This paper applies dynamic network slacks-based data envelopment analysis to measure financial performance based on the interrelationship among investment, financing, and dividend decisions. The empirical results show that financial performance is determined simultaneously by the efficiency of decisions, and sample firms have good performance in investment stage, but need to improve their financing and dividend policies. The proposal financial performance measure explains the multicriteria of decision-making rather than the single financial ratios. Besides, the research contributes a novel on the significant relationship between firm's ownership structure in the form of managers, government and foreign shareholders, and the firm's financial performance.

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Sustainable tourism is the idea of managing the negative impacts or potential for serious harm to the economic, environmental, or social elements of a destination, and thus reaching the goals of sustainable development. This research benchmarks the sustainability of 111 tourist destinations throughout the world, using an advanced integration of a two-stage network DEA under the meta-frontier concept, directional distance function, and network-based ranking methods. The empirical outcomes of these analyses clarify that the sources of sustainable inefficiencies are the self-production process and the technology gap among the tourism regions, rather than the capacity of utilizing the input resources or maintaining the production outcomes. The network-based ranking emphasizes the sufficiency and deficiency of each place, and provides a map of reference among destinations. Based on these, the article reports some managerial suggestions, theoretical implications, and future research directions.

This study evaluates the profitability and marketability efficiencies of digital firms ranked in Forbes’ list of top companies by using a two-stage network data envelopment analysis (DEA) model with multiplicative efficiency aggregation under the second-order cone programming (SOCP) and examines the respective impacts of the 1995–2001 dot-com bubble and the 2007–2009 global financial crisis on the companies’ efficiencies by applying impulse response function (IRF) analysis. The data of our 49 sampled companies are derived from the Compustat database. The covered period is 1999–2018. These results present the stable and increasing improvement of profitability and marketability efficiencies; in addition, two crisis events have no significant impact on the performance of digital firms. This research is supposed to offer a reasonable and objective evaluation model to measure the performance of digital firms, providing the managers and investors a reference for making their decision.