This paper uses accounting data to provide estimates of productive efficiency in Portuguese banking. A model of the production process of the banking firm consistent with the characteristics of this kind of data is presented. This framework differs from existing literature on the explicit...

In this paper we assess the impact of financial disintermediation on bank efficiency, with a focus on securitisation and bank-managed funds. For that purpose we use Banco de Portugal's proprietary database, which combines both accounting and statistical data for each single bank operating in...