Menu Expand
  1. Journals
  2. Economics, Finance, Business & Management
  3. Credit and Capital Markets – Kredit und Kapital
  4. Vol. Online First
  5. pp. 1–31

JOURNAL ARTICLE

Cite JOURNAL ARTICLE

Style
Burgstaller, J., Dietl, K. Efficiency of Banks With a Double Bottom Line. Credit and Capital Markets – Kredit und Kapital, 99999(), 1-31. https://doi.org/10.3790/ccm.2024.1428501
Burgstaller, Johann and Dietl, Katharina "Efficiency of Banks With a Double Bottom Line" Credit and Capital Markets – Kredit und Kapital 99999., 2024, 1-31. https://doi.org/10.3790/ccm.2024.1428501
Burgstaller, Johann/Dietl, Katharina (2024): Efficiency of Banks With a Double Bottom Line, in: Credit and Capital Markets – Kredit und Kapital, vol. 99999, iss. , 1-31, [online] https://doi.org/10.3790/ccm.2024.1428501
Format
Download

Efficiency of Banks With a Double Bottom Line

Burgstaller, Johann | Dietl, Katharina

Credit and Capital Markets – Kredit und Kapital, Vol. (2024), Online First : pp. 1–31

Read Now Download (PDF)

Additional Information

Article Details

Publisher Name
Duncker & Humblot
DOI
https://doi.org/10.3790/ccm.2024.1428501
Language
English
Pages
31
Keywords

Author Details

Assoz. Univ.-Prof. Dr. Johann Burgstaller, Johannes Kepler University, Altenberger Str. 69, A-4040 Linz.

Katharina Dietl, MSc, MBA, Johannes Kepler University, Altenberger Str. 69, A-4040 Linz.

