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X-Efficiency of Australian Permanent Building Societies, 1974-1990

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  • Esho, Neil
  • Sharpe, Ian G

Abstract

This study examines X-efficiency of Australian Permanent Building Societies (PBSs) using the stochastic econometric frontier (SEF) approach and compares the results with those derived from an analysis of accounting ratios. It finds: (i) average X-inefficiency relative to the stochastic cost frontier of 25 per cent both pre- and post-deregulation of the Australian financial system; (ii) when the expense to total assets ratio is averaged over seven to ten years it produces very similar efficiency rankings to the SEF approach; (iii) PBSs in NSW and Western Australia are more efficient than those in other States; and (iv) Cost function dynamics has little effect on PBS X-efficiency. Copyright 1996 by The Economic Society of Australia.

Suggested Citation

  • Esho, Neil & Sharpe, Ian G, 1996. "X-Efficiency of Australian Permanent Building Societies, 1974-1990," The Economic Record, The Economic Society of Australia, vol. 72(218), pages 246-259, September.
  • Handle: RePEc:bla:ecorec:v:72:y:1996:i:218:p:246-59
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    Cited by:

    1. Andrew C. Worthington, 2010. "Frontier Efficiency Measurement In Deposit-Taking Financial Mutuals: A Review Of Techniques, Applications, And Future Research Directions," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 81(1), pages 39-75, March.
    2. Malcolm Abbott & Su Wu & Wei Wang, 2013. "The productivity and performance of Australia’s major banks since deregulation," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 37(1), pages 122-135, January.
    3. Tripe, David, 2003. "Trends in New Zealand Bank Efficiency over Time," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 3(1).
    4. Garden, Kaylee A. & Ralston, Deborah E., 1999. "The x-efficiency and allocative efficiency effects of credit union mergers," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 9(3), pages 285-301, August.

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