Sensitivity analysis of efficiency and Malmquist productivity indices: An application to Spanish savings banks
AbstractHypothesis testing and statistical precision in the context of nonparametric efficiency and productivity measurement have been investigated since the early 1990s. Recent contributions focus on this matter through the use of resampling methods?i.e., bootstrapping techniques. However, empirical evidence is still practically non-existent. This gap is more noticeable in the case of banking efficiency studies, where the literature is immense. In this paper, we explore productivity growth and productive efficiency for Spanish savings banks over the (initial) post-deregulation period 1992?1998 using Data Envelopment Analysis (DEA) and bootstrapping techniques. Results show that productivity growth has occurred, mainly due to improvement in production possibilities, and that mean efficiency has remained fairly constant over time. The bootstrap analysis yields further evidence, as for many firms productivity growth, or decline, is not statistically significant. With regard to efficiency measurement, the bootstrap reveals that the disparities in the original efficiency scores of some firms are lessened to a great extent. Desde principios de los aÃ±os noventa ha habido avances notables en el contraste de hipÃ³tesis dentro del contexto de la mediciÃ³n de la eficiencia y la productividad mediante tÃ©cnicas paramÃ©tricas. Las contribuciones mÃ¡s recientes han enfocado el tema a travÃ©s de mÃ©todos de remuestreo -conocidos en la literatura como tÃ©cnicas bootstrap-. Sin embargo, prÃ¡cticamente no ha habido aplicaciones, algo tambiÃ©n patente en el estudio de la eficiencia de la empresa bancaria. En este artÃculo, analizamos la eficiencia productiva y el crecimiento de la productividad de las cajas de ahorro espaÃ±olas durante el periodo 1992-1998 a travÃ©s de tÃ©cnicas no paramÃ©tricas (DEA) y de tÃ©cnicas bootstrap, con el fin de poder realizar inferencia estadÃstica. Los resultados indican que la productividad ha aumentado, principalmente debido a una mejora en las posibilidad
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Bibliographic InfoArticle provided by Elsevier in its journal European Journal of Operational Research.
Volume (Year): 184 (2008)
Issue (Month): 3 (February)
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- Emili Tortosa Ausina, 2002. "Sensitivity Analysis Of Efficiency And Malmquist Productivity Indices: An Application To Spanish Savings Banks," Working Papers. Serie EC 2002-30, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
- C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- L5 - Industrial Organization - - Regulation and Industrial Policy
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