This paper investigates the different effects of competition and securitization on US bank efficiency between 2001 and 2019. Using Propensity Score Matching (PSM) and a two-step dynamic Generalized Method of Moments (GMM) estimation, we find that higher securitization increases banks’ cost...

This paper uses the stochastic econometric cost frontier approach to investigate the cost efficiency of commercial banks in Hong Kong. On average, the X-efficiency of Hong Kong banks is found to be about 16 to 30 per cent of observed total costs, which is comparable to the findings in the U.S....

The aim of this study is to examine the profitability behaviour of bank-specific, industryrelated and macroeconomic determinants, using an unbalanced panel dataset of South Eastern European (SEE) credit institutions over the period 1998-2002. The estimation results indicate that, with the...

Many developing countries have suffered under the personal rule of kleptocrats', who implement highly inefficient economic policies, expropriate the wealth of their citizens, and use the proceeds for their own glorification or consumption. We argue that the success of kleptocrats rests, in part,...

This paper attempts to estimate comparable efficiency scores for European banks operating in the Single Market in the EU. Using a data set of more than 5000 large commercial banks from all major European banking markets over the period 1993-2004, the application of meta-frontiers enables us to...

This book bridges the disciplines of micro-economics and social policy in general, and, in particular, behavioral/explanatory social policy and public choice theory, plus Leibenstein's X-efficiency theory. Being trained as an economist and social policy scientist, the author leaps out of the...

We model how individuals and firms adapt beliefs, heuristics, mental frameworks and norms to changed circumstances. Adaptation competes with other work for limited mental resources. We apply our model to firms experiencing a technology shock. It is optimal for some firms to disband rather than...

Using a sample of US banks between 2001 and 2013, this paper investigates the impact of competition on bank efficiency, the bank-specific factors that increase the likelihood of securitization, the previously untested impact of securitization on efficiency, and the effect of the interaction...

This paper investigates relative efficiency of the Islamic banking industry in the world by analyzing a panel of banks during the period of 1995-2001. Both parametric (cost and profit efficiency) and nonparametric (data envelopment analysis) techniques are used to examine efficiency of these...

This article aims to explain the idea of X-efficiency, which indicates the difference between potential and actual output. If any business subject produces below its own potentials, it can be considered X-inefficient. To determine whether X-inefficiency in Croatian companies exists, how large it...

Pension funds' operating costs come at the cost of benefits, so it is crucial for pension funds to operate at the lowest cost possible. In practice, we observe substantial differences in costs per member for Dutch pension funds, both across and within size classes. This paper discusses scale...

Pension funds' operating costs come at the cost of benefits, so it is crucial for pension funds to operate at the lowest cost possible. In practice, we observe substantial differences in costs per member for Dutch pension funds, both across and within size classes. This paper discusses scale...

Around the globe, a number of researches are conducted to measure the X-efficiency of banking sector. The obvious reason is that economic growth, macroeconomic stability and expansion of monetary policy are directly dependent on banking sector performance and efficiency in any country (Berger &...

European business services have experienced about two decades of almost zero productivity growth. The paper investigates whether this is caused by weak dynamic market selection. The time pattern of scale-related inefficiencies is used as an indicator for the effectiveness of market selection.We...

1. Introduction -- 2. Two beginnings -- 3. The "Big 3." Simon, Katona, Leibenstein -- 4. It didn't just happen overnight -- 5. Leibenstein before X-efficiency theory -- 6. X-efficiency. An intervening variable -- 7. Empirical research on XE: : c 1967-1990 -- 8. XE among US financial institutions...

This paper examines the properties of the X-inefficiencies in U.S. bank holding companies derived from both stochastic and linear programming frontiers. This examination allows the robustness of results across methods to be compared. While we find that calculated programming inefficiency scores...

A subjective well-being approach is followed to assess the magnitude of inefficiency in the use of income. The information comes from a Mexican survey and an X-inefficiency technique is used. The paper shows that there exists substantial inefficiency in the use of income at all income levels,...

A subjective well-being approach is followed to assess the magnitude of inefficiency in the use of income. The information comes from a Mexican survey and an X-inefficiency technique is used. The paper shows that there exists substantial inefficiency in the use of income at all income levels,...

Islamic banking is a growing worldwide phenomenon involving a variety of institutions and instruments. Previously, Islamic banks? transactions made up a small part of the total banking industry. Recently, Islamic banks have significantly expanded their network, and have been able to mobilize a...

When a company operates outside of its home country, it may suffer a ‘liability of foreignness.' Does this a priori theoretical expectation hold in the global banking industry? Banks increasingly compete outside of their home countries, and operating environments often differ sharply across...

We investigate whether the relationship between competition and risk varies across different types of Japanese banks over the period 2000-2009. The results of our empirical investigation show that risk varies across bank types. Specifically, nationwide (City and Trust) banks are riskier on...