Efficiency of Commercial Banks in Sub-Saharan Africa: A Comparative Analysis of Domestic and Foreign Banks

Utilizing the stochastic frontier approach, this study conducts a comparative analysis of profit efficiency and cost inefficiency of commercial banks operating in 29 sub-Saharan African (SSA) countries by bank ownership (domestic bank, SSA foreign bank or non-SSA foreign bank), as well as by the bank size during 2000-07. Tobit regressions are employed to assess the impact of environmental factors on the efficiency of commercial banks. The key findings of this empirical analysis suggest that foreign banks tend to outperform domestic banks in terms of profit efficiency. In terms of efficiency by bank size, the smaller the bank, the more profit efficient the bank will be; medium or relatively large banks tend to be the most cost efficient.banking, stochastic frontier, Tobit regression, Africa

Efficiency of commercial banks in sub-Saharan Africa: A comparative analysis of domestic and foreign banks

Utilizing the stochastic frontier approach, this study conducts a comparative analysis of profit efficiency and cost inefficiency of commercial banks operating in 29 sub-Saharan African (SSA) countries by bank ownership (domestic bank, SSA foreign bank or non-SSA foreign bank), as well as by the bank size during 2000-07. Tobit regressions are employed to assess the impact of environmental factors on the efficiency of commercial banks. The key findings of this empirical analysis suggest that foreign banks tend to outperform domestic banks in terms of profit efficiency. In terms of efficiency by bank size, the smaller the bank, the more profit efficient the bank will be; medium or relatively large banks tend to be the most cost efficient

Spectral Evolution of the Unusual Slow Nova V5558 Sgr

We report on the spectral evolution of the enigmatic, very slow nova V5558 Sgr, based on the low-resolution spectra obtained at the Fujii-Bisei Observatory and the Bisei Astronomical Observatory, Japan during a period of 2007 April 6 to 2008 May 3. V5558 Sgr shows a pre-maximum halt and then several flare-like rebrightenings, which is similar to another very slow nova V723 Cas. In our observations, the spectral type of V5558 Sgr evolved from the He/N type toward the Fe II type during the pre-maximum halt, and then toward the He/N type again. This course of spectral transition was observed for the first time in the long history of the nova research. In the rebrightening stage after the initial brightness maximum, we could identify many emission lines accompanied by a stronger absorption component of the P-Cygni profile at the brightness maxima. We found that the velocity of the P-Cygni absorption component measured from the emission peak decreased at the brightness maxima. Furthermore, we compared the spectra of V5558 Sgr with V723 Cas, and other novae which exhibited several rebrightenings during the early phase.Comment: 8 pages, 7figures, accepted for publication in PAS

The Hydrogen Burning Turn-off of RS Ophiuchi 2006

We report a coordinated multi-band photometry of the RS Oph 2006 outburst and highlight the emission line free y-band photometry that shows a mid-plateau phase at y ~ 10.2 mag from day 40 to day 75 after the discovery followed by a sharp drop of the final decline. Such mid-plateau phases are observed in other two recurrent novae, U Sco and CI Aql, and are interpreted as a bright disk irradiated by the white dwarf. We have calculated theoretical light curves based on the optically thick wind theory and have reproduced the observed light curves including the mid-plateau phase and the final sharp decline. This final decline is identified with the end of steady hydrogen shell-burning, which turned out the day ~80. This turnoff date is consistent with the end of a supersoft X-ray phase observed with Swift. Our model suggests a white dwarf mass of 1.35 \pm 0.01 M_\sun, which indicates that RS Oph is a progenitor of Type Ia supernovae. We strongly recommend the y-filter observation of novae to detect both the presence of a disk and the hydrogen burning turn-off.Comment: to appear in ApJL, 4 pages including 4 figure

Optical and Near-Infrared Photometry of Nova V2362 Cyg : Rebrightening Event and Dust Formation

We present optical and near-infrared (NIR) photometry of a classical nova, V2362 Cyg (= Nova Cygni 2006). V2362 Cyg experienced a peculiar rebrightening with a long duration from 100 to 240 d after the maximum of the nova. Our multicolor observation indicates an emergence of a pseudophotosphere with an effective temperature of 9000 K at the rebrightening maximum. After the rebrightening maximum, the object showed a slow fading homogeneously in all of the used bands for one week. This implies that the fading just after the rebrightening maximum ( less or equal 1 week ) was caused by a slowly shrinking pseudophotosphere. Then, the NIR flux drastically increased, while the optical flux steeply declined. The optical and NIR flux was consistent with blackbody radiation with a temperature of 1500 K during this NIR rising phase. These facts are likely to be explained by dust formation in the nova ejecta. Assuming an optically thin case, we estimate the dust mass of 10^(-8) -- 10^(-10) M_solar, which is less than those in typical dust-forming novae. These results support the senario that a second, long-lasting outflow, which caused the rebrightening, interacted with a fraction of the initial outflow and formed dust grains.Comment: 6 pages, 4 figures, 2010, PASJ, 62, 1103--1108, in pres