HOLDING firms and non-bank financial institutions (NBFIs) have more influence in terms of investments in companies compared to banks, according to the government’s think tank. In a discussion paper, Philippine Institute for Development Studies (PIDS) Research Fellows Aubrey D. Tabuga and Ramonette B.
HOLDING firms and non-bank financial institutions have more influence in terms of investments in companies compared to banks, according to the government’s think tank.
“Holding companies are in a position that enables them to reach many companies because they are of short distances to these actors. Their power and influence within the network emanating from their positions are fundamental because these are global measures of centrality,” the researchers said. It also showed that while removing banks would disrupt the financial system “in a significant way,” it had a weak link to sectors such as manufacturing, mining, and construction.
The study covered 70 percent of the Top 20 Universal and Commercial Banks and 45 percent of Top 20 Thrift Banks based on the Bangko Sentral ng Pilipinas data as of December 2023.
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