TAPCHlCONGTHIfKNG
DO LlTCfNG NANG Ll/C CANH TRANH CUA CAC NGAN HANG THl/CfNG MAI
VIET NAM QUA HAI CHI SO:
LERNER VA BOONE
• PHAM TH! HA AN
TOM TAT:
Nghidn citu xem xet sir khac niiau ve nang ltfc canh tranh (NLCT) ciia 30 ngan hang thitcfng mai (NHTM) Viet Nam trong giai doan 2008 - 2017 qua 2 chi soLerner (1930) va Boone (2008), qua do tim ra each thu'c do ludng NLCT cua cac NHTM Viet Nam phd hdp. Ket qua cho tha'y cac ket qua nghien ciJu khong hoan toan thong niia't vdi nhau. Trong ktii chi so' Lemer chi ra canh tranh trong nam 2012 di§n ra khoe liet nha't thi chi s6' Boone lai cho thafy rang nam 2011 mdi la dinh diem ciia canh tranh. Thong qua ket qua phan tich moi tirong quan cap giifa cac chi so cho tha'y, do ludng NLCT cOa cac NHTM thong qua chi so Lemer da phdn anh NLCT dtldc cai tie'n theo thdi gian. Vi vay, viec sti" dung chi s6' Lemer la phti hdp hdn chi so Boone trong cac mo hinh do ludng NLCT cua cac NHTM.
Tit khoa: Nang lUc canh tranh, canh tranh, Lemer, Boone.
1. Gidi thi^u
Nhu'ng nam gan diiy, nganh Ngan hang tai Viet Nam da co nhitng thay ddi dang ke trong dieu kien canh tranh. Cac ye'u td' gdp phan tao ra nhiing thay ddi quan trong trong ca'u trtic thi trUdng bao gom: cd phan hoa, cac cai each tai chinh, bai bo quy dinh, ian song sap nhap va mua lai, cung vdi sU gia tang cua ngan hang nddc ngoai. Ben canh dd, hpi nhap kinh te qudc te trd thilnh mgt xu the thdi dai va diin ra manh me tren nhieu ITnh vuc tai Viet Nam: Viet Nam nd lUc de trd thanh mot phan cd ddng gop tich cdc cua nen kinh te loan cau, la thanh vien chinh thiJc thii" 150 cua Td chiJc Thu'dng mai The gidi CWTO) ngay 07/11/2006.
Ciing vdi sir phat trien ciia thdi dai cong nghe vUdt trdi 4.0 va hoi nhap Hiep dinh ddi tac chidn lUdc xuyen Thai Binh Dddng (CPTPP), cang nhit chuan
bi cho viec hgi nhap chinh thttc vao cong ddng kinh te'ASEAN (AEC); viec thdc hien Ig Mnh cam ket qudc te trong iinh vUc tai chinh, he tho'ng ngar hang thudng mai Viet Nam se ddn nhSn nhieu cc hgi cung nhif ddi dien khong it thach thdc va khe khan. Theo dd, song song vdi viec vUdn ra th trudng the gidi, Viet Nam cung phai md cda th trudng trong nddc, trong do cd linh vdc tai chi'nh ngan hang. Ngi dung td dg hda dich vu tai chint cho phep ngan hang nudc ngoai khong can cd si
"hien dien''tai Viel Nam nhifng v5n dUdc cunj cap san pham, dich vu tai chinh cho ngtfdi dSn Trgng bdi canh chung dd, NHTM Viet Nam pha- chu ddng nhan thdc va san sang tham gia vao qui trlnh hgi nhap va canh tranh khi thi trtfdng tront ntfdc khong cdn mdc bSo hg cao nhd trddc cai.
ngan hiing se phai canh tranh tien pham vi'toiii
320 So 12-Tliang 7/2019
TAI CHiNH-NGAN HANG-BAO HIEM
can va canh tranh ngay tai san nha. Qua trinh hoi nhap kinh te quoc te se tao ra siJc ep ngay cang ien hdn cho hoat dong kinh doanh cua NHTM Viet Namtrong Idii ldi the nhif quy mo von, con ngu'di, cong nghe dang thuoc ve cac NHTM nirdc ngoai.
