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Article
Publication date: 1 January 1997

William C. Hunter and Stephen G. Timme

This paper provides novel empirical evidence on the impact of bank internal organization structure characteristics on costs and productive efficiency. The specific internal…

189

Abstract

This paper provides novel empirical evidence on the impact of bank internal organization structure characteristics on costs and productive efficiency. The specific internal organization characteristics examined include centralized versus decentralized 1) decision‐making, 2) service delivery systems, and 3) back‐office operations, e.g. accounting, computing, and advertising, among others. The analysis is conducted using average data drawn from a sample of 118 large US commercial banks for the years 1989 and 1990. The analysis reveals that centralized decision‐making tends to increase costs. Likewise, centralized service delivery systems either increase or have an insignificant impact on costs. In no case was it found that centralized service delivery systems reduce costs as is often envisioned by proponents of centralization. Centralized back‐office operations were found to reduce costs significantly and is consistent with the existence of scale economies in bank back‐office operations.

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Managerial Finance, vol. 23 no. 1
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 November 1997

Jonathan Hao and William C. Hunter

The objective of this paper is to examine the empirical link between banking and financial system structure and economic growth, by constructing a cross‐country regression model…

487

Abstract

The objective of this paper is to examine the empirical link between banking and financial system structure and economic growth, by constructing a cross‐country regression model using data over the 1970–1988 period, for a diverse set of countries. We extend the existing literature by explicitly examining the impact of measures of a country's financial deepness, in terms of second stage financial innovations, on a country's rate of economic growth. The cross‐country econometric results suggest that financial development (e.g., as measured by the presence of an organized financial futures market—a second stage innovation) is positively correlated with enhanced economic growth. Sensitivity analysis of the model indicates that the empirical findings are invariant to the inclusion of other variables often cited as determinants of economic growth.

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Managerial Finance, vol. 23 no. 11
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 13 April 2015

William Lepley, Robert Nagy and Mussie Teclezion

– The purpose of this paper is to contribute to the literature on minority-owned commercial banks in the USA.

369

Abstract

Purpose

The purpose of this paper is to contribute to the literature on minority-owned commercial banks in the USA.

Design/methodology/approach

The authors examine performance differences between African-American (AA) commercial banks and other minority (OM)-owned banks. Also, the authors compare AA bank performance with that of their peer-group banking institutions.

Findings

Employing data both before and after the recessionary period of 2008-2009, the authors find significant performance differences between minority ownership categories. For example, prior to 2008, AA banks held a significant advantage over OM-owned banks in net interest income as a percentage of average assets. This competitive advantage was somewhat offset by relatively weak loan portfolios and failure to contain costs. The 2008 crisis served to exacerbate the negatives of African-American banks while their positive differences essentially disappeared.

Originality/value

The focus is different than the previous studies on minority-owned banks. The authors are especially interested in how AA banks have fared – relative to banking industry peer institutions, but also, relative to OM-owned banks.

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Managerial Finance, vol. 41 no. 4
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 November 1997

Aigbe Akhigbe, Jeff Madura and Huldah Ryan

Much attention has recently been directed toward the relationship between the performance of firms and compensation received by their respective CEOs. We assess this relationship…

803

Abstract

Much attention has recently been directed toward the relationship between the performance of firms and compensation received by their respective CEOs. We assess this relationship for commercial banks, as regulatory and other industry‐specific conditions can cause the performance‐compensation linkage in the banking industry to differ from that of industrial firms. We find that the accumulated human capital of CEOs and the bank size are positively related to the total compensation (including salary, bonus, and stock options) levels of bank CEOs. We also find a positive significant relationship between bank accounting performance proxies and CEO compensation level for all time horizons. Finally, we find a positive significant relationship between market‐based performance proxy and bank compensation.

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Managerial Finance, vol. 23 no. 11
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 September 2003

C. Pat Obi and Augustine Emenogu

This study provides evidence regarding the performance of bank holding companies (BHC) following a series of deregulatory measures by the United States Congress. To compare…

655

Abstract

This study provides evidence regarding the performance of bank holding companies (BHC) following a series of deregulatory measures by the United States Congress. To compare performance of commercial banks before and after expanding their operations to nonbank functions, a set of hypotheses addressing BHC risk and return characteristics are proposed. Empirical results are mixed. Total risk dropped after expansion. Market risk, on the other hand, rose substantially in post‐expansion time. When returns are adjusted for risk, a marginal improvement in performance is achieved.

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Managerial Finance, vol. 29 no. 8
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 September 2004

Linbo Fan and Sherrill Shaffer

This paper studies the profit efficiency of a sample of large U.S. commercial banks and explores how this performance varies with selected measures of bank risk reflecting aspects…

1656

Abstract

This paper studies the profit efficiency of a sample of large U.S. commercial banks and explores how this performance varies with selected measures of bank risk reflecting aspects of credit risk, liquidity risk, and insolvency risk. We use a standard profit function and the stochastic frontier approach, and compare two standard functional forms – Cobb‐Douglas and translog – to assess the tradeoff between precision and parsimony. We find that profit efficiency is sensitive to credit risk and insolvency risk but not to liquidity risk or to the mix of loan products.

