The effects of geographic expansion on the productivity of Spanish savings banks

Akhigbe A, Whyte AM (2003) Changes in market assessments of bank risk following the Riegle-Neal Act of 1994. J Bank Financ 27(1):87–102 Allen F, Santomero AM (2001) What do financial intermediaries do? J Bank Financ 25:271–294 Avery RB, Bostic RW, Calem PS, Canner GB (1999) Consolidation and bank branching patterns. J Bank Financ 23:497–532 Bashtannyk DM, Hyndman RJ (2001) Bandwidth selection for kernel conditional density estimation. Comput Stat Data Anal 36:279–298 Berger AN, DeYoung R (2001) The effects of geographic expansion on bank efficiency. J Financ Serv Res 19(2–3):163–184 Berger AN, DeYoung R (2003) The economic effects of technological progress: evidence from the banking industry. J Money Credit Bank 35(2):141–176 Berger AN, DeYoung R (2006) Technological progress and the geographic expansion of the banking industry. J Money Credit Bank 38(6):1483–1513 Berger AN, Hanweck GA, Humphrey DB (1987) Competitive viability in banking: scale, scope, and product mix economies. J Monetary Econ 20:501–520 Berger AN, Kashyap AK, Scalise JM (1995) The transformation of the U.S. banking industry: what a long, strange trip it’s been. Brookings Pap Econ Act 2:55–218 Berger AN, Demsetz RS, Strahan PE (1999) The consolidation of the financial services industry: causes, consequences and implications for the future. J Bank Financ 23:135–194 Berger AN, De Young R, Genay H, Udell GF (2000) Globalization of financial institutions: evidence from cross-border banking performance. In: Litan RE, Santomero AM (eds) Papers on financial services, economics. Brookings Institution Press, Washington, DC, pp 23–158. http://brookings.nap.edu/books/0815752911/html/index.html Bofondi M, Gobbi G (2006) Informational barriers to entry into credit markets. Rev Finance 10(1):39–67 Bonaccorsi di Patti E, Gobbi G (2001) The changing structure of local credit markets: are small businesses special? J Bank Financ 25(12):2209–2237 Brockmann M, Gasser T, Herrmann E (1993) Locally adaptive bandwidth choice for kernel regression estimators. J Am Stat Assoc 88(424):1302–1309 Calem PS, Nakamura LI (1988) Branch banking and the geography of bank pricing. Rev Econ Stat 80:600–610 Carbó Valverde S, López del Paso R, Rodrfguez Fernández F (2003) Medición de la competencia en los mercados bancarios de las regiones españolas. Revista de Economfa Aplicada 9:197–227 Carow KA, Heron RA (1998) The interstate banking and branching efficiency act of 1994: a wealth event for acquisition targets. J Bank Financ 22(2):175–196 Carow KA, Lee WB (1997) State passage of interstate banking legislation: an analysis of firm, legislative, and economic characteristics. J Bank Financ 21(7):1017–1043 Caves DW, Christensen LR, Diewert WE (1982) The economic theory of index numbers and the measurement of input, output, and productivity. Econometrica 50(6):1393–1414 Clarke MZ (2004) Geographic deregulation of banking and economic growth. J Money Credit Bank 36(5):929–942 Crespí R, Garcfa-Cestona MA, Salas V (2004) Governance mechanisms in Spanish banks. Does ownership matter? J Bank Financ 28(10):2311–2330 Cyree KB, Wansley JW, Boehm TP (2000) Determinants of bank growth choice. J Bank Financ 24(5):709–734 Daraio C, Simar L (2005) Introducing environmental variables in nonparametric frontier models: a probabilistic approach. J Prod Anal 24:93–121 Deaton A (1989) Rice prices and income distribution in Thailand: a nonparametric analysis. Econ J 99:1–37 DeYoung R, Hasan I, Kirchhoff B (1998) The impact of out-of-state entry on the cost efficiency of local commercial banks. J Econ Bus 50:191–203 DeYoung R, Hughes JP, Choon-Geol M (2001) Efficient risk-taking and regulatory covenant enforcement in a deregulated banking industry. J Econ Bus 53:255–282 DeYoung R, Glennon D, Nigro P (2008) Borrower–lender distance, credit scoring, and loan performance: evidence from informational-opaque small business borrowers. J Financ Intermed 17(1):113–143 Dietsch M, Weill L (1999) Les performances des banques de dépôts françaises: une évaluation par la méthod DEA. In: Badillo