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Firm Efficiency and the Regulatory Closure of S&Ls: An Empirical Investigation

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  • Cebenoyan, A Sinan
  • Cooperman, Elizabeth S
  • Register, Charles A

Abstract

This paper uses a two-step methodology to examine the relationship between firm inefficiency and the regulatory closure of savings and loans (S&Ls). In the first step, using multiproduct, translog stochastic cost frontiers, the authors estimate inefficiency scores separately for mutual and stock S&Ls operating in the Southwest in 1988. They use the inefficiency scores in second step logit models to identify determinants of regulatory closure. For both mutual and stock S&Ls, the authors find a significant positive relationship between firm inefficiency and regulatory closure. They also find a greater probability of closure for S&Ls in economically depressed states. Copyright 1993 by MIT Press.

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Bibliographic Info

Article provided by MIT Press in its journal Review of Economics & Statistics.

Volume (Year): 75 (1993)
Issue (Month): 3 (August)
Pages: 540-45

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Handle: RePEc:tpr:restat:v:75:y:1993:i:3:p:540-45

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Web page: http://mitpress.mit.edu/journals/

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Cited by:
  1. Paul W. Bauer & Allen N. Berger & Gary D. Ferrier & David B. Humphrey, 1997. "Consistency conditions for regulatory analysis of financial institutions: a comparison of frontier efficiency methods," Financial Services working paper, Federal Reserve Bank of Cleveland 97-02, Federal Reserve Bank of Cleveland.
  2. Kablan, Sandrine & Yousfi, Ouidad, 2011. "Performance of islamic banks across the world: an empirical analysis over the period 2001-2008," MPRA Paper 28695, University Library of Munich, Germany, revised 07 Feb 2011.
  3. Wendy Edelberg & David Marshall, 1996. "Monetary policy shocks and long-term interest rates," Economic Perspectives, Federal Reserve Bank of Chicago, Federal Reserve Bank of Chicago, issue Mar, pages 2-17.
  4. Donald F. Vitaliano & Gregory Stella, 2004. "The Cost of Corporate Social Responsibility: The Case of the Community Reinvestment Act," Rensselaer Working Papers in Economics, Rensselaer Polytechnic Institute, Department of Economics 0412, Rensselaer Polytechnic Institute, Department of Economics.
  5. Richard S. Barr & Kory A. Killgo & Thomas F. Siems & Sheri Zimmel, 1999. "Evaluating the productive efficiency and performance of U.S. commercial banks," Financial Industry Studies Working Paper, Federal Reserve Bank of Dallas 99-3, Federal Reserve Bank of Dallas.
  6. Fatma Cebenoyan & A. Sinan Cebenoyan & Elizabeth S. Cooperman, 2003. "Regulatory Regimes and Takeovers of U.S. Thrifts," Economics Working Paper Archive at Hunter College, Hunter College Department of Economics 303, Hunter College Department of Economics.
  7. Andrew C. Worthington, 2009. "Frontier Efficiency Measurement in Deposit-taking Financial Mutuals: A Review of Techniques, Application, and Future Research Directions," Discussion Papers in Finance, Griffith University, Department of Accounting, Finance and Economics finance:200911, Griffith University, Department of Accounting, Finance and Economics.
  8. Zaghla, Abdessalem & Boujelbene, Younes, 2008. "Les Facteurs Explicatifs d'Efficience-X Dans Les Banques Tunisiennes : Une Approche De Frontière Stochastique
    [Explanatory Factors of X-Efficiency In The Tunisian Banks: A Stochastic Frontier Appr
    ," MPRA Paper 12437, University Library of Munich, Germany.
  9. González Bravo, M. Isabel & Mariaca Daza, René, 2010. "Fracaso de bancos comerciales. Un estudio de eficiencia y productividad," Revista Latinoamericana de Desarrollo Economico, Instituto de Investigaciones Socio-Económicas (IISEC), Universidad Católica Boliviana, issue 13, pages 137-162.
  10. Chen, Yu-Chuan & Chiu, Yung-Ho & Huang, Chin-Wei & Tu, Chien Heng, 2013. "The analysis of bank business performance and market risk—Applying Fuzzy DEA," Economic Modelling, Elsevier, Elsevier, vol. 32(C), pages 225-232.
  11. Iftekhar Hasan & William C. Hunter, 1996. "Management efficiency in minority- and women-owned banks," Economic Perspectives, Federal Reserve Bank of Chicago, Federal Reserve Bank of Chicago, issue Mar, pages 20-28.

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