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Managerial Finance, vol. 30 no. 9
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 February 2001

James Fisher, Ellen Harshman, William Gillespie, Henry Ordower, Leland Ware and Frederick Yeager

In late 1999, Congress enacted financial modernisation legislation that dramatically deregulated the financial services industry and expanded the powers of financial institutions…

173

Abstract

In late 1999, Congress enacted financial modernisation legislation that dramatically deregulated the financial services industry and expanded the powers of financial institutions in the USA. In keeping with this deregulation and expanded powers, the regulatory landscape and enforcement mechanisms also changed. While many applaud this legislation, others point to previous US experience where financial deregulation overwhelmed federal regulators and resulted in massive failures of financial institutions and, consequently, in huge federal bailouts. The authors examine here the prospect of supplementing regulation with certain forms of private intervention. Specifically, they address the question: is there a role for whistleblowing and bounty hunting as means of supplementing existing regulation in the financial services industry?

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Journal of Financial Crime, vol. 8 no. 4
Type: Research Article
ISSN: 1359-0790

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Article
Publication date: 1 April 1946

W.R. LE FANU

The only comprehensive list of British medical libraries hitherto available has been that in The Aslib directory 1928, and there is an extended account of those in London in…

66

Abstract

The only comprehensive list of British medical libraries hitherto available has been that in The Aslib directory 1928, and there is an extended account of those in London in Reginald Rye, The students' guide to the libraries of London (3rd ed., 1927), pp. 362–77. The new list, here put forward, is intended to bring the information from those two books of reference up to date, after nearly twenty years. British libraries are briefly listed among ‘Medical libraries outside North America’ in the Medical Library Association's A handbook of medical library practice, ed. Janet Doe, Chicago, American library association 1943, chapter 1, appendix 2, pages 41–64. The meagre information in that list, if contrasted with the detailed documentation of American and Canadian libraries in successive issues of the American medical directory, accentuates the need for us to know ourselves better. Several, perhaps many, medical librarians have had to compile lists of kindred libraries for their own convenience. A list which I had thus prepared seemed to Aslib to offer adequate basis for a Directory of British medical libraries, and in order to complete it Aslib issued a questionnaire in the autumn of 1944 to libraries known to possess medical collections and to hospitals, medical societies, and medical institutions throughout the British Isles. The information obtained from the generous response to this questionnaire is epitomized in the list which follows. I am responsible for all omissions and errors and I hope that those who detect any will supply corrections and additions so that this preliminary list may be revised and become a definitive Directory.

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Journal of Documentation, vol. 2 no. 3
Type: Research Article
ISSN: 0022-0418

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Article
Publication date: 7 October 2014

Richard B. Lee

The question of violence in hunter-gatherer society has animated philosophical debates since at least the seventeenth century. Steven Pinker has sought to affirm that…

260

Abstract

Purpose

The question of violence in hunter-gatherer society has animated philosophical debates since at least the seventeenth century. Steven Pinker has sought to affirm that civilization, is superior to the state of humanity during its long history of hunting and gathering. The purpose of this paper is to draw upon a series of recent studies that assert a baseline of primordial violence by hunters and gatherers. In challenging this position the author draws on four decades of ethnographic and historical research on hunting and gathering peoples.

Design/methodology/approach

At the empirical heart of this question is the evidence pro- and con- for high rates of violent death in pre-farming human populations. The author evaluates the ethnographic and historical evidence for warfare in recorded hunting and gathering societies, and the archaeological evidence for warfare in pre-history prior to the advent of agriculture.

Findings

The view of Steven Pinker and others of high rates of lethal violence in hunters and gatherers is not sustained. In contrast to early farmers, their foraging precursors lived more lightly on the land and had other ways of resolving conflict. With little or no fixed property they could easily disperse to diffuse conflict. The evidence points to markedly lower levels of violence for foragers compared to post-Neolithic societies.

Research limitations/implications

This conclusion raises serious caveats about the grand evolutionary theory asserted by Steven Pinker, Richard Wrangham and others. Instead of being “killer apes” in the Pleistocene and Holocene, the evidence indicates that early humans lived as relatively peaceful hunter-gathers for some 7,000 generations, from the emergence of Homo sapiens up until the invention of agriculture. Therefore there is a major gap between the purported violence of the chimp-like ancestors and the documented violence of post-Neolithic humanity.

Originality/value

This is a critical analysis of published claims by authors who contend that ancient and recent hunter-gatherers typically committed high levels of violent acts. It reveals a number of serious flaws in their arguments and use of data.

Details

Journal of Aggression, Conflict and Peace Research, vol. 6 no. 4
Type: Research Article
ISSN: 1759-6599

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Article
Publication date: 1 June 1994

P.R. Masani

Presents the scientific methodology from the enlarged cybernetical perspective that recognizes the anisotropy of time, the probabilistic character of natural laws, and the entry…

820

Abstract

Presents the scientific methodology from the enlarged cybernetical perspective that recognizes the anisotropy of time, the probabilistic character of natural laws, and the entry that the incomplete determinism in Nature opens to the occurrence of innovation, growth, organization, teleology communication, control, contest and freedom. The new tier to the methodological edifice that cybernetics provides stands on the earlier tiers, which go back to the Ionians (c. 500 BC). However, the new insights reveal flaws in the earlier tiers, and their removal strengthens the entire edifice. The new concepts of teleological activity and contest allow the clear demarcation of the military sciences as those whose subject matter is teleological activity involving contest. The paramount question “what ought to be done”, outside the empirical realm, is embraced by the scientific methodology. It also embraces the cognitive sciences that ask how the human mind is able to discover, and how the sequence of discoveries might converge to a true description of reality.

Details

Kybernetes, vol. 23 no. 4
Type: Research Article
ISSN: 0368-492X

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