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Informationen zum Autor Fotios Pasiouras, Department of Production Engineering and Management, Technical University of Crete, Greece. Klappentext An authoritative introduction to efficiency and productivity analysis with applications in both the banking and finance industryIn light of the recent global financial crisis, several studies have examined the efficiency of financial institutions. A number of open questions remain and this book reviews recent issues and state-of-the-art techniques in the assessment of the efficiency and productivity of financial institutions. Written by an international team of experts, the first part of the book links efficiency with a variety of topics like Latin American banking, market discipline and governance, economics of scale, off-balance-sheet activities, productivity of foreign banks, mergers and acquisitions, and mutual fund ratings. The second part of the book compares existing techniques and state-of-the-art techniques in the bank efficiency literature, including among others, network data envelopment analysis and quantile regression.The book is suitable for academics and professionals as well as postgraduate research students working in banking and finance.Efficiency and Productivity Growth:* Provides an authoritative introduction to efficiency and productivity analysis with applications in both the banking and mutual funds industry such as efficiency of Asian banks, cooperatives and not-for-profit credit associations.* Explores contemporary research issues in the area of efficiency and productivity measurement in the financial sector.* Evaluates the most suitable approaches to selecting inputs and outputs as well as selecting the most efficient techniques, such as parametric and non-parametric, to estimate the models. Zusammenfassung An authoritative introduction to efficiency and productivity analysis with applications in both the banking and finance industry In light of the recent global financial crisis, several studies have examined the efficiency of financial institutions. Inhaltsverzeichnis Preface xiii Contributors xvii 1 Bank efficiency in Latin America 1 Philip Molyneux and Jonathan Williams 1.1 Introduction 1 1.2 Privatization and foreign banks in Latin America 2 1.3 Methodology 4 1.4 Model specification and data 7 1.5 Estimated parameters and cost efficiency 10 1.6 Conclusion 15 References 15 2 A primer on market discipline and governance of financial institutions for those in a state of shocked disbelief 19 Joseph P. Hughes and Loretta J. Mester 2.1 Introduction 20 2.2 Assessing the performance of financial institutions 21 2.3 Market discipline, public regulation, and the federal safety net 24 2.4 Sources of market discipline 27 2.4.1 Ownership structure 27 2.4.2 Capital markets 37 2.4.3 Product markets 37 2.4.4 Labor markets 39 2.4.5 Boards of directors 40 2.4.6 Compensation 41 2.5 Conclusions 42 Appendix 2.A: Measuring performance based on the highest potential market value of assets 43 References 44 3 Modeling economies of scale in banking: Simple versus complex models 49 Robert DeYoung 3.1 Introduction 49 3.2 The increasing size of banks 50 3.3 What has allowed banks to grow larger? 53 3.3.1 New banking technologies 53 3.4 Why do banks choose to be large? 54 3.4.1 Objectives of bank management 55 3.4.2 Government subsidies 56 3.4.3 Scale economies 56 3.5 Econometric modeling of bank scale economies 57 3.5.1 Findings from 50 years of studies 58 3.6 Weaknesses in econometric modeling of bank scale economies 60 3.6.1 Few and far between 61 3.6.2 Strategic groups 62 3.6.3 External costs 68 3...