B^chiemdu'dcifuthd', tan dung ccJhOi va gia tang Ihl phan, NHTM Viat Nam dang tufng biTdc cai tiiien kha nang noi tai de nang cao NLCT cua minh,
Tuynhien, nghien cu'u ve NLCT da co lich siJ phat trien lau dai ve cd sd li thuyet: nhieu mo hinh vdi cac chi so' do lu'dng canh tranh ra ddi va difcfcsiJdung rpng rai trong nhieu nghien cilu han lam.lrongdophaike denla chi s6'Lerner (1930), chl so H cua Rosse-Panzar (1987), va chi so' Boone (2008). M6 hinh Lemer the hien kha nang ma mgt cong ty cd the dinh gia cao hdn chi phi bien (MC). Stf ra ddi cua mo hmh Boone (2008) labi/(3c phat trien mdi, vlcanh tranh trong nganh Nganhangco the nhan bie't qua ti^ngnam. Trong nghien citu nay, tac gia tien hanh xem xet su"
khknhau ve NLCT cua 30 NHTM Viet Nam trong giai doan 2008 - 2017 bSng hai chi so' Lerner va Boone, qua do tim ra each thiJc do MngNLCT cua cac NHTM Viet Nam phu hop.
2. Crf sdly thuyet
li. Ndng lUc cqnh tranh cua NHTM Kazarenkova (2006) dinh nghla, NLCT ngan ti^ng la kha nang thifc te cung nhtf tiem nang cua mfitto chiJc tin dung de tao ra va phat trien nhifng s^npham dich vu mang linh canh tranh cao tren Ihi tn/dng nham xay dtfng hinh anh lich cifc cua moi ngan hang hi^n dai dang tm cay trong vi$c
%tfng cac nhu cau tiy phia khach hang Gorditsa (2012) cho r^ng, NLCT cua cac fiHTM irong dieu kien hien dai du'dc xac dinh bdi tnifc do dap lfng cua no doi vdi cac nhu cau cua IJiachhang va ty le gia tang khach hang cua ngan liang.
TheoNguySn Thi Quy (2008), NLCT cua mpt i?an hang la kha nang ngan hang dd tao ra, duy tri
^'_^ phat trien nhffng loi the nham duy tri va md f?igflii ph^n; dat dtfOc mu'c ldi nhuan cao hdn mu'c '™iigbinh cua nganh va hen tuc tang, dong thdi wmbao hoat d6ng an loan va lanh manh, cd kha
"angchong dd va vtfdt qua nhu'ng bien dgng bat ldi
^"amoitnfdng kinh doanh.
_ Mhi/vay, cd Ihi hieu NLCT cua NHTM la kha i^ngdochinh ngan hang taora tren cdsdnSm bat
kip thdi cac cd hoi de duy tn va phat tri^n nhiing ldi the von cd nham cung cd va md rong thi phtn, gia tang ldi nhuan, chong dd va vtfdt qua nhiing bien dong bat ldi cua moi trtfdng kinh doanh hoac su'c ep cua cac ltfc Itfdng canh tranh. NLCT cua NHTM the hien stfc manh noi tai cua ban than ngan hang do de co the dtfa ra cac san pham (dich vu) dap tfng td't nha't nhu cau cua khach hang va duy tn, thu hut khach hang, md rpng thi phan nham gia tang ldi nhuSn.
2.2. Bo ludng ndng lUc canh tranh cua NHTM Van de do Itfdng NLCT trong ITnh vtfc ngSn hang da thu hiit nhieu stf quan tam trong nhtfng nam qua, khong chi vi cuoc khiing hoang tai chmh gan day, ma cdn do loan cau hda, ttf do hda Ihi trtfdng tai chinh va hoi nhap ngan hang tren loan the gidi. Nhieu nghien ctfu ly thuye't da giai thich nhiJng tac dgng cua NLCT ve tie'p can tin dung, chi phi va chat Itfdng dich vu tai chinh, doi mdi, stf on dinh ciia he tho'ng tai chinh va do dd phat trien kinh te. Tuy nhien, d^ giai quyet nhtfng cau hdi quan trgng nay, ngtfdi ta can dtfa ra cac bidn phap dang tin cay de do Itfdng NLCT ngan hang vi bien phap nay cang chinh xac, ket qua thtfc nghidm cang cho ket qui to't hdn (Leon, 2014). Thtfc te, NLCT la mpt khai niem phtfc tap va do dd khong thi quan sal trtfc de'p, da din de'n stf phat trien cua nhieu phtfdng phap de danh gia, cu the:
2.2.1. Chl sdphi cdu true Lerner Phtfdng phap Lerner (1934) dtfdc cac hoc gia sii dung ra't nhieu trong nghien ctfu thtfc nghiem ve canh tranh ngan hang do phtfdng phap nay tfdc Itfdng theo ttfng nam va cho ttfng loai hinh sd hffu khac nhau cua mdi ngan hang. Day la phtfdng phap sff dung chi so' Lerner de xac dinh NLCT trong ngan hang. Chi so Lerner cung dtfdc nhi6u hpc gia
trenthe'gidi.sffdung. . Chl so'Lerner, do Lerner, A.P. (1934) de xuat
chl ra stfc manh quySn ltfc thi trtfdng cua ngan hang bang each xem xet ty le giffa chi phf can bien va gia ck. Do', vdi moi trtfdng canh tranh hoan hao.
