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Regional growth and finance in Europe: Is there a quality effect of bank efficiency?

Hasan, Iftekhar; Koetter, Michael; Wedow, Michael - Suomen Pankki - 2009

In this study, we test whether regional growth in 11 European countries depends on financial development and suggest the use of cost- and profit-efficiency estimates as quality measures for financial institutions. Contrary to the usual quantitative proxies for financial development, the quality...

Persistent link: https://www.econbiz.de/10004979445

Banking sector output and labour productivity in six European countries

Mörttinen, Leena - Suomen Pankki - 2002

discussion on possible causes of productivity change in banking. We demonstrate how the banking sector’s service production can … productivity Tornqvist indices for six countries (Finland, Sweden, United Kingdom, Germany, France and Italy) over a period varying … from 11 to 20 years. According to the results, Finnish banking sector productivity has improved via a substantial reduction …

Persistent link: https://www.econbiz.de/10005207148

Total factor productivity growth in European stock exchanges: A non-parametric frontier approach

Schmiedel, Heiko - Suomen Pankki - 2002

This paper examines progressive changes in productivity of the European stock exchange industry using non …-parametric frontier techniques. Within the framework of Malmquist indices, total factor productivity growth is decomposed into … 1993–1999. The principal findings indicate an overall rise in productivity over the sample period, which is driven more by …

Persistent link: https://www.econbiz.de/10005423705

Crisis performance of European banks – does management ownership matter?

Westman, Hanna - Suomen Pankki - 2014

Failure in bank corporate governance has been seen as a contributing factor to excessive risk-taking pre-crisis with devastating implications as risks realised during the financial crisis. Unfortunately, the empirical evidence on the impact of managerial incentives on bank crisis performance is...

Persistent link: https://www.econbiz.de/10011082590

Managers and efficiency in banking

Kauko, Karlo - Suomen Pankki - 2007

This paper presents evidence on the impact of managers on cost efficiency in banking. Stochastic frontier analysis is applied to a unique Finnish data set. The paper finds that manager age and education have strong yet complicated effects. University education enhances efficiency if the manager...

Persistent link: https://www.econbiz.de/10005190734

Technological development and concentration of stock exchanges in Europe

Schmiedel, Heiko - Suomen Pankki - 2001

This paper provides an explanation of technical inefficiencies of financial exchanges in Europe as well as an empirical … provision of trading services in Europe. Over the sample period, European exchanges notably improved their ability to …

Persistent link: https://www.econbiz.de/10005648980

Credit crunch? An empirical test of cyclical credit policy

Herrala, Risto - Suomen Pankki - 2009

In this paper we test the hypothesis that credit policies are pro-cyclical. Our approach is based on a stochastic frontier analysis of borrower data, as in Chen and Wang (2008). We extend the applicability of the approach, and propose a novel test specification which is informative of many types...

Persistent link: https://www.econbiz.de/10004979447

The adverse selection problem in imperfectly competitive credit markets

Mälkönen, Ville; Vesala, Timo - Suomen Pankki - 2006

We study the adverse selection problem in imperfectly competitive credit markets and illustrate the circumstances where a separating equilibrium emerges, even without collateral. The borrowers are heterogeneous in their preferences concerning the banks. Separation obtains in market segments...

Persistent link: https://www.econbiz.de/10005648893

Investment-cash flow sensitivities, credit rationing and financing constraints

Becchetti, Leonardo; Castelli, Annalisa; Hasan, Iftekhar - Suomen Pankki - 2008

The controversy over whether investment-cash flow sensitivity is a good indicator of financing constraints is still unresolved. We tackle it from several different angles and cross-validate our analysis with both balance sheet and qualitative data on self-declared credit rationing and financing...

Persistent link: https://www.econbiz.de/10005648945

The Effects of Competition on Banks’ Risk Taking with and without Deposit Insurance

Niinimäki, Juha-Pekka - Suomen Pankki - 2000

We consider the joint effect of competition and deposit insurance on risk taking by banks when the riskiness of banks is unobservable to depositors. It turns out that the magnitude of risk taking depends on the type of bank competition. If the bank is a monopoly or banks compete only in the loan...

Persistent link: https://www.econbiz.de/10005648946