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| Author: | Chronopoulos, D. K. Girardone, C. Nankervis, J. C. |
| Title: | Are there any cost and profit efficiency gains in financial conglomeration? Evidence from the accession countries |
| Journal: | European Journal of Finance
2011 : AUG-SEP, VOL. 17:7-8, p. 603-621 |
| Index terms: | financial markets conglomerate companies efficiency costs profit European Union models |
| Freeterms: | accession countries two-stage approach input-output definition Data Envelopment Analysis (DEA) |
| Language: | eng |
| Abstract: | This article sheds further light on the issue of bank diversification through a direct look into how efficiently financial conglomerates operate and by measuring to what extent size and other bank- and market-specific factors matter in evaluating the relationship between diversification and efficiency. It is focused on banks operating in the accession countries over the period 2001-2007, estimating the cost and alternative profit efficiencies using a data envelopment analysis estimator. The results indicate that banks suffer from relatively high cost and profit inefficiencies and that there are noticeable differences in the efficiency levels across countries. Concerning banks' degree of diversification, there is found strong evidence to suggest that more diversified institutions are more likely to be cost-and profit-efficient and that size is a key factor in explaining best practice, especially on the profit side. |
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