The purpose of this study is to investigate regional differences in the business characteristics of Japanese agricultural cooperatives (JAs), which have been widely criticized for depending on non-agricultural activities, contradictory to cooperative principles. We construct a panel data set...

We estimate economies of scale and scope as well as cost efficiency to explain the structure of the global reinsurance market, where large reinsurers dominate, but both diversified and specialized reinsurers play important roles. The costs and benefits of size and product diversification play...

This paper brings to the forefront the assumptions that we make when focusing on a particular type of explanation for bank profitability. We evaluate a broad field of research by introducing a general framework for a profit maximizing bank and demonstrate how different types of models can be...

Most bank efficiency studies that use stochastic frontier analysis (SFA) employ each bank's own implicit input price when estimating efficient frontiers. But the theoretical foundation of most studies is a cost minimisation and/ or profit maximisation problem assuming perfect input markets. At...

Suppose differentiated firms compete in quantities. This paper derives a formula for the minimum cost savings that would offset the incentive to increase price created by a merger. The formula depends only on pre-merger information on margins and demand slopes, and is invariant to demand and...

Empirical studies on efficiency of the governance system in agriculture are very rare. That is a consequence of both theoretical and practical challenges. The criteria and approach for assessing social efficiency are still debated while appropriate statistical, accountancy, etc. data for...

Contemporary agricultural companies are turning into complex businesses. Living in the countryside and running a holding is no longer a lifestyle but rather a business model aimed at manufacturing goods and bringing profit. In order to enhance their competitiveness, agricultural companies are...