This study utilizes a probabilistic production analysis framework to explore the relationship between advertising expenditure and operational efficiency in major U.S. banks (2001–2020). Findings reveal a non‐linear, positive correlation between advertising spending and banks' technological innovation capacity. Higher advertising investments enhance banks' competitiveness and drive technological progress. The model considers unobserved heterogeneity, incorporating factors like socio‐economic profiles and past non‐performing loans. Robustness analysis across sub‐periods confirms the enduring positive impact of advertising on bank performance.

中文翻译：

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广告支出和银行绩效中未观察到的异质性：条件非参数前沿分析

本研究利用概率生产分析框架来探讨美国主要银行的广告支出与运营效率之间的关系（2001-2020）。调查结果显示，广告支出与银行技术创新能力之间存在非线性正相关关系。更高的广告投资可以增强银行的竞争力并推动技术进步。该模型考虑了未观察到的异质性，纳入了社会经济状况和过去不良贷款等因素。跨子时期的稳健性分析证实了广告对银行业绩的持久积极影响。