Basel II has pushed firms  BIS Review 72/2007  3  further than they may have gone on their own. In addition, Basel II confers other benefits, including greater operational efficiencies, better capital allocation and greater shareholder value through the use of improved risk models and reporting capabilities.
3  U.S. industry-level studies find that a large part of the decline in match efficiency is driven by the low level of job openings and hires per vacancy in the construction sector – see e.g.