Subjects -> BUSINESS AND ECONOMICS (Total: 3570 journals)
    - ACCOUNTING (132 journals)
    - BANKING AND FINANCE (306 journals)
    - BUSINESS AND ECONOMICS (1248 journals)
    - CONSUMER EDUCATION AND PROTECTION (20 journals)
    - COOPERATIVES (4 journals)
    - ECONOMIC SCIENCES: GENERAL (212 journals)
    - ECONOMIC SYSTEMS, THEORIES AND HISTORY (235 journals)
    - FASHION AND CONSUMER TRENDS (20 journals)
    - HUMAN RESOURCES (103 journals)
    - INSURANCE (26 journals)
    - INTERNATIONAL COMMERCE (145 journals)
    - INTERNATIONAL DEVELOPMENT AND AID (103 journals)
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    - LABOR AND INDUSTRIAL RELATIONS (61 journals)
    - MACROECONOMICS (17 journals)
    - MANAGEMENT (595 journals)
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    - MICROECONOMICS (23 journals)
    - PRODUCTION OF GOODS AND SERVICES (143 journals)
    - PUBLIC FINANCE, TAXATION (37 journals)
    - TRADE AND INDUSTRIAL DIRECTORIES (2 journals)

BUSINESS AND ECONOMICS (1248 journals)            First | 1 2 3 4 5 6 7 | Last

Showing 601 - 800 of 1566 Journals sorted alphabetically
Investigación Administrativa     Open Access  
IPPR Progressive Review     Hybrid Journal  
Issues in Economics and Business     Open Access  
IZA Journal of Labor Economics     Open Access   (Followers: 17)
J : Multidisciplinary Scientific Journal     Open Access  
Jahrbuch für Regionalwissenschaft     Hybrid Journal  
Jàmbá : Journal of Disaster Risk Studies     Open Access   (Followers: 3)
Japan and the World Economy     Hybrid Journal   (Followers: 5)
Japanese Economic Review     Hybrid Journal   (Followers: 2)
Jindal Journal of Business Research     Full-text available via subscription  
Journal cover Sustainability Management Forum / NachhaltigkeitsManagementForum     Hybrid Journal  
Journal for Art Market Studies     Open Access   (Followers: 1)
Journal for Global Business Advancement     Hybrid Journal  
Journal for International Business and Entrepreneurship Development     Hybrid Journal   (Followers: 8)
Journal of Accounting & Organizational Change     Hybrid Journal   (Followers: 3)
Journal of Accounting and Economics     Hybrid Journal   (Followers: 44)
Journal of Adult Development     Hybrid Journal   (Followers: 6)
Journal of African Business     Hybrid Journal   (Followers: 1)
Journal of African Economies     Hybrid Journal   (Followers: 19)
Journal of Aggression Maltreatment & Trauma     Hybrid Journal   (Followers: 5)
Journal of Aging & Social Policy     Hybrid Journal   (Followers: 11)
Journal of Aging Studies     Hybrid Journal   (Followers: 13)
Journal of Agricultural Economics     Hybrid Journal   (Followers: 31)
Journal of Agronomy     Open Access   (Followers: 7)
Journal of Applied and Industrial Mathematics     Hybrid Journal  
Journal of Applied Business Research     Open Access   (Followers: 3)
Journal of Applied Corporate Finance     Hybrid Journal   (Followers: 18)
Journal of Applied Econometrics     Hybrid Journal   (Followers: 55)
Journal of Applied Economics     Open Access   (Followers: 13)
Journal of ASEAN Studies     Open Access   (Followers: 1)
Journal of Asia Business Studies     Hybrid Journal   (Followers: 1)
Journal of Asia-Pacific Business     Hybrid Journal  
Journal of Asian Economics     Hybrid Journal   (Followers: 3)
Journal of Banking & Finance     Hybrid Journal   (Followers: 173)
Journal of Banking Regulation     Hybrid Journal   (Followers: 27)
Journal of Behavioral and Experimental Finance     Full-text available via subscription   (Followers: 5)
Journal of Behavioral Decision Making     Hybrid Journal   (Followers: 22)
Journal of Behavioral Finance     Hybrid Journal   (Followers: 15)
Journal of Behavioural Economics and Social Systems     Open Access   (Followers: 2)
Journal of Bioeconomics     Hybrid Journal  
Journal of Business     Open Access   (Followers: 1)
Journal of Business     Open Access  
Journal of Business & Economic Statistics     Full-text available via subscription   (Followers: 38)
Journal of Business & Economics Research     Open Access   (Followers: 2)
Journal of Business & Financial Affairs     Open Access  
Journal of Business & Technology Law     Open Access   (Followers: 2)
Journal of Business Administration : The Association of Private Higher Education Institutions of Thailand     Open Access  
Journal of Business Administration and Social Sciences Ramkhamhaeng University     Open Access  
Journal of Business Administration Research     Open Access  
Journal of Business Analytics     Hybrid Journal  
Journal of Business and Behavioural Entrepreneurship     Open Access   (Followers: 1)
Journal of Business and Finance     Open Access   (Followers: 2)
Journal of Business and Management     Open Access   (Followers: 1)
Journal of Business and Management Research     Open Access   (Followers: 1)
Journal of Business and Management Sciences     Open Access  
Journal of Business and Management Studies     Open Access  
Journal of Business and Psychology     Hybrid Journal   (Followers: 13)
Journal of Business and Social Review in Emerging Economies     Open Access  
Journal of Business and Social Sciences     Open Access  
