This paper addresses the relationship between profit and market concentration for the individual banking market. We employ a new model developed by Berger (1995) to test four competing hypotheses for the Turkish banking industry over the years 1988 to 1996. The data suggest that there is no...

This paper examines the volatility of Turkish stock market at the industry level over the period 1992- 1999. Since the nature and composition of the industries are not the same, we study the volatility of each industry separately. Individual firms are aggregated into 15 industries according to...

The deregulation and liberalization process towards establishing a single European financial market has some important implications for the insurance industries. Due to the increased competition, insurance firms have to adjust their costs and operate efficiently to survive in this new...

This paper investigates the volume-return volatility relationship for 25 individual stocks in the Turkish stock market, using daily data for the period 1998-2005. The results indicate that trading volume significantly contributes to the return volatility process of stocks in Turkish stock...

This paper examines whether there has been convergence of cost and profit efficiency levels among all European Union (EU) member and candidate countries following the process of legislative harmonization, using dynamic panel data models. The test results indicate evidence of β-<i>convergence and</i>...

This paper investigates the causal relationship between energy consumption, carbon dioxide emissions, economic growth, trade openness and urbanization for a panel of new EU member and candidate countries over the period 1992–2010. Panel unit root tests, panel cointegration methods and panel...

This paper investigates the effect of technical change on the costs of banking firms operating in 11 Central and Eastern European countries using Fourier-flexible cost function specification for the period 1995-2002. A common cost frontier with country-specific variables is employed in order to...

Using a sample of 272 commercial banks from fifteen Latin American countries for the period 2001-2008, we estimate cost and revenue efficiency scores, financial stability scores (Z-scores) and competition scores (Lerner indexes and Boone indicators) at the bank level. The Granger causality...