, especially country effects, and also suggest a preference for efficiency measures over financial measures of bank performance in … efficiency for eleven transition countries in an unbalanced panel consisting of 225 banks and 856 observations. Applying … stochastic frontier estimation procedures, we compute profit and cost efficiency scores taking account of both time and country …

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

This study investigates whether capital market values the efficiency of firms. 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 …