Tochkov, Kiril; Nenovsky, Nikolay - In: Emerging Markets Finance and Trade 47 (2011) 1, pp. 113-129
This paper examines the efficiency of Bulgarian banks and its determinants over the period 1999-2007. The levels of technical, allocative, and cost efficiency are estimated using a nonparametric methodology and then regressed on a number of bankspecific, institutional, and EU-related factors....