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 …

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 …

The objective of this paper is to discuss the use of modern frontier efficiency analysis to analyze firm performance in … research to incorporate the frontier efficiency approach. The chapter also serves as a guide for those who are already … conducting frontier efficiency analysis but are seeking guidance in using the methodology or defining inputs and outputs. We …

A non-parametric approach is used to examine the effects of globalization and deregulation on the efficiency and … efficient than small banks for most efficiency indices in both years. However, despite globalization, deregulation, and the … gains in technology and productivity, there was a decrease in overall efficiency for both large and small banks in 2003 …

, we find that the operating efficiency of the acquirers decreases around the acquisition, and up to three years after …-price return is not significantly associated with acquirer’s operating efficiency post-acquisition. Therefore, investors should be … merger efficiency gains. …

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

transparency) is positively associated with firm-level operational efficiency and access to external financing. Several cross … better-developed capital markets that facilitate capital allocation and production efficiency. Additional analyses using the …

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