gia ban bKng vdi chi phi can bi^n.^trong kh. doi vd.
mdi trtfdng co stfc manh dpc quyen th. gia ban ldn Z . chi phi bien. DO dd, dl do Itfdng stfc manh dgc quyin chi so'Lemer la phtfdng phapdtfdcstf^dun^
S h L do ltfdng NLCT cua NHTM kha pho bien
^ r S a i ^ x f m x e t m f f c c h e n h l e c h giffa gia ban va chi phi can bien.
So 12 -Thang 7/2019 321
TAPGHlCONtTHIflflie
Lemer = - MC,,(
Pi.i
(1) Trong do: i la dai dien ngan hang, t la thdi gian, PJa gia dau ra, dtfdc tinh bang long doanh thu tren td'ng tai san; MC (Margin Cost) la chi phi bien cua ngan hang, khong quan sat dtfdc trtfc tie'p.
Do MC khdng quan sat dtfcfc irtfc tiep, nhdm tac gia sijf dung mo hinh cua Fu & cdng stf (2014). Ben canh do, tac gia da tiep can them md hinh cua Leuvensteijn & cdng stf (2011) va Xu & cdng stf (2013); Fungacova & cong stf (2013); MC dtfdc tfdc Itfdng dtfa tren ham so' long chi phi va dtfdc tfdc tinh theo trinh ttf hai btfdc,cu the:
Budc 1: Lay logarithm tU nhien cua hdm tdng chi phi:
LnTCii = ffo + CiLnQi, + -fl; (LnQ,i)- + OaLnvv'!,, + a^Lnwi,, + asLnvy',,, + ff^LnQn Lnwi,i + ajLuQ^ Lnw:
+ ffgLnQrt Lnw^u + OgLnWiJt Lnw2,t + aioLnw^t Lnw.i,, + aiiLnw3JtLnw3,i +-^12 (Lnwi,i)^+ -a^^ (Lnw:,,)- + i a „ (L.IW.,,,)- +aj5T + j a i 6 (T)^ + \ a^j.J LnQ„
+.aigT Lnwi„ +.a^g7 Lnwin+.ffjoT Lnw3„
(2)
Vdi: TC la long chi phi (bao gom chi phi lai va chi phi ngoai lai); Q la tong tai san; ba gia dau vao gom: W| la gia vo'n tien gffi. w, la gia vd'n vat chat va W3 la gia lao dong; T la bie'n phan anh stf thay ddi cdng nghe, phan anh hieu ffng cd'dinh nam de nam bat thay ddi kT thuat trong ham chi phi theo thdi gian.
Budc 2: Sau khi udc lUOng hdm long chi phi, chi phi bien dtfdc xac dinh bang each lay dao ham bac nha't tff phtfdng trinh (4) va dtfdc tfdc linh nhtf sau:
, . „ — ^^^if _ ( g i + g 2 LnQit+gft L p w i i t + g ? Lnwzjt+aa Lnwajt +ai^,T') TCj
" &Qit Qit Ariss (2010) chira gia tr. chi so'Lemer cang ldn
ham y rang mtfc do canh tranh giffa cac ngan hang cang ye'u va NLCT cua tffng ngan hang cang manh. Chi so' Lerner giao dpng trong khoang tff 0 den 1, chi so' Lerner cang nhd (gan bang 0) the hien mtfc dp canh tranh cang cao. Ngtfdc lai, Lerner cang ldn (gan bang 1) bieu th. sffc manh doc quyen cang ldn.
Khi canh tranh hoan hao ton tai thi gia ban bang chi phi bien, do vay chi sd'nay se cd gia tri bang 0.
Khi gia ca ldn hdn chi phi bien thi chi sd Lerner se
ldn hdn 0 va d trong khoang gitJa 0 va L Chi sc cang gan 1 thi quyen ltfc dpc quyen cua cdng tj cang cao, tffc la NLCT cua NHTM cang cao.
