“…Our findings are in line with many studies (e.g., Chu and Lim 1998 for Singapore banks;Papadopoulos 2004 for the European banking industry; Pasiouras 2008 in Greece) which concluded that the larger the total assets, the higher the efficiency. However, some studies did not find any efficiency advantage related to large banks Berger and Mester 1997) or reported a negative relationship between efficiency and size (Allen and Rai 1996;Christopoulos et al 2002).…”
Section: Potential Determinants Of Cost and Profit Efficiencymentioning
“…Our findings are in line with many studies (e.g., Chu and Lim 1998 for Singapore banks;Papadopoulos 2004 for the European banking industry; Pasiouras 2008 in Greece) which concluded that the larger the total assets, the higher the efficiency. However, some studies did not find any efficiency advantage related to large banks Berger and Mester 1997) or reported a negative relationship between efficiency and size (Allen and Rai 1996;Christopoulos et al 2002).…”
Section: Potential Determinants Of Cost and Profit Efficiencymentioning
“…There was a complex system of credit rules within a context of administrative fixed interest rates (Hondroyannis et al, 1999). Attica, Cretabank, Macedonia-Trace, Central Greece, Ionian), while several others were merged (for more details see Christopoulos et al, 2002). Specifically, the important directives on the Greek banking system is the law 1266/1982 which enhanced the role of the Central Bank of Greece in conducting monetary policy and the Second European Banking Directive (1992) which commits credit institutions to make specific provisions.…”
Section: Greek Bank System Structure -Ser Statues -Sample Selectionmentioning
“…In addition, Alvarez, Arias, and Greene (2004) claim that inefficiency could vary even under constant management efficiency. applications of random slope coefficient models, especially in combination with stochastic frontier models (see Christopoulos, Lolos, and Tsionas 2002;Greene 2004;Wang 2002 for early applications), and to the best knowledge of the author, none has yet been applied in electricity distribution. The random coefficient specifications should therefore be particularly relevant to contrast against the traditional fixed coefficient specifications.…”
The lack of consensus on how utility cost is affected by variation in ownership and regulatory regime has been attributed to sector-specific conditions and interacting observed heterogeneous factors. This study investigates a further source of ambiguous outcomes as it evaluates different econometric specifications related to variations in utility objective/the design of regulatory regime and influences from unknown/uncertain heterogeneous factors. Consistent with theoretical predictions, 7 years of data from the Swedish electricity distribution sector reveal that private ownership and stronger financial incentives are associated with lower costs. It is also demonstrated that inappropriate model specifications can produce arbitrary conclusions. (JEL D24, K23, L51, L94)
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