Journal of Business and Social Sciences Research     Open Access  
Journal of Business and Technical Communication     Hybrid Journal   (Followers: 7)
Journal of Business and Technology (Dhaka)     Open Access  
Journal of Business Case Studies     Open Access   (Followers: 2)
Journal of Business Continuity & Emergency Planning     Full-text available via subscription   (Followers: 24)
Journal of Business Cycle Research     Hybrid Journal  
Journal of Business Economics     Hybrid Journal   (Followers: 6)
Journal of Business Economics and Finance     Open Access   (Followers: 3)
Journal of Business Economics and Management     Open Access   (Followers: 2)
Journal of Business Ethics     Hybrid Journal   (Followers: 56)
Journal of Business Ethics Education     Full-text available via subscription   (Followers: 4)
Journal of Business in The Digital Age     Open Access  
Journal of Business Research     Hybrid Journal   (Followers: 22)
Journal of Business Strategy     Hybrid Journal   (Followers: 7)
Journal of Business Studies     Open Access  
Journal of Business Studies Quarterly     Open Access  
Journal of Business Thought     Full-text available via subscription  
Journal of Business Venturing Insights     Hybrid Journal   (Followers: 7)
Journal of Centrum Cathedra     Open Access  
Journal of Chinese Economic and Business Studies     Hybrid Journal  
Journal of Choice Modelling     Hybrid Journal   (Followers: 2)
Journal of Cognition and Development     Hybrid Journal   (Followers: 5)
Journal of Commodity Markets     Full-text available via subscription   (Followers: 1)
Journal of Comparative Asian Development     Hybrid Journal   (Followers: 1)
Journal of Comparative Economics     Hybrid Journal   (Followers: 13)
Journal of Competition Law and Economics     Hybrid Journal   (Followers: 34)
Journal of Consumer Behaviour     Hybrid Journal   (Followers: 26)
Journal of Consumer Policy     Hybrid Journal   (Followers: 13)
Journal of Consumer Research     Full-text available via subscription   (Followers: 49)
Journal of Contemporary European Research     Open Access   (Followers: 16)
Journal of Corporate Finance     Hybrid Journal   (Followers: 42)
Journal of Creating Value     Full-text available via subscription  
Journal of Cultural Economics     Hybrid Journal   (Followers: 2)
Journal of Cultural Economy     Hybrid Journal   (Followers: 8)
Journal of Customer Behaviour     Full-text available via subscription   (Followers: 4)
Journal of Data and Information Science     Open Access   (Followers: 4)
Journal of Derivatives & Hedge Funds     Hybrid Journal   (Followers: 6)
Journal of Design, Business & Society     Hybrid Journal   (Followers: 1)
Journal of Developing Areas     Full-text available via subscription   (Followers: 5)
Journal of Development Economics     Hybrid Journal   (Followers: 115)
Journal of Development Policy and Practice     Hybrid Journal   (Followers: 3)
Journal of Development Studies     Hybrid Journal   (Followers: 51)
Journal of Developmental Entrepreneurship     Hybrid Journal   (Followers: 5)
Journal of East-West Business     Hybrid Journal  
Journal of Eastern European and Central Asian Research     Open Access   (Followers: 4)
Journal of Econometrics     Hybrid Journal   (Followers: 82)
Journal of Economic & Financial Studies     Open Access   (Followers: 3)
Journal of Economic & Social Policy     Full-text available via subscription   (Followers: 11)
Journal of Economic Behavior & Organization     Hybrid Journal   (Followers: 48)
Journal of Economic Development, Environment and People     Open Access   (Followers: 11)
Journal of Economic Dynamics and Control     Hybrid Journal   (Followers: 44)
Journal of Economic Geography     Hybrid Journal   (Followers: 28)
Journal of Economic Growth     Hybrid Journal   (Followers: 36)
Journal of Economic Inequality     Hybrid Journal   (Followers: 21)
Journal of Economic Integration     Full-text available via subscription   (Followers: 4)
Journal of Economic Interaction and Coordination     Hybrid Journal  
Journal of Economic Methodology     Hybrid Journal   (Followers: 3)
Journal of Economic Policy Reform     Hybrid Journal   (Followers: 5)
Journal of Economic Psychology     Hybrid Journal   (Followers: 20)
Journal of Economic Structures     Open Access  
Journal of Economic Studies     Hybrid Journal   (Followers: 5)
Journal of Economic Surveys     Hybrid Journal   (Followers: 23)
Journal of Economics     Hybrid Journal   (Followers: 16)
Journal of Economics & Management Strategy     Hybrid Journal   (Followers: 10)
Journal of Economics and Business     Hybrid Journal   (Followers: 15)
Journal of Economics and Financial Analysis     Open Access   (Followers: 3)
Journal of Economics and Management Sciences     Open Access  
Journal of Economics and Political Economy     Open Access   (Followers: 6)
Journal of Economics and Public Finance     Open Access   (Followers: 2)
Journal of Economics, Business, & Accountancy Ventura     Open Access  
Journal of Economics, Finance and Accounting Studies     Open Access  
Journal of Economics, Management and Trade     Open Access  
Journal of Education and Work     Hybrid Journal   (Followers: 12)
