Basili M., Fontini F. (2005)
Cost Efficiency and Returns to Scope in Italian Investment Firms. Quaderni del dipartimento di economia politica, Università degli Studi di Siena.
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.