Measuring the economic efficiency performance in Latin American and Caribbean countries: An empirical evidence from stochastic production frontier and data envelopment analysis

Koengkan, Matheus; Fuinhas, José Alberto; Kazemzadeh, Emad; Osmani, Fariba; Alavijeh, Nooshin Karimi; Auza, Anna; Teixeira, Mônica

doi:10.1016/j.inteco.2021.11.004

Cited by 28 publications

(7 citation statements)

References 44 publications

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“…Understanding the concepts of financing efficiency, and the techniques available for its measurement, is of fundamental importance [25]. In this paper, the financing efficiency of hydrogen energy listed enterprises in China was studied from two perspectives: cost efficiency and capital allocation efficiency of corporate financing [26].…”

Section: Dea Model For Hydrogen Energy Financing Efficiency Evaluationmentioning

confidence: 99%

“…In the actual calculation process, SFA requires that the output variable is single, which is often inconsistent with the actual situation. Therefore, DEA is often the best choice for measuring efficiency when the output variable is not unique [25]. DEA is a nonparametric technical efficiency analysis method based on relative comparisons among evaluated objects.…”

Section: Dea Model For Hydrogen Energy Financing Efficiency Evaluationmentioning

confidence: 99%

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Financing Efficiency Evaluation and Influencing Factors of Hydrogen Energy Listed Enterprises in China

et al. 2022

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Existing studies of financing efficiency concentrate on capital structure and a single external environment or internal management characteristic. Few of the studies include the internal and external financing environments at the same time for hydrogen energy industry financing efficiency. This paper used the data envelopment analysis (DEA) model and the Malmquist index to measure the financing efficiency of 70 hydrogen energy listed enterprises in China from 2014 to 2020 from both static and dynamic perspectives. Then, a tobit model was constructed to explore the influence of external environment and internal factors on the financing efficiency. The contributions of this paper are studying the internal and external financing environments, and integrating financing cost efficiency and capital allocation efficiency into the financing efficiency of hydrogen energy enterprises. The results show that, firstly, the financing efficiency of China’s hydrogen energy listed enterprises showed an upward trend during the years 2014–2020. Secondly, China’s hydrogen energy enterprises mainly gather in the eastern coastal areas, and their financing efficiency is more than that in western areas. Thirdly, the regional economic development level, enterprise scale, financing structure, capital utilization efficiency and profitability have significant effects on the financing efficiency. These results can promote the achievement of “carbon neutrality” in China.

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Section: Dea Model For Hydrogen Energy Financing Efficiency Evaluationmentioning

confidence: 99%

Section: Dea Model For Hydrogen Energy Financing Efficiency Evaluationmentioning

confidence: 99%

Financing Efficiency Evaluation and Influencing Factors of Hydrogen Energy Listed Enterprises in China

et al. 2022

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“…Environmental efficiency of sustainable development goals (SDGs) of 21 Latin America and Caribbean (LAC) countries are considered from 2012-2020. LAC is a region in transition economically [19], and environmentally [30]. The energy and environmental issues facial LAC is crucial to its ability to attain the SDGs.…”

Section: Environmental Efficiency Of Sustainable Development Goals Ca...mentioning

confidence: 99%

“…As a result, SDEA reflects these variations in efficiency scores. A DMU that is rated as efficient relative to others in DEA, could be inefficient in SDEA, and vice versa [18,19].…”

Section: Introductionmentioning

confidence: 99%

Improving weak efficiency frontier in a variable returns to scale stochastic data envelopment analysis model

Forghani¹,

Ibrahim

Daneshvar³

2022

RAIRO-Oper. Res.

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The conventional stochastic data envelopment analysis (SDEA) model suffers from biased efficiency scores for units located at the weak efficient frontier or compared to the weak frontier. This study modifies the weak efficient hyperplane(s) while maintaining the general production function by restricting the gradients of weak efficient hyperplanes in the original model using facet analysis. Empirical analysis on environmental efficiency of sustainable development goals validates the results of the modification. Results of the modified model compared to the conventional model show change in efficiency scores of weak efficient units and those compared to the weak part of the frontier while the efficiency scores of the strong efficient frontier remain the same. Furthermore, the proposed model shows greater discriminatory power compared to the conventional model, hence, providing a reliable benchmark and improvement strategy post efficiency analysis.

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“… 2 DEA (Charnes et al 1978 ; Banker et al 1984 ) has also been widely used in various application areas, inter alia, economic efficiency performance of countries (Koengkan et al 2022 ), resource and energy efficiency of countries (Kazemzadeh et al 2022 ), human development index (Despotis 2005 ; Lozano and Gutierrez 2008 ), and strategy (Saen and Azadi 2009 ). See Emrouznejad et al ( 2008 ) for an excellent survey on the scholarly literature on the evaluation of research in efficiency and productivity.…”

mentioning

confidence: 99%

Data envelopment analysis for scale elasticity measurement in the stochastic case: with an application to Indian banking

2023

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In the nonparametric data envelopment analysis literature, scale elasticity is evaluated in two alternative ways: using either the technical efficiency model or the cost efficiency model. This evaluation becomes problematic in several situations, for example (a) when input proportions change in the long run, (b) when inputs are heterogeneous, and (c) when firms face ex-ante price uncertainty in making their production decisions. To address these situations, a scale elasticity evaluation was performed using a value-based cost efficiency model. However, this alternative value-based scale elasticity evaluation is sensitive to the uncertainty and variability underlying input and output data. Therefore, in this study, we introduce a stochastic cost-efficiency model based on chance-constrained programming to develop a value-based measure of the scale elasticity of firms facing data uncertainty. An illustrative empirical application to the Indian banking industry comprising 71 banks for eight years (1998–2005) was made to compare inferences about their efficiency and scale properties. The key findings are as follows: First, both the deterministic model and our proposed stochastic model yield distinctly different results concerning the efficiency and scale elasticity scores at various tolerance levels of chance constraints. However, both models yield the same results at a tolerance level of 0.5, implying that the deterministic model is a special case of the stochastic model in that it reveals the same efficiency and returns to scale characterizations of banks. Second, the stochastic model generates higher efficiency scores for inefficient banks than its deterministic counterpart. Third, public banks exhibit higher efficiency than private and foreign banks. Finally, public and old private banks mostly exhibit either decreasing or constant returns to scale, whereas foreign and new private banks experience either increasing or decreasing returns to scale. Although the application of our proposed stochastic model is illustrative, it can be potentially applied to all firms in the information and distribution-intensive industry with high fixed costs, which have ample potential for reaping scale and scope benefits.

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Measuring the economic efficiency performance in Latin American and Caribbean countries: An empirical evidence from stochastic production frontier and data envelopment analysis

Cited by 28 publications

References 44 publications

Financing Efficiency Evaluation and Influencing Factors of Hydrogen Energy Listed Enterprises in China

Financing Efficiency Evaluation and Influencing Factors of Hydrogen Energy Listed Enterprises in China

Improving weak efficiency frontier in a variable returns to scale stochastic data envelopment analysis model

Data envelopment analysis for scale elasticity measurement in the stochastic case: with an application to Indian banking

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