[
Akhavein, J., Berger, A. and Hummphrey, D. 1997. The Effects of Megamergers on Efficiency and Prices: Evidence from a Bank Profit Function. Review of Industrial Organization 12(1): 95-139. DOI:10.1023/A:1007760924829.10.1023/A:1007760924829
]Search in Google Scholar
[
Altunbas, Y., Carbo, S., Gardener, E. and Molyneux, P. 2007. Examining the Relationships between Capital, Risk and Efficiency in European Banking. European Financial Management 13(1): 49-70. DOI: 10.1111/j.1468-036X.2006.00285.x.10.1111/j.1468-036X.2006.00285.x
]Search in Google Scholar
[
Andries, A. and Capraru, B. 2014. The nexus between competition and efficiency: The European banking industries experience. International Business Review 23 (3): 566-579. DOI: 10.1016/j.ibusrev.2013.09.004.10.1016/j.ibusrev.2013.09.004
]Search in Google Scholar
[
Andries, A. and Ursu, S. 2016. Financial crisis and bank efficiency: An empirical study of European banks. Economic Research-Ekonomska Istrazivanija 29 (1): 485-497.10.1080/1331677X.2016.1175725
]Search in Google Scholar
[
Ariss, T. 2010. On the implications of market power in banking: evidence from developing countries. Journal of Banking and Finance 34 (4): 765–775.10.1016/j.jbankfin.2009.09.004
]Search in Google Scholar
[
Asaftei, G. and Kumbhakar, S. 2008. Regulation and efficiency in transition: the case of Romanian banks. Journal of Regulatory Economics 33: 253–282. DOI: 10.1007/s11149-007-9041-0.10.1007/s11149-007-9041-0
]Search in Google Scholar
[
Asongu, S. and Odhiambo, N. 2018. Size, efficiency, market power, and economies of scale in the African banking sector. Financial Innovation 5 (4). https://doi.org/10.1186/s40854-019-0120-x.10.1186/s40854-019-0120-x
]Search in Google Scholar
[
Avramidis, P., Cabolis, Ch. and Serfes, K. 2018. Bank size and market value: The role of direct monitoring and delegation costs. Journal of Banking & Finance 93(C): 127-138. DOI: 10.1016/j.jbankfin.2018.05.016.10.1016/j.jbankfin.2018.05.016
]Search in Google Scholar
[
Baele, L., De Jonghe, O. and Vander Vennet, R. 2007. Does the stock market value bank diversification? Journal of Banking & Finance 31 (7): 1999-2023. https://doi.org/10.1016/j.jbankfin.2006.08.003.10.1016/j.jbankfin.2006.08.003
]Search in Google Scholar
[
Berger, A. 1995. The Profit-Structure Relationship in Banking – Tests of Market-Power and Efficient-Structure Hypotheses. Journal of Money, Credit and Banking 27 (2): 404-431. DOI: 10.2307/2077876.10.2307/2077876
]Search in Google Scholar
[
Berger, A. and Hannan, T. 1998. The efficiency cost of market power in the banking industry: A test of the “quiet life” and related hypotheses. Review of Economics and Statistics 80 (3): 454–465.10.1162/003465398557555
]Search in Google Scholar
[
Berger, A. and Mester, L. 1997. Inside the black box: What explains differences in the efficiencies of financial institutions? Journal of Banking and Finance 21 (7): 895-947. http://dx.doi.org/10.1016/S0378-4266(97)00010-1.10.1016/S0378-4266(97)00010-1
]Search in Google Scholar
[
Berger, A., Hasan, I. and Zhou, M. 2009. Bank ownership and efficiency in China: what will happen in the world’s largest nation? Journal of Banking & Finance 33 (1): 113-130.10.1016/j.jbankfin.2007.05.016
]Search in Google Scholar
[
Boyd, J. and de Nicolo, G. 2005. The theory of bank risk taking and competition revisited. The Journal of Finance 60 (3): 1329–1343. https://doi.org/10.1111/j.1540-6261.2005.00763.x.10.1111/j.1540-6261.2005.00763.x
]Search in Google Scholar
[
Casu, B. and Girardone, C. 2006. Bank competition, concentration and efficiency in the single European market. The Manchester School 74 (4): 441-468.10.1111/j.1467-9957.2006.00503.x
]Search in Google Scholar
[
Chen, Ch. 2009. Bank Efficiency in Sub-Saharan African Middle Income Countries. IMF Working Paper 09/14: 1-34.10.5089/9781451871616.001
]Search in Google Scholar
[
Cifter, A. 2015. Bank concentration and non-performing loans in Central and Eastern European countries. Journal of Business Economics and Management 16 (1):117-137. DOI: 10.3846/16111699.2012.720590.10.3846/16111699.2012.720590
]Search in Google Scholar
