使用美國金融控股公司財務資訊來決定獲利的決定因素，樣本期間為2001年至2007年，本篇研究主要使用分量迴歸模型分析獲利在不同分量下，得到不同的估計值，與最小平方估計量相較之下， 此非線性的模型，可得到較多的資訊來解釋獲利與獲利決定因子間之關係，在不同分量下，估計值可能會產生正負相關性改變、大小以及顯著性的不同；從研究中，發現擁有高獲利的美國金融控股公司，亦即處於成長型生命週期階段，須承擔較多風險，亦須增加服務項目賺取手續費用來提升獲利；同時，擁有較高程度的財務槓桿，執行有利的投資機會，增加獲利；除此之外，維持高水準的流動性，避免高財務槓桿導致財務危機的產生。

Financial data for U.S. bank holding companies (hereafter BHCs) listed during 2001-2007 are analyzed to identify determinants of BHCs profitability. A key feature of this study is analysis of changing distribution of RoE (return on equity) across BHCs and over time by quantile regression (hereafter QR) model and comparison of the results with OLS estimates. The empirical results of this model differ from th ose obtained by OLS estimates since the QR method processes more information from the sample distribution.
The nonlinearities derived from conditional QR reveal considerable differences, including
differences in size, significance, even sign of the impacts of identified determinants of
BHCs’ profitability on BHCs with different degrees of profitability. It should be noted that
certain existing puzzles of the relations between BHCs profitability and its determinants could be satisfactorily accounted for in t his study. Moreover, BHCs with higher profitability performance can increase not only risk-taking but also service activities to enhance their profitability. Meanwhile, they must maintain higher financial leverage to increase investment opportunities and h igher liquidity to avoid financial distress.

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