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Cost Behavior During the Global Financial Crisis: The Case of Korean Commercial Banks

Cost Behavior During the Global Financial Crisis: The Case of Korean Commercial Banks

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Using a panel data of Korean commercial banks for the period 1991-2012, I find that the cost behavior of Korean commercial banks has exhibited some mixed evidence. In general, for the pooled sample, total operating costs and other operating costs show anti-cost stickiness, but interest costs indicate cost stickiness. Furthermore, the financial crisis of 2007-2008 attenuated the anti-stickiness of total operating costs and other operating costs and reinforced the stickiness of interest costs during this crisis period. However, the worldwide financial crisis of 2008-2009 triggered by the collapse of Bear Stearns and Lehman Brothers continued to attenuate the anti-stickiness of total operating costs and other operating costs, but did not have any impact on sticky behavior of interest costs during this another crisis period.

1. Introduction

2. Data and Descriptive Statistics

3. Estimation Model

4. Empirical Results

5. Concluding Remarks

References

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