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Endogenous network efficiency, macroeconomy, and competition: Evidence from the Portuguese banking industry

机译：内源性网络效率，宏观经济和竞争：来自葡萄牙银行业的证据

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摘要

Although performance analysis has become a vital part of the banking industry, research on the efficiency of Portuguese banking remains scarce and focused on discussing rankings to the detriment of unveiling its productive structure relative to its competition. This issue is of utmost importance considering the relevant transformations in the Portuguese economy over the last ten years. In this study, we developed a network productive structure comprising two paradigms (the production and intermediation approaches, respectively) to assess how market competition and other macro-economic variables impact bank efficiency and their feedback effects in Portugal. Unlike previous research, an integrated multi-layer perceptron (MLP)/hidden Markov model (HMM) was used for the first time to unveil endogeneity among banking competition, macro-economic variables, and the efficiency levels of the production and intermediation approaches in banking. The findings illustrate the pattern of interaction among these variables and verify that the production efficiency is the cornerstone of endogeneity in Portuguese banks. Policy makers will find the results helpful.
机译：虽然绩效分析已成为银行业的重要组成部分，但葡萄牙银行业务效率的研究仍然稀缺，并专注于讨论相对于竞争揭示其生产性结构的排名。考虑到过去十年葡萄牙经济的相关转型至关重要，这一问题至关重要。在这项研究中，我们开发了一种网络生产结构，包括两个范式（分别的生产和中介方法），以评估市场竞争和其他宏观经济变量如何影响银行效率及其在葡萄牙的反馈效果。与以前的研究不同，第一次使用集成的多层Perceptron（MLP）/隐藏的马尔可夫模型（HMM），以推出银行竞争，宏观经济变量以及银行业务中介方法的效率水平的内核性。研究结果说明了这些变量之间的相互作用模式，并验证了生产效率是葡萄牙群中的内生成的基石。政策制定者会发现结果有用。

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  • 来源
    《The North American journal of economics and finance》 |2020年第4期|101114.1-101114.20|共20页
  • 作者

    Alves Andre Bernardo; Wanke Peter; Antunes Jorge; Chen Zhongfei;

  • 作者单位

    Univ Evora Largo Colegiais 2 P-7000 Evora Portugal;

    Univ Fed Rio de Janeiro COPPEAD Grad Business Sch Rua Paschoal Lemme 355 BR-21949900 Rio De Janeiro Brazil;

    Univ Fed Rio de Janeiro COPPEAD Grad Business Sch Rua Paschoal Lemme 355 BR-21949900 Rio De Janeiro Brazil;

    Jinan Univ Sch Econ 601 Huangpu West Rd Guangzhou Guangdong Peoples R China|Jinan Univ Inst Resource Environm & Sustainable Dev Res Guangzhou 510632 Guangdong Peoples R China;

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  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

    Banking; Portugal; Competition; GMSS DEA; MLP; HMM;

    机译：银行业;葡萄牙;竞争;GMSS DEA;MLP;嗯;

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