A Multiproduct Cost Study of Savings and Loans
A Multiproduct Cost Study of Savings and Loans
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DOI：
10.1111/j.1540-6261.1987.tb02575.x
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发表时间：
1987-06
影响因子：
8
通讯作者：
Loretta J. Mester
中科院分区：
文献类型：
--
作者：
Loretta J. Mester
本文研究了储蓄和贷款的成本结构。大多数对金融机构的研究都没有考虑到它们的多产品性质。使用多产品方法，次加性，多产品的全球和产品特定的规模和范围经济，以及投入之间的替代性的存在进行了研究。一个跨对数成本函数估计使用1982年的数据加州储蓄和贷款。限制性的功能形式也估计被拒绝。估计了计算的统计量的标准误差，并进行了各种统计检验。以前的作者没有计算这些统计数据的标准误。在工业中没有发现次可加性的证据。版权所有1987年由美国金融协会。
This paper investigates the cost structure of savings and loans. Most studies of financial institutions failed to take into account their multiproduct nature. Using the multiproduct approach, the existence of subadditivity, multi-product global and product- specific economies of scale and scope, and substitutability between inputs is investigated. A translogarithmic cost function is estimated using 1982 data on California savings and loans. Restrictive func- tional forms also estimated are rejected. Standard errors for the statistics calculated are estimated and various statistical tests are conducted. Previous authors have not calculated standard errors for these statistics. No evidence of subadditivity in the industry is found. Copyright 1987 by American Finance Association.