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En ouvrant son marché bancaire à l’international au milieu des années 1990, la Jordanie a autorisé une remise en cause du modèle existant et la montée d’un actionnariat étranger. Cette étude a pour objectif d’analyser l’impact de l’origine de la propriété des banques cotées durant la période 2005-2015 sur leur performance, leur exposition au risque de crédit et la constitution de fonds propres. Nous montrons qu’un actionnariat étranger dominant est fortement discriminant sur ces trois critères : ratios de solvabilité élevés, qualité supérieure du portefeuille de crédit, meilleure performance que les banques domestiques. Une analyse plus détaillée relative à la taille des banques étrangères permet d’observer que les plus petites d’entre elles se distinguent par une surabondance de fonds propres et par une faible efficience. Nous mettons ainsi en exergue l’intérêt de la prise en compte de cette dimension dans l’analyse de la propriété des banques. Classification JEL  : G21, G32, G38.

At the core of the recent global financial and economic crisis marked by its magnitude, credit risk turned out to be a powerful catalyst. The objective of this paper is mainly to follow up on the evolution of credit risk on the Jordanian market during the recent economic and financial international crisis. Based on the linear discriminant Z-Score model and KMV structural model, we recognize the increase in credit risk during the crisis period. On the whole, the confrontation between models highlights the robust correlation between the accounting results of a company and its market value and therefore indicates the need to consider the macroeconomic context in an open economy for the evaluation of the risk of credit.   JEL codes: E551, G3, C1

In this paper, we investigate the relation between Environmental, Social and Governance (ESG) activities and bank performance in European markets. Different from existing literature, we also explore whether ESG activities differently affect the performance of foreign-owned banks and domestic-owned banks. The results show that higher involvement in ESG activities is associated with better performance only for foreign-owned banks, and suggest that investment in ESG activities is relevant for foreign banks since it helps to obtain legitimacy in foreign markets, and enhance their reputation on international level. Our findings provide a better understanding of whether a bank's ESG activities are in the interest of shareholders, and partially explain the contradictory results in previous studies.

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