2.2.2. Chl sd Boone
Trong ffng dung thffc nghiem, phtfdng trinh ddr gian nha't dd xac dinh chi bao Boone, cho ngai hang i tai thdi diem t dtfdc xac dinh nhtf sau:
ln(7ii,) = a + /?LnMC,t + e, (4)
Trong do: Tin la Ldi nhuan cija ngSn hang 1 vat nam t; MCjj: Chi phi bien cua ngan hang i vao nan t dtfdc tfdc Iffdng theo phtfdng trinh (3); p la Chi sc Boone.
Chi so' Boone cd dac tinh mang gia tri am Nghia la ngan hang cd chi phi bien cang cao. Id nhu^n cang nho. Ngoai ra, chi sd'Boone cdn manj y nghia khac la gia tri tuyet do'i cu£
chl so nay cang Idn ihi NLCT cua cac ngan hang cang ydu.
3. Kfe't qua nghidn ctfu thift nghi$ni
3.1. NLCT cua cdc NHTM Vie, Nam trung binh giai doan 2008 - 201/
bang LERNER
Bieu do 1 mo ta bien dpng chi sc LERNER binh quan cua cac NHTM Viet Nam qua cac nam. Chi so' LERNER binh quar nam 2008 d mffc 34,67%, cao nha't vao nam 2005 d mtfc 38,75% va tha'p nha't nam 2016 d mtfc 24%
Tff mtfc cao 38,75% nam 2009, chi so' LERNEF giam manh vao nam 2013 xud'ng 25,54%, sau dc bien ddng nhe va kha dn dinh; de'n nam 2016 ch sd LERNER tiep tuc bie'n ddng giam ve mtfc 2495 va cd xu hffdng tang nhe trong nam 2017 ler 26,93%. Nhin tong the, xu htfdng chung cua chi sc LERNER cua cac NHTM Viet Nam la giam qu£
cac nam 2008 • (3) 2017, dieu naj
cho tha'y mtfc dc canh tranh cua cac NHTM Viet Nam ngay can^
khd'c liet trong giai doan 2008 - 2017 va cd xt htfdng gia tang.
Trong dieu kien luong vd'n ntfdc ngoai vao Viei Nam gia tang manh: bat dau ttf cud'i nam 2006, kh Viet Nam chinh thtfc trd thanh thanh vien cua Tc chtfc thtfdng mai the gidi (WTO), cung vdi nhiJng cai each ve cd che chinh sach va mdi irtfdng dau ti da tao dieu kien cho cac ludng vdn ntfdc ngoai de vao Viet Nam tang manh.Trtfdc bd'i canh lam phai toan cau gia tang da tac dong lam gia hau het cac
322 So 12-Thang 7/2019
TAI CHiNH-NGAN HANG-BAQ HIEM
ugu do J: NLCT binh quan cac NHTM Viet Nam giai dogn 2008 - 2017
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Nguon: Tinh todn ciia ldc gid dUa tren BCTC cdc NHTM
nhom hiing nhap kha'u cua Viet Nam gia tang manh me nhtf xang dtu, sat thep, phSn bdn, thud'c trit sau - la nhffng nguyen nhien vSt lieu dau vao chinh cua san xua't trong ntfdc da day lam phat giai doan2008 - 20! 1 tang cao. Dieu nay gay ra nhffng
^n hieu tang gia ao trong cac san pham dich vu, iSng nhif cho vay trong ITnh vtfc kinh doanh ngan hang. Chi sd Lerner trong giai doan 2008- 2011 lang cao do bidn dpng gia manh trong giai doan nay va drfdc dieu chinh ve mtfc hdp ly ke ttf nam 2012 tdi nay.
Mat khic, khi qua trinh hoi nhap kinh te qud'c letang cao, lan sdng sap nhap va liSn kel giffa cac NHcung tang len, dac biet la stf phat tnen vd cong nghe ky thuat v^ ludng thdng tin trong the gidi phang da giup cho ngtfdi tieu dCing san pham dich VBco s^so sanh ve gia ca cung nhtf chat Iffdng san phlm mot each nhanh gpn va dg dang. Dieu nay 4a lam cho chat Itfdng, cung nhtf gia ca san pha'm dichvu ngan hang ngay cang xich lai gan nhau te, dan den khdng cd nhieu sif khac biet trong
^CT giifa cac NHTM.
