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Essays on profit efficiency, scale, ...

Tobon, Diego Alexander Restrepo.

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Essays on profit efficiency, scale, and productivity of U.S. banks.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Essays on profit efficiency, scale, and productivity of U.S. banks./
Author:	Tobon, Diego Alexander Restrepo.
Description:	119 p.
Notes:	Source: Dissertation Abstracts International, Volume: 74-12(E), Section: A.
Contained By:	Dissertation Abstracts International74-12A(E).
Subject:	Economics. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3590655
ISBN:	9781303306044

Essays on profit efficiency, scale, and productivity of U.S. banks.
Tobon, Diego Alexander Restrepo.

Essays on profit efficiency, scale, and productivity of U.S. banks. - 119 p.

Source: Dissertation Abstracts International, Volume: 74-12(E), Section: A.

Thesis (Ph.D.)--State University of New York at Binghamton, 2013.

This dissertation contains three chapters on profit efficiency, scale, and productivity of U.S. banks. Chapter 1 presents new evidence regarding the relation between profit, revenue, and cost efficiencies of U.S. commercial banks. Building on the widely used nonstandard profit function (NSPF) approach, we show (i) why estimation of the NSPF as commonly used in the literature is wrong and (ii) how revenue and cost efficiencies contribute to profit efficiency. Using data from U.S. commercial banks from 2001 to 2010, we find that losses due to profit inefficiency represents about 8.2% of banks' equity of which 3.5% is due to revenue inefficiency and 4.7% to cost inefficiency. Cost efficiency weighs more than revenue efficiency in estimated profit efficiency. However, compared with cost inefficiency, revenue inefficiency affects more overall profitability.

ISBN: 9781303306044Subjects--Topical Terms:

517137
Economics.

Essays on profit efficiency, scale, and productivity of U.S. banks.
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020 $a 9781303306044
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100 1 $a Tobon, Diego Alexander Restrepo. $3 3186039
245 1 0 $a Essays on profit efficiency, scale, and productivity of U.S. banks.
300 $a 119 p.
500 $a Source: Dissertation Abstracts International, Volume: 74-12(E), Section: A.
500 $a Adviser: Subal C. Kumbhakar.
502 $a Thesis (Ph.D.)--State University of New York at Binghamton, 2013.
520 $a This dissertation contains three chapters on profit efficiency, scale, and productivity of U.S. banks. Chapter 1 presents new evidence regarding the relation between profit, revenue, and cost efficiencies of U.S. commercial banks. Building on the widely used nonstandard profit function (NSPF) approach, we show (i) why estimation of the NSPF as commonly used in the literature is wrong and (ii) how revenue and cost efficiencies contribute to profit efficiency. Using data from U.S. commercial banks from 2001 to 2010, we find that losses due to profit inefficiency represents about 8.2% of banks' equity of which 3.5% is due to revenue inefficiency and 4.7% to cost inefficiency. Cost efficiency weighs more than revenue efficiency in estimated profit efficiency. However, compared with cost inefficiency, revenue inefficiency affects more overall profitability.
520 $a Chapter 2 presents new nonparametric measures of scale economies and TFP growth for U.S. banks. Unlike previous studies that use fully nonparametric models, our approach controls for time-invariant unobserved heterogeneity among banks in estimating returns to scale and TFP growth and its components. Using data for U.S. commercial banks from 2001 to 2010, we find evidence of significant scale economies across the entire bank size distribution. Returns to scale are persistent over time, decrease with bank size, and contribute significantly to TFP growth.
520 $a In Chapter 3, we derive new measures of returns to scale (RTS) based on input distance functions (IDF) and estimate them using nonparametric regression methods. Since IDF dispense with input prices, we can appropriately account for equity and physical capital in the IDF formulation. These items are traditionally excluded from the analysis (especially in a cost function approach) or treated as quasi fixed inputs given that their prices are unavailable or poorly measured. Using data for bank holding companies and large commercial banks in the U.S. (assets above $500 million) from 2000 to 2010, we find that although some of these institutions enjoy increasing returns to scale, RTS are economically small and unlikely to generate economies of scale above the social cost associated with the potential failure of big banking organizations.
590 $a School code: 0792.
650 4 $a Economics. $3 517137
650 4 $a Banking. $2 bicssc $3 1557594
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710 2 $a State University of New York at Binghamton. $b Economics. $3 1026728
773 0 $t Dissertation Abstracts International $g 74-12A(E).
790 $a 0792
791 $a Ph.D.
792 $a 2013
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3590655