The Impact of Risk Exposure and Environmental Conditions on European Banking Efficiency
用动态贝叶斯随机前沿方法，将银行成本效率拆分为内部因素（如规模、风险）和外部环境因素，发现两者影响显著且因国家、时间而异，对银行管理和政策制定有参考价值。
ABSTRACT This study investigates the determinants of bank cost efficiency in Europe by applying a dynamic Bayesian stochastic frontier approach. We distinguish between two conceptually and empirically separate components of efficiency: (1) an intrinsic component, driven by internal bank features such as size and risk exposure, and (2) an extrThis study investigates the determinantsnsic component, shaped by broader sectoral and macroeconomic conditions. The results confirm that cost efficiency is significantly influenced by intrinsic factors, as well as by environmental conditions. The relative influence of intrinsic and extrinsic factors varies across countries and over time, highlighting the importance of context‐specific and adaptive policy and managerial responses.