PY, Paradi JC (eds) La Méthod DEA. Hermes Science Publications, Paris DiNardo J, Tobias JL (2001) Nonparametric density and regression estimation. J Econ Perspect 15(4):11–28 Edwards FR, Mishkin FS (1995) The decline of traditional banking: implications for financial stability and regulatory policy. Fed Reserve Bank New York Econ Pol Rev 1(2):27–45 Emmons WR, Gilbert RA, Yeager TJ (2001) The importance of scale economies and geographic diversification in community bank mergers. Working Paper 024A, Federal Reserve Bank of St. Louis Färe R, Grosskopf S, Lindgren B, Roos P (1992) Productivity change in Swedish pharmacies 1980–1989: a non-parametric Malmquist approach. J Prod Anal 3:85–101 Färe R, Grosskopf S, Norris M, Zhang Z (1994) Productivity growth, technical progress, and efficiency change in industrialized countries. Am Econ Rev 84(1):66–83 Farrell MJ (1957) The measurement of productive efficiency. J R Stat Soc [Ser A] 120:253–281 Fernández de Guevara J, Maudos J (2007) Explanatory factors of market power in the banking system. Manch Sch 75(3):275–296 Ferrier GD, Lovell CAK (1990) Measuring cost efficiency in banking. J Econom 46:229–245 Francisco-Fernández M, Vilar-Fernández J (2001) Local polynomial regression estimation with correlated errors. Commun Stat: Theory Methods 30(7):1271–1293 Fraser DR, Hooton JL, Kolari JW, Reising JJ (1997) The wealth effects of interstate branching. J Bank Financ 21(5):589–611 Freeman DG (2002) Did state bank branching deregulation produce large growth effects? Econ Lett 75(3):383–389 Fried HO, Lovell CAK, Vanden Eeckaut P (1993) Evaluating the performance of U.S. credit unions. J Bank Financ 17:251–265 Fried HO, Lovell CAK, Yaisawarng S (1999) The impact of mergers on credit union service provision. J Bank Financ 23:367–386 Fuentelsaz L, Gómez J (1998) Liberalización y ámbito geográfico de actuación: Un análisis para las cajas de ahorros. Papeles de Economfa Española 74–75:190–201 Fuentelsaz L, Gómez J (2001) Strategic and queue effects on entry in Spanish banking. J Econ Manag Strategy 10(4):529–563 Fuentelsaz L, Gómez J (2006) Multipoint competition, strategic similarity and entry into geographic markets. Strategic Manage J 27:477–499 Fuentelsaz L, Gómez J, Polo Y (2002) Followers’ entry timing: evidence from the Spanish banking sector after deregulation. Strategic Manage J 23(3):245–264 Fuentelsaz L, Gómez J, Polo Y (2004) La expansión de la red de oficinas de las cajas de ahorros. Perspectivas del Sistema Financiero 80:57–71 Garden KA, Ralston DE (1999) The x-efficiency and allocative efficiency effects of credit union mergers. J Int Fin Mkts 9:285–301 Gorton G, Rosen R (1995) Corporate control, portfolio choice, and the decline in banking. J Financ 50:1377–1419 Grifell-Tatjé E, Lovell CAK (1996) Deregulation and productivity decline: the case of Spanish savings banks. Eur Econ Rev 40(6):1281–1303 Grifell-Tatjé E, Lovell CAK (1997) The sources of productivity change in Spanish banking. Eur J Oper Res 98:365–381 Grosskopf S (1993) Efficiency and productivity. In: Fried HO, Lovell CAK, Schmidt SS (eds) The measurement of productive efficiency: techniques and applications, chapter 4, pp 161–193. Oxford University Press, Oxford Grosskopf S (2003) Some remarks on productivity and its decompositions. J Prod Anal 20:459–474 Hancock D (1991) A theory of production for the financial firm. Kluwer Academic Publishers, Boston Hannan TH, Prager RA (1998) The relaxation of entry barriers in the banking industry: an empirical investigation. J Financ Serv Res 14(3):171–188 Härdle W (1990) Applied nonparametric regression. Cambridge University Press, Cambridge Harker PT, Xue M (1999) Overcoming the inherent dependency of DEA efficiency scores: a bootstrap approach. Working paper, Wharton Financial Institutions Center Hart JR, Apilado VP (2002) Inexperienced banks and interstate mergers. J Econ Bus 54(3):313–330 Herrmann E (1997) Local bandwidth choice in kernel regression estimation. J Comput Graph Stat 6(1):35–54 Hirschberg JG, Lloyd PJ (2002) Does the technology of foreign-invested enterprises spill over to other enterprises in China? An application