U. NLCT cua cdc NHTM Viet Nam trung
*«ft «ifli doan 2008 - 2017 bang BOONE
^K^tqua trong Bang 2 chi ra cac chi sd Boone
Bdng 1 NLCT binh qudn cac NHTM giai dogn 2008 - 2017
Vidt Nam
Nam 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
H^so -7.333495 -5.352240 -6 033610 -7.739401 -6.900332 -4.671951 -5 355684 -5 592158 -5.565722 -5.889711
GiatnZ -653 -6.99 1 -5.19 -7.39 -6.21 -4.89 -2.23 -5.34 -6.62 -4.11
GiafnP 0,000 0,000 0,000 r 0,000
0,000 0,000 0,001 0,000 iSoo
"Janggia tri "am" phii hdp vdi cd sd li thuyet.
deu ''fftenhitsau:
So v«i cac nam khac, NLCT giOa cac NHTM
trong he tho'ng ngan hiing Viet Nam 0 mUc do n I binh trong nam 2008 va 201 l^Btidc sang lam 2009, NLCT dii gia tang manh ro, sau do amtrongnam 2010.Tttnam2009de„„am OIL nang lite canh tranh Ichong ngUng g,am dan trong TnL sau do va gta tSng trS 1,. » " / " ^ f ^ ' d o Dieu nay cho thay, ngoa, cac nam MS ^01L do Jnh huang cOa ^ J n g ^ - " 8 ^ - ^ a ^ g x l t cho .i -into ? n P cung CO xutitfongidiife-^
doan 2 0 0 ' 2'1I- cu g ^^^^ ^^^.^ „ , , „ cii giai doan 2008 - zoj»,
.So 12 Thang 7/2019 323
TAP CHi CONG T H M
vao nam 2008 va nam 2011 nhtfng nhin chung cd xu htfdng gia tang va dan dn dinh trong giai doan 2014-2017. Ke't qua nghien cffu cho tha'y ca 2 chi sd Lerner va Boone deu chi ra NLCT khdng bien ddng nhieu trong giai doan 2014 - 2017 va cd xu htfdng tang len so vdi giai doan trtfdc.
3.3. So sdnh cdc chi so do lUdng NLCT Tff ket qua nghien ctfu chi sd' Lerner va chi so' Boone cho tha'y cdc ke't qua nghien cffu khdng hoan toan thd'ng nha't vdi nhau. Trong khi chi sd Lerner chi ra canh tranh trong nam 2012 dign ra khd'c liet nha't thi chi sd' Boone lai cho tha'y rang nam 2011 mdi la dinh diem cua canh tranh. Vi vSy, nha m chi ra chi s6' do itfdng nao phu hdp hdn de do Iffdng canh tranh trong he thd'ng NHTM Viet Nam, tac gia tie'n hanh phan tich md'i ttfdng quan cap giffa cac chi so'.
Bang 2. He so fi/cfng quan cap
TIME
BOONE
LERNER
He so tudng quan Pearson MUc y nghia Sig.
N
He sotuong quan Pearson MUc y nghla Sig N
He sotuong quan Pearson MUc y nghla Sig.
N
TIME 1 BOONE 1
300 .111*
.055 300 -.434"
000 300
.111*
.055 300 1
300 -046*
0427 300
LERNER -434**
.000 300 -.046*
.0427 300
1
300 GhichO'**. MOcy nghia 1%; '• Mitcy ngitfa 10%
Bang 2 cho thay chi sd'Lerner va chi so' Boone cd md'i ttfdng quan am va mffc ttfdng quan kha cao -0,46 d mffc y nghla 5%. Ngoa. ra, chi so'
Lerner cd md'i ttfdng quan am va md. tffdng quai, rat cao vdi thdi gian (-0,434) d mffc 1%. NghTa li, neu do Itfdng NLCT trong he thd'ng NHTM Vip Nam, chi so'Lerner da phan anh NLCT dffdc ca lien theo thdi gian. Cdn chi sd Boone cung cd md ttfdng quan cao vdi thdi gian nhtfng la ttfdng quai dtfdng (0,111) d mtfc y nghia 10%. NghTa la thee chi sd nay, NLCT khdng cai thien theo ihdi gian Vl v|ly, viec sff dung chi so'Lerner la phu hop hd.
chi so' Boone trong cac md hinh do Itfdng NLCT cua cac NHTM.
