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.
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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|Item Type:||Journal Article|
|Keywords:||Cost frontiers, building societies, cost efficiency|
|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 13:26|
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