Journal of Education for Sustainable Development     Hybrid Journal   (Followers: 8)
Journal of Electronic Commerce in Organizations     Full-text available via subscription   (Followers: 1)
Journal of Empirical Finance     Hybrid Journal   (Followers: 40)
Journal of Engineering and Technology Management     Hybrid Journal   (Followers: 4)
Journal of Enterprising Culture     Hybrid Journal   (Followers: 2)
Journal of Entrepreneurship     Hybrid Journal   (Followers: 17)
Journal of Entrepreneurship and Business Innovation     Open Access   (Followers: 9)
Journal of Entrepreneurship and Innovation in Emerging Economies     Hybrid Journal   (Followers: 4)
Journal of Environment & Development     Hybrid Journal   (Followers: 5)
Journal of Ergonomics     Open Access   (Followers: 8)
Journal of European Industrial Training     Hybrid Journal   (Followers: 2)
Journal of European Integration     Hybrid Journal   (Followers: 46)
Journal of Evolutionary Economics     Hybrid Journal   (Followers: 7)
Journal of Evolutionary Studies in Business     Open Access  
Journal of Family and Economic Issues     Hybrid Journal   (Followers: 4)
Journal of Financial Crime     Hybrid Journal   (Followers: 249)
Journal of Financial Econometrics     Hybrid Journal   (Followers: 31)
Journal of Financial Intermediation     Hybrid Journal   (Followers: 47)
Journal of Financial Regulation and Compliance     Hybrid Journal   (Followers: 9)
Journal of Financial Research     Hybrid Journal   (Followers: 13)
Journal of Financial Risk Management     Open Access   (Followers: 7)
Journal of Gambling Business and Economics     Full-text available via subscription   (Followers: 2)
Journal of Global Business Review     Open Access  
Journal of Global Optimization     Hybrid Journal   (Followers: 6)
Journal of Hazardous Materials     Hybrid Journal   (Followers: 12)
Journal of Health Management     Hybrid Journal   (Followers: 10)
Journal of Health Organisation and Management     Hybrid Journal   (Followers: 29)
Journal of Housing Economics     Hybrid Journal   (Followers: 10)
Journal of Human Resource Costing & Accounting     Hybrid Journal   (Followers: 5)
Journal of Indian Business Research     Hybrid Journal  
Journal of Indonesian Economy and Business     Open Access   (Followers: 1)
Journal of Industrial Economics     Hybrid Journal   (Followers: 23)
Journal of Industrial Relations     Hybrid Journal   (Followers: 22)
Journal of Industry, Competition and Trade     Hybrid Journal   (Followers: 10)
Journal of Innovation & Knowledge     Full-text available via subscription   (Followers: 3)
Journal of Innovation in Business and Economics     Open Access   (Followers: 1)
Journal of Institutional Economics     Hybrid Journal   (Followers: 16)
Journal of Intellectual Capital     Hybrid Journal   (Followers: 1)
Journal of Intelligence Studies in Business     Open Access   (Followers: 1)
Journal of Intergenerational Relationships     Hybrid Journal   (Followers: 4)
Journal of International Business Studies     Hybrid Journal   (Followers: 48)
Journal of International Education in Business     Hybrid Journal   (Followers: 2)
Journal of International Management, Educational and Economics Perspectives     Open Access  
Journal of International Scientific Researches     Open Access  
Journal of Law and Economics     Full-text available via subscription   (Followers: 80)
Journal of Law, Economics, and Organization     Hybrid Journal   (Followers: 49)
Journal of Legal Studies     Full-text available via subscription   (Followers: 46)
Journal of Management Analytics     Hybrid Journal  
Journal of Management and Development Studies     Open Access   (Followers: 1)
Journal of Manufacturing Processes     Full-text available via subscription   (Followers: 8)
Journal of Mathematical Economics     Hybrid Journal   (Followers: 4)
Journal of Media Economics     Hybrid Journal   (Followers: 3)
Journal of Medical Economics     Hybrid Journal   (Followers: 6)
Journal of Money Laundering Control     Hybrid Journal   (Followers: 249)
Journal of Multi-Criteria Decision Analysis     Hybrid Journal   (Followers: 1)
Journal of Multinational Financial Management     Hybrid Journal   (Followers: 5)
Journal of Nepalese Business Studies     Open Access  
Journal of Neuroscience, Psychology, and Economics     Full-text available via subscription   (Followers: 10)
Journal of New Business Ventures     Full-text available via subscription  
Journal of Nonprofit Education and Leadership     Full-text available via subscription   (Followers: 10)
Journal of Open Innovation : Technology, Market, and Complexity     Open Access   (Followers: 1)
Journal of Operations and Strategic Planning     Hybrid Journal  
Journal of Organizational Behavior     Hybrid Journal   (Followers: 61)
Journal of Organizational Behavior Management     Hybrid Journal   (Followers: 18)
Journal of Organizational Computing and Electronic Commerce     Hybrid Journal   (Followers: 1)
Journal of Participation and Employee Ownership     Hybrid Journal  
Journal of Payments Strategy & Systems     Full-text available via subscription   (Followers: 4)
Journal of Peasant Studies     Hybrid Journal   (Followers: 28)

