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dc.contributor.authorWerner, Karlen
dc.contributor.authorMoormann, Jürgenen
dc.date.accessioned2009-03-18-
dc.date.accessioned2009-09-10T14:00:38Z-
dc.date.available2009-09-10T14:00:38Z-
dc.date.issued2009-
dc.identifier.piurn:nbn:de:101:1-200907213372en
dc.identifier.urihttp://hdl.handle.net/10419/27878-
dc.description.abstractMost previous research on efficiency in banking takes a regulatory perspective. In contrast, this paper investigates the empirical relation between efficiency and profitability in five large economies of the European Union during the period 1998-2005 and discusses the results from the perspective of corporate bank strategy. Methodologically the existing literature is expanded by the use of DEA super-efficiency values to regress profitability, the incorporation of risk by calculative costs of capital, and a model specification built on the modern understanding of banks as centers of value creation. The results of the conducted static and dynamic regression analyses show that profitable banks operate with higher technical efficiency than their competitors. Furthermore, the strategic environment and in this regard the structure and concentration of the national financial sector have a considerable impact on a bank's financial performance. Both issues proved to be statistically and economically significant. Thus, the results support the appropriateness of the generic strategy of cost leadership for the European banking market. Banks following this strategic position were able to achieve higher excess returns during the analyzed period.en
dc.language.isoengen
dc.publisher|aFrankfurt School of Finance & Management |cFrankfurt a. M.en
dc.relation.ispartofseries|aFrankfurt School - Working Paper Series |x111en
dc.subject.jelC14en
dc.subject.jelG21en
dc.subject.jelL25en
dc.subject.jelM21en
dc.subject.ddc330en
dc.subject.keywordBanksen
dc.subject.keywordcorporate strategyen
dc.subject.keywordefficiencyen
dc.subject.keywordoperational efficiencyen
dc.subject.keywordprofitabilityen
dc.subject.stwBanken
dc.subject.stwTechnische Effizienzen
dc.subject.stwRentabilitäten
dc.subject.stwBankmanagementen
dc.subject.stwDeutschlanden
dc.subject.stwSpanienen
dc.subject.stwFrankreichen
dc.subject.stwGroßbritannienen
dc.subject.stwItalienen
dc.titleEfficiency and profitability of European banks: how important is operational efficiency?-
dc.typeWorking Paperen
dc.identifier.ppn593966384en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:fsfmwp:111en

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