کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7383540 | 1480433 | 2018 | 43 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Competition, efficiency, and innovation in Taiwan's banking industry - An application of copula methods
ترجمه فارسی عنوان
رقابت، بهره وری و نوآوری در صنعت بانکی تایوان - کاربرد روشهای کپی
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
چکیده انگلیسی
This paper proposes a simultaneous stochastic frontier model that consists of a cost frontier and an output price frontier that relates a firm's output price (P) to its marginal cost (MC). The gap between P and MC reflects a firm's degree of market power, and the Lerner index (LI) is equal to the ratio of the gap to P. The salient feature of our model permits LI to be internally determined by the simultaneous equations model, which avoids obtaining negative estimates of the index. The joint probability density function of the composed errors can be derived in the context of copula methods. Our model is applied to study the competitive conditions of Taiwan's banking industry. Findings show that: (1) the quiet life hypothesis is rejected; (2) the relationship between financial innovation, measured by the technology gap ratio of Huang et al. (2014), and our LI is U-shaped, which is robust over different specifications; and (3) the nexus between innovation and competition is inverted-U shape and consistent with Aghion et al. (2005) and Bos et al. (2013).
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: The Quarterly Review of Economics and Finance - Volume 67, February 2018, Pages 362-375
Journal: The Quarterly Review of Economics and Finance - Volume 67, February 2018, Pages 362-375
نویسندگان
Tai-Hsin Huang, Chu-Nan Hu, Bao-Guang Chang,