The recent financial crisis has plagued banking institutions around the world. Using a non-parametric (data envelopment analysis) approach, we measure operating and profit efficiency of 21 commercial banks from four countries during 2004-2010. The results suggest that for the most part there is...

Over the past two decades, considerable academic attention has been given to testing the relationship between accounting numbers and firm value. The Linear Information Model (LIM) has become popular for testing this relationship. Most studies find that the LIM has a negative bias relative to the...