共查询到20条相似文献,搜索用时 31 毫秒
1.
Laurent Cavaignac 《Journal of Productivity Analysis》2009,31(2):95-100
The question of whether a technology exhibits particular properties such as radial input or output homotheticity is a crucial
one for a producer since it should strongly impact on its reactions to market changes. Primont and Primont (Econ Lett 45:191–195,
1994) established that it can be tested using only weak assumptions. They further used their results to test for input homotheticity
of an educational production technology (Primont and Primont, Can J Econ 29:587–591, 1996). In this paper, it is shown that
if not implemented properly, the test can lead to biased results. Some ways to obtain unbiased results are also suggested.
相似文献
Laurent CavaignacEmail: |
2.
Are some Indian banks too large? An examination of size efficiency in Indian banking 总被引:1,自引:0,他引:1
Subhash C. Ray 《Journal of Productivity Analysis》2007,27(1):41-56
In this paper we use data from the years 1997–2003 to evaluate the size efficiency, as distinct from scale efficiency, of
Indian banks. Following Maindiratta [Maindiratta A (1990) J Econ 46:39–56] we consider a bank to be “too large” if breaking
it up into a number of smaller units would result in a larger output bundle than what could be produced from the same input
by a single bank. When this is the case, the bank is not size efficient. Our analysis shows that many of the banks are, indeed,
too large in various years. We also find that often a bank is operating in the region of diminishing returns to scale but
is not a candidate for break up.
相似文献
Subhash C. RayEmail: |
3.
Sanna-Mari Hynninen 《Journal of Productivity Analysis》2009,31(1):15-26
This paper investigates the technical efficiency of labor market matching from a stochastic frontier approach. The true fixed-effects
model (Greene J Prod Anal 23:7–32, 2005a; J Econom 126:269–303, 2005b) is utilised in order to separate cross-sectional heterogeneity from inefficiency, and inefficiency terms are modelled following
Battese and Coelli (Empir Econ 20:325–332, 1995). The data set consists of almost 17,000 observations from Local Labor Offices (LLOs) in Finland. According to the results,
there are notable differences in matching efficiency between regions, and these differences contribute significantly to the
number of filled vacancies. If all regions were as efficient as the most efficient one, the number of total matches per month
would increase by over 23%. The heterogeneity of the job-seeker stock is an important determinant of matching efficiency:
the weight of the composition of the job-seeker stock in the inefficiency terms is on average 85%.
相似文献
Sanna-Mari HynninenEmail: |
4.
This paper examines the impact of R&D on multifactor productivity in the U.S. agricultural sector over the 1910–1990 period.
We use the Bennet–Bowley indicator to measure agricultural productivity based on a multiple output-multiple input technology.
We demonstrate the relationship between the price dependent Bennet–Bowley indicator and the Luenberger productivity indicator
which is constructed from directional distance functions without requiring price information. These performance measures are
dual to the profit function which arguably makes them especially useful in the agricultural setting. We employ time-series
techniques to investigate the effect of R&D on the pattern of productivity growth. We find that we cannot reject the presence
of a cointegrating relationship between the two series and that productivity growth in the U.S. agriculture responds positively
to R&D expenditure with a lag of between four and ten periods.
相似文献
D. MargaritisEmail: |
5.
Gokhan H. Akay 《Journal of Productivity Analysis》2009,31(1):47-55
This study analyzes the impact of trade on wages in the context of the specific factors model by focusing on the link between
trade and the average real wage. A recent paper by Jones and Ruffin (Rev Int Econ, 16:234–249, 2008) shows how one can use
the specific factors model to predict how labor should fare from an improvement in the terms of trade. For this purpose, I
use annual firm-level data on the manufacturing sector in Ghana during the period 1991–1997. I find that a ceteris paribus increase in the price of exportables in the wood industry would help labor but labor would be hurt by price increases in
the food-baker, furniture, textile-garment, and metal-machinery industries.
相似文献
Gokhan H. AkayEmail: |
6.
This paper covers some of the past accomplishments of DEA (Data Envelopment Analysis) and some of its future prospects. It
starts with the “engineering-science” definitions of efficiency and uses the duality theory of linear programming to show
how, in DEA, they can be related to the Pareto–Koopmans definitions used in “welfare economics” as well as in the economic
theory of production. Some of the models that have now been developed for implementing these concepts are then described and
properties of these models and the associated measures of efficiency are examined for weaknesses and strengths along with
measures of distance that may be used to determine their optimal values. Relations between the models are also demonstrated
en route to delineating paths for future developments. These include extensions to different objectives such as “satisfactory”
versus “full” (or “strong”) efficiency. They also include extensions from “efficiency” to “effectiveness” evaluations of performances
as well as extensions to evaluate social-economic performances of countries and other entities where “inputs” and “outputs”
give way to other categories in which increases and decreases are located in the numerator or denominator of the ratio (=engineering-science)
definition of efficiency in a manner analogous to the way output (in the numerator) and input (in the denominator) are usually
positioned in the fractional programming form of DEA. Beginnings in each of these extensions are noted and the role of applications
in bringing further possibilities to the fore is highlighted.
