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Functional Structure and Approximation in Econometrics
Type: Book
ISBN: 978-0-44450-861-4

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Functional Structure and Approximation in Econometrics
Type: Book
ISBN: 978-0-44450-861-4

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Article
Publication date: 1 September 2004

Linbo Fan and Sherrill Shaffer

This paper studies the profit efficiency of a sample of large U.S. commercial banks and explores how this performance varies with selected measures of bank risk reflecting…

Abstract

This paper studies the profit efficiency of a sample of large U.S. commercial banks and explores how this performance varies with selected measures of bank risk reflecting aspects of credit risk, liquidity risk, and insolvency risk. We use a standard profit function and the stochastic frontier approach, and compare two standard functional forms – Cobb‐Douglas and translog – to assess the tradeoff between precision and parsimony. We find that profit efficiency is sensitive to credit risk and insolvency risk but not to liquidity risk or to the mix of loan products.

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Managerial Finance, vol. 30 no. 9
Type: Research Article
ISSN: 0307-4358

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Book part
Publication date: 2 July 2004

W. Erwin Diewert

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Functional Structure and Approximation in Econometrics
Type: Book
ISBN: 978-0-44450-861-4

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Functional Structure and Approximation in Econometrics
Type: Book
ISBN: 978-0-44450-861-4

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The Theory of Monetary Aggregation
Type: Book
ISBN: 978-0-44450-119-6

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The Theory of Monetary Aggregation
Type: Book
ISBN: 978-0-44450-119-6

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Abstract

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Functional Structure and Approximation in Econometrics
Type: Book
ISBN: 978-0-44450-861-4

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Article
Publication date: 4 May 2012

Massimo N. Nardo and Ronald D. Francis

The purpose of this paper is to address the established dilemma of action versus intent as explanations of the basis of ethical behaviour. In essence it aims to pose the…

Abstract

Purpose

The purpose of this paper is to address the established dilemma of action versus intent as explanations of the basis of ethical behaviour. In essence it aims to pose the question “If one had a choice between an executive who acted from cold calculated intent, and behaved ethically as it was profitable – compared to someone with excellent intent who consistently got it ethically wrong – who would you choose – the psychopathic ethicist or the well‐intentioned bumbler?”. The intended contribution of this paper is to add some further considerations to that debate.

Design/methodology/approach

This paper notes the basic dilemma of moral choice, action or intent: it also adds to the debate by a consideration of several lesser points, including different meanings of “outcome” and the awareness that morals refer to an underpinning value choice. Its analytic path touches short‐term versus long‐term perspectives, commonsense, the theoretical debate, idealism and utilitarianism, equitability, morals and the law, morality and genes, unintended consequences and paradox of compliance.

Findings

The paper acknowledges that moral values are values that may be derived from wider elements, and that moral choices are such that they should be expressed in principles that transcend special times, place, or special pleading. There is an expressed need for consistency of approach.

Research limitations/implications

The debate, still alive and well, needs to extend to include contemporary issues. The present writers are inclined to the view that a raised awareness of the issue, and its application to real life situations, is critical. The discussed issues would certainly benefit from further speculation.

Practical implications

Morals must operate in a real world, and that clearly implies desirable outcomes: good intent is recognised as powerful – but does not do as much to foster moral behaviour as does an orientation to outcome. It is such qualifications that need to be borne in mind when considering the complementary roles of moral decision making in any context, including that of business and of crime. It is hoped that directorial and managerial decisions will be invested with this understanding.

Originality/value

The major contributions that this paper seeks to make is that the distinction between intent and consequences may be a false dichotomy; that the notion of outcome has more than one meaning; and that so often our intentions have paradoxical outcomes.

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Journal of Financial Crime, vol. 19 no. 2
Type: Research Article
ISSN: 1359-0790

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Article
Publication date: 1 January 1957

AN ESTEEMED correspondent points out that there are about two dozen library magazines of all sorts and sizes in circulation, whereas when he started his career there were…

Abstract

AN ESTEEMED correspondent points out that there are about two dozen library magazines of all sorts and sizes in circulation, whereas when he started his career there were no more than three. Our correspondent has himself had considerable editorial experience, and it may be that he is still in harness in that regard. One of his earliest efforts was in running the magazine of the old Library Assistants' Association, and it is not likely that that magazine has ever reached the same heights of excellence as it attained in his day. He observes that there are far too many library magazines now in circulation. We agree.

Details

Library Review, vol. 16 no. 1
Type: Research Article
ISSN: 0024-2535

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