Nathan and Neave (1989) also rejected the hypothesis of monopoly and perfect competition for Canadian banks
over the period 1983-1984. Molyneux et al. (1996) used the same analysis in a sample of German, UK, French,
Italian, and Spanish banks for the period 1986 to 1989.Their results suggest monopolistic competition in Germany,
France, Spain, and the UK, and monopoly in Italy.