Bank reforms and efficiency in Vietnamese banks: evidence based on SFA and DEA
This study examines the cost efficiency of Vietnamese banks from 2000 to 2014 in the first stage, and the selection and dynamic effects of two governance reforms, foreign partial acquisition and listing on the stock exchange, on the efficiency in the second stage. Empirical results from the two-stag...
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| Định dạng: | Journal Article |
| Ngôn ngữ: | English |
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| Truy cập trực tuyến: | http://digital.lib.ueh.edu.vn/handle/UEH/56224 http://dx.doi.org/10.1080/00036846.2015.1130788 |
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oai:localhost:UEH-562242020-01-03T07:45:28Z Bank reforms and efficiency in Vietnamese banks: evidence based on SFA and DEA Thanh Pham Thien Nguyen Son Hong Nghiem Eduardo Roca Parmendra Sharma Bank efficiency Reforms Listing Foreign partial acquisition Ownership Vietnam This study examines the cost efficiency of Vietnamese banks from 2000 to 2014 in the first stage, and the selection and dynamic effects of two governance reforms, foreign partial acquisition and listing on the stock exchange, on the efficiency in the second stage. Empirical results from the two-stage Stochastic Frontier Analysis (SFA) are highly consistent with those from the two-stage Data Envelopment Analysis (DEA) . Specifically, the first-stage efficiency estimation indicates that the cost efficiency shows a slightly upward trend over the period 2000–2014, with the cost efficiency score being 0.93 and state-owned banks outperforming joint-stock banks (JSBs). The mixed process seemingly unrelated regression estimator which controls the potential endogeneity of public listing and foreign acquisition in the second stage shows that selection effects occur in the Vietnamese banking system: banks selected by the strategic foreign investors for partial acquisition and banks selected for public listing are more cost-efficient than those not selected. The short-term and long-term dynamic effects of foreign partial acquisition are documented: the cost efficiency of the Vietnamese banks post-partial acquisition is lower than prior-partial acquisition, and it experiences a decreasing trend since partial acquisition. However, the short-term and long-term dynamic effects of public listing are not evidenced: the cost efficiency of the banks after public listing is not statistically different from that before public listing, and it also reveals an unclear trend since public listing. 2017-11-03T10:13:43Z 2017-11-03T10:13:43Z 2016 Journal Article 0003-6846 (Print), 1466-4283 (Online) http://digital.lib.ueh.edu.vn/handle/UEH/56224 http://dx.doi.org/10.1080/00036846.2015.1130788 en Applied Economics Vol. 48, Issue 30 none Portable Document Format (PDF) 2822 2835 Routledge |
| institution |
Đại học Kinh tế Thành phố Hồ Chí Minh |
| collection |
DSpaceUEH |
| language |
English |
| topic |
Bank efficiency Reforms Listing Foreign partial acquisition Ownership Vietnam |
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Bank efficiency Reforms Listing Foreign partial acquisition Ownership Vietnam Thanh Pham Thien Nguyen Bank reforms and efficiency in Vietnamese banks: evidence based on SFA and DEA |
| description |
This study examines the cost efficiency of Vietnamese banks from 2000 to 2014 in the first stage, and the selection and dynamic effects of two governance reforms, foreign partial acquisition and listing on the stock exchange, on the efficiency in the second stage. Empirical results from the two-stage Stochastic Frontier Analysis (SFA) are highly consistent with those from the two-stage Data Envelopment Analysis (DEA) . Specifically, the first-stage efficiency estimation indicates that the cost efficiency shows a slightly upward trend over the period 2000–2014, with the cost efficiency score being 0.93 and state-owned banks outperforming joint-stock banks (JSBs). The mixed process seemingly unrelated regression estimator which controls the potential endogeneity of public listing and foreign acquisition in the second stage shows that selection effects occur in the Vietnamese banking system: banks selected by the strategic foreign investors for partial acquisition and banks selected for public listing are more cost-efficient than those not selected. The short-term and long-term dynamic effects of foreign partial acquisition are documented: the cost efficiency of the Vietnamese banks post-partial acquisition is lower than prior-partial acquisition, and it experiences a decreasing trend since partial acquisition. However, the short-term and long-term dynamic effects of public listing are not evidenced: the cost efficiency of the banks after public listing is not statistically different from that before public listing, and it also reveals an unclear trend since public listing. |
| author2 |
Son Hong Nghiem |
| author_facet |
Son Hong Nghiem Thanh Pham Thien Nguyen |
| format |
Journal Article |
| author |
Thanh Pham Thien Nguyen |
| author_sort |
Thanh Pham Thien Nguyen |
| title |
Bank reforms and efficiency in Vietnamese banks: evidence based on SFA and DEA |
| title_short |
Bank reforms and efficiency in Vietnamese banks: evidence based on SFA and DEA |
| title_full |
Bank reforms and efficiency in Vietnamese banks: evidence based on SFA and DEA |
| title_fullStr |
Bank reforms and efficiency in Vietnamese banks: evidence based on SFA and DEA |
| title_full_unstemmed |
Bank reforms and efficiency in Vietnamese banks: evidence based on SFA and DEA |
| title_sort |
bank reforms and efficiency in vietnamese banks: evidence based on sfa and dea |
| publisher |
Routledge |
| publishDate |
2017 |
| url |
http://digital.lib.ueh.edu.vn/handle/UEH/56224 http://dx.doi.org/10.1080/00036846.2015.1130788 |
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AT thanhphamthiennguyen bankreformsandefficiencyinvietnamesebanksevidencebasedonsfaanddea |
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