저축은행 예금자의 시장규율에 관한 실증연구

This study empirically analyzes whether depositor market discipline operates in savings banks in Korea. It also examines the impact of online banking and rising market interest rates on depositor discipline. The findings are as follows: First, variations in deposit amounts are significantly influenced by risk indicators of savings banks, confirming the presence of depositor discipline. Second, while the depositor discipline effect exists for banks with high online transaction volume, this effect does not exist for banks with high offline transaction volume. Third, the impact of depositor discipline was more pronounced during rising interest rates, with savings banks that had higher online transaction volume than others. While previous domestic studies primarily focused on confirming the existence of market discipline in the savings bank sector, this study contributes to the research area by empirically analyzing how online banking and rising market interest rates affect depositor discipline. The findings that a rapid increase in market interest rates could lead to large-scale withdrawals in savings banks with high online transaction volume due to deteriorating management risks provide valuable implications for financial regulators and the management of these banks.