Later, Phochathan, Krasachat, Pompech, & Sanguanwongwan (2009) also
applied the same method in measuring the efficiency of eight Thai major
commercial banks. However, in their research, they measured the efficiency in
two periods, before the economic crisis (1993-1996) and after the economic crisis
(1997-2006). In addition, they also used Malmquist index of Thai banking
industry for the whole period of 1993-2006. Their research has shown that the
mean value of technical and scale efficiency scores before the economic crisis
period are higher than those after the economic crisis period. In addition, the
results also indicated that Thai commercial banks had a rising productivity level at
a decreasing rate. Moreover, they also pointed out that the return on assets and
non-performing loans have affected the productivity growth of the banking
industry in Thailand.