[
Coccorese, P. and Pellecchia, A. 2010. Testing the ‘quiet life’ hypothesis in the Italian banking industry. Economic Notes 39 (3): 173-202. http://dx.doi.org/10.1111/j.1468-0300.2011.00227.x.10.1111/j.1468-0300.2011.00227.x
]Search in Google Scholar
[
Curi, C., Lozano-Vivas, A. and Zelenyuk, V. 2015. Foreign bank diversification and efficiency prior to and during the financial crisis: Does one business model fit all? Journal of Banking & Finance 61 (1): S22-S35. https://doi.org/10.1016/j.jbankfin.2015.04.019.10.1016/j.jbankfin.2015.04.019
]Search in Google Scholar
[
Delis, M. 2012. Bank competition, financial reform, and institutions: The importance of being developed. Journal of Development Economics 97 (2): 450-465. DOI: 10.1016/j.jdeveco.2011.05.012.10.1016/j.jdeveco.2011.05.012
]Search in Google Scholar
[
Delis, M. and Papanikolaou, N. 2009. Determinants of bank efficiency: evidence from a semi-parametric methodology. Managerial Finance 35(3): 260-275.10.1108/03074350910931771
]Search in Google Scholar
[
Delis, M. and Tsionas, E. 2009. The joint estimation of bank-level market power and efficiency. Journal of Banking & Finance 33(10): 1842-1850. https://doi.org/10.1016/j.jbankfin.2009.04.006.10.1016/j.jbankfin.2009.04.006
]Search in Google Scholar
[
Demsetz, H. 1973. Industry structure, market rivalry, and public policy. Journal of Law and Economics 16 (1): 1-9.10.1086/466752
]Search in Google Scholar
[
Duygun, M., Sena, V. and Shaban, M. 2013. Schumpeterian competition and efficiency among commercial banks. Journal of Banking and Finance 37 (12): 5176-5185.10.1016/j.jbankfin.2013.07.003
]Search in Google Scholar
[
ECB. 2020. Financial Stability Review. May 2020. European Central Bank. Eurosystem, Frankfurt, Germany. [https://www.ecb.europa.eu/pub/pdf/fsr/ecb.fsr202005~1b75555f66.en.pdf].
]Search in Google Scholar
[
Efthyvoulou, G. and Yildirim, C. 2014. Market power in CEE banking sectors and the impact of the global financial crisis. Journal of Banking and Finance 40: 11-27.10.1016/j.jbankfin.2013.11.010
]Search in Google Scholar
[
Elsas, R., Hackethal, A. and Holzhauser, M. 2010. The anatomy of bank diversification, Journal of Banking & Finance 34: 1274-1287. https://doi.org/10.1016/j.jbankfin.2009.11.024.10.1016/j.jbankfin.2009.11.024
]Search in Google Scholar
[
Evanoff, D.D. and Israilevich, P.R. 1991. Regional differences in bank efficiency and technology. The Annals of Regional Science 25: 41-54. https://doi.org/10.1007/BF01581896.10.1007/BF01581896
]Search in Google Scholar
[
Fang, Y., Hasan, I. and Marton, K. 2011. Bank efficiency in South-Eastern Europe: The role of ownership, market power and institutional development. Economics of Transition 19 (3): 495–520. DOI: 10.1111/j.1468-0351.2011.00420.x10.1111/j.1468-0351.2011.00420.x
]Search in Google Scholar
[
Fries, S. and Taci, A. 2005. Cost efficiency of banks in transition: Evidence from 289 banks in 15 post-communist countries. Journal of Banking & Finance 29: 55-81. DOI:10.1016/j.jbankfin.2004.06.016.10.1016/j.jbankfin.2004.06.016
]Search in Google Scholar
[
Fu, X. and Heffernan, S. 2009. The effects of reform on China’s bank structure and performance. Journal of Banking & Finance 33 (1): 39-52.10.1016/j.jbankfin.2006.11.023
]Search in Google Scholar
[
Fungácová, Z., Shamshur, A. and Weill, L. 2017. Does bank competition reduce cost of credit? Cross-country evidence from Europe. Journal of Banking & Finance 83: 104-120. http://dx.doi.org/10.1016/j.jbankfin.2017.06.014.10.1016/j.jbankfin.2017.06.014
]Search in Google Scholar
[
Goldberg, L. and Rai, A. 1996. The Structure-Performance Relationship for European Banking. Journal of Banking and Finance 20 (4): 745-771.10.1016/0378-4266(95)00021-6
]Search in Google Scholar
[
Greene, W. 2005. Reconsidering heterogeneity in panel data estimators of the stochastic frontier model. Journal of Econometrics 126 (2): 269–303.10.1016/j.jeconom.2004.05.003
]Search in Google Scholar
[
Hannan, T. 1991. Bank commercial loan markets and the role of market structure: evidence from surveys of commercial lending. Journal of Banking & Finance 15 (1): 133-149. https://doi.org/10.1016/0378-4266(91)90042-K.10.1016/0378-4266(91)90042-K
