We evaluate the efficiency of microfinance institutions (MFIs) using a structural approach which also captures these … improvements in efficiency can come from the growth or consolidations of MFIs, as we find substantial increasing returns to scale …

criteria: (i) profitability; (ii) risk; (iii) market power, and (iv) efficiency. We use this scorecard to compare the …

We analyze the effects of synergies from horizontal mergers in a Cournot oligopoly where principals provide their … agents with incentives to cut marginal costs prior to choosing output. We stress that synergies come at a cost which possibly … order to reduce her agency costs. Whenever this incentive effect dominates the well-known direct synergy effect, synergies …

-integration leads to higher investment incentives, potential synergies are foregone. Hence, integration can be optimal even though only …

This study evaluates the performance of international securities markets by analysing the efficiency, economies of … stock markets. At the heart of this study is an international comparison that explores productivity, efficiency, and … innovation of a wide range of stock exchanges over recent years. There is evidence of considerable variability in the efficiency …

crisis periods. These findings shed light on the dynamics of market efficiency. The results of the second test show a …

papers is to analyze the degree of implementation of SEPA in Romania and to investigate the impact on banking efficiency. The …