Competition in banking: A disequilibrium approach Export

@article{citeulike:5342214, abstract = {The Rosse–Panzar revenue test for competitive conditions in banking is based on observation of the impact on bank revenue of variation in factor input prices. We identify the implications for the H-statistic of misspecification bias in the revenue equation, arising when adjustment towards market equilibrium is partial and not instantaneous. In simulations, fixed effects estimation produces a measured H-statistic that is severely biased towards zero. Empirical results for the banking sectors of the Group of Seven (G7) countries corroborate our principal finding, that a dynamic formulation of the revenue equation is required for accurate identification of the H-statistic.}, author = {Goddard, John and Wilson, John O. S.}, citeulike-article-id = {5342214}, citeulike-linkout-0 = {http://dx.doi.org/10.1016/j.jbankfin.2009.06.003}, citeulike-linkout-1 = {http://linkinghub.elsevier.com/retrieve/pii/S0378426609001356}, day = {10}, doi = {10.1016/j.jbankfin.2009.06.003}, issn = {03784266}, journal = {Journal of Banking \& Finance}, keywords = {banking, competition}, month = {June}, posted-at = {2009-10-03 02:12:37}, priority = {2}, title = {Competition in banking: A disequilibrium approach}, url = {http://dx.doi.org/10.1016/j.jbankfin.2009.06.003}, year = {2009} }

TY - JOUR ID - citeulike:5342214 L3 - citeulike-article-id:5342214 N2 - The Rosse–Panzar revenue test for competitive conditions in banking is based on observation of the impact on bank revenue of variation in factor input prices. We identify the implications for the H-statistic of misspecification bias in the revenue equation, arising when adjustment towards market equilibrium is partial and not instantaneous. In simulations, fixed effects estimation produces a measured H-statistic that is severely biased towards zero. Empirical results for the banking sectors of the Group of Seven (G7) countries corroborate our principal finding, that a dynamic formulation of the revenue equation is required for accurate identification of the H-statistic. JF - Journal of Banking & Finance SN - 03784266 TI - Competition in banking: A disequilibrium approach KW - banking KW - competition AU - Goddard, John AU - Wilson, John PY - 2009/06/10/ UR - http://dx.doi.org/10.1016/j.jbankfin.2009.06.003 ER -