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Measurement of capital stock and input services of Spanish banks

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Author Info
Alfredo Martín-Oliver () (Banco de España)
Vicente Salas-Fumás () (Banco de España, Universidad de Zaragoza)
Jesús Saurina () (Banco de España)

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Abstract

This paper contains estimates of physical and intangible (information technology, advertising and training) capital stock, together with capital, labor and externally provided input services, of Spanish commercial and saving banks in the period 1983 to 2003. Capital stocks are valued at replacement costs and assets’ services flows are computed using estimates of the risk-adjusted user cost of capital. Replacement costs of assets are substantially higher than book values and economic estimates of costs of input services allow for more accurate measures of efficiency and productivity of banks.

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File URL: http://www.bde.es/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/07/Fic/dt0711e.pdf
File Format: application/pdf
File Function: First version, May 2007
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Publisher Info
Paper provided by Banco de España in its series Banco de España Working Papers with number 0711.

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Length: 48 pages
Date of creation: May 2007
Date of revision:
Handle: RePEc:bde:wpaper:0711

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Related research
Keywords: Spanish banks; intangible assets; cost of capital services;

Find related papers by JEL classification:
G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages
G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Investment Policy
M41 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Accounting

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Frank R. Lichtenberg, 1996. "The Output Contributions of Computer Equipment and Personnel: A Firm- Level Analysis," NBER Working Papers 4540, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  2. Edward J. Green & Jose A. Lopez & Zhenyu Wang, 2003. "Formulating the imputed cost of equity capital for priced services at Federal Reserve banks," Economic Policy Review, Federal Reserve Bank of New York, issue Sep, pages 55-81. [Downloadable!]
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This page was last updated on 2009-12-21.


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