... of the Portugal, Ireland, Italy, Greece and Spain (PIIGS economies) markets. This paper also seeks to investigate that “If the time series is not martingale, then what else?” Design/methodology/approach Monte Carlo experiments have been undertaken to test the small sample properties of automatic variance...

...Catarina Figueira; Joseph Nellis; David Parker Purpose The purpose of this paper is to investigate the cost efficiency of banks operating in two “non‐core” EU countries, Portugal and Spain, over a number of years. Specifically, the paper aims to examine the extent to which banks' efficiency...

... correlated with capital strength and positively related to the level of non‐performing loans. Weill (2004) in his paper measured the cost efficiency of banks from five European countries (France, Germany, Italy, Spain and Switzerland) with three approaches: stochastic frontier approach, distribution...