Showing 1 - 10 of 128
This paper presents evidence on the impact of managers on cost efficiency in banking. Stochastic frontier analysis is …. University education enhances efficiency if the manager is running a large bank. Managing director changes are systematically … followed by efficiency changes. Manager retirement typically causes an efficiency improvement, whereas other manager changes …
Persistent link: https://www.econbiz.de/10005190734
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 … owners can increase Chinese bank efficiency. These findings suggest that minority foreign ownership of the big four is likely …
Persistent link: https://www.econbiz.de/10005419687
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. …
Persistent link: https://www.econbiz.de/10005423697
This paper presents first steps toward robust early-warning models. We conduct a horse race of conventional statistical methods and more recent machine learning methods. As early-warning models based upon one approach are oftentimes built in isolation of other methods, the exercise is of high...
Persistent link: https://www.econbiz.de/10011210508
This paper analyses the international transmission of monetary policy in a case where all export prices are set in US dollars. ‘Dollar pricing’ implies that the international effects of US monetary shocks are different to those of European shocks because of asymmetric exchange rate...
Persistent link: https://www.econbiz.de/10005207162
This study analyses cross-country correlations of stock prices (values of firms) using the basic New Open Economy Macroeconomics model. We show that cross-country correlations of stock prices greatly depend on the currency of export pricing in the case of monetary shocks but not notably for...
Persistent link: https://www.econbiz.de/10008509433
While the importance of currency movements to industry competitiveness is theoretically well established, there is little evidence that currency risk impacts US industries. Applying a conditional asset-pricing model to 36 US industries, we find that all industries have a significant currency...
Persistent link: https://www.econbiz.de/10005423685
This paper examines the role of the ECB communication activities on daily Eurodollar exchange rate and interest rates. We estimate the relationship between monetary policy and the exchange rate using a technique that explicitly recognises the joint determination of both the levels and...
Persistent link: https://www.econbiz.de/10005648902
Making use of ten years of daily data, this paper examines whether banking sector co-movements be-tween the three largest Central and Eastern European Countries (CEECs) can be attributed to contagion or to interdependence. Our tests based on simple unadjusted correlation analysis uncover...
Persistent link: https://www.econbiz.de/10005648954
This paper investigates leading indicators of systemic banking crises in a panel of 11 EU countries, with a particular focus on Finland. We use quarterly data from 1980Q1 to 2013Q2, in order to create a large number of macro-financial indicators, as well as their various transformations. We make...
Persistent link: https://www.econbiz.de/10010818986