Browsing by Subject "M19"

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  • Kauko, Karlo (2007)
    Bank of Finland Research Discussion Papers 11/2007
    Published in Journal of Banking & Finance, Volume 33, Issue 3, March 2009, Pages 546-556
    This paper presents evidence on the impact of managers on cost efficiency in banking. Stochastic frontier analysis is applied to a unique Finnish data set. The paper finds that manager age and education have strong yet complicated effects. University education enhances efficiency if the manager is running a large bank. Managing director changes are systematically followed by efficiency changes. Manager retirement typically causes an efficiency improvement, whereas other manager changes can either improve or weaken efficiency. Keywords: efficiency, banking, managers JEL classification numbers: G21, L25, M19