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Efficiency and Risk-Taking in Pre-Crisis Investment Banks

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  • Nemanja Radić

    ()

  • Franco Fiordelisi

    ()

  • Claudia Girardone

    ()

Abstract

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Suggested Citation

  • Nemanja Radić & Franco Fiordelisi & Claudia Girardone, 2012. "Efficiency and Risk-Taking in Pre-Crisis Investment Banks," Journal of Financial Services Research, Springer;Western Finance Association, vol. 41(1), pages 81-101, April.
  • Handle: RePEc:kap:jfsres:v:41:y:2012:i:1:p:81-101 DOI: 10.1007/s10693-011-0111-1
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    References listed on IDEAS

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    9. Bos, J.W.B. & Koetter, M. & Kolari, J.W. & Kool, C.J.M., 2009. "Effects of heterogeneity on bank efficiency scores," European Journal of Operational Research, Elsevier, vol. 195(1), pages 251-261, May.
    10. Robert DeYoung & Douglas Evanoff & Philip Molyneux, 2009. "Mergers and Acquisitions of Financial Institutions: A Review of the Post-2000 Literature," Journal of Financial Services Research, Springer;Western Finance Association, vol. 36(2), pages 87-110, December.
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    12. Joaquin Maudos & Jose Pastor & Francisco Perez, 2002. "Competition and efficiency in the Spanish banking sector: the importance of specialization," Applied Financial Economics, Taylor & Francis Journals, vol. 12(7), pages 505-516.
    13. Laurent Weill, 2007. "Is there a Gap in Bank Efficiency between CEE and Western European Countries?," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 49(1), pages 101-127, March.
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    15. J. Colin Glass & Donal McKillop, 2006. "The impact of differing operating environments on US Credit Union Performance, 1993-2001," Applied Financial Economics, Taylor & Francis Journals, vol. 16(17), pages 1285-1300.
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    Citations

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    Cited by:

    1. Mamatzakis, Emmanuel & Bermpei, Theodora, 2014. "What drives investment bank performance? The role of risk, liquidity and fees prior to and during the crisis," International Review of Financial Analysis, Elsevier, vol. 35(C), pages 102-117.
    2. repec:pdc:jrnbeh:v:13:y:2017:i:2:p:142-151 is not listed on IDEAS
    3. Radić, Nemanja, 2015. "Shareholder value creation in Japanese banking," Journal of Banking & Finance, Elsevier, vol. 52(C), pages 199-207.
    4. Safdar Husain Tahir & Muhammad Adnan Naeem & Hazoor Muhammad Sabir & Khuram Shehzad Aslam, 2016. "Capital structure and its major determinants: evidence from banking sector of Pakistan," African Journal of Economic and Sustainable Development, Inderscience Enterprises Ltd, vol. 5(2), pages 137-148.
    5. Sarmiento Paipilla, N.M. & Galán, Jorge E., 2015. "The Influence of Risk-taking on Bank Efficiency : Evidence from Colombia," Discussion Paper 2015-036, Tilburg University, Center for Economic Research.
    6. Delis, Manthos D. & Hasan, Iftekhar & Tsionas, Efthymios G., 2014. "The risk of financial intermediaries," Journal of Banking & Finance, Elsevier, vol. 44(C), pages 1-12.
    7. Fu, Xiaoqing (Maggie) & Lin, Yongjia (Rebecca) & Molyneux, Philip, 2014. "Bank efficiency and shareholder value in Asia Pacific," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 33(C), pages 200-222.
    8. repec:eee:riibaf:v:41:y:2017:i:c:p:90-104 is not listed on IDEAS
    9. mamatzakis, em, 2014. "The effect of corporate governance on the performance of US investment banks," MPRA Paper 60198, University Library of Munich, Germany.
    10. Akinci, Dervis Ahmet & Matousek, Roman & Radić, Nemanja & Stewart, Chris, 2013. "Monetary policy and the banking sector in Turkey," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 27(C), pages 269-285.
    11. Sarmiento, Miguel & Galán, Jorge E., 2014. "Heterogeneous effects of risk-taking on bank efficiency : a stochastic frontier model with random coefficients," DES - Working Papers. Statistics and Econometrics. WS ws142013, Universidad Carlos III de Madrid. Departamento de Estadística.
    12. Alfredo Martín Oliver & Sonia Ruano Pardo & Vicente Salas Fumás, 2014. "Productivity and welfare: an application to the Spanish banking industry," Working Papers 1426, Banco de España;Working Papers Homepage.
    13. Fiordelisi, Franco & Mare, Davide Salvatore, 2014. "Competition and financial stability in European cooperative banks," Journal of International Money and Finance, Elsevier, vol. 45(C), pages 1-16.
    14. Lee, Chi-Chuan & Huang, Tai-Hsin, 2017. "Cost efficiency and technological gap in Western European banks: A stochastic metafrontier analysis," International Review of Economics & Finance, Elsevier, vol. 48(C), pages 161-178.
    15. Ana Lozano-Vivas & Fotios Pasiouras, 2014. "Bank Productivity Change and Off-Balance-Sheet Activities Across Different Levels of Economic Development," Journal of Financial Services Research, Springer;Western Finance Association, vol. 46(3), pages 271-294, December.
    16. Mamatzakis, Emmanuel & Bermpei, Theodora, 2016. "What is the effect of unconventional monetary policy on bank performance?," Journal of International Money and Finance, Elsevier, vol. 67(C), pages 239-263.
    17. Demirbag, Mehmet & McGuinness, Martina & Akin, Ahmet & Bayyurt, Nizamettin & Basti, Eyup, 2016. "The professional service firm (PSF) in a globalised economy: A study of the efficiency of securities firms in an emerging market," International Business Review, Elsevier, vol. 25(5), pages 1089-1102.
    18. repec:eee:ememar:v:32:y:2017:i:c:p:52-73 is not listed on IDEAS

    More about this item

    Keywords

    Investment banking; Stochastic frontier analysis; Efficiency; Environmental conditions; Banking risks; D2; G24; G32; L25;

    JEL classification:

    • D2 - Microeconomics - - Production and Organizations
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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