共查询到20条相似文献,搜索用时 15 毫秒
1.
Cevdet A. Denizer Mustafa Dinc Murat Tarimcilar 《Journal of Productivity Analysis》2007,27(3):177-195
This paper examines the banking efficiency in a pre- and post-liberalization environment by drawing on the Turkish experience
by using DEA. The paper also investigates the scale effect on efficiency. Our findings suggest that liberalization programs
were followed by an observable decline in efficiency. Another finding of the study is that the Turkish banking system had
a serious scale problem during the study period. The second part of our analysis relied on econometric methods and found that
one major reason for such system-wide efficiency decline has been the growing macroeconomic instability of the Turkish economy
in general and financial sector in particular.
相似文献
Mustafa DincEmail: |
2.
Partial derivatives of production functions are necessary in many instances to characterize the technology of firms. We present here a general method to recover the first derivatives of the production function of a profit maximizing firm. The method is systematic and applies even when the optimization problem of the firm is subject to additional constraints. It allows researcher to recover returns to scale and technological progress in complex situations.
相似文献
Stéphane VigeantEmail: |
3.
This article generalizes production risk from a single output production function to a multiple output cost frontier, which is able to examine input-oriented technical efficiencies and production risk simultaneously in the context of a panel data. Furthermore, the joint confidence interval estimates for technical efficiencies are constructed by means of multiple comparisons with the best approach. Whether taking production risk into account or not offers quite dissimilar implications in terms of the average technical efficiency measure and the identification of multiple efficient banks achieving the optimal cost frontier. It is suggested that inferences drawn on the basis of the confidence intervals of technical efficiency provide much more fruitful and insightful information than the point estimation alone. Bank specific risk parameters are found to be highly and positively correlated with fixed-effect estimates, implying that the more risk-averse a bank is, the more technically efficient it will be.
相似文献
Tong-Liang KaoEmail: |
4.
Technical efficiency in farming: a meta-regression analysis 总被引:1,自引:0,他引:1
Boris E. Bravo-Ureta Daniel Solís Víctor H. Moreira López José F. Maripani Abdourahmane Thiam Teodoro Rivas 《Journal of Productivity Analysis》2007,27(1):57-72
A meta-regression analysis including 167 farm level technical efficiency (TE) studies of developing and developed countries
was undertaken. The econometric results suggest that stochastic frontier models generate lower mean TE (MTE) estimates than
non-parametric deterministic models, while parametric deterministic frontier models yield lower estimates than the stochastic
approach. The primal approach is the most common technological representation. In addition, frontier models based on cross-sectional
data produce lower estimates than those based on panel data whereas the relationship between functional form and MTE is inconclusive.
On average, studies for animal production show a higher MTE than crop farming. The results also suggest that the studies for
countries in Western Europe and Oceania present, on average, the highest levels of MTE among all regions after accounting
for various methodological features. In contrast, studies for Eastern European countries exhibit the lowest estimate followed
by those from Asian, African, Latin American, and North American countries. Additional analysis reveals that MTEs are positively
and significantly related to the average income of the countries in the data set but this pattern is broken by the upper middle
income group which displays the lowest MTE.
相似文献
Teodoro RivasEmail: |
5.
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: |
6.
Application of a double bootstrap to investigation of determinants of technical efficiency of farms in Central Europe 总被引:1,自引:1,他引:0
The paper provides one of the first applications of the double bootstrap procedure (Simar and Wilson 2007) in a two-stage estimation of the effect of environmental variables on non-parametric estimates of technical efficiency.
This procedure enables consistent inference within models explaining efficiency scores, while simultaneously producing standard
errors and confidence intervals for these efficiency scores. The application is to 88 livestock and 256 crop farms in the
Czech Republic, split into individual and corporate.
相似文献
Laure LatruffeEmail: |
7.
We use the multivariate extension of Exponential Generalized Autoregressive Conditionally Heteroscedastic (EGARCH) of Nelson,
Econometrica, 59: 347–370, 1991 to test for spillover effects and examine the extent of asymmetries between short- and long-term interest rates and portfolios
of money center, large, and medium-size banks in the U.S. Our results indicate the existence of price and volatility spillovers
from short- and long-term interest rates to the three bank portfolios. We also provide evidence of response asymmetries for
the portfolios of money center and large banks, suggesting that money center and large banks are more sensitive to negative
than positive short- and long-term interest rate changes.
相似文献
Dave O. JacksonEmail: |
8.
