Productivity and efficiency estimation: A semiparametric stochastic cost frontier approach

Sun, Kai; Kumbhakar, Subal C.; Tveterås, Ragnar

doi:10.1016/j.ejor.2015.03.003

Cited by 29 publications

(18 citation statements)

References 27 publications

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“…In this sense, these results, of course, give us directions in the inputoutput space that can be reasonably used in other studies or banking policy makers with a purpose towards reducing inefficiency. Usually, such concerns are not taken into account although they clearly impose an overhead in empirical analysis, see for example Asmild and Matthews (2012), Balezentis and DeWitte (2015), Biener et al (2016), Reyes et al (2016), Saranga (2009), Tecles and Tabak (2010), Sena (2016), Tsionas and Mamatzakis (2017), Annaert et al (2003), Chen et al (2016), Badunenko and Kumbhakar (2017) and Sun et al (2015). Simar et.al (2016) provide a probabilistic formulation of production to give an original characterization of the directional distances.…”

Section: Accepted Manuscript 1 Introductionmentioning

confidence: 99%

A novel model of costly technical efficiency

Tsionas

Izzeldin

2018

European Journal of Operational Research

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This is a PDF file of an unedited manuscript that has been accepted for publication. As a service to our customers we are providing this early version of the manuscript. The manuscript will undergo copyediting, typesetting, and review of the resulting proof before it is published in its final form. Please note that during the production process errors may be discovered which could affect the content, and all legal disclaimers that apply to the journal pertain. Highlights • A novel model of technical inefficiency based where improvements are costly. • Equivalent to model where inefficiency is arbitrary function in input-output space. • We determine optimal directions in input-output space. • Guide for policy actions to reduce inefficiency. • Bayesian techniques are used to statistical inferences.

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Section: Accepted Manuscript 1 Introductionmentioning

confidence: 99%

A novel model of costly technical efficiency

Tsionas

Izzeldin

2018

European Journal of Operational Research

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“…This methodology to measure productivity, however, has been mainly applied in nonbanking research (Heshmati et al, 2014). Sun et al (2015) propose a semiparametric cost frontier of which the slope coefficients are a nonparametric function of the time trend. The semiparametric cost function is estimated first, followed by a decomposition of inefficiency into timevarying and time-invariant components.…”

Section: Non-parametric Studiesmentioning

confidence: 99%

“…There has been extensive theoretical and empirical research into the field of firm efficiency and productivity (Heshmati, Kumbhakar, & Sun, ; Subal C. Kumbhakar & Tsionas, ; Sun, Kumbhakar, & Tveterås, ). In terms of bank efficiency and productivity, the outbreak of the global financial crisis has driven a surge of banking studies (Matousek, Rughoo, Sarantis, & Assaf, ; Tsionas, Assaf, & Matousek, ), unfolding the paramount importance of financial intermediaries within the economic system.…”

Section: Introductionmentioning

confidence: 99%

What is the impact of problem loans on Japanese bank productivity growth?

Mamatzakis

Matoušek

2019

Financial Market

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This paper examines for the first time the impact of problem loans on Japanese productivity growth. We exploit a new data set of Japanese problem loans classified into two categories: bankrupt and restructured loans. We opt for a novel and flexible productivity growth decomposition that allows to measure the direct impact of these problem loans on productivity growth. The results reveal that Japanese bank productivity growth was severely constrained by bankrupt and restructured loans early in 2000s, whilst some persistence of the negative impact of problem loans on productivity growth is observed in the late 2000s. Thereafter, there is only some partial recovery in the productivity growth from 2012 to 2015. Further, we also perform cluster analysis to examine convergence or divergence across regions and over time. We observe limited convergence, though Regional Banks seem to form clusters in some regions.

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“…;Färe and Lovell (1978);Gumbau-Albert and Maudos (1996);Hawdon (2003);Lovell (1993);Perelman (1995);Ramanathan (1999);Sun et al (2015);Tugcu (2013);Winkler (2003);Yudistira (2004);Sufian and Habibullah (2011) investigated the impact of macroeconomic and microeconomic factors on efficiency level in the developing and developed economy Sufian and Habibullah (2011). applied a DEA data envelopment analysis mathematical approach to compute the TE of the industry in Republic of China during the period 2000 and 2008.…”

mentioning

confidence: 99%

Estimating the Economic Determinants of Technical Efficiency of Bioenergy in EU-28: An Application of Tobit Analysis

Alsaleh¹,

Abdul‐Rahim²

2019

Journal of Social Economics Research

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Article History KeywordsBioenergy industry Technical efficiency Capital input Labour input Gross domestic product Real interest rate EU-28 region. JEL Classification:Q20; Q01; Q56.This study identified the effects of economic factors on technical efficiency (TE) rate in the bio-energy section for the European Union zone (EU-28). A Tobit framework estimation was used to investigate the economic factors of TE rate in the bio-energy sector for the EU-28 zone during the period among 1990 through 2013. The findings point that economic determinants have a significant impact on TE rate of the bioenergy sector in the EU-28 countries. The empirical findings suggest that labor input and gross domestic product (GDP) significantly affected the TE of the bio-energy sector in the EU-28 zone through the duration of this paper. The results obviously inviting governors and politicians to investigate the TE rate of the bio-energy sector within the EU-28 zone. This paper gives further facts and details to the senates of the bio-energy sectors, as they require to get a further comprehension of the impact TE has on bio-energy production execution. In addition, the findings of this paper have suggestions for financiers who concentrates significantly on revenues from their directinvestments. Contribution/Originality:This study contributes to the existing literature in investigating the TE of the bioenergy industry in the EU-28 region. This study uses new estimation methodologies such as the Data Envelopment Analysis (DEA) and the Tobit Model to investigate the impact of economic determinants on the TE of the bioenergy industry in the EU28 region during the period between 1990 and 2013. 1990 to 16500 TOE in 2013, while developing countries gross inland consumption increased from 500 TOE in 1990 to 24750 TOE in 2013. In addition, the CO2 trend shows unstable reduction during the period between 1990 and 2013; this refers to that bioenergy production is insufficient and could not meet the bioenergy consumption in developing countries. In developed countries (such as; Germany, France, UK, Finland, etc.), the trend of CO2 emission reduction did not decrease significantly and was unstable during the period 1990-2013. Moreover, bioenergy production trend shows that in developed countries the production increased from 36000 TOE in 1990 to 60000 TOE in 2013. On the other hand, bioenergy gross inland consumption in developed countries during the period between 1990 through 2013 has increased significantly in comparison with the production trend from the but lnLI giving the largest contribution. On the other hand, lnCI factor does not participate significantly in comparison with lnLI. Second macroeconomic factor is lnGDP, which was the highest significant external factor that participated to enhancing the TE rate in comparison with lnRIR. Thus, the lnGDP positively and significantly impact the TE in Model 1 and Model 2 to provide the highes contributor in the TE rate comparing with lnRIR.The findings showed in this paper obviously that TE affected...

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Productivity and efficiency estimation: A semiparametric stochastic cost frontier approach

Cited by 29 publications

References 27 publications

A novel model of costly technical efficiency

A novel model of costly technical efficiency

What is the impact of problem loans on Japanese bank productivity growth?

Estimating the Economic Determinants of Technical Efficiency of Bioenergy in EU-28: An Application of Tobit Analysis

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