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Cost Efficiency and Returns to Scope in Italian Investment Firms

Author

Listed:
  • Marcello Basili
  • Fulvio Fontini

Abstract

This paper estimates cost efficiency and returns to scope of Italian investment firms during the period 1998-2002, following the stochastic frontier function approach. Results indicate a large inefficiency for Italian investment firms (with a high standard deviation across sample) and the absence of significant returns to scope

Suggested Citation

  • Marcello Basili & Fulvio Fontini, 2005. "Cost Efficiency and Returns to Scope in Italian Investment Firms," Department of Economics University of Siena 450, Department of Economics, University of Siena.
    • Handle: RePEc:usi:wpaper:450
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    File URL: http://repec.deps.unisi.it/quaderni/450.pdf
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    More about this item

    Keywords

    Stochastic Frontier; Efficiency; Returns to scope; Investment Firms;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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