This paper analyzes regional determinants of the start-up ratio in the Japanese manufacturing sector. A major contribution
of this study is the comparison between high-tech and low-tech industries. The empirical results using a sample of 253 industrial
districts suggest that business density, weight of the manufacturing sector, and the average business size significantly influence
the start-up ratio in both high-tech and low-tech industries. Distinct differences between these industries were found with
regard to the effects of human capital, research institutes, and the weight of high-tech industries.
相似文献
Hiroyuki OkamuroEmail: |
9.
The 1990s were tumultuous times for the US Real Estate Investment Trusts (REITs) industry. Significant structural changes
occurred during the decade, especially after the 1993 Revenue Reconciliation Act, which tremendously boosted the flow of funds
into the system by allowing the participation of institutional investors in REITs. As a result, the industry experienced remarkable
asset growth during the decade, with a large number of initial public offerings and substantial increases in market capitalization.
Employing the Data Envelopment Analysis-type Malmquist index approach, this paper explores the impact of such environmental
changes on productivity growth, efficiency change, and technological progress of REITs. Our results indicate that while efficiency
of the REITs significantly increased, their average productivity declined and technology regressed during this decade. It
appears that the typical REIT has failed to improve technically, but exerted substantial effort to catch up with the best
practice ones relying mainly on aggressive growth strategies. However, our empirical results indicate that they might have
overextended themselves as most began to suffer from diseconomies of scale.
相似文献
Ihsan IsikEmail: |
10.
Julie A. B. Cagle Amit Sen James E. Pawlukiewicz 《Journal of Economics and Finance》2009,33(1):100-110
This study expands the examination of workforce layoffs by banks to include non-bank financial institutions and explores inter-industry
differences in market reactions to layoff announcements. In examining inter-industry differences, we control for variables
that influence the market’s reaction to a layoff announcement, such as firm size, the size of the layoff, the reason given
for the layoff, and the governance structure of the firm. We provide evidence of inter-industry differences in market reaction
to layoff announcements by financial institutions, with banks experiencing more favorable stock-price reactions than other
types of regulated firms. These results provide evidence that bank regulation reduces asymmetric information surrounding managerial
announcements to a greater degree than the regulation of other types of financial institutions.
相似文献
James E. PawlukiewiczEmail: |
11.
The study of productive efficiency has not been a traditional field of research in fisheries economics. However, recent papers have dealt with testing what it is known as “the good captain hypothesis”, according to which differences in catches among vessels can be explained in terms of skipper skill (efficiency). These papers introduce an interesting research issue: the distinction between luck and efficiency. In this paper, we try to shed more light on this topic using a panel data set on the hake fishery in Northern Spain. In particular, we are interested in separating efficiency not only from luck but also from other time invariant variables, such as vessel characteristics, which sometimes are confounded with efficiency. In contrast to the other papers that deal with this topic, we find that luck is more important than technical efficiency in explaining catches. We argue this can be explained by the fact that other papers use data at a higher level of temporal aggregation. Over longer periods of time, skill persists while luck averages away.
相似文献
Antonio AlvarezEmail: |
12.
Productivity and efficiency of state-owned enterprises in China 总被引:1,自引:0,他引:1
Feng-Cheng Fu Chu-Ping C. Vijverberg Yong-Sheng Chen 《Journal of Productivity Analysis》2008,29(3):249-259
The purpose of this paper is to evaluate the variations in SOE efficiency and productivity from the perspectives of macroeconomic
fluctuations and systematic reform in China during 1986–2003. We use Data Envelopment Analysis to measure SOE efficiency.
Subsequently, we use the Malmquist Index of Productivity change to measure productivity growth. The empirical results show
that SOE efficiency and productivity exhibited obvious improvements during periods of strong systematic reform and a prosperous
economy. The systematic reform after 1998 had a clear-cut impact on SOE performance.
相似文献
Chu-Ping C. VijverbergEmail: |
13.
The paper investigates the measurement of economic efficiency under transaction costs in a second best world. New measurements of technical efficiency, allocative efficiency, and price efficiency are proposed. They have three desirable properties. First, they measure efficiency loss in monetary units. Second, they are additive and can be conveniently summed into an overall efficiency measure. Third, they allow for transaction costs and their effects on prices and trade incentives. The paper investigates the welfare effects of technology choice, government pricing and trade policy, and market imperfections on efficiency. It provides new insights on the measurement of benefits from trade liberalization when trade affects not only price efficiency, but also technical and allocative efficiency.
相似文献
Zohra Bouamra MechemacheEmail: |
14.
