This paper uses data from 732 U.S. small banks operating between 2001 and 2021 to examine the cost efficiency, profitability, and the association between cost efficiency and profitability pre-during and post-2008 Global Financial Crisis (2008 GFC). In step 1, using Data Envelopment Analysis (DEA), the cost efficiency of small U.S. banks is estimated. The results indicate that the overall efficiency of U.S. small banks pre-during-post 2008 GFC has been continuously low, and the sources of the low level of overall efficiency have been the low level of technical rather than allocative efficiency. In turn, the basis of the low level of technical efficiency has been pure technical rather than scale efficiency. In step 2, the profitability of U.S. small banks is analyzed using the same data. The results indicate that the 2008 GFC had a significant negative impact on the profitability of U.S. small banks: The small U.S. banks had high profitability scores pre-2008 GFC, a declining trend that started three years before the 2008 GFC, a sharp decline during the 2008 GFC, and profitability recovery began in 2010 and continues until 2021. In step 3, the association between cost efficiency and profitability is investigated, and there is a strong positive association between overall efficiency and technical efficiency measures with the ROA.

中文翻译：

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2008年全球金融危机对美国小银行效率和盈利能力的影响


本文使用 2001 年至 2021 年间运营的 732 家美国小银行的数据来研究 2008 年全球金融危机 (2008 GFC) 前后的成本效率、盈利能力以及成本效率和盈利能力之间的关联。在步骤 1 中，使用数据包络分析 (DEA) 估算美国小型银行的成本效率。研究结果表明，2008年全球金融危机前后美国小银行的整体效率持续偏低，整体效率低下的根源在于技术效率低下，而不是配置效率低下。反过来，技术效率低下的基础是纯技术效率而非规模效率。在步骤 2 中，使用相同的数据分析美国小型银行的盈利能力。结果表明，2008年全球金融危机对美国小型银行的盈利能力产生了显着的负面影响：美国小型银行在2008年全球金融危机之前的盈利能力得分很高，并且在2008年全球金融危机前三年就开始出现下降趋势，在2008年全球金融危机期间急剧下降。 2008 年全球金融危机，盈利能力恢复从 2010 年开始，一直持续到 2021 年。在步骤 3 中，研究成本效率和盈利能力之间的关联，发现总体效率和技术效率指标与 ROA 之间存在很强的正相关关系。