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The Business Model of Social Banks
Kyklos ( IF 1.796 ) Pub Date : 2020-05-01 , DOI: 10.1111/kykl.12221
Simon Cornée , Panu Kalmi , Ariane Szafarz

Based on an extensive literature review, this paper proposes to define social banks (SBs) as social enterprises that run banking activities with the social mission of supplying credit to other social enterprises, which are typically less profitable than for-profit businesses. This definition marks our starting point for developing a theoretical framework to explain how SBs survive without subsidies in the banking market. We build on a two-pillar business model of value-based financial intermediation, which comprises an ownership structure that limits residual ownership claims and preferential credit conditions associated with financial sacrifices from motivated depositors. We also clarify the link between SBs and stakeholder banks and weigh up the importance of market interest rates for facilitating the business of SBs. An empirical analysis based on panel regressions on 5,400 European banks over the 1998-2013 period attests to the relevance of our theoretical framework. It also confirms that a low interest rate environment raises concerns about the sustainability of the SB business model.

中文翻译:

社会银行的商业模式

基于广泛的文献综述,本文建议将社会银行 (SB) 定义为经营银行活动的社会企业,其社会使命是向其他社会企业提供信贷,这些社会企业的利润通常低于营利性企业。这个定义标志着我们开发一个理论框架来解释 SB 如何在没有补贴的情况下在银行市场上生存的起点。我们建立在基于价值的金融中介的两大支柱业务模型之上,其中包括限制剩余所有权索取权的所有权结构和与积极的存款人的财务牺牲相关的优惠信贷条件。我们还澄清了 SB 与利益相关银行之间的联系,并权衡了市场利率对促进 SB 业务的重要性。基于 1998 年至 2013 年期间 5,400 家欧洲银行的面板回归的实证分析证明了我们理论框架的相关性。它还证实,低利率环境引发了对 SB 商业模式可持续性的担忧。
更新日期:2020-05-01
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