Sources of profit change for Telstra, Australia’s largest telecommunications firm, are examined. A new method allows for changes, in a firm’s profits to be broken down into separate effects due to productivity change, price changes, and growth in the firm’s size. This in turn allows us to calculate the distribution of the benefits of productivity improvements between consumers, labor, and shareholders. The results show that around half the benefits from Telstra’s productivity improvements from 1984 to 1994 were passed on to consumers in the form of real price reductions.
相似文献
Kevin J. FoxEmail: |
15.
This study measures productivity growth on Irish dairy farms over the period 1984–2000. A total factor productivity index
is constructed for the dairy system and is decomposed into technical change, efficiency change, and changes in scale efficiency.
This is achieved by estimating a stochastic output distance function model of the production technology in use on Irish dairy
farms. Overall, productivity on Irish dairy farms grew by 1.2% per annum over the sample period.
相似文献
Alan Matthews (Corresponding author)Email: |
16.
In this paper, we analyse the nature of the relationship between market power and technical efficiency for producers’ cooperatives.
More specifically we test two hypotheses: first, we evaluate the extent to which increasing market pressure may help producers’
cooperatives to improve technical efficiency to guarantee positive profits; second, we test whether higher technical efficiency
induces producers’ cooperatives to have a larger market share. These hypotheses are tested on a sample of Italian conventional
and cooperative firms for the Wine Production and Processing sector, using both frontier analysis and dynamic panel techniques.
The results support the hypothesis that increasing market pressure can affect positively the cooperatives′ efficiency, while
gains in technical efficiency do not seem to have any impact on the cooperatives’ market share.
相似文献
Vania SenaEmail: |
17.
We analyze how the market processes a signaling event by studying a sample of self-tender offers, events often viewed as signals
of firm value. By examining changes in the degree of informed trading, we find asymmetric information costs fall at announcement,
remain low throughout the event, and increase at offer expiration. By 1 month following expiration, informed trading returns
to a level not significantly different from that prior to the offer. Higher risk firms have significantly larger declines
in information asymmetry during the offer. Increases in information asymmetry persist 1 month following expiration for firms
with lower pre-offer informed trading.
相似文献
Judith SwisherEmail: |
18.
Patrick M. Bernet Michael D. Rosko Vivian G. Valdmanis Anatoly Pilyavsky William E. Aaronson 《Journal of Productivity Analysis》2008,29(2):103-111
Ukraine’s recent elections revealed deep divisions between eastern regions, which favored central economic planning, and western
regions, which preferred more free market reforms. This study compares polyclinics in Ukraine to see if the inflexibility
of Soviet-style planned economies results in lower economic efficiency in eastern regions. Using data from two geopolitical
regions, Data Envelopment Analysis (DEA) scores for polyclinic efficiencies are modeled as a function of demographic and economic
determinants. Surprisingly, results indicate that polyclinics in western Ukraine are less efficient. Possible explanations,
including case mix intensity, responsiveness to local preferences, physician entrepreneurial behavior and a legacy of inequitable
funding, are discussed.
相似文献
Vivian G. ValdmanisEmail: |
19.
Efficient frontier estimation: a maximum entropy approach 总被引:1,自引:0,他引:1
An alternative efficiency estimation approach is developed utilizing generalized maximum entropy (GME). GME combines the strengths
of both SFA and DEA, allowing for the estimation of a frontier that is stochastic, without making an ad hoc assumption about
the distribution of the efficiency component. GME results approach SFA results as the one-sided inefficiency bounds used by
GME shrink. Results similar to DEA are achieved as the bounds increase. The GME results are distributed like DEA, but yield
virtually the same rankings as SFA. The results suggest that GME may provide a link between various estimators of efficiency.
相似文献
Jon RezekEmail: |
20.
Measuring performance in the presence of stochastic demand for hospital services: an analysis of Belgian general care hospitals 总被引:1,自引:1,他引:0
Mike Smet 《Journal of Productivity Analysis》2007,27(1):13-29
Since demand for hospital services is subject to substantial variability, the relationship between uncertain demand, excess
capacity, hospital costs and performance should be investigated thoroughly. In this paper a waiting time indicator to proxy
hospital standby capacity is incorporated into a multi-product translog cost function for Belgian general care hospitals.
The indicator is derived from queuing theory and improves on the conventionally used (inverse of the) occupancy rate. The
multi-product stochastic frontier specification allows calculation of cost elasticities and marginal cost of seven hospital
departments, as well as the degree of economies of scale and scope and enables identification of differences in efficiency.
相似文献
Mike SmetEmail: |