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Similar Journals
Journal Cover
Journal of Productivity Analysis
Journal Prestige (SJR): 1.054
Citation Impact (citeScore): 2
Number of Followers: 4  
 
  Hybrid Journal Hybrid journal (It can contain Open Access articles)
ISSN (Print) 1573-0441 - ISSN (Online) 0895-562X
Published by Springer-Verlag Homepage  [2469 journals]
  • Model uncertainty and efficiency measurement in stochastic frontier
           analysis with generalized errors

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      Abstract: Abstract Advanced efficiency measurement methods usually fall within Stochastic Frontier Analysis (SFA), Data Envelopment Analysis (DEA), or their derivatives. Although SFA has some theoretical advantages, it has been criticized for relying on arbitrary and potentially restrictive assumptions about model specification. One strand of the literature suggests the use of nonparametric SF models to cope with the issue. We follow an alternative path and demonstrate that it is possible to deal with specification uncertainty and potentially restrictive assumptions while maintaining the advantages of the parametric approach. First, we develop a flexible stochastic model based on generalized t and generalized beta of second kind distributions, which encompasses virtually all known parametric SFA specifications. Second, we apply Bayesian inference methods, which are less restrictive than those used so far, and propose feasible approximate alternatives based on maximum likelihood. Third, we pool results from alternative specifications using model averaging. Our focus is on the distributional assumptions regarding the compound error in SFA since this aspect has not been addressed so far in a satisfactory way. However, extensions to other elements of specification uncertainty, like the choice of the frontier functional form, are straightforward. Finally, we show simulations results and analyze two well-researched datasets, for which we obtain probabilistic (density) estimates of efficiency scores that take into account the estimation error and model uncertainty in a formally justified manner.
      PubDate: 2022-05-19
       
  • The productivity growth of euro area banks

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      Abstract: Abstract We study the performance of the banking system in the Eurozone over the period 2006–2017 as measured by total factor productivity growth (TFPG) and its components. We find that Total Factor Productivity growth for the median euro area bank decreased from around 2.6% in 2007 to below 1.7% in 2017, driven mainly by a decline in technical efficiency. In addition, we control for unobserved heterogeneity across banks and disentangle persistent and time-varying inefficiency in the banking sector. This modelling choice is important to avoid distorted and biased inefficiency estimates. We find that cost efficiency in the euro area banking sector amounted to around 84% on average over the 2006 to 2017 period. The largest part of bank inefficiency is persistent, suggesting that structural long-term factors (such as location, client structure, macroeconomic environment, regulation, etc.) play a bigger role than time-varying factors.
      PubDate: 2022-05-07
       