相似文献
J. ZhuEmail: |
7.
In this paper, we address the question of Data Envelopment Analysis (DEA) evaluation of efficiency when aggregate cost or
revenue data must be used. We show that the DEA technical inefficiency measure using total revenues as the single output variable
or total costs as the single input variable equals the aggregate technical and allocative inefficiency. We employ this result
to estimate allocative inefficiency and construct statistical tests of the null hypothesis of no allocative inefficiency analogous
to those of the null hypothesis of no scale inefficiency. We illustrate our method using revenue and personnel data for the
top U.S. public accounting firms over 1995–1998. Our empirical results indicate the existence of statistically significant
allocative inefficiency in the public accounting industry.
相似文献
Ram NatarajanEmail: |
8.
Investment and dynamic DEA 总被引:1,自引:0,他引:1
A dynamic version of data envelopment analysis (DEA) is developed in the present paper. Our model introduces investment in
traditional DEA and imposes intertemporal cost minimization. Adding an intertemporal adjustment constraint into the cost minimization
problem, we derive the relation between the DEA variables of the variable cost function and those of the primary production
frontiers’ coefficients. The augmented DEA model can be solved using standard linear programming. This dynamic framework enables
computing the production frontiers, measuring the productive efficiencies and evaluating the potential economies all in the
presence of adjustment costs.
相似文献
Li YanEmail: |
9.
Laurent Weill 《Journal of Productivity Analysis》2008,29(2):79-89
This paper aims at comparing macroeconomic performance of three European socialist economies (Hungary, Poland, Yugoslavia)
with developing and developed countries during the 1970s and the 1980s. Using panel data for 89 countries, we measure macroeconomic
performance with two panel data production frontier models: the WITHIN model proposed by (Cornwell et al J Econom 46:185–200,
1990), and the firm effects model developed by (Battese and Coelli J Prod Anal 3:153–169, 1992). We conclude in favor of the
underperformance of socialist countries in relation to developed countries but also to developing countries in most cases,
which may be explained by the features of the socialist economic system.
相似文献
Laurent WeillEmail: |
10.
In this paper we develop a test of infinite order degree stochastic dominance based on the use of the empirical Laplace transform
function. Two applications are considered. One uses the income data of Anderson (Econometrica 64:1183–1193, 1996) and derives results consistent with his. In the other application we examine the dominance between the U.S. and U.K. stock
markets. Using data on the S&P 500 and the FTALL-Share we show that the U.S. displays infinite order degree stochastic dominance
of the U.K.
相似文献
Stephen SatchellEmail: |
11.
Hayashi and Prescott (Rev Econ Dyn 5(1):206–235, 2002) argue that the ‘lost decade’ of the 1990s in Japan is explained by
the slowdown in exogenous TFP growth rates. At the same time, other research suggests that Japanese banks’ support for inefficient
firms prolonged recessions by reducing productivity through misallocation of resources. Using the data on large manufacturing
firms between 1969 and 1996, the paper attempts to disentangle the factors behind the slowdown in productivity growth during
the 1990s. The main results show that there was a significant drop in within-firm productivity, the component that is not
affected by reallocation of input and output shares across firms over time, during the 1990s. Although we find that misallocation
among large continuing firms represents a substantial drag to overall TFP growth for these firms throughout the sample period,
the negative impact of misallocation was least visible during the 1990s. The significant reduction in within-firm productivity
growth suggests that, as the Japanese economy has matured, a policy which fosters technological innovations via greater competition,
R&D, and fast technological adoption may have become increasingly important in promoting economic growth.
相似文献
Kazuhiko OdakiEmail: |
12.
The impact of patents and standards on macroeconomic growth: a panel approach covering four countries and 12 sectors 总被引:1,自引:0,他引:1
Based on the assumption that codified technological know-how contributes to economic growth, this paper presents the estimation
of a Cobb–Douglas production function, pooling data from four European countries and 12 sectors. The empirical results confirm
that both the stock of patents and the stock of technical standards contribute significantly to economic growth in the 1990s.
Whereas the results of the country models are rather similar, we observe significant differences between the sector models,
which indicate that standards are more important for growth in less R&D-intensive industries and patents in R&D-intensive
industries.
相似文献
Knut BlindEmail: |
13.
David B. Audretsch Erik E. Lehmann 《The International Entrepreneurship and Management Journal》2008,4(4):419-429
The market for publicly traded equity is the heart of a modern capitalist system. In particular, the market for newly listed
firms is in turn a bellwether for the public equity market because the entry gives firms expanded access to capital, allowing
them to emerge and grow. On the other hand, stock markets also serve as an institution to reallocate productive resources
from non-surviving to surviving firms. We describe the Neuer Markt—a special segment of the Frankfurt Stock Exchange in Germany—as an institution to foster the creation of new firms and their
destruction.
