Abstract
In this paper we investigate the relationship between market structure and profitability for the Italian banking industry over the period 1999-2016, taking into account also banks’ efficiency. Our empirical results provide support to the ‘efficient-structure’ hypothesis, while market structure variables – and the related noticeable concentration process of the last decades – seem not to have affected banks’ returns.
JEL classification numbers: G21, L11
Keywords: Banking industry, Market structure, Efficiency, Profitability
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