  • Persistent and transient inefficiency in a spatial autoregressive panel
           stochastic frontier model

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      Abstract: Abstract In this paper, we extend the four-component stochastic frontier model to allow for global spatial dependence via the endogenous spatial autoregressive variable. Our proposed model is more general than the model considered by (Glass et al., 2016) in the sense that we include a random effect as well as a permanent efficiency component. With the spatial autoregressive specification, our model is able to capture the asymmetric efficiency spillovers and also decompose the persistent/transient inefficiencies into direct and indirect efficiencies. Moreover, we also investigate the marginal effects of the exogenous variables on the persistent/transient efficiency. We suggest a maximum simulated likelihood method to estimate the frontier parameters of the model, and we predict the efficiencies using the simulated estimator. Monte Carlo simulations reveal that the suggested estimator performs well in finite samples. An empirical application is considered to illustrate the usefulness of our proposed model and method.
      PubDate: 2022-04-25
       
  • Elasticity measurement on multiple levels of DEA frontiers: an application
           to agriculture

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      Abstract: Abstract Recently, the elasticity of response measures revealing the marginal characteristics of efficient frontiers have been developed and generalized for different types of DEA production technologies. In theory, the elasticity measures can be calculated for the units on the efficient frontier that satisfy a selective radial efficiency assumption. This corresponds to a subset of the evaluated units. In this research, we propose to extend the elasticity measurement to the entire production possibility set (technology) by stratifying the units to different levels of efficient frontiers. The stratification idea is inspired by the commonly known context-dependent DEA based on the exclusion of efficient units at each iteration and obtaining multiple levels of frontiers. We build the proposed methodology on the idea that a DEA technology theoretically consists of several frontiers and calculating elasticity measures on all frontiers may provide additional information on the returns-to-scale (RTS) characteristics of all the units whether they are on the first-level frontier or not. The proposed methodology is presented in an empirical application using the Farm Accountancy Data Network (FADN) data of the agricultural farms operating in the Aegean Region of Turkey. The results reveal that the proposed method enables us to obtain a wider perspective on the RTS characterizations of DEA production technologies.
      PubDate: 2022-04-25
       
  • Goodness--of--fit tests for stochastic frontier models based on the
           characteristic function

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      Abstract: Abstract We consider goodness–of–fit tests for the distribution of the composed error in Stochastic Frontier Models. The proposed test statistic utilizes the characteristic function of the composed error term, and is formulated as a weighted integral of properly standardized data. The new test statistic is shown to be consistent and computationally convenient. Simulation results are presented whereby resampling versions of the new tests are compared to classical goodness–of–fit methods.
      PubDate: 2022-03-14
       
  • Energy intensity improvement and energy productivity changes: an analysis
           of BRICS and G7 countries

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      Abstract: Abstract This research defines the energy intensity target of the contemporaneous metafrontier and global metafrontier in order to assist decision-makers at identifying the efficient energy intensity target. We find that the sources of energy intensity improvement under the global metafrontier are due to three reasons: managerial inefficiency, technology gap inefficiency, and global technology gap inefficiency. In addition, the measurement of the energy intensity target also extends to that of energy productivity changes. The research applies data envelopment analysis (DEA) to empirically study Brazil, Russia, India, China, and South Africa (BRICS) and the Group of Seven (G7) countries and demonstrates that the BRICS group exhibits a larger scope for energy intensity improvement than the G7 group, but that both groups should still pay greater attention to energy technology promotion to improve energy intensity. A win–win strategy for the two groups to achieve this is by fully realizing energy technology transfer from high-tech to low-tech countries.
      PubDate: 2022-03-14
       
  • Exploring hospital efficiency within and between Italian regions: new
           empirical evidence

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      Abstract: Abstract This paper investigates the efficiency of Italian hospitals and how their performances have changed over the years 2007–2016, characterized by the great economic recession and budget constraints. We apply the Benefit of Doubt (BoD) approach to determine a composite index that considers the multi-dimensionality of the hospital outcome to be used as main output in a metafrontier production function based on a stochastic frontier framework. The efficiency score distribution is then used to construct a Theil index in order to compare, over time, the inequality of the estimated efficiency between hospitals, both within and between regions. The main findings show that the primary source of inefficiency comes from managerial inefficiency especially for hospitals located in southern regions. A clear and persistent North-South gap in efficiency performances of hospitals has been found along with an increase in the inequality in terms of efficiency between the areas of the country mostly determined by between region inequality.
      PubDate: 2022-03-11
       
