英语翻译3.THE SCP FRAMEWORK IN MALAYSIAN BANKINGThis section pro

英语翻译
3.THE SCP FRAMEWORK IN MALAYSIAN BANKING
This section provides a discussion on the model specification and the various measures of performance
and concentration used.In addition,market share variables and control variables utilised for this
investigation are also discussed.
3.1 Model Specification
The traditional SCP hypothesis can be tested by estimating the profit equation following,for example,
Weiss (1974),Smirlock et al.(1984),Smirlock (1985),Evanoff and Fortier (1988),Lloyd-Williams et
al.(1994),Molyneux and Forbes (1995):
pi = ¦(Cm,Mi,Vi) + ei (1)
where pi is a measure of profitability of bank i,Cm is a measure of concentration (also known as a
market structure measure) in banking market m,Mi is a measure of market share of bank i,Vi is a vector
of control variables for bank i to account for firm-specific and market-specific characteristics,and ei is
an error term for bank i.
In testing the competing hypotheses,efficiency is implicitly assumed in terms of the market share
variable.Hence,market share is a proxy variable for efficiency.Under this assumption,therefore,the
most efficient firms will have greater market share at the expense of the less efficient ones.Smirlock
(1985) showed that if the parameter estimates of Cm are statistically greater than zero and the parameter
estimates of Mi are zero,the SCP hypothesis prevails over the ES hypothesis.However,if the parameter
estimates of Mi are greater than zero while the parameter estimates of Cm is zero,then the SCP
hypothesis is rejected.
3.2 Measures of Performance
Two measures of performance (profit rates) that have been used in most structure-performance studies
will also be used.These measures are the ratio of profit before tax to total assets (RROAB) and the ratio
of profit before tax to shareholders fund (RROEB).In addition,we include also another measure of
performance,the ratio of profit before tax plus staff expenses to total assets (RROAS).Gross profits (or
profits before taxation) also include loan loss provision but do not include extraordinary item.4
To capture the pricing ability of banks,this study will also include one other measure of performance,
NIMTA,which is the ratio of net interest margin (defined as the difference between interest income and
interest expense) to total assets rather than deposit rates or loan rates.Goldberg and Rai (1996) argued
that using either deposit rates or loan rates may not provide the true behaviour of banks because banks
can be very competitive with one rate and non-competitive with the other.
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3.马来西亚银行业的SCP框架
本节提供一个讨论的型号规格和性能的各种措施
和集中使用.此外,市场份额变量和控制变量利用本
调查进行了讨论.
3.1型号规格
传统的SCP的假说,可以测试的利润估计下面的公式,例如,
魏斯（1974）,Smirlock等.（1984年）,Smirlock（1985）,Evanoff和捷（1988）,劳合社,威廉姆斯等
报.（1994年）,Molyneux和福布斯（1995）：
丕= |（厘米,米,六）+荣（1）
如圆周率是一个盈利的银行i措施,Cm的是一种集中的措施（也称为
市场结构衡量银行业市场米）,米是市场对银行我同意的措施,六是矢量
对银行i控制变量占特定公司和市场的具体特点,与EI是
一银行误差项岛
在相互竞争的假设检验,效率是含蓄地假设上海的市场条件