Contents |
Authors:
Hassan Obeid, Ph.D. in Financial Management, Professor of Finance, Head of Finance and Accounting Department, European Business School, Paris, France
Maryna Brychko, Ph.D. in Money, Finance and Credit, Senior Lecturer, Department of Finance, Sumy State University, Ukraine
Pages: 12-29
DOI: 10.21272/fmir.1(2).12-29.2017
Download: |
Views: |
Downloads: |
|
|
|
Abstract
The paper is devoted to development of evaluation of the bank business management efficiency in the system of financial relationships of their stakeholders. Non-achievement the required level of value-added banking business we divided into two groups: 1) associated with irrationality of constructing system of financial relations with their stakeholders; 2) related to the common for homogeneous group of banks problems with adaptation to national con-ditions of conducting banking business. In a sample of 1228 Ukrainian banks, we find that domestic banks are more adapted to the conditions of banking system although in long run foreign banks are more efficient.
Keywords: bank business management efficiency, corporate governance, Ukrainian banking system, DEA analysis.
JEL Classification: G21, G34, G14, C33.
Cite as: Obeid H., Brychko M. (2017). Stakeholder’s financial relations and bank business management efficiency: evidence from Ukraine. Financial Markets, Institutions and Risks, 1(2), 12-29. http://doi.org/10.21272/fmir.1(2).12-29.2017.
References
- Aguilera, R.V., I. Filatotchev, H. Gospel, and G. Jackson (2008). An organizational approach to comparative corporate governance: Costs, contingencies, and complementarities. Organization Science, 19(3), 475-492.
- Aguilera, R.V., and K.A. Desender (2012). Challenges in the measuring of comparative corporate governance: a review of the main indices. Research Methodology in Strategy and Management, 7.
- Bebchuk, L.A., and J.M. Fried (2004). Pay without performance: The unfulfilled promise of executive compensation. Cambridge, MA: Harvard University Press.
- Benson, B. W., Davidson III, W. N., Wang, H. and Worrell, D. L. (2011). Deviations from Expected Stakeholder Management, Firm Value, and Corporate Governance. Financial Management, 40, 39–81.
- Benson, B. W. and Davidson, W. N. (2010). The Relation between Stakeholder Management, Firm Value, and CEO Compensation: A Test of Enlightened Value Maximization. Financial Management, 39, 929–964.
- Berger, A.N., T.H. Hanweck and D.B. Humphrey (1987). Competitive viability in banking: Scale, scope, and product mix economies. Journal of Monetary Economics, 20, 501-520.
- Berger, A.N., and D.B. Humphrey (2000). Efficiency of financial institutions: international survey and directions for future research. Performance of Financial Institutions: Efficiency, Innovation, Regulation, Cambridge, UK.
- Berle, A.A., and G.G.C. Means (1932). The modern corporation and private property, Transaction Books.
- Carvallo, O., and A. Kasman (2005). Cost efficiency in the Latin America and Caribbean banking systems. Journal of International Financial Markets, Institutions and Money, 15, 55-72.
- Charnes, A., W. Cooper, and E. Rhodes (1978). Measuring the Efficiency of Decision Making Units. European Journal of Operational Research, 2, 429–444.
- Colwell, R. J., and E. P. Davis (1992). Output and productivity in banking. Scandinavian Journal of Economics, 94 Supplement, 111-129.
- Dalton, D. R., C. M. Daily, S. Certo, and R. Roengpitya (2003). Meta-analysis of financial performance and equity: fusion or confusion? Academy of Management Journal, 46, 13-26.
- Dietsch, M., and A. V. Lozano (2000). How the environment determines banking efficiency: A comparison between French and Spanish industries. Journal of Banking and Finance, 24, 985–1004.
- Drake, L., M J B Hall, and R. Simper (2006). The impact of macroeconomic and regulatory factors on bank efficiency: a non-parametric analysis of Hong Kong’s banking system. Journal of Banking and Finance, 30 (5), 1443–1466.
- Ertugrul, M. and Hegde, S. (2009). Corporate Governance Ratings and Firm Performance. Financial Management, 38, 139–160.
- Farell, M. (1957). The Measurement of Productive Efficiency. Journal of the Royal Statistical Society, 120 (3), 253–291.
- Favero, C., and L. Papi (1995). Technical Efficiency and Scale Efficiency in the Italian Banking Sector: A Non-parametric Approach. Applied Economics, 27, 385-395.
- Filatotchev, I., S. Toms, and M. Wright (2006). The firm’s strategic dynamics and corporate governance life-cycle. International Journal of Managerial Finance, 2(4), 256–279.
- Gaganis, C., A. Liadaki, M. Doumpos, and C. Zopounidis (2009). Estimating and analyzing the efficiency and productivity of bank branches: Evidence from Greece. Managerial Finance, 35(2), 202–218.
- Grosskopf, S., and V. Valdmanis (1987). Measuring Hospital Performance. A Non-Parametric Approach, Journal of Health Economics, 89-107.
- Howland, M., and J. Rowse (2006). Measuring Bank Branch Efficiency Using Data Envelopment Analysis. Managerial and Implementation Issues, 44(1), 49–63.
- Jensen, M.C. (2000). A Theory of the Firm: Governance, Residual Claims, and Organizational Forms. Cambridge et al.: Harvard University Press, 678.
- Jensen, M.C. (1986). Agency Costs of Free Cash Flow, Corporate Finance and Takeovers. American Economic Review, 76, 323–329.
- Jensen, M.C., and W.H. Meckling (1976). Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, 3, 305.
- Johl, S. K., S. Kaur, and B.J. Cooper (2013). Board characteristics and firm performance: evidence from Malaysian public listed firms. Journal of Economics, Business and Management, 3(2).
- Karas, A., K. Schoors, and L. Weill (2010). Are private banks more efficient than public banks? Economics of Transition, 18, 209–244.
- Kostyuk, A., М. Lin, and G. Omet (2011). “Banking system of Taiwan”, Euroasian perspectives of the banking systems development, Virtus Interpress, 167.
- Lozano, V.A., J.A. Pastor and J.M. Pastor (2002). An efficiency comparison of European banking systems operating under different environmental conditions. Journal of Productivity Analysis, 18, 59-77.
- Månsson, J. (2003). How Can We Use the Result from a DEA Analysis? Identification of Firm-relevant Reference Units. Journal of Applied Economics, 6/1, 157–175.
- Macey, J. (1998). Measuring the Effectiveness of Different Corporate Governance Systems: Toward a More Scientific Approach. Journal of Applied Corporate Finance, 10, 16-25.
- Noulas, A., N. Glaveli, and I. Kiriakopoulos (2008). Investigating cost efficiency in the branch network of a Greek bank: an empirical study. Managerial Finance, 34(3), 160–171.
- Sathye, M. (2001). X-efficiency in Australian banking: An empirical investigation. Journal of Banking and Finance, 25, 613-630.
- Schaeck, K. and Cihák, M. (2014). Competition, Efficiency, and Stability in Banking. Financial Management, 43, 215–241.
- Sherman, H.D., and T.J. Rupert (2006). Do bank mergers have hidden or foregone value? Realized and unrealized operating synergies in one bank merger. European Journal of Operational Research, 168(1), 253–268.
- Williamson, O.E. (1991). Comparative economic organization: The analysis of discrete structural alternatives. Administrative Science Quarterly, 269–296.
|