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In recent years, assets of non-bank financial intermediaries (NBFIs) have grown significantly relative to those of banks. These two sectors are commonly viewed either as operating in parallel, performing different activities, or as substitutes, performing substantially similar activities, with...
Persistent link: https://www.econbiz.de/10014528356
In the wake of the 2008/2009 financial crisis, a number of policy reports (Vickers, Liikanen, Volcker) proposed to separate investment banking from commercial banking to increase financial stability. This paper empirically examines one theoretical justification for these proposals, namely...
Persistent link: https://www.econbiz.de/10011435830
The traditional model of bank-led financial intermediation, where banks issue demandable deposits to savers and make informationally sensitive loans to borrowers, has seen a dramatic decline since 1970s. Instead, private credit is increasingly intermediated through arms-length transactions, such...
Persistent link: https://www.econbiz.de/10014486266
In the paper we investigate relative productivity levels and decompose productivity change for European agriculture between 2004 and 2013. More specifically (1) we contribute to the debate whether agricultural Total Factor Productivity (TFP) has declined or not in the European Union (EU); (2) we...
Persistent link: https://www.econbiz.de/10011538374
Scale characteristics are key properties of production functions that determine optimal firm sizes, and have considerable policy implications for sectors undergoing restructuring. However, estimates of scale characteristics typically vary with the assumptions of the underlying empirical model....
Persistent link: https://www.econbiz.de/10011453711
In this paper, we compare the efficiency of the Italian and German universities in the process of transforming public funding into the multiple outputs of a university, i.e. graduating students, publishing research, and patenting activity. We do this with a particular focus on the policies...
Persistent link: https://www.econbiz.de/10011716107
a four-stage DEA methodology based on the approach advocated by Fried - Schmidt - Yaisawarng (1999) and advanced by … Drake - Hall - Simper (2003), respectively. The latter approach improves upon the former by employing a slacks-based DEA … technical efficiency. In order to cope with the inherent dependency problem of DEA-based efficiency scores when incorporated …
Persistent link: https://www.econbiz.de/10011494192
. Analytically, we apply a multiple-stage approach based on a slacks-based DEA model (SBM) and a censored regression model …, respectively. In order to cope with the inherent dependency problem of DEA-based efficiency analysis when incorporated into … power of standard regression analysis based on DEA processed data. The empirical analysis is based on an unbalanced panel of …
Persistent link: https://www.econbiz.de/10011494575
, participated in a domestic intra-banking merger or acquisition operation since 1995. For this purpose we apply the DEA methodology … external determinants. In order to cope with the inherent dependency problem of DEA-based efficiency scores when incorporated …
Persistent link: https://www.econbiz.de/10011494585
This paper is aimed at exploring how X-efficiency or management quality is associated with one of the most vivid forms of international banking, that is, entering new markets by setting up foreign subsidiaries. The analysis focuses on the supposition that management quality ought to be one of...
Persistent link: https://www.econbiz.de/10011494638