The Determinants of Bank Efficiency and Productivity Growth in the Central and Eastern European Banking Systems

References

• Aigner, D.; C. Lovell; and P. Schmidt. 1977. "Formulation and Estimation of Stochastic Frontier Production Function Models." Journal of Econometrics 6, no. 1: 21-37.
   Google Scholar
• Alam, I. S. 2001. "A Nonparametric Approach for Assessing Productivity Dynamics of Large U. S. Banks." Journal of Money, Credit and Banking 33, no. 1: 121-139.
   Google Scholar
• Asaftei, G., and S. Kumbhakar. 2008. "Regulation and Efficiency in Transition: The Case of Romanian Banks." Journal of Regulatory Economics 33, no. 3: 253-282.
   Google Scholar
• Balk, B. M. 2001. "Scale Efficiency and Productivity Change." Journal of Productivity Analysis 15, no. 3: 159-183.
   Google Scholar
• Banker, R. D.; A. Charnes; and W. W. Cooper. 1984. "Some Models for Estimating Technical and Scale Inefficiencies in Data Envelopment Analysis." Management Science 30, no. 9: 1078-1092.
   Google Scholar
• Battese, G., and T. Coelli. 1988. "Prediction of Firm Level Technical Inefficiencies with a Generalized Frontier Production Function and Panel Data." Journal of Econometrics 38, no. 3: 387-399.
   Google Scholar
• Battese, G., and T. Coelli. 1992. "Frontier Production Functions, Technical Efficiency and Panel Data: With Application to Paddy Farmers in India." Journal of Productivity Analysis 3, nos. 1-2: 153-169.
   Google Scholar
• Battese, G., and T. Coelli. 1995. "A Model for Technical Inefficiency Effects in a Stochastic Frontier Production Function for Panel Data." Empirical Economics 20, no. 3: 325-332.
   Google Scholar
• Bauer, P.; A. Berger; and D. Humphrey. 1993. "Efficiency and Productivity Growth in U. S. Banking." In The Measurement of Productive Efficiency: Techniques and Applications, ed. H. O. Fried, C. A. Knox Lovell, and S. S. Schmidt, pp. 386-413. Oxford: Oxford University Press.
   Google Scholar
• Bauer, P.; A. Berger; G. Ferrier; and D. Humphrey. 1998. "Consistency Conditions for Regulatory Analysis of Financial Institutions: A Comparison of Frontier Efficiency Methods." Journal of Economic and Business 50, no. 2: 85-114;
   Google Scholar
• Beccalli, E.; B. Casu; and C. Girardone. 2006. "Efficiency and Stock Performance in European Banking." Journal of Business Finance and Accounting 33, nos. 1-2: 245-262.
   Google Scholar
• Berg, S. J.; F. R. Forsund; and E. S. Jansen. 1992. "Malmquist Indices and Productivity Growth During the Deregulation of Norwegian Banking: 1980-89." Scandinavian Journal of Economics 94: 211-228.
   Google Scholar
• Berger, A., and D. Humphrey. 1997. "Efficiency of Financial Institutions: International Survey and Directions for Future Research." European Journal of Operational Research 98, no. 2: 175-212.
   Google Scholar
• Berger, A., and L. Mester. 1997. "Inside the Black Box: What Explains Differences in the Efficiencies of Financial Institutions?" Journal of Banking and Finance 21, no. 7: 895-947.
   Google Scholar
• Berger, A., and L. Mester. 2003. "Explaining the Dramatic Changes in Performance of U. S. Banks: Technological Change, Deregulation, and Dynamic Changes in Competition." Journal of Financial Intermediation 12, no. 1: 57-95.
   Google Scholar
• Berger, A.; W. Hunter; and S. Timme. 1993. "The Efficiency of Financial Institutions: A Review and Preview of Research Past, Present and Future." Journal of Banking and Finance 17, nos. 2-3: 221-250.
   Google Scholar
• Bonin, J.; I. Hassan; and P. Wachtel. 2005. "Bank Performance, Efficiency and Ownership in Transition Countries." Journal of Banking and Finance 29, no. 1: 31-53.
   Google Scholar
• Casu, B., and C. Girardone. 2002."A Comparative Study of the Cost Efficiency of Italian Bank Conglomerates." Managerial Finance 28, no. 9: 3-23.
   Google Scholar
• Casu, B.; C. Girardone; and P. Molyneux. 2004. "Productivity Change in European Banking: A Comparison of Parametric and Non-Parametric Approaches." Journal of Banking and Finance 28, no. 10: 2521-2540.