  • The structure of production technologies with ratio inputs and outputs

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      Abstract: Abstract Applications of efficiency and productivity analysis in which some inputs and outputs are given in the form of percentages, averages and other types of ratio measures are sufficiently common in the literature. In two recent papers, the authors developed the variable and constant returns-to-scale technologies with both volume and ratio types of inputs and outputs, referred to as the R-VRS and R-CRS technologies. These technologies are generally nonconvex and have a complex structure. In this paper we explore this in detail. We show that the R-VRS technology can be stated as the union of a finite number of specially constructed standard VRS technologies. Similarly, the R-CRS technology in which all ratio inputs and outputs are of the fixed type, which are typically used to represent environmental and quality factors, can be stated as the union of a finite number of partial polyhedral cones. We show that these results have important theoretical, including conceptual, implications.
      PubDate: 2022-03-09
      DOI: 10.1007/s11123-022-00631-6
       
  • The shadow prices of CO2, SO2 and NOx for U.S. coal power industry
           2010–2017: a convex quantile regression method

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      Abstract: Abstract Evaluating shadow prices is critical in devising environmental regulatory policies for pollutants. Compared to traditional frontier estimation methods, this paper uses a recently developed data-driven approach named convex quantile regression, taking both the noise and inefficiency into account and estimating the shadow prices locally. This paper is the first work applying convex quantile regression to jointly evaluate shadow prices of CO2, SO2, and NOx produced by U.S. coal power plants from 2010 to 2017. During this period, five major regulatory provisions were implemented for U.S. coal power plants. We find that the shadow prices of CO2, SO2, and NOx increased from 2010 to 2017. The increase in the shadow price of CO2 is mainly due to the increase in electricity prices, while the increase in shadow prices of SO2 and NOx is mainly due to the successful emission reductions. Moreover, the results show that the CSARP and CSARP Update have significantly increased the shadow prices of SO2 and NOx. However, the relatively lower market allowance prices compared to the shadow prices indicate that society could benefit more if the government could increase the market prices of the pollutants to be more close to the shadow prices.
      PubDate: 2022-02-15
      DOI: 10.1007/s11123-022-00629-0
       
  • Technical efficiency and firm heterogeneity in stochastic frontier models:
           application to smallholder maize farms in Ethiopia

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      Abstract: Abstract This study estimates the technical efficiency measures of maize producing farm households in Ethiopia using stochastic frontier (SF) panel models that take different approaches to model firm heterogeneity. The efficiency measures are found to vary depending on how the estimation model treats both unobserved and observed firm heterogeneity. Estimates from the ‘true’ random effects (TRE) models that treat firm effects as heterogeneity are found to be identical to those from pooled SF models. Those results differ from the ones generated from the basic random effects (RE) models that treat firm effects as part of overall technical inefficiency. The more flexible generalised ‘true’ random effects (GTRE) model that splits the error term into firm effects, persistent inefficiency, transient inefficiency, and a random noise component indicates the presence of higher levels of persistent inefficiency than transient inefficiency. The basic truncated-normal RE model and heteroscedastic RE model yields similar efficiency estimates. The GTRE model predict persistent efficiency measures similar to those from the basic RE and flexible RE model with environmental variables incorporated in the variance function as well as in the deterministic production frontier. These results imply that the RE and GTRE panel models provide reliable efficiency estimates for our data compared to the TRE models. All the estimated SF models generate comparable production function parameters in terms of magnitude and sign. Overall, the results underscore the importance of scrutinising stochastic frontier models for their reliability of analytical results before drawing policy inferences.
      PubDate: 2022-02-10
      DOI: 10.1007/s11123-022-00627-2
       
  • The choice of efficiency benchmarking metric in evaluating firm
           productivity and viability

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      Abstract: Abstract The Debreu–Farrell measure of technical efficiency is widely used to benchmark firm performance. A limitation of this measure is that it is orientation restricted and evaluates the performance of a decision-making unit in an explicit direction relative to the best-practice frontier and not the most productive point on the frontier. Therefore, the measure does not provide policy insight on how to direct decision-making units to achieve the best possible productivity level. Taking a departure from conventional nonparametric benchmarking studies, this study benchmarks the performance of commercial farm businesses in the Western Australia’s wheatbelt region using total factor productivity efficiency (‘TFP efficiency’) and compares the results to those when the conventional technical efficiency measures are applied. We find that the two measures of firm performance differ and are influenced by different sources of firm heterogeneity. Therefore, derived policy insights and prescriptions also differ. This is an important insight that policymakers and practitioners need to be aware of.
      PubDate: 2022-02-09
      DOI: 10.1007/s11123-022-00628-1
       
  • Technical progress and induced innovation in China: a variable profit
           function approach

