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    题名: 比較西歐銀行業之成本效率： 新共同邊界Fourier成本函數之應用
    Comparing cost efficiency in Western European banking industries: Using the new metafrontier Fourier flexible cost function
    作者: 李起銓
    Lee, Chi Chuan
    贡献者: 黃台心
    Huang, Tai Hsin
    李起銓
    Lee, Chi Chuan
    关键词: 共同邊界
    成本效率
    技術缺口比率
    環境變數
    Metafrontier
    Cost efficiency
    Technology gap ratio
    Environmental variables
    日期: 2012
    上传时间: 2013-09-02 16:04:43 (UTC+8)
    摘要: 本文採用新的隨機共同邊界方法，將其擴充至Fourier富伸縮成本函數，針對西歐地區十個國家的銀行業進行成本效率之分析，資料期間涵蓋1996年至2010年。不同於Battese et al. (2004), O’Donnell et al. (2008), and Huang et al. (2011a) 等人利用線性規劃法，本文應用隨機共同邊界法來估計技術缺口比率，進而做跨國間的效率比較，此法的特點在於技術缺口比率可以設為一些反映國家環境差異的外生變數之函數，而線性規劃法則無法做此設定。實證結果顯示採用線性規劃方法所估計出的技術缺口比率與共同成本效率會有低估的現象，技術缺口比率以及共同成本效率在1996年至2000年間逐步上升，此結果支持金融市場的整合可以增進效率，然而，到2000年之後則反轉向下，特別是在2007年至2010年次級房貸風暴時期明顯惡化。此外，進一步的分群進行分析的結果顯示，小規模、高獲利、或是較保守的銀行相對來說較具有效率。
    This paper aims to gain further insights into cost efficiency using the newly developed metafrontier approach under the framework of the Fourier flexible cost frontier for banking industries across 10 Western European nations during the period 1996-2010. Unlike Battese et al. (2004), O’Donnell et al. (2008), and Huang et al. (2011a), who suggest using programming techniques, the stochastic metafrontier is formulated and applied to obtain the technology gap ratio (TGR) for efficiency comparisons among countries. One salient feature of our method is that the TGR can be specified as a function of some exogenous variables that reflect group-specific environmental differences, while the mathematical programming is not allowed to do so. Empirical results show that both TGR and metafrontier cost efficiency (MCE) are underestimated by programming techniques. The TGR and MCE exhibit a gradual upward trend during 1996-2000 and then followed by a downward trend, especially after the subprime crisis of 2007-2010. This suggests that a more integrated financial market is able to improve banking efficiency. Smaller banks tend to be more cost efficient than larger ones. Higher profitable banks and more conservative banks are related to greater efficiency.
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