Total factor productivity change of Greek cooperative banks

F Pasiouras; E Sifodaskalakis

Total factor productivity change of Greek cooperative banks

F Pasiouras, E Sifodaskalakis

Management

Research output: Working paper / Preprint › Working paper

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Abstract

In this study, we employ the Malmquist index to examine the total factor productivity change in the Greek cooperative banking, using a balanced panel dataset of 78 observations from 13 banks over the period 2000-2005. We estimate two models, one based on the intermediation approach, and one based on the production approach. The results are mixed. The first model indicates a small decrease (3%) in total factor productivity whereas the second model indicates an increase by 6.6%. We also compare the results on the basis of banks’ size and find that TFP growth is higher for smaller banks on average over the entire period of our analysis. However, this relationship between size and productivity is not robust across the years. Furthermore, the differences between the groups are not statistically significant.

Original language	English
Place of Publication	Bath
Publication status	Unpublished - 19 Dec 2007

Bibliographical note

This working paper is produced for discussion purposes only. The papers are expected to be published in due course, in revised form and should not be quoted without the author’s permission. The views and conclusions presented in the paper are exclusively those of the authors and not necessarily reflect the position of EFG-Eurobank Ergasias or any other person associated with EFG-Eurobank Ergasias.

Keywords

Cooperative
Greece
Malmquist
Banks
Productivity

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N2 - In this study, we employ the Malmquist index to examine the total factor productivity change in the Greek cooperative banking, using a balanced panel dataset of 78 observations from 13 banks over the period 2000-2005. We estimate two models, one based on the intermediation approach, and one based on the production approach. The results are mixed. The first model indicates a small decrease (3%) in total factor productivity whereas the second model indicates an increase by 6.6%. We also compare the results on the basis of banks’ size and find that TFP growth is higher for smaller banks on average over the entire period of our analysis. However, this relationship between size and productivity is not robust across the years. Furthermore, the differences between the groups are not statistically significant.

AB - In this study, we employ the Malmquist index to examine the total factor productivity change in the Greek cooperative banking, using a balanced panel dataset of 78 observations from 13 banks over the period 2000-2005. We estimate two models, one based on the intermediation approach, and one based on the production approach. The results are mixed. The first model indicates a small decrease (3%) in total factor productivity whereas the second model indicates an increase by 6.6%. We also compare the results on the basis of banks’ size and find that TFP growth is higher for smaller banks on average over the entire period of our analysis. However, this relationship between size and productivity is not robust across the years. Furthermore, the differences between the groups are not statistically significant.

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KW - Productivity

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M3 - Working paper

BT - Total factor productivity change of Greek cooperative banks

CY - Bath

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Total factor productivity change of Greek cooperative banks

Abstract

Bibliographical note

Keywords

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