banks in Hong Kong. On average, the X-efficiency of Hong Kong banks is found to be about 16 to 30 per cent of observed total … costs, which is comparable to the findings in the U.S. banking industry. X-efficiency is found to decline over time … Kong is found to be less efficient than the average small bank, particularly during the earlier time periods. Finally, X-efficiency …

A behavioural model of the firm is presented in this chapter that is derived from and extends both x-efficiency and … efficiency wage theory. In this model, which is referred to as the x-efficiency plus model, a key differentiating assumption from … decreasing the extent of firm x-efficiency and induced technological change, including fairness in firm organisation and the …