Inside the black box: What explains differences in the efficiencies of financial institutions?
这篇论文回顾了关于金融机构效率差异来源的文献，并利用1990-1995年美国银行数据，检验了效率概念、测量方法以及银行、市场和监管特征的影响。
Over the past several years, substantial research effort has gone into measuring the efficiency of financial institutions. Many studies have found that inefficiencies are quite large, on the order of 20% or more of total banking industry costs and about half of the industry's potential profits. There is no consensus on the sources of the differences in measured efficiency. this paper examines several possible sources, including differences in efficiency concept, measurement method, and a number of bank, market, and regulatory characteristics. We review the existing literature and provide new evidence using data on US banks over the period 1990–1995.