References

  1. de Abreu, E. S./Kimura, H./Sobreiro V. A. (2019): What is going on with studies on banking efficiency? Research in International Business and Finance, Vol. 47, 195–219.  Google Scholar
  2. Ahmad, N./Naveed, A./Ahmad, S./Butt, I. (2020): Banking sector performance, profitability, and efficiency: A citation-based systematic literature review. Journal of Economic Surveys, Vol. 34(1), 185–218.  Google Scholar
  3. Ahn, H./Le, M. H. (2014): An insight into the specification of the input-output set for DEA-based bank efficiency measurement. Management Review Quarterly, Vol. 64(1), 3–37.  Google Scholar
  4. Ahn, H./Le, M. H. (2015): DEA efficiency of German savings banks: evidence from a goal-oriented perspective. Journal of Business Economics, Vol. 85(9), 953–975.  Google Scholar
  5. Ahn, H./Le, M. H. (2016): Decision-oriented Performance Measurement Framework – An Emphasis on Rationality. In Ahn, H./Clermont, M./Souren, H. (Eds.), Nachhaltiges Entscheiden (369–383). Springer.  Google Scholar
  6. Aiello, F./Bonanno, G. (2018a): Multilevel empirics for small banks in local markets. Papers in Regional Science, Vol. 97(4), 1017–1037.  Google Scholar
  7. Aiello, F./Bonanno, G. (2018b): On the sources of heterogeneity in banking efficiency literature. Journal of Economic Surveys, Vol. 32(1), 194–225.  Google Scholar
  8. Amersdorffer, F./Buchenrieder, G./Bokusheva, R./Wolz, A. (2015): Efficiency in microfinance: financial and social performance of agricultural credit cooperatives in Bulgaria. Journal of the Operational Research Society, Vol. 66(1), 57–65.  Google Scholar
  9. Avkiran, N. K./Morita, H. (2010): Benchmarking firm performance from a multiple-stakeholder perspective with an application to Chinese banking. Omega, Vol. 38(6), 501–508.  Google Scholar
  10. Ayadi, R./Llewellyn, D. T./Schmidt, R. H./Arbak, E./De Groen, W. P. (2010): Investigating Diversity in the Banking Sector in Europe – Key Developments, Performance and Role of Cooperative Banks. Centre for European Policy Studies, Brussels.  Google Scholar
  11. Ayadi, R./Schmidt, R. H./Carbó Valverde, S./Arbak, E./Rodriguez Fernandez, F. (2009): Investigating Diversity in the Banking Sector in Europe – The Performance and Role of Savings Banks. Centre for European Policy Studies, Brussels.  Google Scholar
  12. Bachiller, P./Garcia-Lacalle, J. (2018): Corporate governance in Spanish savings banks and its relationship with financial and social performance. Management Decision, Vol. 56(4), 828–848.  Google Scholar
  13. Badunenko, O./Mozharovskyi, P. (2016): Nonparametric frontier analysis using Stata. Stata Journal, Vol. 16(3), 550–589.  Google Scholar
  14. Badunenko, O./Tauchmann, H. (2019): Simar and Wilson two-stage efficiency analysis for Stata. Stata Journal, Vol. 19(4), 950–988.  Google Scholar
  15. Bagnoli, L./Megali, C. (2011): Measuring Performance in Social Enterprises. Nonprofit and Voluntary Sector Quarterly, Vol. 40(1), 149–165.  Google Scholar
  16. Beisland, L. A./Djan, K. O./Mersland, R./Randøy, T. (2021): Measuring Social Performance in Social Enterprises: A Global Study of Microfinance Institutions. Journal of Business Ethics, Vol. 171(1), 51–71.  Google Scholar
  17. Bergendahl, G./Lindblom, T. (2008): Evaluating the performance of Swedish savings banks according to service efficiency. European Journal of Operational Research, Vol. 185(3), 1663–1673.  Google Scholar
  18. Berger, A. N./Humphrey, D. B. (1997): Efficiency of financial institutions: International survey and directions for future research. European Journal of Operational Research, Vol. 98(2), 175–212.  Google Scholar
  19. Berger, A. N./Mester, L. J. (1997): Inside the black box: What explains differences in the efficiencies of financial institutions? Journal of Banking & Finance, Vol. 21(7), 895–947.  Google Scholar
  20. Bertuch-Samuels, A. (2018): Why we should embrace institutional diversity in banking. Vierteljahreshefte zur Wirtschaftsforschung, Vol. 87(4), 127–139.  Google Scholar
  21. Bhatia, V./Basu, S./Mitra, S. K./Dash, P. (2018): A review of bank efficiency and productivity. OPSEARCH, Vol. 55(3–4), 557–600.  Google Scholar
  22. Bos, J. W. B./Kool, C. J. M. (2006): Bank efficiency: The role of bank strategy and local market conditions. Journal of Banking & Finance, Vol. 30(7), 1953–1974.  Google Scholar
  23. Brown, R. (2006): Mismanagement or mismeasurement? Pitfalls and protocols for DEA studies in the financial services sector. European Journal of Operational Research, Vol. 174(2), 1100–1116.  Google Scholar
  24. Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (2022): Bericht über das gesellschaftliche Engagement 2021. Retrieved from https://www.bvr.de/p.nsf/0/518601A68E6B0BA1C12588C50021E7BC/%24FILE/BVR_CSR_2021_DS.pdf. Accessed February 20, 2023.  Google Scholar
  25. Burger, A./Moormann, J. (2008): Productivity in banks: myths & truths of the Cost Income Ratio. Banks and Bank Systems, Vol. 3(4), 85–94.  Google Scholar
  26. Busch, R./Memmel, C. (2021): Why Are Interest Rates on Bank Deposits so Low? Credit and Capital Markets, Vol. 54(4), 641–668.  Google Scholar
