Sustainability evaluation of rapid routes for buses with a network DEA model

This study establishes a network data envelopment analysis (DEA) model to evaluate the sustainability of public transportation services targeting rapid routes for buses in the Seoul metropolitan area. A network DEA-based optimization model is formulated to evaluate the sustainability of the public transportation service. By considering public transportation services from both the operators’ and users’ perspectives, this model produces results that reflect the interaction of three sustainable transport service properties, i.e., efficiency, equity, and environmental impacts. It is identified that the expansion of median bus lanes and the conversion of conventional buses into compressed natural gas vehicles could improve the sustainability of the public transportation services in the Seoul metropolitan area. Some limitations and future research agenda also are presented.     

Do Domestic Investors Have an Edge? The Trading Experience of Foreign Investors in Korea

We investigate whether domestic investors have an edge overforeign investors in trading domestic stocks. Using Korean data,we show that foreign money managers pay more than domestic moneymanagers when they buy and receive less when they sell for mediumand large trades. The sample average daily trade-weighted disadvantageof foreign money managers is 21 basis points for purchases and16 basis points for sales. There is also some evidence thatdomestic individual investors have an edge over foreign investors.The explanation for these results is that prices move more againstforeign investors than against domestic investors before trades.