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An authoritative introduction to efficiency and productivity analysis with applications in both the banking and finance industry In light of the recent global financial crisis, several studies have examined the efficiency of financial institutions. A number of open questions remain and this book reviews recent issues and state-of-the-art techniques in the assessment of the efficiency and productivity of financial institutions. Written by an international team of experts, the first part of the book links efficiency with a variety of topics like Latin American banking, market dis.

"Through the 1990s and early part of the 21st centrury, the Greek banking sector witnessed fundamental change because of its preparations for the entry into the Eurozone, with deregulation, technological improvements, mergers, preparations for the Euro, and high growth and profits. More recently, Greek banks have found themselves at the heart of the financial crisis and in headlines around the globe. From a period of growth and considerably high levels of profitability, Greek banks found themselves battling with the trimming of Greek bonds, a considerable decrease in demand in the local market, and a sharp increase in non-performing loans. What are the characteristics of the Greek banking system? Is it able to survive the crisis? What lies ahead? This book answers these questions by providing a discussion of the Greek banking system from the mid-1990s up to the end of 2011. It covers topics including profitability, bank risk, corporate governance, structure, and the macroeconomic, institutional and regulatory environment of the Greek banking sector"--Provided by publisher.

Summarization: Using a data set of approximately 3,000 commercial banks from more than 100 countries, I examine the impact of financial consumer protection policies on the cost of financial intermediation. I find evidence that the existence of internal mechanisms for handling complaints, requirements for fair treatment, supervisory power related to consumer protection, and various disclosure requirements reduce the cost of financial intermediation in advanced countries. The results are different in the case of developing countries, where I observe that most financial consumer protection policies increase the cost of intermediation, suggesting that banks pass on regulatory burdens to their customers. ; Presented on:

Summarization: Using bank level data this paper examines how bank's specific characteristics and the overall banking environment affect the profitability of commercial domestic and foreign banks operating in the 15 EU countries over the period 1995–2001. The results indicate that profitability of both domestic and foreign banks is affected not only by bank's specific characteristics but also by financial market structure and macroeconomic conditions. All the variables, with the exception of concentration in the case of domestic banks profits, are significant although their impact and relation with profits is not always the same for domestic and foreign banks. ; Presented on: Research in International Business and Finance

AbstractThis paper examines the impact of three culturally endorsed leadership prototypes on bank lending corruption. We bring together studies that approach the corruption of bank lending officers from the perspective of a principal-agent problem and studies from the leadership literature, suggesting leadership as an alternative to contractual solutions to agency problems. We hypothesize, based on these views, that culturally endorsed leadership styles that improve (worsen) the leader-subordinate relationships have a negative (positive) effect on bank lending corruption. Using a sample of around 3,500 firms from 36 countries, we find that the prosocial leadership prototype and the nonautonomous leadership prototype do not matter, whereas the self-serving leadership prototype has a positive and statistically significant effect on bank lending corruption. These findings are robust to the inclusion of various control variables in the regressions, and alternative estimation approaches, including ones that account for endogeneity concerns. Furthermore, we find that the power of bank regulators and the age of the credit information sharing mechanism play a moderating role in the relationship between the self-serving leadership prototype and bank lending corruption.

AbstractThe literature suggests that trust can influence the behavior of economic agents and improve access to financing for both households and corporations. Subsequently, this might have implications for the consumption of households and the investments of corporations. Therefore, trust could mitigate the negative impact of financial stress on economic growth. To test this hypothesis, we use a sample of EU countries over the period 2002–2020 and examine the interaction of trust with financial stress in shaping GDP growth. The interaction term enters the estimations with a positive and statistically significant coefficient, and it therefore mitigates the negative impact of financial stress on economic growth. Furthermore, by disaggregating the GDP into its four main components, we find that the moderating effect of trust flows through the two main components of GDP mentioned above, namely households' consumption and firms' investments. Additionally, we observe that the interaction effect becomes weaker in countries with a higher economic freedom and is strengthened in centre and left‐wing governments compared to right‐wing economically oriented ones.

AbstractIn this paper, we use a sample of 894 banks from 79 countries to develop a multicriteria decision aid model, for the classification of banks into three groups on the basis of their soundness. The model is developed with the UTilités Additives DIScriminantes (UTADIS) method, through a 10‐fold cross‐validation procedure using six financial and four non‐financial variables. The ratings of Fitch form the basis for assigning banks into the three groups. The results indicate that the asset quality (as measured by loan loss provisions), capitalization, and the market where banks operate are the most important criteria (in terms of weights) in classifying the banks. Profitability and efficiency in expenses management are also important attributes, whereas size and listing in a stock exchange are the least important ones. UTADIS achieves higher classification accuracies than discriminant analysis and ordinary logistic regression which are used for benchmarking purposes. Copyright © 2007 John Wiley & Sons, Ltd.

Summarization: We investigate the determinants of commercial bank acquisitions in the former fifteen countries of the European Union by evaluating the impact of bank-specific measures, such as size, growth and efficiency of banks, and external influences reflecting industry level differences in the regulatory and supervision framework, market environment and economic conditions. Our empirical analysis involves multinomial logit estimation at various levels in order to identify those characteristics that most consistently predict targets and acquirers from a sample of over 1400 commercial banks. The overall results indicate that, relative to banks that were not involved in the acquisitions, (i) targets and acquirers were significantly larger, less well capitalized and less cost efficient, (ii) targets were less profitable with lower growth prospects, and acquirers more profitable with higher growth prospects, (iii) external factors have affected targets and acquirers differently, and their effects have not been consistent or robust to sample size changes. ; Presented on: Financial Markets, Institutions and Instruments