By Philip Molyneux, Eleuterio Vallelado
In modern-day globalized economic system, banking is of excessive foreign value. This publication brings jointly topical matters in banking similar to reform in China, digital cash and personal loan pricing, and highlights key coverage and examine within the box.
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Additional info for Frontiers of Banks in a Global Economy (Palgrave Macmillan Studies in Banking and Financial Institutions)
Sample text
The three-year time period was used because it is more likely that gains will appear at least one year after the merger and then all gains should be realized within three years. For the pre merger period, ratios for both the acquirers and the targets are examined to get an indication as to the relative performance of the acquirer and the target. In addition, ratios for the control group were examined to provide a basis for comparing performance of the merged institutions to non-merged ones that are similar in term of size, type and location.
This lack of synergies is explained by the following drivers: ● ● Fragmentation of retail markets, related to the difficulties of selling similar products in different domestic markets. g. multiple reporting requirements, divergence of supervisory practices and complex supervisory approval processes. 34 Frontiers of Banks in a Global Economy ● ● Legal impediments to corporate expansion and reorganization, for example, taxation on dividends, VAT and other forms of double taxation, employment legislation and legal structures of the companies.
The DEA approach was initially developed by Charnes, Cooper and Rhodes (1978) who proposed a model that measures technical efficiency scores under constant returns to scale (CRS). The CRS assumption has however a limited scope since it is only appropriate when operating at an optimal scale. Imperfect competition and constraints on finance may cause a Decision Making Unit (DMU) not to be operating at optimal scale. Banker, Charnes and Cooper (1984) described a revised model including variable returns to scale (VRS), thus allowing the computation of pure technical efficiency and scale efficiency.