   Google Scholar
• Caves, D.; I. Christensen; and W. Diewer. 1982. "Multilateral Comparisons of Output, Input and Productivity Using Superlative Index Number." Economic Journal 92, no. 365: 73-86.
   Google Scholar
• Chaffai, V. T.; V. Dietsch; and F. Lozano-Vivas. 2001. "Technological and Environmental Differences in the European Banking Industries." Journal of Financial Services Research 19, nos. 2-3: 147-162.
   Google Scholar
• Charnes, A.; W. W. Cooper; and E. Rhodes. 1978. "Measuring the Efficiency of Decision Making Units." European Journal of Operational Research 2, no. 6: 429-444.
   Google Scholar
• Cornwell, C.; P. Schmidt; and R. Sickles. 1990. "Production Frontiers with Cross-Sectional and Time-Series Variation in Efficiency Levels." Journal of Econometrics 46, nos. 1-2 (October-November): 185-200.
   Google Scholar
• Cuesta, R., and L. Orea. 2002. "Mergers and Technical Efficiency in Spanish Savings Banks: A Stochastic Distance Function Approach." Journal of Banking and Finance 26, no. 12: 2231-2247.
   Google Scholar
• Diewert, W., and A. Nakamura. 2003. "Index Number Concepts, Measures and Decompositions of Productivity Growth." Journal of Productivity Analysis 19, nos. 2-3: 127-159.
   Google Scholar
• Diewert, W., and A. Nakamura. 2005. "Concepts and Measures of Productivity: An Introduction." In Services Industries and the Knowledge Based Economy, ed. R. G. Lipsey and A. Nakamura, pp. 19-37. Calgary: University of Calgary Press.
   Google Scholar
• Färe, R.; S. Grosskopf; B. Lindgren; and P. Ross. 1992. "Productivity Changes in Swedish Pharmacies 1980-89: A Nonparametric Malmquist Approach." Journal of Productivity Analysis 3, nos. 1-2: 85-101
   Google Scholar
• Favero, C., and L. Papi. 1995. "Technical Efficiency and Scale Efficiency in the Italian Banking Sector: A Non-Parametric Approach." Applied Economics 27, no. 4: 385-395.
   Google Scholar
• Feng, G., and A. Serletis. 2010. "Efficiency, Technical Change, and Returns to Scale in Large U. S. Banks: Panel Data Evidence from an Output Distance Function Satisfying Theoretical Regularity." Journal of Banking and Finance 34, no. 1: 127-138.
   Google Scholar
• Fried, H.; C. Knox Lovell; and S. Schmid. 2008. The Measurement of Productive Efficiency and Productivity Growth. Oxford: Oxford University Press.
   Google Scholar
• Fries, S., and A. Taci. 2001. "Banking Reform and Development in Transition Economies." Working Paper no. 71, European Bank for Reconstruction and Development, London.
   Google Scholar
• Fries, S., and A. Taci. 2005. "Cost Efficiency of Banks in Transition: Evidence from 289 Banks in 15 Post-Communist Countries." Journal of Banking and Finance 29, no. 1: 55-81.
   Google Scholar
• Grifell-Tatje, E., and C. A. Knox Lovell. 1995. "A Note on the Malmquist Productivity Index." Economics Letters 47, no. 2: 169-175.
   Google Scholar
• Grifell-Tatje, E., and C. A. Knox Lovell. 1997. "The Sources of Productivity Change in Spanish Banking." European Journal of Operational Research 98, no. 2: 364-380.
   Google Scholar
• Grigorian, D., and V. Manole. 2002. "Determinants of Commercial Bank Performance in Transition: An Application of Data Envelopment Analysis." Working Paper no. 2850, World Bank, Washington, DC.
   Google Scholar
• Guzmán, I., and C. Reverte. 2008. "Productivity and Efficiency Change and Shareholder Value: Evidence from the Spanish Banking Sector." Applied Economics 40, no. 15: 2033-2040.
   Google Scholar
• Hasan, I., and K. Marton. 2003. "Development and Efficiency of the Banking Sector in a Transitional Economy." Journal of Banking and Finance 27, no. 12: 2249-2271.
   Google Scholar
• Havrylchyk, O. 2006. "Efficiency of the Polish Banking Industry: Foreign Versus Domestic Banks." Journal of Banking and Finance 30, no. 7: 1975-1996.