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      Abstract: Abstract We propose a new methodology to estimate empirically the input price-induced technical change and total factor productivity (TFP) growth in China. Our primary goal is to test Hicks’ induced innovation hypothesis by examining whether technical change in China has been induced by sharp increase in input prices that have accompanied its rapid economic growth. Utilizing the idea of a firm’s two-stage optimization problem, we develop a new parametric form of the variable profit function wherein the derived input demand and output supply functions can be easily constrained to be regular, and the functional structure is parsimonious in the number of parameters. Applying this methodology to Chinese time series data for 1986–2017, we find that not only is wage-induced innovation significant and quantitatively important, but also that it substantially buffered a decline in TFP growth before 2006 that would otherwise be substantial. Overall, we conclude that China’s economic growth is predominantly driven by wage-induced innovation along with massive injection of heavily subsidized physical inputs in public works and huge investment in industrial sectors.
      PubDate: 2022-01-27
      DOI: 10.1007/s11123-021-00626-9
       
  • Environmental efficiency measurement when producers control pollutants
           under heterogeneous conditions: a generalization of the materials balance
           approach

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      Abstract: Abstract This article provides a generalization of the materials balance-based production model introduced by Coelli et al. (2007). Based on this, some new environmental efficiency (EE) measures are presented. The Coelli et al. (2007) EE measure and its extension by Rødseth (2016) produce biased efficiency estimates if the material flow coefficients (MFCs) are heterogeneous across decision-making units and non-discretionary. Furthermore, the Coelli et al. (2007) measure fails to reward emission reductions by emission control. To overcome these shortcomings, this paper proposes production models which allow for heterogeneous MFCs reflecting differences of external environmental factors or non-controllable heterogeneities in inputs and outputs, and which properly take into account emission abatement activities. Based on this, EE measures are provided and decomposed into (i) a part reflecting emission control efficiency (ECE), (ii) a part measuring material input efficiency (MIE), and (iii) a part reflecting the efficient allocation between material and non-material inputs (environmental allocative efficiency, EAE). The approach is illustrated by an empirical application to arable farming in Austria utilizing data from 90 farms for the year 2011. Soil erosion is considered an undesirable output and land a material input. The average EE, ECE, MIE, and EAE are 0.53, 0.96, 0.69, and 0.79, respectively. The results indicate that actual output can be potentially achieved with 47% less soil loss. Most of the potential to improve EE is due to differences in MIE and EAE. Removing inefficiencies in the implementation of existing, subsidized erosion controls allows soil loss to be reduced by 4%.
      PubDate: 2022-01-19
      DOI: 10.1007/s11123-021-00623-y
       
  • Measuring and comparing World Bank regions’ ‘ease of doing business’
           opportunity sets

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      Abstract: Abstract This paper measures and compares the World Bank regions’ opportunity sets to promote ease of doing business for the years 2010 and 2019, as well as the time period 2010–2019. We combine the theoretical framework of Verbunt et al. (2020) and the non-parametric frontier estimation approach as proposed by Van Puyenbroeck and Rogge (2020) to construct and assess (changes in) the regions’ opportunity sets and best practice frontiers. The results reveal considerable differences across World Bank regions in ease of doing business, which decrease over the period of study. By 2019, the regions have grouped into two clusters: the leading high income OECD, Europe and Central Asia, and East Asia and Pacific, and the lagging Middle East and North Africa, Latin America and the Caribbean, South Asia and Sub-Saharan Africa. The results prove to be consistent with the concept of development clustering.
      PubDate: 2022-01-15
      DOI: 10.1007/s11123-021-00624-x
       
  • Nonparametric measurement of potential gains from mergers: an additive
           decomposition and application to Indian bank mergers

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      Abstract: Abstract In this paper, we derive conditions under which merger between a number of firms within the same industry would induce a more cost efficient production of the aggregate output bundle, especially in the short-run, and show that potential cost economies from a merger can be attributed to three factors: convexity of the technology, sub-additivity of the ray short-run total cost curve, and a trade-off between reduction in the variable cost and increase in fixed cost arising from an aggregation of the fixed inputs of the merging units. We use this proposed analytical framework to evaluate the gains from various recent bank mergers in India. We employ the nonparametric method of Data Envelopment Analysis for retrospectively quantifying the potential gain from specific mergers and its components both in the short-run and in the long-run.
      PubDate: 2022-01-13
      DOI: 10.1007/s11123-021-00625-w
       
