FIRM EFFICIENCY AND THE REGULATORY CLOSURE OF SAVINGS-AND-LOANS - AN EMPIRICAL-INVESTIGATION

被引:30
作者
CEBENOYAN, AS [1 ]
COOPERMAN, ES [1 ]
REGISTER, CA [1 ]
机构
[1] MISSISSIPPI STATE UNIV,MISSISSIPPI STATE,MS 39762
关键词
D O I
10.2307/2109472
中图分类号
F [经济];
学科分类号
02 ;
摘要
This paper uses a two-step methodology to examine the relationship between firm inefficiency and the regulatory closure of savings and loans (S&Ls). In the first step, using multiproduct, translog stochastic cost frontiers, we estimate inefficiency scores separately for mutual and stock S & Ls operating in the southwest in 1988. We use the inefficiency scores in second step logit models to identify determinants of regulatory closure. For both mutual and stock S & Ls, we find a significant positive relationship between firm inefficiency and regulatory closure. We also find a greater probability of closure for S & Ls in economically depressed states.
引用
收藏
页码:540 / 545
页数:6
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