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Persistent link: https://www.econbiz.de/10010824358
This study examines the relative performance of Japanese cooperative banks between 1998 and 2009, explicitly modelling non-performing loans as an undesirable output. Three key findings emerge. First, the sector is characterized by increasing returns to scale which supports the ongoing...
Persistent link: https://www.econbiz.de/10010824359
Recent stock price movements have led to a re-examination of the present value model. Typically, empirical studies have employed a long span of US stock market index data, and have attributed a failure to detect cointegration to the presence of bubbles. This study considers UK firm-level data,...
Persistent link: https://www.econbiz.de/10005632845