  • Capital and labor misallocation in the Netherlands

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      Abstract: Abstract Using firm-level panel data we analyze the misallocation of capital and labor for the Netherlands in the period 2001–2017. We use the dispersion in marginal revenue products of capital and labor to measure the extent of misallocation. Compared to a counterfactual efficient allocation we find that misallocation has had a sizable negative impact on aggregate productivity of around 14 percentage points in the period 2001–2017. Especially capital misallocation has increased over time. Exploiting a panel data error components model we find that capital misallocation has a much more permanent character than labor misallocation. Moreover, it is the permanent component of capital misallocation that has increased over time. Finally, we show that in our sample the measurement of misallocation is largely insensitive to capital adjustment costs and alternative specifications of the production function. The contribution of heterogeneous markups to observed misallocation, however, is non-negligible.
      PubDate: 2022-01-13
      DOI: 10.1007/s11123-021-00622-z
       
  • Efficiency measurement of higher education units using multilevel frontier
           analysis

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      Abstract: Abstract This study aims at evaluating the crucial effects of incorporating heterogeneities and hierarchies in the efficiency evaluation of higher education units through conducting multilevel frontier analysis. Using two sets of data on academic departments nested within faculties, and faculties within colleges of a comprehensive university in Iran, we simultaneously evaluate efficiency scores of departments, faculties, colleges, and the university. It has been shown that: (1) there is a great degree of heterogeneities among departments, faculties, and colleges of the university; (2) incorporating the heterogeneities changes efficiency scores which accordingly questions the accuracy of standard DEA and SFA efficiency estimates; (3) multilevel modelling helps to uncover huge differences in behavior and performance through decomposing overall efficiency scores into multiple measures of efficiency; and (4) departments, in comparison with faculties and colleges, play a more significant role in the overall performance of the university. Resource allocation policy implications of the findings were also discussed.
      PubDate: 2022-01-04
      DOI: 10.1007/s11123-021-00621-0
       
  • A generalization of environmental productivity analysis

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      Abstract: Abstract This paper aims to analyze environmental Total Factor Productivity (TFP) change. Indeed, innovative environmental TFP measures are introduced through convex and non convex environmental production processes. Hence, the impacts of input and output quality change on environmental productivity variation are underscored. In addition, general decomposition of the new ratio- and difference-based environmental TFP measures is proposed. Finally, an empirical example is provided to illustrate these propositions.
      PubDate: 2022-01-04
      DOI: 10.1007/s11123-021-00620-1
       
  • Evidence from shadow price of equity on “Too-Big-to-Fail”
           Banks

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      Abstract: Abstract This paper estimates the shadow price of equity for U.S. commercial banks over 2001–2018 using nonparametric local-linear estimators of the underlying cost frontier and tests the existence of “Too-Big-to-Fail” (TBTF) banks. Evidence for the existence of TBTF banks is found. We find that a negative correlation exists between the shadow price of equity and the size of banks in each year, suggesting that big banks pay less for equity than small banks. In addition, in each year there are more banks with a negative shadow price of equity in the fourth quartile based on total assets than in the other three quartiles. The data also reveal that for each year, the estimated mean shadow price of equity for the 50 largest banks is smaller than the mean price of deposits, even though equity is commonly viewed as a riskier asset than deposits. Finally, we find that the top 10 largest banks are willing to pay much more at the start of the global financial crisis and after the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 than the other periods. These results imply that these regulations are effective in reducing the implicit subsidy, at least for the top 10 largest banks. However, it is also evident that the recapitalization has imposed significant equity funding costs for the top 10 largest banks.
      PubDate: 2021-11-09
      DOI: 10.1007/s11123-021-00619-8
       
  • Decomposition of technical efficiency under fixed proportion technologies:
           an application of data envelopment analysis

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      Abstract: Abstract The paper deals with the technical efficiency evaluation under the fixed proportion technologies (FPTs) assumption where nonsubstitutable inputs and outputs are present. The recent research has shown that the conventional data envelopment analysis (DEA) models used for FPTs are biased, and when inputs and outputs are not substituted for either technological or other reasons, the models that account for nonsubstitutability need to be employed. This paper discusses a technical efficiency decomposition under FPTs and proposes two new models for quantification of contribution of various sources to overall inefficiency. The first model, called the calculation-based model, is a purely parametric model for efficiency decomposition, whereas the second model, called the adjusted CCR model, is a combination of parametric and nonparametric DEA approach. Using the models presented in the paper, the overall efficiency measure is decomposed into three main components: Farrell efficiency component, input mix efficiency component and output mix efficiency component. The selected estimators, some of them newly developed, are compared with the true efficiency levels via Monte Carlo simulations to measure the accuracy of the models. The results demonstrate that the proposed models provide sufficiently reliable results and in terms of overall efficiency are comparable with existing models for measuring efficiency in FTP conditions.
      PubDate: 2021-11-06
      DOI: 10.1007/s11123-021-00617-w
       
 
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