This paper examines shareholder value drivers in European banking focusing on the efficiency and productivity features of individual banks. In particular, we analyse the value relevance of bank cost efficiency and total factor productivity (TFP) (in all its components, including technological...

This paper examines the determinants of shareholder value creation for a large sample of European banks between 1998 and 2005. As the recent turmoil in global banking systems has illustrated, bank performance can have a substantial influence on efficient capital allocation, company growth and...

Purpose – The purpose of this paper is to analyse the creation of shareholder value (SHV) created by non‐depository financial institutions and, especially, by leasing and factoring (L&F) companies. Design/methodology/approach – The cost of capital of both L&F companies is estimated using...

Bancassurance has rapidly grown in Europe over the past 20 years catching the attention of managers and academia. Most dedicated studies have only been descriptive in nature, while the number of empirical studies is very limited. Potential efficiency gains are a poorly investigated issue, even...

This paper examines the determinants of shareholder value creation for a large sample of European banks. By using a panel data model, we find that bank profits and shareholder value are positively influenced by cost and profit efficiency, operational risk exposure, unexpected credit losses and...

This paper analyses the relationship between efficiency and shareholder return (using an Economic Value-Added or EVA measure) in the French, German, Italian and UK banking systems over the period of 1999–2002. Various hypotheses regarding the relationship between bank efficiency and...

We analyze the impact of efficiency on bank risk. We also consider whether bank capital has an effect on this relationship. We model the inter-temporal relationships among efficiency, capital and risk for a large sample of commercial banks operating in the European Union. We find that reductions...

We assess the inter-temporal relationship between bank efficiency, capital and risk in a sample of European commercial banks employing several definitions of efficiency, risk and capital and using the Granger-causality methodology in a panel data framework. Our results suggest that lower bank...

This article analyses the cost and profit efficiencies of cooperative banks. Cooperative banks are small financial institutions providing financial services in several local geographical areas, and they play a fundamental role in various European banking systems. Even though these small...