Nontraditional activities and bank efficiency revisited: a distributional analysis for Spanish financial institutions

Journal of Economics and Business - Tập 55 - Trang 371-395 - 2003
Emili Tortosa-Ausina1
1Departament d’Economia, Universitat Jaume I, Campus del Riu Sec, 12071 Castelló de la Plana, Spain

Tài liệu tham khảo

Alam, 2001, A nonparametric approach for assessing productivity dynamics of large US banks, Journal of Money, Credit, and Banking, 33, 121, 10.2307/2673875 Allen, 1998, The theory of financial intermediation, Journal of Banking and Finance, 21, 1461, 10.1016/S0378-4266(97)00032-0 Allen, 2001, What do financial intermediaries do?, Journal of Banking and Finance, 25, 271, 10.1016/S0378-4266(99)00129-6 Altunbaş, 2001, Bank ownership and efficiency, Journal of Money, Credit, and Banking, 33, 926, 10.2307/2673929 Altunbaş, 2001, Efficiency in European banking, European Economic Review, 45, 1931, 10.1016/S0014-2921(00)00091-X Altunbaş, 1996, Economies of scale and scope in European banking, Applied Financial Economics, 6, 367, 10.1080/096031096334187 Avery, 1991, Loan commitments and bank risk exposure, Journal of Banking and Finance, 15, 173, 10.1016/0378-4266(91)90045-N Bauer, 1998, Consistency conditions for regulatory analysis of financial institutions: A comparison of frontier efficiency methods, Journal of Economics and Business, 50, 85, 10.1016/S0148-6195(97)00072-6 Berger, 1997, Problem loans and cost efficiency in commercial banks, Journal of Banking and Finance, 21, 849, 10.1016/S0378-4266(97)00003-4 Berger, 2001, Efficiency barriers to the consolidation of the European financial services industry, European Financial Management, 7, 117, 10.1111/1468-036X.00147 Berger, 1997, Efficiency of financial institutions: International survey and directions for future research, European Journal of Operational Research, 98, 175, 10.1016/S0377-2217(96)00342-6 Berger, 1997, Inside the black box: What explains differences in the efficiencies of financial institutions?, Journal of Banking and Finance, 21, 895, 10.1016/S0378-4266(97)00010-1 Boot, 1991, Off-balance sheet liabilities, deposit insurance and capital regulation, Journal of Banking and Finance, 15, 825, 10.1016/0378-4266(91)90102-R Charnes, 1978, Measuring the efficiency of decision making units, European Journal of Operational Research, 2, 429, 10.1016/0377-2217(78)90138-8 Clark, 2002, X-efficiency in banking: Looking beyond the balance sheet, Journal of Money, Credit, and Banking, 34, 987, 10.1353/mcb.2002.0053 Danthine, J.-P., Giavazzi, F., Vives, X., & von Thadden, E.-L. (1999). The future of European banking (Vol. 9). Monitoring European Integration. London: Center for Economic Policy Research. Devaney, 2002, Small-business lending and profit efficiency in commercial banking, Journal of Financial Services Research, 22, 225, 10.1023/A:1019733226515 DeYoung, R. (1994). Fee-based services and cost efficiency in commercial banks. Federal Reserve Bank of Chicago, Proceedings: Conference on Bank Structure and Competition. DeYoung, 2001, Product mix and earnings volatility at commercial banks: evidence from a degree of leverage model, Journal of Financial Intermediation, 10, 54, 10.1006/jfin.2000.0305 Dietsch, 2000, How the environment determines banking efficiency. a comparison between French and Spanish industries, Journal of Banking and Finance, 24, 985, 10.1016/S0378-4266(99)00115-6 Edwards, 1995, The decline of traditional banking: Implications for financial stability and regulatory policy, Federal Reserve Bank of New York Economic Policy Review, 1, 27 Elyasiani, 1992, Productive efficiency performance of minority and nonminorityowned banks: A nonparametric approach, Journal of Banking and Finance, 16, 933, 10.1016/0378-4266(92)90033-V Elyasiani, 1995, The comparative efficiency performance of small and large US commercial banks in the pre- and post-deregulation eras, Applied Economics, 27, 1069, 10.1080/00036849500000090 European Central Bank. (2000). EU banks’ income structure. Other publications. Frankfurt am Main, Germany: European Central Bank. Fernández de Guevara, 2001, Operaciones fuera de balance en el sistema bancario español, Revista de Economía Aplicada, 9, 209 Ferrier, 1990, Measuring cost efficiency in banking, Journal of Econometrics, 46, 229, 10.1016/0304-4076(90)90057-Z Fuentelsaz, 2001, Strategic and queue effects on entry in Spanish banking, Journal of Economics and Management Strategy, 10, 529, 10.1162/105864001753356097 Fuentelsaz, 2002, Followers’ entry timing: Evidence from the Spanish banking sector after deregulation, Strategic Management Journal, 23, 245, 10.1002/smj.222 Gibbons, J. D. (1993). Nonparametric statistics. An introduction. Number 090 in quantitative applications in the social sciences. Newbury Park, California: Sage Publications. Gorton, 1995, Corporate control, portfolio choice, and the decline in banking, Journal of Finance, 50, 1377, 10.2307/2329321 Grifell-Tatjé, 1996, Deregulation and productivity decline: The case of Spanish savings banks, European Economic Review, 40, 1281, 10.1016/0014-2921(95)00024-0 Grifell-Tatjé, 1997, The sources of productivity change in Spanish banking, European Journal of Operational Research, 98, 365, 10.1016/S0377-2217(96)00353-0 