: 10.1016/j.jcorpfin.2010.09.002
- Fu, X., and S. Heffernan 2007. “Cost X-Efficiency in China's Bank Sector.” China Economic Review 18 (1): 35–53. doi: 10.1016/j.chieco.2006.10.002
- Gormley, T.A. 2010. “The Impact of Foreign Bank Entry in Emerging Markets: Evidence from India.” Journal of Financial Intermediation 19 (1): 26–51. doi: 10.1016/j.jfi.2009.01.003
- Gorton, G., and R. Rosen 1995. “Corporate Control, Portfolio Choice, and the Decline in Banking.” Journal of Finance 50 (5): 1377–1419. doi: 10.1111/j.1540-6261.1995.tb05183.x
- Hassan, M.K. 1993. “The Off-Balance Sheet Banking Risk of Large U.S. Commercial Banks.” Quarterly Review of Economics and Finance 33 (1): 51–69. doi: 10.1016/1062-9769(93)90028-I
- Hassan, M.K., G.V. Karels, and M.O. Peterson 1994. “Deposit Insurance, Market Discipline and Off-Balance Sheet Banking Risk of Large U.S. Commercial Banks.” Journal of Banking and Finance 18 (3): 575–593. doi: 10.1016/0378-4266(94)90010-8
- Hassan, M.K., and W.H. Sackley 1994. “A Methodological Investigation of Risk Exposure of Bank Off-Balance Sheet Loan Commitment Activities.” Quarterly Review of Economics and Finance 34 (3): 283–299. doi: 10.1016/1062-9769(94)90028-0
- Hausman, J.A. 1978. “Specification Tests in Econometrics.” Econometrica 46 (6): 1251–1271. doi: 10.2307/1913827
- Hunter, W.C., and S.G. Timme 1986. “Technical Changes, Organizational Form, and the Structure of Bank Production.” Journal of Money, Credit, and Banking 18 (2): 152–156. doi: 10.2307/1992199
- Jia, C. 2009. “The Effect of Ownership on the Prudential Behavior of Banks – The Case of China.” Journal of Banking and Finance 33 (1): 77–87. doi: 10.1016/j.jbankfin.2007.03.017
- Kwan, S.H., and E.S. Laderman 1999. “On the Portfolio Effects of Financial Convergence – A Review of the Literature.” FRBSF Economic Reviews 2, 18–31.
- La Porta, R., F. Lopez-de-Silanes, A. Shleifer, and R. Vishny 2002. “Investor Protection and Corporate Valuation.” Journal of Finance 57 (3): 1147–1170. doi: 10.1111/1540-6261.00457
- Lin, X., and Y. Zhang 2009. “Bank Ownership Reform and Bank Performance in China.” Journal of Banking and Finance 33 (1): 20–29. doi: 10.1016/j.jbankfin.2006.11.022
- Opler, T., L. Pinkowitz, R. Stulz, and R. Williamson 1999. “The Determinants and Implications of Corporate Cash Holdings.” Journal of Financial Economics 52 (1): 3–46. doi: 10.1016/S0304-405X(99)00003-3
- Petersen, M. 2009. “Estimating Standard Errors in Financial Panel Data Sets: Comparing Approaches.” Review of Financial Studies 22 (1): 435–480. doi: 10.1093/rfs/hhn053
- Puri, M. 1996. “Commercial Banks in Investment Banking: Conflict of Interest or Certification Role?”.” Journal of Financial Economics 40 (3): 373–401. doi: 10.1016/0304-405X(95)00855-9
- Rangan, N., R. Garbowski, H.Y. Aly, and C. Pasurka 1988. “The Technical Efficiency of U.S. Banks.” Economics Letters 28 (2): 169–175. doi: 10.1016/0165-1765(88)90109-7
- Rogers, K.E. 1998. “Nontraditional Activities and Efficiency of US Commercial Banks.” Journal of Banking and Finance 22 (4): 467–482. doi: 10.1016/S0378-4266(98)00020-X
- Rogers, K.E., J.F. SinkeyJr. 1999. “An Analysis of Nontraditional Activities at US Commercial Banks.” Review of Financial Economics 8 (1): 25–39. doi: 10.1016/S1058-3300(99)00005-1
- Schulz, H. 2006. “Foreign Banks in Mexico: New Conquistadors or Agents of Change?.” The Wharton School, Financial Institutions Center, Working Paper No. 06–11, University of Pennsylvania, Pennsylvania.
- Staikouras, S., C. Risie, and G. Wood 2003. “Noninterest Income and Total Income Stability.” Bank of England Quarterly Bulletin 43, 332
- Stiroh, K.J. 2004a. “Diversification in Banking: Is Noninterest Income the Answer?”.” Journal of Money, Credit and Banking 36 (5): 853–882. doi: 10.1353/mcb.2004.0076
- Stiroh, K.J. 2004b. “Do Community Banks Benefit from Diversification?”.” Journal of Financial Services Research 25 (2/3): 135–160. doi: 10.1023/B:FINA.0000020657.59334.76
- Stiroh, K.J., and A. Rumble 2006. “The Dark Side of Diversification: The Case of US Financial Holding Companies.” Journal of Banking & Finance 30 (8): 2131–2161. doi: 10.1016/j.jbankfin.2005.04.030
- Thompson, S. 2006. “Simple Formulas for Standard Errors that Cluster by Both Firm and Time.” Working paper. Harvard University.
- White, H. 1980. “A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity.” Econometrica 48 (4): 817–838. doi: 10.2307/1912934
- Wu, D.-M. 1973. “Alternative Tests of Independence Between Stochastic Regressors and Disturbances.” Econometrica 41 (4): 733–750. doi: 10.2307/1914093