相似文献
Erik E. Lehmann (Corresponding author)Email: |
14.
Opening the black box: Finding the source of cost inefficiency 总被引:2,自引:0,他引:2
Santiago Carbó Valverde David B. Humphrey Rafael López del Paso 《Journal of Productivity Analysis》2007,27(3):209-220
Parametric and nonparametric procedures are used to identify the apparent source of cost inefficiency in banking. Inefficiencies
of 20–25% from earlier studies are reduced to 1–5% when, in addition to commonly specified cost function influences, variables
reflecting banks’ external business environment and industry indicators of “productivity” are added. These productivity indicators
explain most of the reduction in bank operating cost over 1992–2001 and was 5 times the reduction in the dispersion of inefficiency.
Inefficiency appears stable over time because it is small relative to industry-wide cost changes occurring concurrently and
because technology dispersion is imperfect.
相似文献
David B. HumphreyEmail: |
15.
N. R. Vasudeva Murthy 《Journal of Economics and Finance》2009,33(2):176-188
In this paper, the recently developed panel unit root and the Pedroni cointegration tests are applied to empirically examine
the validity of the Feldstein–Horioka puzzle (F–H puzzle) for a heterogeneous panel of 14 Latin American and five Caribbean
countries over the period, 1960–2002. The findings indicate that in these countries, the long-run solvency condition is maintained.
Finally, employing the Pedroni panel group FM-OLS estimator (2000, 2001), it is found that the statistically significant estimated
savings-retention coefficient for the panel is relatively small indicating that the F–H Puzzle is not valid and thus implying
the prevalence of a moderate degree of capital mobility.
相似文献
N. R. Vasudeva MurthyEmail: |
16.
The methodologies that have been used in existing research to assess the efficiency with which organic farms are operating
are generally based either on the stochastic frontier methodology or on a deterministic non-parametric approach. Recently,
Kumbhakar et al. (J Econom 137:1–27, 2007) proposed a new nonparametric, stochastic method based on the local maximum likelihood
principle. We use this methodology to compare the efficiency ratings of organic and conventional arable crop farms in the
Spanish region of Andalucía. Nonparametrically encompassing the stochastic frontier model is especially useful when comparing
the performance of two groups that are likely to be characterized by different production technologies.
相似文献
Teresa SerraEmail: Email: |
17.
Subal C. Kumbhakar Luis Orea Ana Rodríguez-Álvarez Efthymios G. Tsionas 《Journal of Productivity Analysis》2007,27(2):87-100
In this paper, we estimate parametric input and output distance functions and discuss how to estimate a mixture/latent class
model (LCM) involving the output and input distance functions in the context of multi-input and multi-output production technology.
The proposed technique is applied to a panel data on European Railways (1971–1994). This model allows us to identify determinants
of the efficiency orientation, thereby providing useful information that can help researchers to choose between the input
and the output-oriented approaches. In addition, we develop cross-indices that can be used to compute input (output) technical
inefficiency from the estimates of output (input) distance function.
相似文献
Subal C. KumbhakarEmail: |
18.
Dag Fjeld Edvardsen Finn R. Førsund Sverre A. C. Kittelsen 《Journal of Productivity Analysis》2008,29(3):201-210
A method is presented for classifying strongly efficient units in DEA as interior or exterior, and as self-evaluators or active
peers. The exterior strongly efficient units are found by running the enveloping procedure “from below”. There is no firm
production-function evidence of the efficiency of exterior self-evaluators. Interior self-evaluators are more likely to have
active peers as neighbours in more directions and may therefore represent technology. When performing a second stage regression
analysis of efficiency scores, exterior self-evaluators should be removed. The proportion of exterior active peers also provides
information on whether the variable specification is supported by the data.
相似文献
Sverre A. C. KittelsenEmail: |
19.
The dollars associated with training and development investments for organizations are considerable. Employers are unable
to recoup these expenditures if workers leave the firm before it has had an opportunity to realize the benefits of such training.
To assist businesses in maximizing their return on investments in human capital, it is suggested that training and development
professionals and legal counsel examine the applicability of preemployment agreements to recover their training expenses.
Such cost-sharing agreements—provided they are clear and narrowly written, reasonable, moderate, and serve legitimate business
interests—are permissible contracts that require employees to continue in service for a period of time or reimburse the organization
an agreed-upon sum if they leave before an agreed-upon time.
相似文献
William (Will) T. MawerEmail: |
20.
We examine the determinants of US mutual fund terminations and provide estimates of mutual fund hazard functions. We find
that mutual fund termination correlates with a variety of fund specific variables as well as with market variables such as
the S&P 500 index and the short-term interest rate. We also test the underlying assumptions of the semi-parametric Cox model
and reject proportionality, thus calling to question the use of this model in forming estimates of mutual fund hazard functions.
We find that different fund categories exhibit distinct hazard functions depending on the fund’s investment objectives.
相似文献
Nelson LaceyEmail: |