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The joint estimation of bank-level market power and efficiency

Delis, Manthos D; Tsionas, Efthymios - Volkswirtschaftliche Fakultät, … - 2009

The aim of this study is to provide a methodology for the joint estimation of efficiency and market power of individual banks. The proposed method utilizes the separate implications of the new empirical industrial organization and the stochastic frontier literatures and suggests identification...

Persistent link: https://www.econbiz.de/10005835502

Evaluating cost and profit efficiency: a comparison of parametric and nonparametric methodologies

Delis, Manthos D; Koutsomanoli-Filippaki, Anastasia; … - Volkswirtschaftliche Fakultät, … - 2008

The objective of this article is 2-fold. First, it provides an empirical assessment of the cost and profit stochastic frontiers based on a panel dataset of Greek commercial banks over the period 1993 to 2005. Second, on the basis of the same sample, it also compares the most widely used...

Persistent link: https://www.econbiz.de/10005835677

Competitive conditions in the Central and Eastern European banking systems

Delis, Manthos D - Volkswirtschaftliche Fakultät, … - 2008

The aim of this study is to conduct a large-scale empirical analysis of the competitive conditions in the banking systems of Central and Eastern European countries. The well-known model of Panzar and Rosse (1987) is implemented on bank-level data over the period 1999-2006. The estimates based on...

Persistent link: https://www.econbiz.de/10005836278

On the measurement of market power in the banking industry

Delis, Manthos D; Staikouras, Christos; Varlagas, Panagiotis - Volkswirtschaftliche Fakultät, … - 2008

This paper compares the estimates of the two most widely used non-structural models for market power measurement in banking, namely the conduct parameter method and the revenue test, as applied to a panel of Greek banks over the period 1993-2004. We also propose a dynamic reformulation of these...

Persistent link: https://www.econbiz.de/10005836996

Foreign ownership and market power in banking: Evidence from a world sample

Delis, Manthos D; Kokas, Sotiris - Volkswirtschaftliche Fakultät, … - 2014

Using a novel global data set with bank-year estimates of market power, we examine the impact of (i) the ownership status (foreign or domestic) of individual banks and (ii) the country-level trends in foreign bank presence on our market power estimates. We find that the ownership status of...

Persistent link: https://www.econbiz.de/10011259865

Anxious periods and bank lending

Delis, Manthos D; Kouretas, Georgios; Tsoumas, Chris - Volkswirtschaftliche Fakultät, … - 2011

Using a number of theoretical considerations, we define distinct periods of anxiety for key economic agents that are involved in lending decisions; namely, consumers, CEOs, and banks. The main characteristic of anxious periods is that the perceptions and expectations about economic conditions...

Persistent link: https://www.econbiz.de/10009220095

A new method to estimate the risk of financial intermediaries

Delis, Manthos D; Tsionas, Efthymios - Volkswirtschaftliche Fakultät, … - 2011

In this paper we reconsider the formal estimation of the risk of financial intermediaries. Risk is modeled as the variability of the profit function of a representative intermediary, here bank, as formally considered in finance theory. In turn, banking theory suggests that risk is determined...

Persistent link: https://www.econbiz.de/10009369618

The risk-taking channel of monetary policy in the USA: Evidence from micro-level data

Delis, Manthos D; Hasan, Iftekhar; Mylonidis, Nikolaos - Volkswirtschaftliche Fakultät, … - 2011

There is a growing consensus that a prolonged period of low interest rates can exert a negative impact on financial stability through the risk-taking incentives of banks. Using micro-level datasets from the US banking sector, this paper finds evidence of a highly significant negative...

Persistent link: https://www.econbiz.de/10009325571

Enforcement actions and bank behavior

Delis, Manthos D; Staikouras, Panagiotis; Tsoumas, Chris - Volkswirtschaftliche Fakultät, … - 2013

) on bank capital, risk, and performance. We find that high risk weighted asset ratios tend to attract supervisory … the involved banks, possibly because they come too late. Sanctions targeting internal control and risk management … attention should be placed on the timely uncovering of internal control and risk management deficiencies as this would allow the …

Persistent link: https://www.econbiz.de/10011111185

On the estimation of marginal cost

Delis, Manthos D; Iosifidi, Maria; Tsionas, Efthymios - Volkswirtschaftliche Fakultät, … - 2012

This article proposes a general empirical method for the estimation of marginal cost of individual firms. The new method employs the smooth coefficient model, which has a number of appealing features when applied to cost functions. The empirical analysis uses data from a unique sample from which...

Persistent link: https://www.econbiz.de/10011112856