Hassan, 1992, An empirical analysis of bank standby letters of credit risk, Review of Financial Economics, 2, 31, 10.1002/j.1873-5924.1992.tb00554.x Hassan, 1993, The off-balance sheet banking risk of large US commercial banks, The Quarterly Review of Economics and Finance, 33, 51, 10.1016/1062-9769(93)90028-I Hassan, 1994, Deposit insurance, market discipline and off-balance sheet banking risk of large US commercial banks, Journal of Banking and Finance, 18, 575, 10.1016/0378-4266(94)90010-8 Hassan, 1994, A methodological investigation of risk exposure of bank off-balance sheet loan commitment activities, The Quarterly Review of Economics and Finance, 34, 283, 10.1016/1062-9769(94)90028-0 Hunter, 1995, Core deposits and physical capital: A reexamination of bank scale economies and efficiency with quasi-fixed inputs, Journal of Money, Credit, and Banking, 27, 165, 10.2307/2077857 Jagtiani, 1996, Scale and scope economies at large banks: Including off-balance sheet products and regulatory effects (1984–1991), Journal of Banking and Finance, 20, 1271, 10.1016/0378-4266(95)00048-8 Jagtiani, 1995, Scale and cost complementarities in commercial banks: On- and off-balance sheet activities, Journal of Banking and Finance, 19, 1175, 10.1016/0378-4266(94)00078-H Kaufman, G. G. (1993). The diminishing role of commercial banks in the US economy. In L. H. White (Ed.), The crisis in American banking (pp. 139–159). New York: New York University Press. Kaufman, 1994, Is banking a declining industry? A historical perspective, Economic Perspectives, 18, 2 Kumbhakar, 2001, The effects of deregulation on the performance of financial institutions: The case of Spanish savings banks, Journal of Money, Credit, and Banking, 33, 101, 10.2307/2673874 Leibenstein, 1966, Allocative efficiency versus “X-efficiency”, American Economic Review, 56, 392 Lloyd-Williams, 1994, Market structure and performance in Spanish banking, Journal of Banking and Finance, 18, 433, 10.1016/0378-4266(94)90002-7 Lozano-Vivas, 1997, Profit efficiency for Spanish savings banks, European Journal of Operational Research, 98, 382 Lozano-Vivas, 1998, Efficiency and technical change for Spanish banks, Applied Financial Economics, 8, 289, 10.1080/096031098333041 McAllister, 1993, Resolving the scale efficiency puzzle in banking, Journal of Banking and Finance, 17, 389, 10.1016/0378-4266(93)90039-G Mester, 1992, Traditional and nontraditional banking: An information-theoric approach, Journal of Banking and Finance, 16, 545, 10.1016/0378-4266(92)90044-Z Mester, 1997, Measuring efficiency at US banks: accounting for heterogeneity is important, European Journal of Operational Research, 98, 230, 10.1016/S0377-2217(96)00344-X Mitchell, 1996, Economies of scale and scope at large commercial banks: Evidence from the Fourier flexible functional form, Journal of Money, Credit, and Banking, 28, 178, 10.2307/2078022 Prior, 1994, Eficiencia técnica de las cajas de ahorros españolas y sus factores determinantes, Papeles de Economía Española, 58, 141 Quah, D. T. (1997). Regional cohesion from local isolated actions. II. Conditioning. Discussion Paper 379, CEPR. Resti, 1997, Evaluating the cost-efficiency of the Italian banking system: What can be learned from the joint application of parametric and non-parametric techniques?, Journal of Banking and Finance, 21, 221, 10.1016/S0378-4266(96)00036-2 Robertson, D. D. (2001). A Markov view of bank consolidation. Economic and Policy Analysis Working Paper 2001-4, Offce of the Comptroller of the Currency. Rogers, 1998, Nontraditional activities and the efficiency of US commercial banks, Journal of Banking and Finance, 22, 467, 10.1016/S0378-4266(98)00020-X Rogers, 1999, An analysis of nontraditional activities at US commercial banks, Review of Financial Economics, 8, 25, 10.1016/S1058-3300(99)00005-1 Santomero, 1998, Financial innovation and bank risk taking, Journal of Economic Behavior and Organization, 35, 25, 10.1016/S0167-2681(97)00103-0 Sathye, 2001, X-efficiency in Australian banking: An empirical investigation, Journal of Banking and Finance, 25, 613, 10.1016/S0378-4266(00)00156-4 Sealey, 1977, Inputs, outputs and a theory of production and cost at depository financial institutions, Journal of Finance, 32, 1251, 10.2307/2326527 Stokey, N. L., & Lucas, R. E. (1989). Recursive methods in economic dynamics. Cambridge, MA: Harvard University Press. Tortosa-Ausina, 2002, Exploring efficiency differences over time in the Spanish banking industry, European Journal of Operational Research, 139, 643, 10.1016/S0377-2217(01)00199-0 Vives, 1990, Deregulation and competition in Spanish banking, European Economic Review, 34, 403, 10.1016/0014-2921(90)90113-D Vives, X. (1991a). Banking competition and European integration. In A. Giovannini & C. Mayer (Eds.), European financial integration (Chap. 2). Cambridge: Cambridge University Press. Vives, 1991, Regulatory reform in European banking, European Economic Review, 35, 505, 10.1016/0014-2921(91)90152-9 Wand, 1994, Multivariate plug-in bandwidth selection, Computational Statistics, 9, 97 Wheelock, 2001, New evidence on returns to scale and product mix among US commercial banks, Journal of Monetary Economics, 47, 653, 10.1016/S0304-3932(01)00059-9