Profit efficiency and earnings quality: Evidence from the Spanish banking industry
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Otros documentos de la autoría: Prior, Diego; Tortosa-Ausina, Emili; García-Alcober, Mª Pilar; Illueca, Manuel
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https://doi.org/10.1007/s11123-019-00553-w |
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Título
Profit efficiency and earnings quality: Evidence from the Spanish banking industryFecha de publicación
2019-05Editor
SpringerCita bibliográfica
PRIOR, Diego, et al. Profit efficiency and earnings quality: Evidence from the Spanish banking industry. Journal of Productivity Analysis, 2019, 51:153-174.Tipo de documento
info:eu-repo/semantics/articleVersión de la editorial
https://link.springer.com/article/10.1007/s11123-019-00553-wVersión
info:eu-repo/semantics/publishedVersionPalabras clave / Materias
Resumen
The analysis of efficiency and productivity in banking has received a great deal of attention for almost three decades now.However, most of the existing literature to date has not explicitly accounted for risk when ... [+]
The analysis of efficiency and productivity in banking has received a great deal of attention for almost three decades now.However, most of the existing literature to date has not explicitly accounted for risk when measuring efficiency. We proposean analysis of profitefficiency taking into account how the inclusion of a variety of bank risk measures might bias efficiencyscores. Our measures of risk are partly inspired by the literature on earnings management and earnings quality, consideringthat loan loss provisions, as a generally accepted proxy for risk, can be adjusted to manage earnings and regulatory capital.We also consider some variants of traditional models of profitefficiency where different regimes are stipulated so thatfinancial institutions can be evaluated in different dimensions—i.e. prices, quantities, or prices and quantitiessimultaneously. We perform this analysis on the Spanish banking industry, whose institutions are deeply affected by thecurrent internationalfinancial crisis, and where re-regulation is taking place. Our results can be explored in multipledimensions but, in general, they indicate that the impact of earnings management on profitefficiency is of less magnitudethan what might, a priori, be expected, and that the performance of savings banks has been generally worse than that ofcommercial banks. However, savings banks are adapting to the new regulatory scenario and rapidly catching up withcommercial banks, especially in some dimensions of performance. [-]
Proyecto de investigación
Ministerio de Economía y Competitividad, Spain (ECO2017-85746-P and ECO2017-88241) ; Generalitat Valenciana (PRO-METEO/2018/102) ; Universitat Jaume I (UJI-B2017-33)Derechos de acceso
© 2019 Springer Nature Switzerland AG. Part of Springer Nature.
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http://rightsstatements.org/vocab/InC/1.0/
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