FDI and heterogeneity in bank efficiency: evidence from emerging markets

The inquiry into whether foreign firms are more productive than local firms has been one of the key research questions among international business scholars. We extend this line of research by addressing the heterogeneity among different performance measures. In this study, we examine the impact of foreign direct investment (FDI) on four internal measures of efficiency, i.e. overall technical, pure technical, scale and cost efficiencies, as well as an external measure of efficiency, i.e. revenue efficiency in the emerging markets banking sector. In contrast to previous studies that have perceived bank efficiency in a generic sense and have operationalized their efficiency measure with different measures of efficiency, we develop theoretical arguments to explain how the FDI-efficiency relationship can differ across these five types of efficiencies. We empirically test our hypotheses while accounting for endogeneity among efficiency, risk and capital under a three-stage least squares model. Our findings broadly suggest that foreign banks have an advantage in terms of overall technical efficiency and scale efficiency, but do not have an advantage in terms of pure technical efficiency, cost efficiency and revenue efficiency

FDI and heterogeneity in bank efficiency: evidence from emerging markets

The inquiry into whether foreign firms are more productive than local firms has been one of the key research questions among international business scholars. We extend this line of research by addressing the heterogeneity among different performance measures. In this study, we examine the impact of foreign direct investment (FDI) on four internal measures of efficiency, i.e. overall technical, pure technical, scale and cost efficiencies, as well as an external measure of efficiency, i.e. revenue efficiency in the emerging markets banking sector. In contrast to previous studies that have perceived bank efficiency in a generic sense and have operationalized their efficiency measure with different measures of efficiency, we develop theoretical arguments to explain how the FDI-efficiency relationship can differ across these five types of efficiencies. We empirically test our hypotheses while accounting for endogeneity among efficiency, risk and capital under a three-stage least squares model. Our findings broadly suggest that foreign banks have an advantage in terms of overall technical efficiency and scale efficiency, but do not have an advantage in terms of pure technical efficiency, cost efficiency and revenue efficiency

Deaths per age group.

This paper deals with the analysis of trends in road accidents on highways in Brazil. We use time series techniques based on fractional integration that allow us to determine if exogenous shocks in the data have transitory or permanent effects depending on the order of integration of the series. Our results indicate that a low degree of long memory was detected in the series with shocks having thus transitory effects over time. We further find that the number of accidents have been reducing over time, though in the presence of negative shocks, the recovery is not going to be immediate due to the long memory nature of the data. Despite the absence of relevant investment relating to infrastructure expansion, it is worth mentioning the consolidation of a nationwide tolled road system in Brazil involving concessions to private administrators, alongside more severe traffic laws that can impose limitations on driving licences.</div

Number of accidents per road (daily).

This paper deals with the analysis of trends in road accidents on highways in Brazil. We use time series techniques based on fractional integration that allow us to determine if exogenous shocks in the data have transitory or permanent effects depending on the order of integration of the series. Our results indicate that a low degree of long memory was detected in the series with shocks having thus transitory effects over time. We further find that the number of accidents have been reducing over time, though in the presence of negative shocks, the recovery is not going to be immediate due to the long memory nature of the data. Despite the absence of relevant investment relating to infrastructure expansion, it is worth mentioning the consolidation of a nationwide tolled road system in Brazil involving concessions to private administrators, alongside more severe traffic laws that can impose limitations on driving licences.</div

Estimated coefficients in the selected models.

This paper deals with the analysis of trends in road accidents on highways in Brazil. We use time series techniques based on fractional integration that allow us to determine if exogenous shocks in the data have transitory or permanent effects depending on the order of integration of the series. Our results indicate that a low degree of long memory was detected in the series with shocks having thus transitory effects over time. We further find that the number of accidents have been reducing over time, though in the presence of negative shocks, the recovery is not going to be immediate due to the long memory nature of the data. Despite the absence of relevant investment relating to infrastructure expansion, it is worth mentioning the consolidation of a nationwide tolled road system in Brazil involving concessions to private administrators, alongside more severe traffic laws that can impose limitations on driving licences.</div

Correlogram of roads accidents.

This paper deals with the analysis of trends in road accidents on highways in Brazil. We use time series techniques based on fractional integration that allow us to determine if exogenous shocks in the data have transitory or permanent effects depending on the order of integration of the series. Our results indicate that a low degree of long memory was detected in the series with shocks having thus transitory effects over time. We further find that the number of accidents have been reducing over time, though in the presence of negative shocks, the recovery is not going to be immediate due to the long memory nature of the data. Despite the absence of relevant investment relating to infrastructure expansion, it is worth mentioning the consolidation of a nationwide tolled road system in Brazil involving concessions to private administrators, alongside more severe traffic laws that can impose limitations on driving licences.</div

Descriptive statistics for the number of accidents per day in major Brazilian roads.

