Market structure, institutional framework and bank efficiency in ASEAN 5

This paper aims to examine the mediating role of institutional framework on the effect of market concentration towards bank efficiency in the ASEAN-5. We adopt a two-stage methodology using the Slack-Based Measures Data Envelopment Analysis and the system Generalized Method of Moments, and focus on the post-Asian Financial Crisis period which saw major banking consolidation in the region. Our findings are consistent with economic theory which...