]Search in Google Scholar
[
Hicks, J. 1935. Annual survey of economic theory: The theory of monopoly. Econometrica 3 (1): 1-20. DOI:10.2307/1907343.10.2307/1907343
]Search in Google Scholar
[
Kasman, A. and Yildirim, C. 2006. Cost and profit efficiencies in transition banking: the case of new EU members. Applied Economics 38: 1079-1090. https://doi.org/10.1080/00036840600639022.10.1080/00036840600639022
]Search in Google Scholar
[
Kirkpatrick, C., Murinde, V. and Tefula, M. 2008. The measurement and determinants of x-inefficiency in commercial banks in Sub-Saharan Africa. The European Journal of Finance 14 (7): 625-639, DOI:10.1080/13518470701705769.10.1080/13518470701705769
]Search in Google Scholar
[
Koetter, M., Vins, O. 2008. The quiet life hypothesis in banking: Evidence from German savings banks. Working Paper Series: Finance and Accounting, Fachbereich Wirtschaftswissenschaften, Goethe-Universität Frankfurt a. M. 190/2008. [http://hdl.handle.net/10419/36642].10.2139/ssrn.1100658
]Search in Google Scholar
[
Laeven, L. and Levine, R. 2007. Is there a diversification discount in financial conglomerates? Journal of Financial Economics 85 (2): 331–367.10.1016/j.jfineco.2005.06.001
]Search in Google Scholar
[
Lensink, R., Meesters, A. and Naaborg, I. 2008. Bank efficiency and foreign ownership: Do good institutions matter? Journal of Banking & Finance 32 (5): 834-844.10.1016/j.jbankfin.2007.06.001
]Search in Google Scholar
[
Loukoianova, E. 2008. Analysis of the Efficiency and Profitability of the Japanese Banking System. IMF Working Papers 08 (63). DOI:10.5089/9781451869255.001.10.5089/9781451869255.001
]Search in Google Scholar
[
Lozano-Vivas, A. and Pasiouras, F. 2010. The impact of non-traditional activities on the estimation of bank efficiency: International evidence. Journal of Banking & Finance, 34 (7): 1436-1449.10.1016/j.jbankfin.2010.01.006
]Search in Google Scholar
[
Marquez, R. 2002. Competition, adverse selection, and information dispersion in the banking industry. Review of Financial Studies 15: 901-926.
]Search in Google Scholar
[
Maudos, J. and Fernandez de Guevara, J. 2007. The cost of market power in banking: Social welfare loss vs. cost inefficiency. Journal of Banking & Finance 31 (7): 2103-2125.10.1016/j.jbankfin.2006.10.028
]Search in Google Scholar
[
Maudos. J., Pastor, J., Perez. F. and Quesada, J. 2002. Cost and profit efficiency in European banks. Journal of International Financial Markets Institutions and Money 12 (1): 33-58. DOI:10.1016/S1042-4431(01)00051-8.10.1016/S1042-4431(01)00051-8
]Search in Google Scholar
[
Mesa, R., Sánchez, H. and Sobrino, J. 2014. Main determinants of efficiency and implications on banking concentration in the European Union. Spanish Accounting Review 17 (1): 78-87.
]Search in Google Scholar
[
Mirzaei, A., Moore, T. and Liu, G. 2013. Does market structure matter on banks’ profitability and stability? Emerging vs. advanced economies. Journal of Banking & Finance 37 (8): 2920-2937. DOI: 10.1016/j.jbankfin.2013.04.031.10.1016/j.jbankfin.2013.04.031
]Search in Google Scholar
[
Molyneux, P. and Forbes, W. 1995. Market Structure and Performance in European Banking. Journal of Applied Economics 27: 155-159. DOI:10.1080/00036849500000018.10.1080/00036849500000018
]Search in Google Scholar
[
MNB. 2020. Financial Stability Report. May 2020. The Magyar Nemzeti Bank, Budapest, Hungary. [https://www.mnb.hu/letoltes/financial-stability-report-2020-may.pdf].
]Search in Google Scholar
[
NBP. 2018. Financial Stability Report. December 2018. National Bank of Poland, Warsaw, Poland. [https://www.nbp.pl/en/systemfinansowy/fsr201812.pdf].
]Search in Google Scholar
[
NBP. 2020. Financial Stability Report. Special Issue: impacts of the COVID-19 pandemic. June 2020. National Bank of Poland, Warsaw, Poland [https://www.nbp.pl/en/systemfinansowy/fsr202006.pdf].
]Search in Google Scholar
[
NBU. 2020. Financial Stability Report. June 2020. The National Bank of Ukraine, Kiev, Ukraine. [https://bank.gov.ua/admin_uploads/article/FSR_2020-H1_eng.pdf].
