liquidity and market efficiency. The one-day program consisted of an opening speech, six presentations, including three keynotes …On 3 July 2015, SUERF organized its sixth joint conference with the Bank of Finland in Helsinki on the subject of …

develop a framework for analysing fluctuations in liquidity demand and assessing the efficiency of different settlement … costs are low enough relative to delay costs and if the liquidity arrangements are sufficiently flexible. The central bank … found to be effective at very low levels of liquidity. The efficiency of the different optimization methods for settlement …

groups of exchanges. We find significant variability in respect of the productivity – revenue and cost efficiency – across … also indicate that European exchanges have improved the most, in respect of cost efficiency, while exchanges in South … indicates that investment in technology-related developments effectively influenced cost and revenue efficiency. Moreover …

–1999. Overall cost inefficiency scores reveal that European exchanges operate at 20–25% above the efficiency benchmark. The results …

. University education enhances efficiency if the manager is running a large bank. Managing director changes are systematically …This paper presents evidence on the impact of managers on cost efficiency in banking. Stochastic frontier analysis is … followed by efficiency changes. Manager retirement typically causes an efficiency improvement, whereas other manager changes …

owners can increase Chinese bank efficiency. These findings suggest that minority foreign ownership of the big four is likely … dominant ‘big four’ state-owned banks. This paper seeks to help predict the effects of this change by analysing the efficiency … efficiency. We present corroborating robustness checks and offer several credible mechanisms through which minority foreign …

Recent cross-country comparisons of bank efficiency have been based on pooled estimates of banks across countries and … efficiency of banks in each country that operate both within and outside their own environments. The results indicate that … technical efficiency is a significant deterrence to foreign competition. …

important policy tools that the central bank may adopt to improve the technical and economic efficiency of payment systems. …Central bank spending on the operation of inter-bank funds transfer systems may range from below one million to nearly … efficiency in different countries and under alternative policy approaches. The key findings are as follows. First, strong scale …

This study investigates whether the capital market values the efficiency of firms. After tracing stock returns and … efficiency changes of 399 listed insurance firms in 52 countries during the 2002-2008 period, the paper reports a positive and … statistically significant relationship between profit efficiency change and market adjusted stock returns. However, there is no …