Descriptive statistics for the number of accidents per day in major Brazilian roads.</p

Top 10 causes of death in Brazil, their rate and ranking.

Top 10 causes of death in Brazil, their rate and ranking.</p

Image_2_Efficacy of atosiban for repeated embryo implantation failure: A systematic review and meta-analysis.tif

BackgroundRepeated embryo implantation failure (RIF) posed a significant challenge in assisted reproduction. Evidence of its therapeutic effectiveness including atosiban used around embryo transfer to improve pregnancy outcomes in RIF patients undergoing in vitro fertilization-embryo transfer (IVF-ET) remained inconsistent. This study aimed to explore the efficacy of atosiban on pregnancy outcomes of patients with RIF who received IVF-ET. MethodsThe research was designed using the PICOS format. A systematic search of four English databases, PubMed, EMBASE, Web of Science, Cochrane Library, and one Chinse database, China National Knowledge Infrastructure (CNKI) was conducted. The time range was from inception to December 10, 2022. Then trials comparing the efficacy of atosiban and control group on pregnancy outcomes in RIF patients who receive IVF-ET were included. Subgroup analysis and sensitivity analysis were performed to reduce the influence of heterogeneity between included studies. Risk ratio (RR) and 95% confidence interval (CI) were calculated. The main outcome measure was clinical pregnancy rate (CPR). For the analyses, StataMP 17.0 (Stata Corporation, USA) was used.ResultsTwo prospective randomized controlled trials (RCTs), one prospective cohort study and four retrospective cohort studies were included. Our results showed that atosiban was associated with higher clinical pregnancy rate (RR=1.54, 95% CI: 1.365–1.735, P 2 = 0.0%). The results of subgroup analysis based on study types (prospective randomized controlled clinical trial, retrospective cohort study and prospective cohort study) showed that in all types of studies, CPR of atosiban group was significantly higher than controlled group. The results of subgroup analysis based upon the diagnostic criteria of number of previous embryo transfer failures showed that the intervention of atosiban improved the CPR whether in participants with 2 previous ET failures or in participants with 3 previous ET failures. Nevertheless, the incidence of ectopic pregnancy, multiple pregnancy, and miscarriages were not significantly different between the case and control groups.ConclusionFor women who are undergoing IVF-ET and have experienced repeated embryo implantation failure, atosiban may be an important factor in enhancing pregnancy outcomes. To confirm this conclusion, more thorough, prospective randomized controlled studies of sizable sample sizes with well design are required.</p

Image_1_Efficacy of atosiban for repeated embryo implantation failure: A systematic review and meta-analysis.tif

BackgroundRepeated embryo implantation failure (RIF) posed a significant challenge in assisted reproduction. Evidence of its therapeutic effectiveness including atosiban used around embryo transfer to improve pregnancy outcomes in RIF patients undergoing in vitro fertilization-embryo transfer (IVF-ET) remained inconsistent. This study aimed to explore the efficacy of atosiban on pregnancy outcomes of patients with RIF who received IVF-ET. MethodsThe research was designed using the PICOS format. A systematic search of four English databases, PubMed, EMBASE, Web of Science, Cochrane Library, and one Chinse database, China National Knowledge Infrastructure (CNKI) was conducted. The time range was from inception to December 10, 2022. Then trials comparing the efficacy of atosiban and control group on pregnancy outcomes in RIF patients who receive IVF-ET were included. Subgroup analysis and sensitivity analysis were performed to reduce the influence of heterogeneity between included studies. Risk ratio (RR) and 95% confidence interval (CI) were calculated. The main outcome measure was clinical pregnancy rate (CPR). For the analyses, StataMP 17.0 (Stata Corporation, USA) was used.ResultsTwo prospective randomized controlled trials (RCTs), one prospective cohort study and four retrospective cohort studies were included. Our results showed that atosiban was associated with higher clinical pregnancy rate (RR=1.54, 95% CI: 1.365–1.735, P 2 = 0.0%). The results of subgroup analysis based on study types (prospective randomized controlled clinical trial, retrospective cohort study and prospective cohort study) showed that in all types of studies, CPR of atosiban group was significantly higher than controlled group. The results of subgroup analysis based upon the diagnostic criteria of number of previous embryo transfer failures showed that the intervention of atosiban improved the CPR whether in participants with 2 previous ET failures or in participants with 3 previous ET failures. Nevertheless, the incidence of ectopic pregnancy, multiple pregnancy, and miscarriages were not significantly different between the case and control groups.ConclusionFor women who are undergoing IVF-ET and have experienced repeated embryo implantation failure, atosiban may be an important factor in enhancing pregnancy outcomes. To confirm this conclusion, more thorough, prospective randomized controlled studies of sizable sample sizes with well design are required.</p