   Google Scholar
• Hoff, A. 2007. "Second Stage DEA: Comparison of Approaches for Modelling the DEA Score." European Journal of Operational Research 181, no. 1: 425-435.
   Google Scholar
• Isik, I., and K. Hassan. 2003. "Financial Deregulation and Total Factor Productivity Change: An Empirical Study of Turkish Commercial Banks." Journal of Banking and Finance 27, no. 8: 1455-1485.
   Google Scholar
• Koutsomanoli-Filippaki, A.; D. Margaritis; and C. Staikouras. 2009. "Efficiency and Productivity Growth in the Banking Industry of Central and Eastern Europe." Journal of Banking and Finance 33, no. 3: 557-567.
   Google Scholar
• Kumbhakar, S. 1987. "The Specification of Technical and Allocative Inefficiency in Stochastic Production and Profit Frontiers." Journal of Econometrics 34, no. 3: 335-348.
   Google Scholar
• Kumbhakar, S. 1990. "Production Frontiers, Panel Data and Time-Varying Technical Inefficiency." Journal of Econometrics 46, nos. 1-2 (October-November): 201-211.
   Google Scholar
• Kumbhakar, S., and C. Lovell. 2000. Stochastic Frontier Analysis. Cambridge: Cambridge University Press.
   Google Scholar
• Leamer, E., and H. Leonard. 1983. "Reporting the Fragility of Regression Estimates." Review of Economics and Statistics 65, no. 2: 306-317.
   Google Scholar
• Liu, S.-T. 2010. "Measuring and Categorizing Technical Efficiency and Productivity Change of Commercial Banks in Taiwan." Expert Systems with Applications 37, no. 4: 2783-2789.
   Google Scholar
• McAllister, P., and D. McManus. 1993. "Resolving the Scale Efficiency Puzzle in Banking." Journal of Banking and Finance 17, nos. 2-3: 389-405.
   Google Scholar
• McDonald, J. 2009. "Using Least Squares and Tobit in Second Stage DEA Efficiency Analyses." European Journal of Operational Research 197, no. 2: 792-798.
   Google Scholar
• McKillop, D.; J. Glass; and C. Ferguson. 2002. "Investigating the Cost Performance of UK Credit Unions Using Radial and Non-Radial Efficiency Measures." Journal of Banking and Finance 26, no. 8: 1563-1592.
   Google Scholar
• Meeusen, W., and J. van de Broeck. 1977. "Efficiency Estimation from Cobb-Douglas Production Functions with Compared Error." International Economic Review 18, no. 2: 435-444.
   Google Scholar
• Murillo-Zamorano, L. 2004. "Economic Efficiency and Frontier Techniques." Journal of Economic Surveys 18, no. 1: 33-77.
   Google Scholar
• Rebelo, J., and V. Mendes 2000. "Malmquist Indices of Productivity Change in Portuguese Banking: The Deregulation Period." International Advances in Economic Research 6, no. 3: 531-543.
   Google Scholar
• Rezitis, A. 2008. "Efficiency and Productivity Effects of Bank Mergers: Evidence from the Greek Banking Industry." Economic Modelling 25, no. 2: 236-254.
   Google Scholar
• Rossi, S.; M. Schwaiger; and G. Winkler. 2005. "Managerial Behavior and Cost/ Profit Efficiency in the Banking Sectors of Central and Eastern European Countries." Working Paper no. 96, Oesterreichische Nationalbank, Vienna.
   Google Scholar
• Tortosa-Ausina, E. 2002. "Banks Cost Efficiency and Output Specification." Journal of Productivity Analysis 18, no. 3: 199-222.
   Google Scholar
• Weill, L. 2003. "Banking Efficiency in Transition Economies: The Role of Foreign Ownership." Economics of Transition 11, no. 3: 569-592.
   Google Scholar
• Wheelock, D. C., and P. W. Wilson. 1999. "Technical Progress, Inefficiency, and Productivity Changes in U. S. Banking 1984-1993." Journal of Money, Credit, and Banking 31, no. 2: 212-234.
   Google Scholar
• Xue, M., and P. Harker. 1999. "Overcoming the Inherent Dependency of DEA Efficiency Scores: A Bootstrap Approach." Working Paper no. 99-17, Financial Institution Center, Wharton School, University of Pennsylvania, Philadelphia.
   Google Scholar
• Yildirim, S., and G. Philippatos. 2007. "Efficiency of Banks: Recent Evidence from the Transition Economies of Europe 1993-2000." European Journal of Finance 13, no. 2: 123-143.
   Google Scholar