Cost functions and cost efficiency are commonly estimated for industries with detailed data on production and cost … performance. While a larger program expense ratio captures better administrative cost efficiency, it does not gauge best …-practice cost and the extent to which an organization's administrative costs exceed best practice. Using the Form 990 data, this …

-of-funding advantages conferred on large banks, we find that technological factors, not advantages in funding costs, account for their scale … economies. The literature does not indicate whether these benefits of larger size outweigh the potential costs in terms of …

also the risk-taking efficiency of those banks (i.e., whether taking an increased level of risk generates higher expected …

highest among the five groups, but their lending efficiency is also the highest. Thus, the high ratio of consumer …-practice ratio of nonperforming consumer loans - i.e., higher inherent credit risk. As of 2016, LendingClub's lending efficiency is … similar to the high average efficiency of the largest bank lenders - a conclusion that may not be applicable to other fintech …