“…On the one hand, the studies by Berger and Hannan (1998), Delis andTsionas (2009) andTurk Ariss (2010), among others, support the quiet life hypothesis, according to which managers would translate higher inefficiencies into higher prices-as opposed to the efficient structure paradigm, where best practice allows firms to earn market power. On the other hand, papers by Maudos and Fernán-dez de Guevara (2007), Casu and Girardone (2009), Fu and Heffernan (2009), and Koetter et al (2012, among others, reject that hypothesis.…”