  27. Butzbach, O./von Mettenheim, K. E. (2015): Alternative Banking and Theory. Accounting, Economics, and Law: A Convivium, Vol. 5(2), 105–171.  Google Scholar
  28. Canhoto, A./Dermine, J. (2003): A note on banking efficiency in Portugal, New vs. Old Banks. Journal of Banking & Finance, Vol. 27(11), 2087–2098.  Google Scholar
  29. Coccorese, P./Shaffer, S. (2021): Cooperative banks and local economic growth. Regional Studies, Vol. 55(2), 307–321.  Google Scholar
  30. Conrad, A./Neuberger, D./Trigo Gamarra, L. (2014): The Impact of Regional Economic Conditions on the Efficiency of Savings Banks in the Light of Demographic Change. Credit and Capital Markets, Vol. 47(4), 533–570.  Google Scholar
  31. Cordes, J. J./Coventry, K. (2010): Assessing nonprofit performance. In B. A. Seaman/R. A. Young (Eds.), Handbook of Research on Nonprofit Economics and Management (263–279). Edward Elgar.  Google Scholar
  32. Costa, E./Pesci, C./Andreaus, M./Taufer, E. (2022): When a sector-specific standard for non-financial reporting is not enough: evidence from microfinance institutions in Italy. Sustainability Accounting, Management and Policy Journal, Vol. 13(6), 1334–1360.  Google Scholar
  33. de la Cuesta-González, M./Froud, J./Tischer, D. (2021): Coalitions and Public Actions in the Reshaping of Corporate Responsibility: The Case of the Retail Banking Industry. Journal of Business Ethics, Vol. 173(3), 539–558.  Google Scholar
  34. Deutscher Sparkassen- und Giroverband (2022): Bericht an die Gesellschaft 2021 – Kennzahlen zum Bericht. Retrieved from https://im-auftrag-der-gesellschaft.de/wp-content/uploads/2021-DSGV-Kennzahlen-zum-Bericht.pdf. Accessed February 20, 2023.  Google Scholar
  35. DeYoung, R. (1997): Measuring Bank Cost Efficiency: Don’t Count on Accounting Ratios. Financial Practice and Education, Vol. 7(1), 20–31.  Google Scholar
  36. Dombrowa, M. (2019): The Relationship between Size, Efficiency and Locational Factors: a two-stage DEA Analysis of German Cooperative Banks. Working Paper, Institute for Cooperative Research, University of Münster.  Google Scholar
  37. Ebrahim, A./Battilana, J./Mair, J. (2014): The governance of social enterprises: Mission drift and accountability challenges in hybrid organizations. Research in Organizational Behavior, Vol. 34, 81–100.  Google Scholar
  38. Epstein, G./Dutt, D. (2018): Public Banks, Public Orientation and the Great Financial Crisis of 2007–2008. In: Costabile, L./Neal, L. (Eds.), Financial Innovation and Resilience (327–343). Palgrave Macmillan.  Google Scholar
  39. Ferri, G./Kalmi, P./Kerola, E. (2014): Does bank ownership affect lending behavior? Evidence from the Euro area. Journal of Banking & Finance, Vol. 48, 194–209.  Google Scholar
  40. Fethi, M. D./Pasiouras, F. (2010): Assessing bank efficiency and performance with operational research and artificial intelligence techniques: A survey. European Journal of Operational Research, Vol. 204(2), 189–198.  Google Scholar
  41. Fried, H. O./Lovell, C. A. K./Vanden Eeckout, P. (1993): Evaluating the performance of US credit unions. Journal of Banking and Finance, Vol. 17(2–3), 251–265.  Google Scholar
  42. Galletta, S./Mazzù, S./Natici, V. (2022): A bibliometric analysis of ESG performance in the banking industry: From the current status to future directions. Research in International Business and Finance, Vol. 62, 101684.  Google Scholar
  43. García-Cestona, M./Surroca, J. (2008): Multiple goals and ownership structure: Effects on the performance of Spanish savings banks. European Journal of Operational Research, Vol. 187(2), 582–599.  Google Scholar
  44. Glass, J. C./McKillop, D. G. (2006): The impact of differing operation environments on US Credit Union Performance, 1993–2001. Applied Financial Economics, Vol. 16(17), 1285–1300.  Google Scholar
  45. Glass, J. C./McKillop, D. G./Rasaratnam, S. (2010): Irish credit unions: Investigating performance determinants and the opportunity cost of regulatory compliance. Journal of Banking & Finance, Vol. 34(1), 67–76.  Google Scholar
  46. Groeneveld, H. (2014): Features, Facts and Figures of European Cooperative Banking Groups over Recent Business Cycles. Journal of Entrepreneurial and Organizational Diversity, Vol. 3(1), 11–33.  Google Scholar
  47. Groeneveld, H. (2020): Reconciling different truths about isomorphic pressure and distinctive behavior at European cooperative banks: Back to the future with Raiffeisen’s principles. Annals of Public and Cooperative Economics, Vol. 91(3), 359–385.  Google Scholar
  48. Gutiérrez-Nieto, B./Serrano-Cinca, C./Mar Molinero, C. (2009): Social efficiency in microfinance institutions. Journal of the Operational Research Society, Vol. 60(1), 104–119.  Google Scholar
  49. Hackethal, A./Koetter, M./Vins, O. (2012): Do government owned banks trade market power for slack? Applied Economics, Vol. 44(33), 4275–4290.  Google Scholar
  50. Hahn, F. R. (2007): Environmental determinants of bank efficiency in Austria. Empirica, Vol. 34(3), 231–245.  Google Scholar
