We use a data‐driven classification of systemically important European banks into business models based on confidential granular supervisory data and investigate whether banks following different models differ with respect to their capitalisation and profitability. Our aim is to locate the banks' business model in a risk‐return space. Using an instrumental variables approach, our econometric methodology addresses potential endogeneity issues. Overall, we find that wholesale funded and securities holding banks are positioned on a relatively high risk‐return trade‐off plane compared with commercial banks. On the other hand, traditional commercial banks earn lower returns with moderate risk.

中文翻译：

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银行的商业模式是否会影响其资本和盈利能力？

我们基于机密的监管数据，使用对系统重要的欧洲银行进行数据驱动的分类，将其分类为业务模型，并调查遵循不同模型的银行在资本和盈利能力方面是否有所不同。我们的目标是在风险收益空间中定位银行的业务模式。通过使用工具变量方法，我们的计量经济学方法论解决了潜在的内生性问题。总体而言，我们发现与商业银行相比，批发基金和证券控股银行处于相对较高的风险收益权衡平面上。另一方面，传统商业银行的收益较低，风险中等。