By P. Molyneux
This article includes a variety of papers that provide cutting-edge insights into bank functionality, possibility and enterprise financing put up predicament that have been offered on the ecu organization of college lecturers of Banking and Finance convention (otherwise often called the Wolpertinger convention) held at Bangor collage, Wales, 2010.
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Additional info for Bank Performance, Risk and Firm Financing
Efficiency in management is also a determinant of market power that has been analysed in other studies. Some test the influence of market power on efficiency, in order to test the so-called quiet life hypothesis. But in our case the direction of causality is just the opposite, as Bank Size, Market Power and Financial Stability 15 we want to analyse whether efficiency in management ends up being passed on to the client in the form of lower margins or whether the bank takes advantage of that efficiency to raise its profitability.
Though it could initially be thought that the effect of size has already been captured by introducing total assets, there may exist an additional influence of a bank’s market share in its national market. The thesis to be tested is whether size per se is what confers market power on a bank or whether, on the contrary, it is the market share that determines greater power. It is possible for a bank to be small in the international context but to have a high market share in its national market, so it is of interest to test which indicator of size (absolute or relative) is relevant for explaining market power.
The elasticities of the rest of the variables are notably lower. In order to analyse in greater detail the importance of each of the explanatory variables, it is necessary to take into account the sample range of variation of each one of them. With this objective, we calculated what the variation of the Lerner index would be if it were calculated starting from an observation situated at the value of the 25th percentile of each of the independent variables and increasing up to the value defined by the 75th percentile.