4. Kd't luan va ham y chfnh sach Sff dung chi so' Lerner la phii hdp hdn chi sc Boone trong cac mo hinh do Iffdng NLCT cua cac;
NHTM. Sau khung hoang nam 2008 (ngoai tri.
nam 2009), NLCT trd nen dtfdc cai thien hdn Trffdc day, cac ngan hang Vidt Nam dang tap trunf chu yeu vao san pharr truyen thd'ng: Huy d6n§
tien gffi va cho vay; tuy nhien, xu the nhiJng nair, gan day tai cac NHTM Viet Nam da da dang hda cung ca'p cac san pham dich vu tai chinh. Chiu sffc ep nang ne nha't tu cudc canh tranh khd'c liet nay la cac ngan hang cd nang li/c ye'u ve tai chinh cung nhtf nang ltfc quare tri. Trong bd'i canh do, Ngan hang Nha nffdc da phat huy vai trd cua minh bang nhieu each thtfc khac nhau; Sff dung chinh sach tidn te, bien phap hanh chinh, chffdng trlnh tai ca'u true... nham lap lai stf dn dinh trong toan, he thd'ng ngan hang •
Nguon: Tinh todn cua tdc gid
T A I L I E U THAiVI K H A O :
/. Anginer, D., Demirguc-Kunt, A. & Zhu, M.. "How does competition affect bank sy.stemic risk?". Journal of Financiai Intermediation, 23 (2014) 1, 1 - 26.
2. Berger, A.N, Klapper, LF. & Tiirk-Ariss, R.. "Bank competition and financial stability". Journal of Financial Services Research, 35 (2009) 2.99-118.
3. Carho, 5., & Humphrey, D., Maudo.'i, J.. Molyneux. P (2009). Cross-country comparisons of compeiiuon and
324 So 12^ Thang 7/2019
TAI CHiNH-IISAIl HANB-Bio HIEM
wiring jwiver in European banicing. Journal of International Money and Finance. 28.115.134 lCml>-.iOirurdone.C.(2009)Mngtherelatio„sh,pbet,veencompetmo„andel}iciencylnbanking-Ananel j0imilysis.EconomicsLelters. 105.134 -137. *• "^ffuei
i Fu. X.U.. Lin. Y.R & Molyneux. P., "Banic competilion and financiai stability m Asia Pacific" Journal nf fi„„I.,„»
ifimiu:e.S8(2014).64-77. ' "™<""/«"»»""S I, Fltigaaxa. Z, i Pessaiml. P.. Weill. L (2013). Is bank competition detrimental to efficiency? Evidence from Chinn. China Economic Review. 27. 121 -134.
I Umer.LP.. "Economic theory and socialist economy". The Review of Economic Studies. 2(1934)1.51-61 S kmnsteijn. M. V. & BIkiier. J A.. Rixtel. A. V. Kok-Sorensen. C. (2011). A new approach to measuring competition in the loan markets of the Euro area. Applied Economics. 43.3155-3167.
Ngay nhjn bai: 20/6/2019
Ngay phan bi$n danh gia va su'a chuia: 30/6/2019 Ngiiy chS'p nhdn dang bai: 10/7/2019
Thong tin tdc gid:
PHAM THI HA AN
Khoa Tiii chinli ltd' t o a n , Trifcfng D^i lioc V a n L a n g
MEASURING THE COMPETITFVENESS OF COMMERCIAL BANKS IN VIETNAM BY USING
LERNEX INDEX AND BOONE INDEX
• PHAM THI HA AN
Faculty of Finance a n d Accounting, Van Lang University
ABSTRACT:
This study examines the differences in competitiveness of 30 commercial banlcs in Vietnam ij the period of 2008 - 2017 through 2 indicators L e m e r (1930) and Boone (2008), thereby finding out how to m e a s u r e the c o m p e t i t i v e n e s s of Vietnamese commercial banks. The study reveals that results are not c o m p l e t e l y consistent with each other. While the Lerner mdex indicates that the competition a m o n g V i e t n a m e s e commercial banks reached its height m 2012, He Boone index shows that the p e a k of competition happened in 2011. Analyzing the pair raitelation between mdicators, the L e m e r index shows that the competitiveness of commercia banks in Vietnam has improved o v e r time. H e n c e , il is better to use the Lerner index instead ot IheBoone index to m e a s u r e the c o m p e t i t i v e n e s s of Vietnamese commercial banks.
Keywords; Competitiveness, competition, L e m e r , Boone.
So 12-Thang 7/2019 325
