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Multi-product Cost Attributes: A Study of U.K. Building Societies

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  • Hardwick, Philip

Abstract

A translog multiproduct cost function is estimated jointly with a derived input cost share equation to obtain estimates of overall economies of scale and "augmented" overall economies of scale for the U.K. building society industry. The augmented measure takes into account induced changes in the number of building society branch offices as the outputs vary. The parameter estimates are then used to compute the derivatives of the marginal costs of each product to test for product-specific economies of scale and economies of scope. Copyright 1990 by Royal Economic Society.

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  • Hardwick, Philip, 1990. "Multi-product Cost Attributes: A Study of U.K. Building Societies," Oxford Economic Papers, Oxford University Press, vol. 42(2), pages 446-461, April.
  • Handle: RePEc:oup:oxecpp:v:42:y:1990:i:2:p:446-61
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    Cited by:

    1. Michelle Haynes & Steve Thompson, 1999. "Merger Activity and Employment: Evidence from the UK Mutual Sector," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 26(1), pages 39-54, March.
    2. Agnès Labye & Christine Lagoutte & Françoise Renversez, 2002. "Banques mutualistes et systèmes financiers : une analyse comparative Allemagne, Grande-Bretagne, France," Revue d'Économie Financière, Programme National Persée, vol. 67(3), pages 85-109.
    3. Esho, Neil & Sharpe, Ian G., 1995. "Long-run estimates of technological change and scale economies in a dynamic framework: Australian permanent building societies, 1974-1990," Journal of Banking & Finance, Elsevier, vol. 19(7), pages 1135-1157, October.
    4. Obben, James, 1993. "Cost structure and technical change in rural banking," Agricultural Economics of Agricultural Economists, International Association of Agricultural Economists, vol. 8(3), March.
    5. Haynes, Michelle & Thompson, Steve, 1999. "The productivity effects of bank mergers: Evidence from the UK building societies," Journal of Banking & Finance, Elsevier, vol. 23(5), pages 825-846, May.
    6. Drake, Leigh & Simper, Richard, 2002. "Economies of scale in UK building societies: A re-appraisal using an entry/exit model," Journal of Banking & Finance, Elsevier, vol. 26(12), pages 2365-2382.
    7. Tara Deelchand & Carol Padgett, 2009. "Size and Scale Economies in Japanese Cooperative Banking," ICMA Centre Discussion Papers in Finance icma-dp2009-02, Henley Business School, Reading University.

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