Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/19755 
Kompletter Metadatensatz
DublinCore-FeldWertSprache
dc.contributor.authorKoetter, Michaelen
dc.date.accessioned2009-01-28T16:02:55Z-
dc.date.available2009-01-28T16:02:55Z-
dc.date.issued2006-
dc.identifier.urihttp://hdl.handle.net/10419/19755-
dc.description.abstractWe analyze the stability of efficiency rankings of German universal banks between 1993 and 2004. First, we estimate traditional efficiency scores with stochastic cost and alternative profit frontier analysis. Then, we explicitly allow for different risk preferences and measure efficiency with a structural model based on utility maximization. Using the almost ideal demand system, we estimate input and profit demand functions to obtain proxies for expected return and risk. Efficiency is then measured in this risk-return space. Mean risk-return efficiency is somewhat higher than cost and considerably higher than profit efficiency. More importantly, rankorder correlation between these measures are low or even negative. This suggests that best-practice institutes should not be identified on the basis of traditional efficiency measures alone. Apparently, low cost and/or profit efficiency may merely result from alternative yet efficiently chosen risk-return trade-offs.en
dc.language.isoengen
dc.publisher|aDeutsche Bundesbank |cFrankfurt a. M.en
dc.relation.ispartofseries|aDiscussion Paper Series 2 |x2006,08en
dc.subject.jelG33en
dc.subject.jelG21en
dc.subject.jelD21en
dc.subject.jelL21en
dc.subject.ddc330en
dc.subject.keywordRisken
dc.subject.keywordefficiencyen
dc.subject.keywordbanksen
dc.subject.keywordGermanyen
dc.subject.stwUniversalbanken
dc.subject.stwWirtschaftliche Effizienzen
dc.subject.stwTechnische Effizienzen
dc.subject.stwRisikoen
dc.subject.stwRisikopräferenzen
dc.subject.stwSchätzungen
dc.subject.stwDeutschlanden
dc.titleThe stability of efficiency rankings when risk-preferences and objectives are different-
dc.typeWorking Paperen
dc.identifier.ppn519702921en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:bubdp2:5096en

Datei(en):
Datei
Größe
644.3 kB





Publikationen in EconStor sind urheberrechtlich geschützt.