신흥시장 글로벌은행의 환위험 관리능력 : 재무역량, 수익구조, 기업특유속성 = The Foreign Exchange Exposure of Global Banks from Emerging Markets and their Capabilities : Financial Soundness, Income Structure, and Firm-specific Advantages

다국어 초록 (Multilingual Abstract)

This paper examines the main determinants of foreign exchange rate exposure to cover the years of 2005 to 2017 for 102 global banks from 6 emerging markets. It employs the data from Thomson Reuters Datastream and Bankscope and applies the panel model to the empirical analysis, which was qualified by the methodological verification of the competing approaches such as OLS and Panel method. The main findings of this paper are: (1) PBR, PV, TIER, LOAN, FITI, and TASS are negatively associated with the foreign exchange rate exposure with a statistical significance. In contrast, NPLR is statistically and positively associated with the foreign exchange rate exposure. As such, growth opportunity, stability of market value, financial soundness, financial liquidity, global divercification, and monopolistic advantages make the foreign exchange rate exposure increase, while risk management capabilities lead to the decrease in the foreign exchange rate exposure. Therefore, global banks from emerging markets need to manage firm-specific advantages and financial capabilities in a process of global diversification and seek for a strategy so as to control the level of the foreign exchange rate exposure in a proper way. In addition, they simultaneously are strongly urged to intensify the risk management capabilities resulting in the decrease in the general level of foreign exchange rate exposure.

참고문헌 (Reference)

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