Market structure and performance in Spanish banking using a direct measure of efficiency
AbstractThis paper analyses the relationship between market structure and performance within the Spanish banking industry. Three different stochastic measures of efficiency are used (based on three alternative distributional assumptions for inefficiency: half-normal, normal-truncated and exponential). The results obtained support the 'modified efficient structure' hypothesis since, even though efficiency is the main determinant of profitability, market power (as reflected in a market share variable), also affects profitability. The results obtained also show that market share is an inadequate proxy for efficiency.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Financial Economics.
Volume (Year): 8 (1998)
Issue (Month): 2 ()
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Web page: http://www.tandfonline.com/RAFE20
Other versions of this item:
- Joaquín Maudos Villarroya, 1996. "Market structure and performance in Spanish banking using a direct measure of efficiency," Working Papers. Serie EC 1996-12, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
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