Measuring technical efficiency in European railways: A panel data approach

We estimate a factor requirement frontier for European railways using a panel data approach in which technical efficiency is assumed to be endogeneously determined. This approach has two main outcomes. On one hand, it allows the identification of factors influencing technical efficiency, and on the other hand, it allows the estimation of alternative efficiency indicators free of these influences. In the case under study, a particular attention is devoted to an autonomy indicator representing the managerial freedom, with respect to public authorities, experienced by firms, that appears to be positively correlated with technical efficiency.     

A cost efficiency analysis of the insurance industry in Mexico

In Mexico, the low participation of insurance activity in national production, in contrast to similar Latin American economies, is a concern. Industry’s regulator promoted more intense competition at the dawn of the century. Was deregulation followed by improvements in the financial and economic performance of Mexican insurance firms? The purpose of this paper is to answer this question through a comprehensive analysis of cost variations in an intertemporal manner, by breaking them down into the economic sources that produce them, including productivity. Cost frontier estimation was grounded in a joint production technology of desirable and undesirable outputs, modeled in an input-oriented fashion. Our results demonstrate that even though some companies achieved cost reductions from technological progress or improvements in efficiency, the Mexican insurance market does not show signs of significant productivity gains.     

Profit efficiency in the European Union banking industry: a directional technology distance function approach

We employ the directional technology distance function approach and present estimates of profit efficiency in the 25 European Union (EU) member states over the period 1998–2008. This method decomposes profit efficiency into its technical and allocative components. We investigate potential efficiency differences across the old EU region and the new EU member states, across countries and across banks of different size. Our results indicate a significant level of profit inefficiency for the EU region, which is predominantly attributed to allocative inefficiency. Our findings also suggest that banks operating in the old EU region are, on average, more profit efficient than credit institutions in the new EU member states. Overall, we observe considerable variation of efficiency scores across countries and different patterns in efficiency change over time, as well as a negative relationship between bank size and efficiency.     

The cotton weaving industry in European countries: Size of firm,static and dynamic efficiency

This paper is based on the results of a field work analysis of the cotton weaving industry, focusing on the relationships between performance, size and structure of firms. The results are utilized to compare models of the industries in the main European countries and to evaluate their competitiveness in the light of both standard and some non-standard efficiency criteria.     

Estimating banking cost efficiency with the consideration of cost management

This study re-investigates the bank cost efficiency by a combination of two strands of literature. The first strand is related to bank cost efficiency; the other is related to earnings management. Employing the findings reported in bank earnings management literature, this study argues that bank observed total cost (“accounting cost”) may be the biased estimator of the true total cost. Using the biased total cost may thus yield incorrect inferences from estimating bank cost efficiency. We propose a method to modify accounting cost, which is referred to as “economic cost”, to be consistent with the economic theory; that is, one that is free of cost management. Both accounting and economic costs are then adopted to analyze the efficiency of 29 commercial banks in Taiwan banking industry. Our results show that estimated efficiency, with the application of economic cost, offers results that are more reasonable results than those of the accounting cost.     

Regulation and technological change in the American meat industry

The effects of regulation upon technological change in the American meat industry in the period between 1950 and 1978 are examined in terms of the relationship between three alternative models — neoclassical, X-efficiency, and technological exogeneity —and the behavior of regulatory agencies. The paper is based upon patent data, equipment approvals by the United States Department of Agriculture and interviews with meat equipment and meat processing firms. Each theory was found to account for some of the observed transactions between regulation and technological change. Conversely, no single theory encompasses all observed effects.Regulations have added to the cost of developing new products. Increased uncertainty in the late 1970s over the standards sought by regulatory agencies have similarly increased the uncertainties of the profitability of R&D in selected product lines. This uncertainty was also found to be inducing firms to substitute product development via mergers for their own R&D. The Humane Slaughter Act was the proximate spur for technological advances that lead to a rationalization of production processes. The innovations that resulted from this act and from other regulatory standards highlighted, in accordance with the X-efficiency framework, technological opportunities that existed prior to and independent of changes in regulatory standards. Much of the momentum for technological change in the industry was shaped by an initial set of technological advances and the subsequent working through of production bottlenecks in an interrelated production system. These advances were largely independent of and unaffected by regulatory standards.Indeed, there is reason to believe that regulatory standards may themselves have an element of endogeneity in terms of the feasible set of best practice techniques. Thus at any particular time, technological change may serve to generate a production frontier towards which a regulatory agency might seem to propel an industry.Overall, our judgment is that regulation had little discernible impact on the pace of technological change related to the production and distribution of ground beef in the period between 1950 and 1978. If there has been any net effect, regulation probably served more to stimulate than to inhibit technological change.     

An examination of the cost efficiency of banks in Taiwan and China using the metafrontier cost function

Using the stochastic metafrontier framework of Battese et al. (J Prod Anal 21:91–103, 2004), this study proposes to compare and measure the cost efficiency and cost frontier gap between the banking industry in Taiwan and China. It further identifies environmental variables that determine bank’s cost frontier gap between two countries. Data on 69 sample banks for years 2005–2009 are used in the empirical analysis and inference. The empirical results show that Taiwanese banks have in general the superior cost frontier of production, but inferior cost efficiency of operation than Chinese banks. Private banks in Taiwan have the best cost frontier, whereas foreign banks in China are most cost efficient among all banks in Taiwan and China. The empirical results also reveal that the majority of Taiwanese banks are undersized and that most banks in China are oversized. Finally, the regression results show that the financial market structure, institutional environment, and political development are significant determinants of the cost gap between the cost frontiers of banks in Taiwan and China. Therefore, programs related to changes directed toward a better bank production environment can be initiated to improve the cost technologies of banks in both Taiwan and China.     

