Basili M., Fontini F. (2005).

Cost Efficiency and Returns to Scope in Italian Investment Firms. Quaderni del dipartimento di economia politica, pp. 1-22. Università degli Studi di Siena.

Abstract:

This paper estimates cost efficiency and returns to scope of Italian investment firms during the period 1998−2002, following the stochastic frontier function approach. Results indicate a large inefficiency for Italian investment firms (with a high standard deviation across sample) and the absence of significant returns to scope.