Lasting lending relationships and technical efficiency. Evidence on European SMEs

Agostino, Mariarosaria; Ruberto, Sabrina; Trivieri, Francesco

doi:10.1007/s11123-018-0532-z

Cited by 16 publications

(9 citation statements)

References 63 publications

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“…The literature offers opposite predictions on the relationship between farm size and technical efficiency. On the one hand, it could have a positive impact on efficiency for the greater ability to attract more qualified workers, and to obtain credit to invest in the production process improvement (Agostino et al, 2018). On the other hand, inefficient hierarchical structures in the management of larger farms may have a negative effect on efficiency (Margaritis & Psillaki, 2007;Williamson, 1967).…”

Section: A2 | Control Variables Descriptionmentioning

confidence: 99%

“…Additionally, we included LEV-defined as a ratio of a farm's total debt to equity-to account for farm indebtedness. In fact, the financial pressure could induce farmers to promote greater efficiency, so that positive results obtained thanks to greater efficiency could allow for the repayment of debts (Agostino et al, 2018;Weill, 2008;Zhengfei & Lansink, 2006).…”

Section: A2 | Control Variables Descriptionmentioning

confidence: 99%

“…Furthermore, greater liquidity can be used to make the production process more efficient, through investments in physical and human capital (Alvarez & Crespi, 2003). However, greater indebtedness could induce opportunistic behaviors (moral hazard) of managers, increasing farm inefficiency (Agostino et al, 2018;Jensen & Meckling, 1976;Zhu et al, 2012). Moreover, we included the share of SRUAA, computed on the total UUA.…”

Section: A2 | Control Variables Descriptionmentioning

confidence: 99%

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What kinds of subsidies affect technical efficiency? The case of Italian dairy farms

Agostino,

Comert,

Demaria

et al. 2023

Agribusiness

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The relationship between subsidies and the technical efficiency of farms has important policy implications. The impact on efficiency can depend on the type of grant. Here, three macrocategories of subsidy are distinguished. With reference to a large sample of Italian dairy farms, the macrocategory of rural development payments is further broken down according to the main types of subsidy received. A stochastic frontier analysis based on the Farm Accountancy Data Network reveals a heterogeneous influence of these categories. Subsidies coupled with production are associated with greater efficiency. Decoupled grants have a negative influence on efficiency when pursuing agri‐environmental policy objectives, and no impact on efficiency when supporting the income of farms or promoting the transfer of knowledge and competitiveness. [EconLit Citations: C13, Q12].

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Section: A2 | Control Variables Descriptionmentioning

confidence: 99%

Section: A2 | Control Variables Descriptionmentioning

confidence: 99%

Section: A2 | Control Variables Descriptionmentioning

confidence: 99%

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What kinds of subsidies affect technical efficiency? The case of Italian dairy farms

Agostino,

Comert,

Demaria

et al. 2023

Agribusiness

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“…We perform two main sets of robustness checks to corroborate our findings. First of all, like other papers investigating the impact of internal firms' characteristics and external factors on efficiency (e.g., Agostino, Ruberto, & Trivieri, ; Alvarez & Crespi, ; Cummins & Xie, ; Kwoka & Pollitt, ; Sufian, ), we adopt a two‐stage DEA estimator. In particular, to ensure valid inference, we carry out the double (smoothed) bootstrap procedure proposed by Simar and Wilson (): we first bootstrap DEA scores to obtain bias‐corrected efficiency scores and then regress them on covariates by employing bootstrapped regressions.…”

Section: The Empirical Investigationmentioning

confidence: 99%

Firms' efficiency and global value chains: An empirical investigation on Italian industry

et al. 2019

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This paper investigates the effect of participation in global value chains (GVCs) on firms' efficiency and explores heterogeneity in this impact across different firms, according to GVC governance, positioning in the chain and time length of participation. Our analysis takes advantage of survey data providing information on involvement in GVCs for a large set of Italian industrial SMEs between 2008 and 2012. We employ Data Envelopment Analysis (DEA) to retrieve a measure of firms' technical efficiency (i.e., DEA efficiency scores) and estimate the impact of involvement in GVCs on firms' efficiency through propensity‐score matching techniques and truncated regression. Our results show that participation in GVCs induces significant efficiency premia, especially for suppliers, with stronger effects in the case of relational modes of participation.

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“…Mugera and Nyambane (2015) observe that the productive efficiency of farms in western Australia is positively associated with short-term debt. Agostino et al (2018) document that higher debt ratio in small and medium-sized enterprises (SMEs) significantly diminishes the positive effect of longer lending relationships on firms' productive efficiency.…”

Section: Does High Leverage Ratio Influence Chinese Firm Performance?mentioning

confidence: 99%

Three Essays on Nonparametric Hypothesis Testing and Stochastic Frontier Analysis

Wang¹

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Devoting my time to deeply understanding a subject of my interest has long been a dream since I was a kid. I consider myself very fortunate to have such a chance to pursue economic research toward the PhD at West Virginia University. Indeed, this dream becomes true as a result of tremendous help and supports from the most important people in my life. First of all, it is my genuine pleasure to express my deep gratitude to my advisor, Dr. Feng Yao, who has consistently provided generous help to my research. Without the clear guidance and inspiration from Dr. Yao, it is impossible for me to conduct my initial research in Nonparametric Econometrics. Dr. Yao always possesses enthusiastic attitude towards research works, which greatly encourages me to face and solve challenging works throughout the research process. With detailed explanation by Dr. Yao on technical issues, I am able to go deeper in the field of Econometrics, and see many interesting and promising topics for my future works. I would like to extend my gratitude to my committee members, Dr. Arabinda Basistha, Dr. Jane Resuske, and Dr. Xiaoli Etienne, for their constructive feedbacks and advices on my present studies. I also gratefully thank Dr. Guillermo Franco for his generous help on High Performance Computing, which significantly facilitates many of my projects. Last of all, I greatly thank my mother Yihong Zhang for her endless love throughout my life, and my loving fiancé Jinjing Tian for her invaluable support to my PhD life and inspiration for my research. I also thank my best friend, Tingyu Li, who always have a way to cheer me up when I face obstacles. iii Exploration and abstention of coal and char industry Exploration of oil and natural gas industry

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Lasting lending relationships and technical efficiency. Evidence on European SMEs

Cited by 16 publications

References 63 publications

What kinds of subsidies affect technical efficiency? The case of Italian dairy farms

What kinds of subsidies affect technical efficiency? The case of Italian dairy farms

Firms' efficiency and global value chains: An empirical investigation on Italian industry

Three Essays on Nonparametric Hypothesis Testing and Stochastic Frontier Analysis

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