of post-DEA bootstrap regression analysis. In: Lloyd PJ, Zang XG (eds) Modelling the Chinese economy. Edward Elgar Press, London Huang R (2007) Evaluating the real effect of bank branching deregulation: comparing contiguous counties across US state borders. J Financ Econ 87:678–705 Hughes JP, Lang W, Mester LJ, Moon C-G (1996) Efficient banking under interstate branching. J Money Credit Bank 28(4):1045–1075 Hyndman RJ, Bashtannyk DM, Grunwald GK (1996) Estimating and visualizing conditional densities. J Comput Graph Stat 5(4):315–336 Illueca M, Norden L, Udell GF (2008) Liberalization, corporate governance, and savings banks. EFA 2008 Athens Meetings Paper Isik I, Hassan MK (2002) Technical, scale, and allocative efficiencies of Turkish banking industry. J Bank Financ 26(4):719–766 Jayaratne J, Strahan PE (1996) The finance-growth nexus: evidence from bank branch deregulation. Q J Econ 111(3):639–670 Jayaratne J, Strahan PE (1999) The benefits of branching deregulation. Regulation 22(1):8–16 Kano M, Tsutsui Y (2003) Geographical segmentation in Japanese bank loan markets. Reg Sci Urban Econ 33(2):157–174 Kaufman GG (1993) The diminishing role of commercial banks in the U.S. economy. In: White LH (ed) The crisis in American banking. New York University Press, New York, pp 139–159 Koenker R (2000) Galton, Edgeworth, Frisch, and prospects for quantile regression in econometrics. J Econom 95:347–374 Kumbhakar SC, Lozano-Vivas A, Lovell CAK, Hasan I (2001) The effects of deregulation on the performance of financial institutions: the case of Spanish savings banks. J Money Credit Bank 33(1):101–120 Lloyd-Williams DM, Molyneux P, Thornton J (1994) Market structure and performance in Spanish banking. J Bank Financ 18:433–443 Matasar AB, Heiney JN (2000) Lemonade or lemon? Riegle-Neal and the consolidation of American banking. Int Adv Econ Res 6(2):249–258 Merrett DT (2002) The internationalization of Australian banks. J Int Fin Markets, Inst, Money 12:377–397 Mukherjee K, Ray SC, Miller SM (2001) Productivity growth in large US commercial banks: the initial post-deregulation experience. J Bank Financ 25:913–939 Pastor JM (1995) Eficiencia, cambio productivo y cambio técnico en los bancos y cajas de ahorro españolas: un análisis de la frontera no paramétrico. Revista Española de Economía 12(1):35–73 Petersen M, Rajan R (2002) Does distance still matter? the information revolution in small business lending. J Financ 57(6):2533–2570 Petersen MA, Rajan RG (1995) The effect of credit market competition on lending relationships. Q J Econ 110(2):407–443 Ralston D, Wright A, Garden K (2001) Can mergers ensure the survival of credit unions in the third millenium? J Bank Financ 25:2277–2304 Ramírez CD (2003) Did branch banking restrictions increase bank failures? Evidence from Virginia and West Virginia in the late 1920s. J Econ Bus 55:331–352 Rogers KE (1998) Nontraditional activities and the efficiency of U.S. commercial banks. J Bank Financ 22:467–482 Rosenblatt M (1969) Conditional probability density and regression estimators. In: Krishnaiah PR (ed) Multivariate analysis, vol II. Academic Press, New York, pp 25–31 Sealey CW, Lindley JT (1977) Inputs, outputs and a theory of production and cost at depository financial institutions. J Finance 32(4):1251–1266 Shiers AF (2002) Branch banking, economic diversity and bank risk. Q Rev Econ Finance 42:587–598 Silverman BW (1986) Density estimation for statistics and data analysis. Chapman and Hall, London Simar L, Wilson PW (2007) Estimation and inference in two-stage, semi-parametric models of productive processes. J Econom 136(1):31–64 Strahan PE (2003) The real effects of U.S. banking deregulation. Fed Reserv Bank St. Louis Rev 85(4):111–128 Tortosa-Ausina E (2008) Operaciones fuera de balance y productividad: un anßlisis para el sistema bancario español. Perspectivas del Sistema Financiero Español 0(92):51–68 Wall HJ (2004) Entrepreneurship and the deregulation of banking. Econ Lett 82:333–339 Wheelock DC, Wilson PW (1999) Technical progress, inefficiency, and productivity change in US banking, 1984–1993. J Money Credit Bank 31(2):212–234