Purpose - This paper examines whether earnings and its components are relevant and sufficient to bridge the gap between banks' market and book values, and also considers if bank efficiency is “value relevant” for banks valuation. Design/methodology/approach -This paper follows the value...

This paper examines the relationship between bank efficiency change and stock price returns. We first estimate the cost and profit efficiency of a sample of Asian and Latin American listed banks over the period 2000-2006 while controlling for cross-country differences such as regulations and the...

This paper discusses the effects of small banks on local economic growth. We first theoretically show that small banks operating at a regional level can spur local economic growth; the effect is stronger in regions with lower initial endowments. We then test the model predictions using a sample...

This paper investigates whether there has been an improvement and convergence of productive efficiency across European banking markets since the creation of the Single Internal Market. Using efficiency measures derived from DEA estimation we also evaluate the determinants of European bank...

This paper explores a wide range of corporate restructurings, all available deals from wire services, in the banking and insurance sectors that led to bancassurance ventures. An event study methodology is employed to calculate excess returns on and around the deals' announcement date. Using both...

This study investigates the main determinants of Italian banks' cost efficiency over the period 1993-1996, by employing a Fourier-flexible stochastic cost frontier in order to measure X-efficiencies and economies of scale. Quality and riskiness of bank outputs are explicitly accounted for in the...

This paper examines the main structural and performance features of European banking. It demonstrates that while banking markets have become increasingly concentrated and bank numbers have fallen, competition appears to have intensified. Given the large number of banks and branches in many...

This paper models the diffusion pattern of financial innovations. Our model distinguishes between two factors, internal and external influence, that determine banks' decision to adopt an innovation. Internal influence refers to competitive, strategic, and informational factors that are related...

This article examines empirically the effect of ownership structure on the corporate financing decision from the agency theory perspective. This article contributes to the literature by examining the static and the dynamic effects of managerial insiders and large shareholders' ownership on the...