Cost Efficiency and Product Mix Clusters across the Spanish Banking Industry

Cost Efficiency and Product Mix Clusters across the Spanish Banking Industry The competitive conditions under which Spanish bankingfirms operate have become much tighter. In these circumstances,inefficiencies should disappear, and if this does not occur,appropriate explanations should be explored. This paper doesexactly that, by estimating cost efficiency scores and assessingwhether they are biased by productive specialization. Thesequestions are not new, unlike the technique employed, whichenables us to evaluate firms' efficiencies by comparing them onlywith those focusing on similar specializations, without the needto specify separate frontiers for different output mixes. Resultsshow that firms' efficiency scores might be downward or upwardbiased when compared with all other firms in the industry, insteadof only with those focusing on similar activities. Review of Industrial Organization Springer Journals

Cost Efficiency and Product Mix Clusters across the Spanish Banking Industry

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Kluwer Academic Publishers
Copyright © 2002 by Kluwer Academic Publishers
Economics; Industrial Organization; Microeconomics
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