Showing 1 - 10 of 23
The analysis of efficiency and productivity in banking has received a great deal of attention for almost three decades now. However, most of the existing literature to date has not explicitly accounted for risk when measuring efficiency. We propose an analysis of profit efficiency taking into...
Persistent link: https://www.econbiz.de/10010772988
The literature analyzing the efficiency of financial institutions has evolved rapidly over the last twenty years. Most research has focused on the input side, analyzing either cost, input technical efficiency or input allocative efficiency, whereas comparatively fewer studies have examined the...
Persistent link: https://www.econbiz.de/10010772993
Persistent link: https://www.econbiz.de/10010877609
Persistent link: https://www.econbiz.de/10005015370
Persistent link: https://www.econbiz.de/10005192126
We study the effects of the interplay between banking deregulation and corporate governance on the lending behavior of savings banks in Spain. The removal of branching barriers that constrained these banks has led to a nationwide expansion, increasing the number of their branches and their...
Persistent link: https://www.econbiz.de/10005112840
This article analyzes the role of liquidity in the sovereign credit default swap (CDS) market. We employ a continuous-time specification to incorporate illiquidity as an additional pricing factor of default swap contracts for the most developed economies. The illiquidity discount process is...
Persistent link: https://www.econbiz.de/10010939130
Recently (April 2000), the New Market index began to be computed in the Spanish Stock Exchange as a relevant indicator of the new technological firms’ behavior in the Spanish economy. This paper provides empirical evidence about the relationships between the return and volatility of Spanish...
Persistent link: https://www.econbiz.de/10005106819
Forward exchange rate unbiassedness is rejected for international exchange markets. This paper proposes a stochastic general equilibrium model which generates substantial variability in the magnitude of predictable excess returns. Simulation exercises suggest that high persistency in the...
Persistent link: https://www.econbiz.de/10005115612
Recently (April 2000), the New Market index began to be computed in the Spanish Stock Exchange as a relevant indicator of the new technological firms' behaviour in the Spanish economy. This paper provides empirical evidence about the relationships between the return and volatility of Spanish...
Persistent link: https://www.econbiz.de/10005452331