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Bad luck or bad management?: emerging banking market experience
Podpiera, Jiří ; Weill, Laurent
This paper addresses the question of the causality between non-performing loans and cost efficiency in order to examine whether either of these factors is the deep determinant of bank failures. Writers extend the Granger causality model developed by Berger and DeYoung (1997) by applying GMM dynamic panel estimators on a panel of Czech banks between 1994 and 2005.
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