  51. Hakenes, H./Hasan, I./Molyneux, P./Xie, R. (2015): Small Banks and Local Economic Development. Review of Finance, Vol. 19(2), 653–683.  Google Scholar
  52. Hassan, M. K./Rabbani, M. R./Brodmann, J./Bashar, A./Grewal, H. (2023): Bibliometric and Scientometric analysis on CSR practices in the banking sector. Review of Financial Economics, Vol. 41(2), 177–196.  Google Scholar
  53. Idasz-Balina, M./Balina, R./Achsani, N. A./Błaszczak, I./Chrostowska-Juszczyk, G. (2020): The Determinants of Cooperative Banks’ Community Service – Empirical Study from Poland. Sustainability, Vol. 12(5), 1885.  Google Scholar
  54. Kontolaimou, A./Tsekouras, K. (2010): Are cooperatives the weakest link in European banking? An non-parametric metafrontier approach. Journal of Banking & Finance, Vol. 34(8), 1946–1957.  Google Scholar
  55. Kosinowski, G. (2020): Members, Clients and the Society: A Grounded Theory of Cooperative Banks’ Value Creation. In: Farache, F./Grigore, G./Stancu, A./McQueen, D. (Eds.), Values and Corporate Responsibility – CSR and Sustainable Development (87–125). Palgrave Macmillan.  Google Scholar
  56. Kotz, H.-H./Schäfer, D. (2018): Diversity across EU banking sectors: Poorly researched and underappreciated. Vierteljahreshefte zur Wirtschaftsforschung, Vol. 87(4), 153–179.  Google Scholar
  57. Lepetit, L./Strobel, F. (2013): Bank insolvency risk and time-varying Z-score measures. Journal of International Financial Markets, Institutions & Money, Vol. 25, 73–87.  Google Scholar
  58. López-Penabad, M. C./Iglesias-Casal, A./Silva Neto, J. F./Maside-Sanfiz, J. M. (2023): Does corporate social performance improve bank efficiency? Evidence from European banks. Review of Managerial Science, Vol. 17(4), 1399–1437.  Google Scholar
  59. Mäkinen, M./Jones, D. C. (2015): Comparative efficiency between cooperative, savings and commercial banks in Europe using the frontier approach. Annals of Public and Cooperative Economics, Vol. 86(3), 401–420.  Google Scholar
  60. Manetti, G./Bagnoli, L. (2013): Mutual and social efficiency of Italian co-operative banks: an empirical analysis. Annals of Public and Cooperative Economics, Vol. 84(3), 289–308.  Google Scholar
  61. Martínez-Campillo, A./Fernández-Santos, Y. (2017): What About the Social Efficiency in Credit Cooperatives? Evidence from Spain (2008–2014). Social Indicators Research, Vol. 131(2), 607–629.  Google Scholar
  62. Martínez-Campillo, A./Fernández-Santos, Y./del Pilar Sierra-Fernández, M. (2018): How Well Have Social Economy Financial Institutions Performed During the Crisis Period? Exploring Financial and Social Efficiency in Spanish Credit Unions. Journal of Business Ethics, Vol. 151(2), 319–336.  Google Scholar
  63. Martínez-Campillo, A./Wijesiri, M./Wanke, P. (2020): Evaluating the Double Bottom-Line of Social Banking in an Emerging Country: How Efficient are Public Banks in Supporting Priority and Non-priority Sectors in India? Journal of Business Ethics, Vol. 162(2), 399–420.  Google Scholar
  64. Meriläinen, J.-M. (2016): Lending growth during the financial crisis and the sovereign debt crisis: The role of bank ownership structure. Journal of International Financial Markets, Institutions and Money, Vol. 41, 168–182.  Google Scholar
  65. Mersland, R./Nyarko, S. A./Szafarz, A. (2019): Do social enterprises walk the talk? Assessing microfinance performances with mission statements. Journal of Business Venturing Insights, Vol. 11, e00117.  Google Scholar
  66. Meyer, J./Krauss, A. (2021): The social performance of microfinance investment vehicles. Journal of Sustainable Finance & Investment, Vol. 11(2), 163–186.  Google Scholar
  67. Mook, L./Handy, F. (2010): Social accounting for value creation in nonprofits. In: Seaman, B. A./Young, R. A. (Eds.), Handbook of Research on Nonprofit Economics and Management (263–279), Edward Elgar.  Google Scholar
  68. Oesterreichische Nationalbank (2021): Financial Stability Report 41, Vienna.  Google Scholar
  69. Pacelli, V./Pampurini, F./Sylos Labini, S. (2019): The peculiarity of the cooperative and mutual model: Evidence from the European banking sector. Journal of Financial Management, Markets and Institutions, Vol. 7(1), 1940001.  Google Scholar
  70. Papke, L. E./Wooldridge, J. M. (1996): Econometric methods for fractional response variables with an application to 401(k) plan participation rates. Journal of Applied Econometrics, Vol. 11(6), 619–632.  Google Scholar
  71. Pérez, A./Martínez, P./Rodríguez del Bosque, I. (2013): The development of a stakeholder-based scale for measuring corporate social responsibility in the banking industry. Service Business, Vol. 7(3), 459–481.  Google Scholar
  72. Piatti, D. (2014): Italian mutual banks: Corporate social and financial performance. European Scientific Journal, Vol. 10(4).  Google Scholar
  73. Piatti, D./Cincinelli, P. (2015): Measuring social efficiency: The case of Italian mutual banks. Academy of Accounting and Financial Studies Journal, Vol. 19(2), 205–224.  Google Scholar
  74. Raab, S./Welzel, P. (2011): The Economics of Regional Demarcation in Banking. Schmalenbach Business Review, Vol. 63(2), 120–144.  Google Scholar
