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.     

New evidence on the efficiency of Italian airports: A bootstrapped DEA analysis

A bootstrapped DEA procedure is used to estimate technical efficiency of 18 Italian airports during the period 2000-2004. Departing from previous studies, we separate the efficiency related to ability to manage airside activities (operational) from that related to the management of all business activities (financial). In general, Italian airports operate at poor levels of efficiency, with slightly better performance in terms of their financial activities. In the current study, selected intrinsic and environmental characteristics are considered as possible drivers of Italian airport performance. In particular, we found that: (i) the airport dimension does not allows for operational efficiency advantages, (ii) on the other hand, the airport dimension allows for financial efficiency advantages for the case of hubs and disadvantages for the case of the smallest airports (iii) the type(s) of concession agreement(s) might be considered as important source of technical efficiency differentials for those airports running marginal commercial activities; (iv) the introduction of a dual-till price cap regulation might create incentives which lead to the increase of financial efficiency at the detriment of the operational performance. Lastly, the development of a second hub (Milano Malpensa), has negatively affected the performance of the country’s national hub (Roma Fiumicino).     

The impact of prudential toolkits on loan growth in Central and Eastern European banking systems

This paper examines the effects of prudential policy on loan growth in 11 Central and Eastern European banking systems, spanning the period from 2000 to 2015. Based on the measures taken by the authorities of our sample countries, we build several prudential indices. Additionally, we control for the effects of several country-specific factors and bank-specific characteristics. Finally, we test the homogeneity of these effects, accounting for cycle, ownership, and bank effects. Generally, the empirical findings reveal a negative correlation between prudential toolkits and credit growth, with a conspicuous impact for tools targeting lending activity. We see that the effects of a change in the lending framework on loan growth are heterogeneous when we account for crisis and cycle patterns. Furthermore, the interaction between ownership and crisis reveals that, in normal times, foreign banks recorded higher loan growth compared to domestic banks. The opposite is true in turbulent times. The analysis of interactions between credit-based measures and bank-specific variables show that the effects of prudential actions depend on the bank size and leverage.     

基于DEA的福建港口效率评价分析

港口作为福建省的重要战略资源,对福建省的经济发展有着至关重要的作用。作者利用DEA-CCR模型对福建省4个主要沿海港口——福州港、厦门港、泉州港、莆田港的相关港口指标（2008年）进行分析,计算出各港口的综合效率、纯技术效率和规模效率,以此判断港口当前的有效性,并分析无效港口的问题所在,在此基础上提出改进建议。     

基于DEA的全国31个省市财政科技支出效率测评

财政科技支出效率建立了一个科学且切实可行的评价体系,利用DEA模型,结合2006年全国31个省市财政科技支出的实例,对财政科支出效率进行分析。     

Efficiency evaluation of the regional high-tech industry in China: A new framework based on meta-frontier dynamic DEA analysis

This paper proposes a new framework based on the combination of the dynamic DEA, meta-frontier analysis theory, and truncated regression model, and then focuses on the efficiency evaluation of regional high-tech industries in China. For all of the overall technical efficiency, technical efficiency, and scale efficiency scores, the east area is always in the lead, with the central and west areas obviously lagging behind. The eastern area has the highest technology level, whereas the west and central areas fall behind in turn. However, the meta-technology ratio of the west area has rapidly increased and presents a trend of catching up with the east. The variables of GRP per capital, total exports and imports, highway mileage per capita, and ratio of tertiary industry to GRP have positive relationships with technical efficiency, and the time trend exhibits a negative coefficient.     

经济发展水平与科普资源投入产出效率的关系研究 ——基于三阶段DEA模型

双循环新发展格局对我国创新提出了更高的要求.创新发展一方面需要科技创新,另一方面也少不了科学普及,中央强调科学普及与科技创新同等地位.基于三阶段DEA模型,对2008—2015年31个省市、自治区科普投入产出效率进行研究,按照经济发展情况把全国划分为三个区域.研究发现:我国科普投入产出技术效率的上升和规模效率的波动影响...     

我国科技投入效率的省际比较分析

文章运用DEA方法,对我国31个省市科技产出的截面数据进行了实证分析,针对经典DEA模型存在的缺陷,采用四阶段DEA结合Tobit回归的方法,剔除了外生环境变量的影响,衡量和评价了各地区的科技投入效率。结果表明:环境因素对科技投入效率影响显著,经典DEA方法得出的科技投入效率被明显高估;排除环境变量后,绝大部分省市的规模无效率是由于科技投入不足造成的。     

基于DEA方法的农村信用社服务“三农”效率分析——以陕西省农村信用社为例

从陕西省涉农地区农村信用社服务"三农"的深度、广度及服务"三农"的正外部性入手,使用DEA方法评价陕西省涉农地区农村信用社服务"三农"效率,并从股权结构、法人治理两个方面分析了影响陕西省农村信用社服务"三农"效率的主要因素。认为陕西省涉农地区大部分信用社在为"三农"服务方面的纯技术效率相对较好,规模效率较差。     

The impact of oil prices and the financial market on cost efficiency in the insurance and Takaful sectors: Evidence from a stochastic frontier analysis

The Gulf Cooperation Council’s (GCC) insurance industry, including conventional insurance and Takaful, has witnessed remarkable growth during the last decade. However, the economies of this region rely on oil as the primary stream of revenue and lack development in financial markets. This could affect the insurance industry. For this reason, this paper examines the impact of oil prices and the financial market on the cost efficiency of the insurance and Takaful sectors in GCC countries using a stochastic frontier cost function with data from 2009–2016. The results show that the relationship between oil prices and efficiency changes from positive to negative when the prices increase, whereas the relationship between the financial market and efficiency is negative. No clear evidence of the impact of oil prices on efficiency arises from the differences between conventional insurance and Takaful. However, there are differences regarding the financial market, with a negative impact on conventional insurance and a positive one on the Takaful business. The results of this study have implications for regulators and management. The Takaful industry is rapidly growing compared to conventional insurance in the GCC and, therefore, the financial market may have added benefits for the GCC region. However, caution is required in relation to the impact of the financial market on conventional insurance. Furthermore, management may require the development of strategies to deal with the nature of GCC economies to avoid shocks to oil prices.     

民营企业并购国有企业的企业文化融合影响要素研究——东方希望集团并购蓬威石化案例分析

由于民营企业与国有企业之间的文化差异,文化融合成为影响企业并购成功与否的关键.本文以民营企业并购国有企业后的企业文化冲突为切入点,通过对民营企业和国有企业文化的特征识别,剖析二者融合后企业文化存在的关键问题,识别出民营企业并购国有企业后影响企业文化融合的关键要素为文化特质、领导行为与员工行为.并以东方希望集团为案例,通过对东方希望集团并购莲威石化后产生的一系列企业文化冲突进行分析,揭示这些要素对企业文化融合的作用机理,为提升民营企业并购国有企业的文化融合提供参考和借鉴.     

出砂强敏感稠油油藏低效水驱转热采政策界限研究——以林东馆三段稠油油藏为例

林樊家油田林东馆三段地质条件复杂,地层敏感性强,供液差,产能低,油稠,出砂严重,多年来采用了各种工艺措施,均未取得好的水驱开采效果。文章运用数值模拟手段,分析了低水驱的主要原因和论证了低效水驱转蒸汽热采可行性。在此基础上,研究了该块低效水驱转蒸汽热采的开发经济技术政策界限。开发实践表明,低效水驱稠油油藏通过转热采可大幅提高采收率,同时研究成果对同类油藏的开发具有重要指导意义。