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Efficiency in Australian building societies: An econometric cost function approach using panel data

Worthington, Andrew C. (1998) Efficiency in Australian building societies: An econometric cost function approach using panel data. Applied Financial Economics, 8(5), pp. 459-467.

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Abstract

Maximum-likelihood estimates of a stochastic cost frontier function incorporating efficiency effects are obtained for twenty-two Australian building societies in the period 1992-1995. Cost inefficiency scores indicate that building societies’ costs were twenty percent above what could be considered necessary. The results also indicate that capital adequacy restrictions are not a significant influence on the level of inefficiency; though branch and agency networks, asset size, and non-core commercial activities are. At the industry level that there has been an improvement in the level of cost efficiency of Australian building societies during the period in question.

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9 citations in Scopus
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ID Code: 2709
Item Type: Journal Article
Additional Information: a.worthington@qut.edu.au
Keywords: Cost frontiers, building societies, cost efficiency
DOI: 10.1080/096031098332754
ISSN: 1466-4305
Subjects: Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > APPLIED ECONOMICS (140200) > Financial Economics (140207)
Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > ECONOMETRICS (140300) > Econometrics not elsewhere classified (140399)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BANKING FINANCE AND INVESTMENT (150200) > Financial Institutions (incl. Banking) (150203)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Copyright Owner: Copyright 1998 Taylor & Francis
Copyright Statement: First published in Applied Financial Economics 8(5):pp. 459-467.
Deposited On: 25 Nov 2005
Last Modified: 05 Jan 2011 23:26

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