  75. Rawhouser, H./Cummings, M./Newbert, S. L. (2019): Social Impact Measurement: Current Approaches and Future Directions for Social Entrepreneurship Research. Entrepreneurship Theory and Practice, Vol. 43(1), 82–115.  Google Scholar
  76. Rebai, S./Azaiez, M. N./Saidane, D. (2016): A multi-attribute utility model for generating a sustainability index in the banking sector. Journal of Cleaner Production, Vol. 113, 835–849.  Google Scholar
  77. Reichling, P./Schulze, G. (2018): Regional Differences in the Efficiency of German Savings Banks. Credit and Capital Markets, Vol. 51(3), 445–464.  Google Scholar
  78. Richter, F./Christians, U./Hartl, F. (2018): Effizienz der Banken. Zeitschrift für das gesamte Genossenschaftswesen, Vol. 68(1), 29–47.  Google Scholar
  79. Richter, T./Gischer, H. (2019): Zur Leistungsfähigkeit europäischer Banken: Ist die Aufwand-Ertrag-Relation ein belastbarer Indikator? Betriebswirtschaftliche Forschung und Praxis, Vol. 71(3), 354–382.  Google Scholar
  80. San-Jose, L./Retolaza, J. L./Gutierrez-Goiria, J. (2011): Are Ethical Banks Different? A Comparative Analysis Using the Radical Affinity Index. Journal of Business Ethics, Vol. 100(2), 151–173.  Google Scholar
  81. San-Jose, L./Retolaza, J. L./Lamarque, E. (2018): The Social Efficiency for Sustainability: European Cooperative Banking Analysis. Sustainability, Vol. 10(9), 3271.  Google Scholar
  82. San-Jose, L./Retolaza, J. L./Torres Pruñonosa, J. (2014): Efficiency in Spanish banking: A multistakeholder approach analysis. International Financial Markets, Institutions and Money, Vol. 32, 240–255.  Google Scholar
  83. Santos Silva, J. M. C./Tenreyro, S./Wei, K. (2013): FLEX: Stata module for flexible pseudo maximum likelihood estimation of models for doubly-bounded data. Statistical Software Components S457735, Boston College Department of Economics.  Google Scholar
  84. Schackmann-Fallis, K.-P./Gischer, H./Weiß, M. (2018): A Case for Boring Banking and Re-Intermediation. Applied Economics Quarterly, Vol. 64(3), 199–238.  Google Scholar
  85. Scholtens, B. (2009): Corporate Social Responsibility in the International Banking Industry. Journal of Business Ethics, Vol. 86(2), 159–175.  Google Scholar
  86. Schulz-Nieswandt, F./Köstler, U. (2012): Sparkassen und Kreditgenossenschaften – zwei ungleiche Zwillinge?! Zeitschrift für öffentliche und gemeinwirtschaftliche Unternehmen, Vol. 35(3), 345–356.  Google Scholar
  87. Sealey, C. W./Lindley, J. T. (1977): Inputs, Outputs, and a Theory of Production and Cost at Depository Financial Institutions. Journal of Finance, Vol. 32(4), 1251–1266.  Google Scholar
  88. Serrano Pérez, M. E. (2017): SEBI index: Measuring the commitment to the principles of social banking. Contaduría y Administración, Vol. 62(4), 1393–1407.  Google Scholar
  89. Shen, C.-H./Wu, M.-W./Chen, T.-H./Fang, H. (2016): To engage or not to engage in corporate social responsibility: Empirical evidence from global banking sector. Economic Modelling, Vol. 55, 207–225.  Google Scholar
  90. Sierra-Fernández, M.-P./Martínez-Campillo, A./Fernández-Santos, Y. (2019): An evaluation of social management in Spanish credit unions during the banking crisis. Business and Management Review, Vol. 10(3), 266–275.  Google Scholar
  91. Simar, L./Wilson, P. W. (2007): Estimation and inference in two-stage, semi-parametric models of production processes. Journal of Econometrics, Vol. 136(1), 31–64.  Google Scholar
  92. Staessens, M./Kerstens, P. J./Bruneel, J./Cherchye, L. (2019): Data Envelopment Analysis and Social Enterprises: Analysing Performance, Strategic Orientation and Mission Drift. Journal of Business Ethics, Vol. 159(2), 325–341.  Google Scholar
  93. Tabak, B. M./Miranda, R. B./Fazio, D. M. (2013): A geographically weighted approach to measuring efficiency in panel data: The case of US savings banks. Journal of Banking & Finance, Vol. 37(10), 3747–3756.  Google Scholar
  94. Thiem, O. G./Schiereck, D. (2022): Effizienz der deutschen Sparkassen in Zeiten von Niedrigzins und digitaler Transformation. Zeitschrift für Bankrecht und Bankwirtschaft (Journal of Banking Law and Banking), Vol. 34(5), 273–297.  Google Scholar
  95. Tischer, D./Yeoman, R./White, S./Nicholls, A./Michie, J. (2016): An Evaluative Framework for Mutual and Employee-Owned Businesses. Journal of Social Entrepreneurship, Vol. 7(3), 342–368.  Google Scholar
  96. Worthington, A. C. (2010): Frontier efficiency measurement in deposit-taking financial mutuals: A review of techniques, applications, and future research directions. Annals of Public and Cooperative Economics, Vol. 81(1), 39–75.  Google Scholar
  97. Wrede, M. (2021): Lending by credit cooperatives, savings banks and other banks during the Covid-19 pandemic in Germany. Zeitschrift für das gesamte Genossenschaftswesen, Vol. 71(3), 192–209.  Google Scholar
  98. Wu, H.-Y./Tzeng, G.-H./Chen, Y.-H. (2009): A fuzzy MCDM approach for evaluating banking performance based on Balanced Scorecard. Expert Systems with Applications, Vol. 36(6), 10135–10147.  Google Scholar

