1、1650单词， 9400英文字符， 3000汉字 文献出处： Aktan B, Chan S G, Zikovic S, et al. Off-balance sheet activities impact on commercial banks performance: an emerging market perspectiveJ. Ekonomska Istrazivanja ,2013, 26: 117-132. http:/w ww.w 原文 OFF-BALANCE SHEET ACTIVITIES IMPACT ON COMMERCIAL BANKS PERFORMANCE: A
2、N EMERGING MARKET PERSPECTIVE Bora; Sok ; Sasa; Pinar ABSTRACT This paper examines the effect of off-balance sheet (OBS) activities on performance of the banks listed on Istanbul Stock Exchange (ISE). We use four measures of performance including banks risk exposures, profitability, leverage, and li
3、quidity position. We find that both bank-specific risk and foreign exchange rate risk are positively related with OBS activities. This indicates that OBS activities increase bank-specific and foreign exchange risk exposures of the banks in Turkey. The positive relationship might serve as a warning t
4、o banks speculative action using OBS transactions in the market. The results also indicate that OBS activities, due to its hedging perception, improve banks stock returns but have a negative impact on return on equity. In addition, OBS activities do not have a statistically significant impact on lev
5、erage or liquidity. Keywords: Banking; Off-balance sheet activities; Risk exposure; Istanbul Stock Exchange; Turkey 1. INTRODUCTION 商业银行的中间业 务 In todays financial markets, one of the striking developments is the increasing tendency of banks to engage in off-balance sheet (OBS) activities. In recent
6、years the development and deregulation of the financial markets, improvements in financial innovation and decreases in banks margins, as a result of low-quality loan applicants, encourage the banks to offer new products and services to increase their profits (Jurman, 2005). Edwards and Mishkin (1995) argue that the rate of traditional banking has been decreasing while the OBS activities have been increasing. Decreasing profitability of tradition
