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1.
Robert G. Chambers 《Journal of Productivity Analysis》2008,30(2):107-120
Stochastic productivity indicators are defined, and superlative measures of these indicators are derived. It is shown that,
in the presence of complete markets or a common-expectations equilibrium, differences in the market values of firms are superlative
indicators of cross-sectional productivity differences. Exactness results are used to decompose nonstochastic productivity
indicators into a measure of true productivity change and a measure of ‘luck’. The decomposition is illustrated empirically.
相似文献
Robert G. ChambersEmail: |
2.
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: |
3.
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: |
4.
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: |
5.
Thijs ten Raa 《Journal of Productivity Analysis》2008,30(3):191-199
Debreu’s coefficient of resource utilization is freed from individual data requirements. The procedure is shown to be equivalent
to the imposition of Leontief preferences. The rate of growth of the modified Debreu coefficient and the Solow residual are
shown to add up to TFP growth. This decomposition is the neoclassical counterpart to the frontier analytic decomposition of
productivity growth into technical change and efficiency change. The terms can now be broken down by sector as well as by
factor input.
相似文献
Thijs ten RaaEmail: |
6.
Externalities, efficiency, regulation, and productivity growth in the U.S. electric utility industry 总被引:1,自引:1,他引:0
Gerald Granderson 《Journal of Productivity Analysis》2006,26(3):269-287
This paper examines the decomposition of total factor productivity growth for firms subject to regulation, given the production of a bad output. The production of good and bad outputs provides benefits and costs to society. Corporate socially responsible firms recognize the cost to society of producing the bad output. The paper separates the production technology and regulation effects from both the scale and technical change components. The paper also examines the measurement and decomposition of productivity growth when not accounting for production of the bad output. Using a 1992–2000 panel of 34 U.S. investor-owned electric utilities, results indicate that improvements in the scale, efficiency change, and technical change components contributed to positive growth. Not accounting for production of the bad output led to, on average, an overestimation of both the rate of productivity growth, and the contributions of scale economies and technical change to changes in productivity growth.
相似文献
Gerald GrandersonEmail: |
7.
Efficiency analysis of East European electricity distribution in transition: legacy of the past? 总被引:1,自引:0,他引:1
This paper provides a cross-country efficiency analysis of electricity distribution companies in the East European transition
countries of Poland, the Czech Republic, Slovakia and Hungary. We use common nonparametric efficiency measurement such as
Data Envelopment Analysis (DEA) and Free Disposal Hull (FDH) under different assumptions and apply recent developments of
statistical inference in nonparametric frontier models to test our hypotheses. We discuss the empirical problems of cross-country
benchmarking approaches, in particular the comparability of different structures of electricity distribution companies. Our
results suggest that Poland’s distribution companies are still inefficiently small; the Czech Republic features the highest
efficiency; and Slovakia and Hungary occupy the middle range. We also note that privatization has had a positive effect on
technical efficiency in the four countries. We use the phrase “legacy of the past” to describe the four countries in comparison
to the efficiency of electricity distribution companies we studied in Germany.
相似文献
Christian von HirschhausenEmail: |
8.
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: |
9.
An examination of the performance and prospects for the future of internet-primary banks 总被引:1,自引:0,他引:1
We study Internet-primary banks for differences in performance versus newly chartered traditional banks from 1996 through
2003. Internet-primary banks are larger, with lower net interest margins and loan losses, and higher wage and physical capital
rates than newly chartered traditional banks. Univariate ROE is lower, but profit efficiency is significantly higher on average
for Internet-primary banks compared to all newly chartered banks as well as those that survive through the sample period.
In multivariate models, Internet-primary banks continue to have significantly higher average profit efficiency, and particularly
so when of sufficient size.
相似文献
Ross DickensEmail: |
10.
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: |
11.
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: |
12.
