| Summary: | 碩士 === 實踐大學 === 財務金融與保險研究所 === 98 === The study set out to discuss the correlations between bank investment and loans to SMEs, using panel data on 28 banks classified under four institutional levels, testing the threshold value of their derivatives trading as well as the impact of the financial variables.
Furthermore, in the large-sized banks, the two regimes of bank investment and loans to SME are found to be substitutes; indeed, we can determine that in the large-sized banks, bank investment has strong effects on loans, ultimately leading to these banks reducing their loan to SMEs. In medium-sized banks, bank investment and loans to SMEs are found to be complements in the less aggressive banks, and substitutes in the more aggressive banks; however, no statistical significance is found in the more aggressive banks. When the banks in the less aggressive group raise their level of investment, this has a positive effect on loans to SMEs. Finally, for small- and medium-sized banks, bank investment and loans to SME are found to be complements in the least aggressive and most aggressive banks, whereas they are found to be substitutes in the middle regime.
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