Abstract

If banks’ performance is to be be evaluated against the objectives they actually pursue, assessments of stakeholder-oriented banks should go beyond financial efficiency. Furthermore, also the environment these institutions operate in has to be kept in mind when interpreting levels of managerial inefficiency. For 401 Austrian regional banks, this study compares financial efficiency to a measure of social efficiency that considers several kinds of stakeholder benefits. Both efficiency scores are calculated by use of data envelopment analysis. In a second estimation stage, we use truncated regression to account for differences in efficiency due to the market environment. Our results show that efficiency rankings across Austrian savings banks and credit cooperatives change considerably when their double bottom line and local market factors are considered. Both issues thus are important for adequate and fair performance benchmarking.

Table of Contents

Section Title Page Action Price
Johann Burgstaller / Katharina Dietl: Efficiency of Banks With a Double Bottom Line 1
Abstract 1
I. Introduction 1
II. Background and Literature Review 3
III. Data, Variables and Empirical Approach 10
IV. Results 16
1. Results on Efficiency Scores, Full Sample 16
2. Results on Efficiency Scores, Restricted Sample 17
3. Characteristics of Banks ‘Improving’ Most 18
4. Scale Efficiency 19
5. Correcting for Environmental Confounders 19
6. Sectoral Differences in Efficiency 22
V. Summary and Conclusions 24
References 25

Contact

Duncker & Humblot GmbH Carl-Heinrich-Becker-Weg 9 12165 Berlin, Deutschland T: +49 30 790006-0

Quick Navigation

2024 Duncker & Humblot GmbH

Powered by CloudPublish

We use cookies to ensure that you get the best experience on our website. Learn more about how we use cookies.