Similar Search Results

The future of large, internationally active banks : does scale define the winners?

Hughes, Joseph P.; Mester, Loretta J. - 2015

Our research as well as that by other authors has found scale economies at all sizes of banks and the largest scale economies at the largest banks – that is, larger banks are able to provide products at lower average cost than smaller banks. While the earlier literature found that scale...

Persistent link: https://www.econbiz.de/10011416928

Measuring the performance of banks : theory, practice, evidence, and some policy implications

Hughes, Joseph P.; Mester, Loretta J. - 2013

The unique capital structure of commercial banking - funding production with demandable debt that participates in the … economyś payments system - affects various aspects of banking. It shapes banks ́comparative advantage in providing financial … liabilities to reduce the probability of bank runs. These aspects of banking affect a bankś choice of risk vs. expected return …

Persistent link: https://www.econbiz.de/10009774419

Measuring agency costs and the value of investment opportunities of U.S. bank holding companies with stochastic frontier estimation

Hughes, Joseph P.; Mester, Loretta J.; Moon, Choon-geol - 2016

By eliminating the influence of statistical noise, stochastic frontier techniques permit the estimation of the best-practice value of a firmś investment opportunities and the magnitude of a firmś systematic failure to achieve its best-practice market value - a gauge of the magnitude of agency...

Persistent link: https://www.econbiz.de/10011490908

The elusive scale economies of the largest banks and their implications for global competitiveness

Hughes, Joseph P. - 2011

In the wake of the financial crisis that began in 2007, policy makers have focused again on the largest financial firms to consider the association of their size with systemic risk. An equally important question examines whether their size benefits the economy. In particular, is the size of our...

Persistent link: https://www.econbiz.de/10009388232