Regulation of Labour Markets in the European Union

EU regulation of labour markets under the Social Charter and Protocol to improve 'employment rights' may appear loudable but can prove costly for firms. Mandates will probably make the unskilled more difficult to employ.     

陈虹:应有效实施排放控制法规

在地球之上的中国,有一群造车的"大象",以踏实和坚韧向全球市场冲击。勇往无前是中国造车人的执著,"大象"的驱动为和牵引力,更是驱动整个汽车产业前行的动力。大象起舞,就是振兴民族工业的梦想,更是中国汽车选车人翘首的自信。     

The impact of firm membership in an Independent System Operator (ISO) on production cost and cost efficiency in the generation sector of the U.S. electric utility industry

This paper examines how ISO membership impacts cost efficiency. Utilities joining ISOs can face more competition in selling electric power, possibly leading to lower profits, which can incentivize utilities to operate more cost efficiently to maintain a specified level of profits. The empirical model involves estimating a Probit model, then OLS regression, then a stochastic cost frontier. Using a 1992 to 2000 panel of 34 investor‐owned electric utilities, empirical results indicate that ISO membership contributed to higher production cost, lower cost efficiency, and ISO members subject to the 1990 Clean Air Act Amendments operated more cost efficiently than ISO members not subject to the Amendments.     

执政经济成本的效益测评

执政是要支付成本的。执政经济成本的高低与执政的业绩有很大联系。“提高执政效率”是党的十六届四中全会《决定》中的一个重要思想。要提高执政效率,就必须考察执政的成本与效益之间的关系,开展对执政的经济成本效益及其测评方法的研究。     

Safety management challenges and tensions in the European nuclear power industry

This paper provides an analysis of major management challenges and tensions within the European nuclear power industry in the context of safety. The results show that human resource management, organisational climate and culture, and public confidence and trust are the three most challenging areas for nuclear managers across Europe. Managerial tensions typically relate to the setting of priorities and maintaining focus, and to the need to find a balance between diverging demands and expectations, such as perceived conflicts between economy- and safety-related objectives. Overall, the results suggest that nuclear managers need and use complex models for structuring their realities and that the safety of a nuclear power plant cannot be managed independently of the other goals of the plant organisation.     

烟草行业工艺质量管理与生产成本控制关系浅析

控制成本不能忽视质量,在进行产品质量管理的同时,把消耗降到最低点,才能为企业创造更好的效益。在明确了两者的关系后,文章指出保证质量、降低消耗、合理控制生产成本就成为企业生存发展至关重要的保障。     

European industry: the emerging market competitiveness challenge

As the global economy has become increasingly open to 'free' trade, European industry ‐ and, indeed, industry across the developed world ‐ has found itself faced with growing competition from low cost, emerging market countries. How is it facing up to this stiff challenge? Newspaper headlines may suggest that effort has been focused on raising trade barriers to keep competition at bay. However, such actions are a thin veneer over the very real, structural changes that are rapidly taking place. This article, by Grant Colquhoun, examines the changing structure of the EU15's trading patterns and the differential impact across manufacturing sectors. It then analyses the steps industry is taking to cope with the competitiveness challenge. As well as attempting to squeeze costs, it is clear that industry in Europe is restructuring in order to focus on higher value added activities, where it typically has a competitive advantage over emerging markets.     

Liberalisation of Utilities and Evolving European Regulation

In this article, David Coen and Chris Doyle provide an overview of recent liberalisation and regulatory developments affecting key utility sectors (electricity, gas, postal service, and telecommunications) in the European Union. They examine what kind of competition is suitable in the utilities, and discuss obstacles that lie in the path of competition. They address in detail the institutional design of sector specific regulation. National and supra-national regulatory structures are analysed and these are illustrated by examples drawn from several European countries. In institutional terms, they argue that it is important regulatory regimes have a high degree of flexibilityand speed to allow for the continued evolution of the EU utility sector.     

关注客户的运营成本和效率——访林德(中国)市场策略部总监郑盛泉

作为物料搬运界的引领者，林德以其先进的技术理念和全方位的服务引领着物流事业的发展。林德（中国）叉车有限公司于1993年成立，总投资17亿人民币，占地面积22万平方米，可以提供全系列的平衡重及仓储等叉车、最优化的物料搬运综合解决方案及物流方案设计及咨询、专业的全方位的服务等，销售网络覆盖全国80多个城市。     

高效电动机在化工生产中的应用

文章以江西海利贵溪公司7000t/a高纯度甲萘威原药生产装置为例,对高效电动机的应用进行技术经济分析,说明高效电动机在化工生产中应用的重要意义。     

Vicarious warfare and dynamic efficiency of companies in the aerospace and defence industry

This study explores the economic performance that vicarious warfare can bring for the aerospace and defence industry. First, this study measures the performance of 22 companies using a nonradial dynamic data envelopment analysis model from 2011 to 2017. Second, this study evaluates whether vicarious warfare can influence the performance. The efficiency analysis suggests rooms for improvements meanwhile, the projection analysis suggests that market value should be significantly increased, and the number of employees should be reduced significantly. The regression analysis suggests that the number of times a country takes a side in wars would positively affect the efficiency of companies.     

关于工业制造企业成本会计实务工作的基本思路

工业制造企业的生产规模和资本总和不断扩大,制造成本控制和预测成为关注的焦点问题。文章从工业制造企业制造管理问题出发,结合成本会计的定义和工作内容,提出成本会计在工业制造企业成本管理中的实务工作。