EconPapers    
Economics at your fingertips  
 

Does the form of ownership affect firm performance? Evidence from US bank profit efficiency before and during the financial crisis

Aigbe Akhigbe, James E. McNulty and Bradley A. Stevenson

The Quarterly Review of Economics and Finance, 2017, vol. 64, issue C, 120-129

Abstract: We examine the effect of the form of ownership on the profit efficiency of bank holding companies (BHCs) before and during the US financial crisis. For the pre-crisis period, the difference in profit efficiency between privately held and publicly traded BHCs is small. For the crisis period there is no statistically significant difference. These unexpected results suggest that agency issues do not affect the relative profit efficiency of private and public BHCs, or more likely, that these are offset by pressures for efficiency from capital markets and managerial labor markets and the advantages of specialization, a very important consideration in commercial banking.

Keywords: G21; D02; Agency theory; Profit efficiency; Stochastic frontier analysis (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S106297691630062X
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:quaeco:v:64:y:2017:i:c:p:120-129

Access Statistics for this article

The Quarterly Review of Economics and Finance is currently edited by R. J. Arnould and J. E. Finnerty

More articles in The Quarterly Review of Economics and Finance from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

 
Page updated 2018-04-21
Handle: RePEc:eee:quaeco:v:64:y:2017:i:c:p:120-129