This paper measures the technical efficiency of 54 public road transport operators and investigates the degree to which various factors influence efficiency levels in these firms. The study makes an attempt to provide an overview of the general status of different operators in 18 countries. Stochastic Frontier Analysis (SFA) methods are applied to our sample over a twelve year period from 2000 to 2011. To our knowledge, this is the first comprehensive analysis of technical efficiency of public road transport operators in 18 countries using parametric method. Our empirical results indicate that investment, operating profit and firm size have a significant influence on technical efficiency levels. We find that technical efficiency level of public road transport operators varies between 0.458 and 0.95. We also observe that large-size operators with more investment capacity tend to be more technically efficient than small-size operators. Finally, we find that operators from developed countries are technically more efficient than those of developing countries.
This article attempts to determine the reasons of banks' failure relying heavily on the relationship between corporate governance of banks, the value of charter and risk taking. It focuses on the concept of market discipline in the banking sector. In general, the bank faces three problems: the failure of its client, increased competition and adaptation to new information and communication technologies. Our task is to show the impact of excessive risk-taking on bank profitability. It seems essential to take into account the consequences of strategic interactions of the efficiency of the banking system. The question is how we can control the level of risk-taking in the banking sector.Our study focuses on the banking markets of seven developed countries. Our sample consists of 41 banks over the period 2000-2012. It is important to determine the disciplinary role of the shareholder in examining the effect of charter value on risk-taking by banks. Our goal is to show that the charter value can be considered as a factor of leaders' self-discipline towards risk taking. We tested the model of two simultaneous equations (3SLS) and we found that the value of charter plays a role of self-discipline only for risk capital and assets. This charter value increases the risk of insolvency. However it has no effect on the credit risk.
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