کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
1032965 943274 2010 6 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Efficiency and stock performance of EU banks: Is there a relationship?
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری استراتژی و مدیریت استراتژیک
پیش نمایش صفحه اول مقاله
Efficiency and stock performance of EU banks: Is there a relationship?
چکیده انگلیسی

The purpose of this paper is to examine whether the stock performance of EU listed banks is related to their efficiency. Our sample consists of 171 banks operating in 15 EU markets over the period 2002–2006. First, we use stochastic frontier analysis to estimate the cost and profit efficiency of banks, while controlling for environmental factors. Then, we investigate if changes in profit and cost efficiency are reflected in changes in stock prices. Our results indicate that the change in profit efficiency has a positive and significant impact on stocks prices; however, there is no relationship between changes in cost efficiency and stock returns.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Omega - Volume 38, Issue 5, October 2010, Pages 254–259
نویسندگان
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