]Search in Google Scholar
[
NBS. 2020. Financial Stability Report. May 2020. Narodna Banka Slovenska. Eurosystem, Bratislava, Slovakia. [https://www.nbs.sk/_img/Documents/ZAKLNBS/PUBLIK/SFS/FSR_052020.pdf].
]Search in Google Scholar
[
Niţoi, M. and Spulbar, C. 2015. An Examination of Banks’ Cost Efficiency in Central and Eastern Europe. Procedia Economics and Finance 22: 544-551.10.1016/S2212-5671(15)00256-7
]Search in Google Scholar
[
Parmeter, Ch. and Kumbhakar, S. 2014. Efficiency Analysis: A Primer on Recent Advances (Foundations and Trends in Econometrics). University of Miami, State University of New York at Binghamton, the USA.10.1561/0800000023
]Search in Google Scholar
[
Pasiouras, F. 2008. International evidence on the impact of regulations and supervision on banks’ technical efficiency: an application of two-stage data envelopment analysis. Review of Quantitative Finance and Accounting 30: 187-223. https://doi.org/10.1007/s11156-007-0046-7.10.1007/s11156-007-0046-7
]Search in Google Scholar
[
Peng, J., Jeng, V., Wang, J. and Chen, Y. 2017. The impact of bancassurance on efficiency and profitability of banks: Evidence from the banking industry in Taiwan. Journal of Banking & Finance 80: 1-13.10.1016/j.jbankfin.2017.03.013
]Search in Google Scholar
[
Peristiani, S. 1997. Do Mergers Improve the X-Efficiency and Scale Efficiency of U.S. Banks? Evidence from the 1980s. Journal of Money, Credit and Banking 29 (3): 326-337.10.2307/2953697
]Search in Google Scholar
[
Pruteanu-Podpiera, A., Weill, L. and Schobert, F. 2008. Banking competition and efficiency: a micro-data analysis on the Czech banking industry. Comparative Economic Studies 50 (2): 253-273, http://dx.doi.org/10.1057/palgrave.ces.8100248.10.1057/palgrave.ces.8100248
]Search in Google Scholar
[
Rhoades, S. and Rutz, R. 1982. Market power and firm risk: A test of the `quiet life’ hypothesis. Journal of Monetary Economics 9 (1): 73-85.10.1016/0304-3932(82)90051-4
]Search in Google Scholar
[
Saghi-Zedek, N. 2016. Product diversification and bank performance: Does ownership structure matter? Journal of Banking & Finance 71: 154–167. http://dx.doi.org/10.1016/j.jbankfin.2016.05.003.10.1016/j.jbankfin.2016.05.003
]Search in Google Scholar
[
Schmid, M. and Walter, I. 2009. Do Financial Conglomerates Create or Destroy Economic Value? Journal of Financial Intermediation 18 (2):193-216. DOI: 10.1016/j. jfi.2008.07.002.
]Search in Google Scholar
[
Shijaku, G. 2017. Does Concentration Matter for Bank Stability? Evidence from the Albanian Banking Sector. Journal of Central Banking Theory and Practice 6 (3): 67-94.10.1515/jcbtp-2017-0021
]Search in Google Scholar
[
Silva, T., Guerra, S., Tabak, B. and de Castro Miranda, R. 2016. Financial networks, bank efficiency and risk-taking. Journal of Financial Stability 25 (C): 247-257.
]Search in Google Scholar
[
Smirlock, M. 1985. Evidence on the (Non) Relationship between Concentration and Profitability in Banking. Journal of Money, Credit and Banking 17 (1): 69-83.10.2307/1992507
]Search in Google Scholar
[
Tabak, B., Fazio, D. and Cajueiro, D. 2012. The relationship between banking market competition and risk-taking: Do size and capitalization matter? Journal of Banking & Finance 36 (12): 3366-3381. DOI: 10.1016/j. jbankfin.2012.07.022.
]Search in Google Scholar
[
Vander Vennet, R. 2002. Cost and Profit Efficiency of Financial Conglomerates and Universal Banks in Europe. Journal of Money, Credit and Banking 34 (1): 254-82.10.1353/mcb.2002.0036
]Search in Google Scholar
[
Williams, J. 2012. Efficiency and market power in Latin American banking. Journal of Financial Stability 8 (4): 263-276. DOI: 10.1016/j.jfs.2012.05.001.10.1016/j.jfs.2012.05.001
]Search in Google Scholar
[
Yildirim, S. and Philippatos, G. 2007. Efficiency of banks: Recent evidence from the transition economies of Europe, 1993–2000. European Journal of Finance 13: 123-143. DOI:10.1080/13518470600763687.10.1080/13518470600763687
]Search in Google Scholar