The study analyses technical efficiency and efficiency change of 193 community hospitals and polyclinics across Ukraine, for
the years 1997–2001. These facilities are a subset of the medical institutions in rural Ukraine; they are identical w.r.t.
their function in the health system and share the same departmental structure. The data comprise the number of beds in the
hospitals, the number of staff employed in the hospitals as well as the polyclinics connected to the hospitals, the number
of inpatient and outpatient admissions as well as the number of surgical procedures, lab tests, X-rays performed and the number
of deaths and deaths after surgery. Because of the known sensitivity of traditional nonparametric frontier estimators to outlier
observations, we employ an order-m estimator, a robust technique, to assess the efficiency of these health care providers as well as changes of their productivity
time. The efficiency scores are calculated with an output-oriented model; they are close to unity for hospitals whereas polyclinics
seem somewhat less efficient. The Malmquist-indices averaged over all observations are close to unity indicating that productivity
does not change over during our observation period. But, depending on the period and the region, substantial deviations from
unity can be observed.
相似文献
Matthias StaatEmail: |
13.
Victor V. Podinovski 《Journal of Productivity Analysis》2009,32(1):21-26
The assumption of full proportionality is incorporated in the constant returns-to-scale (CRS) technology and allows for proportional
scaling of inputs and outputs of production units. The assumption of selective proportionality was recently incorporated in
the hybrid returns-to-scale (HRS) technology in which only a subset of outputs is proportional to a subset of inputs. In this
paper we develop a production technology that exhibits both the full and selective proportionality at the same time. Real
examples of such technology are pointed out. Subject to certain conditions, the DEA models based on this technology provide
better discrimination than the CRS and HRS models.
相似文献
Victor V. PodinovskiEmail: |
14.
This study examines economic performance, environmental performance, and regulatory activity for plants in three industries: pulp and paper, oil, and steel. Stochastic frontier production function models show significant deviations from production efficiency. Older plants are less efficient in production, but perform no worse on emissions. Plants spending more on pollution abatement tend to do worse on both production efficiency and emissions. Stricter local regulatory pressure is associated with somewhat lower emissions, but has mixed effects on production efficiency. Positive correlations between SUR residuals for emissions and production efficiency suggest unmeasured plant-level characteristics that drive both economic and environmental performance.
相似文献
Wayne B. GrayEmail: Phone: +1-508-793-7693 |
15.
Joan-Lluis Capelleras Rodrigo Rabetino 《The International Entrepreneurship and Management Journal》2008,4(1):79-99
New ventures are increasingly playing an important role in Latin American economies. However, little is known about the determinants
of new firm growth in this context. The purpose of this study is to gain an understanding of the factors influencing new firm
growth in Argentina, Brazil, Mexico and Peru. Individual, organizational and environmental factors are included in an empirical
model, which is tested using data collected by face-to-face interviews with 582 entrepreneurs. Different specifications of
employment growth and regression approaches are employed. Results suggest that growth strongly depends on the characteristics
of the entrepreneur. National environment and firm-related factors are also important factors in determining growth.
相似文献
Rodrigo RabetinoEmail: |
16.
In this paper we argue that the standard approach for measuring output and productivity in the trade sector has become obsolete.
The key problem is that changes in prices of goods purchased for resale are not accounted for. We outline a consistent accounting
framework for measuring trade productivity and provide new estimates, taking into account purchase prices of goods sold in
a double deflation procedure. We find strong productivity improvements in the UK and US compared to France, Germany and The
Netherlands since the mid-1990s. This finding is robust for various productivity measurement models.
相似文献
Marcel P. TimmerEmail: |
17.
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: |
18.
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: |
19.
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: |
20.
This paper considers the measurement of performance in public service provision in an international context by examining outcome-based
measures for the education sector. It first sets out the measurement issues in general terms. The paper then applies these
methods to comparing the UK experience with that in the US over the period 1979–2002. The results show higher labour productivity
growth in the UK education sector than in the US over this time period, so that the UK eliminated the productivity gap with
the US by the end of the Century.
相似文献
Mary O’MahonyEmail: |