1,721,072 research outputs found
Bank Risk and Competition:The Other Side of the Story
No full textWe analyze the “other side” of the competition–risk nexus in a setting of endogenous bank risk by expressing the Lerner index as a function of risk-related parameters and other determinants. Our main result is that banks’ ability to raise prices above the competitive level depends, among other things, on the extent to which lenders respond to an increase in the loan rate by taking more risk. This finding illustrates that differences in Lerner indices may arise as a result of differences in risk-taking behavior
The Panzar-Rosse Revenue Test and Market Power in Banking:An Empirical Illustration
No full textAlthough the theoretical literature has shown that the Panzar–Rosse H-statistic fails as a measure of market power, it is still a widely used statistic in empirical banking studies. Such studies still rely on the erroneous belief that H > 0 is inconsistent with significant market power. This chapter provides empirical evidence against the latter belief by analyzing a US banking duopoly. We find “competitive” estimates of H but, consistent with a priori expectations, non-competitive outcomes according to an alternate measure of competition, the Lerner index. Moreover, our bank-specific estimates of H are mutually inconsistent, suggesting additional problems with the Panzar–Rosse test
Introduction
No full textThe goal of this Handbook of Competition in Banking and Finance is to provide a collection of state-of-the-art chapters on (1) the properties of the various approaches to measure financial-sector competition, (2) the level of actual financial-sector competition across countries, sectors and submarkets, and (3) the spill-overs of financial-sector competition to other sectors. The Handbook’s target audience consists of academic researchers, graduate students, policymakers, and solvency and anti-trust supervisors. We have been invited by Edward Elgar to act as the editors of this Handbook. We were very keen to accept this invitation, because of our own past and more recent research experience. That is, during the past decade we have noticed a strong need among academic researchers and policymakers to capture the degree of financial-sector competition by means of a single statistic. Yet it is a very challenging task to map the complex and multi-dimensional concept of market power into a single measure. Furthermore, if such a one-dimensional statistic is flawed, this will affect any subsequent analysis based on the statistic. This may lead to incorrect policy recommendations and could seriously harm the welfare of consumers and firms. It is therefore crucial to measure financial-sector competition by means of reliable, well-established methods. This is, however, easier said than done
Going Beyond Counting First Authors in Author Co-citation Analysis
No full textThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
No full text“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Competition, concentration and critical mass: why the Herfindahl–Hirschman Index is a biased competition measure
No full textAppropriate Similarity Measures for Author Cocitation Analysis
No full textWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
- …
