Determinants of firm-level technical efficiency: evidence using stochastic frontier approach

Autor:	Niels Mygind, Derek C. Jones, Evis Sinani
Rok vydání:	2008
Předmět:	industriøkonomi ComputingMilieux_THECOMPUTINGPROFESSION Financial economics Stochastic frontier ComputingMilieux_LEGALASPECTSOFCOMPUTING markedseffektivitet Ownership structure General Business Management and Accounting Technical efficiency Frontier Ejerformer Economics Estland Privatisering
Zdroj:	Corporate Ownership and Control. 5:225-239
ISSN:	1810-3057 1727-9232 1993-1999
DOI:	10.22495/cocv5i3c1p7
Popis:	By estimating stochastic frontiers we investigate the determinants and dynamics of firm efficiency. We use a representative sample of Estonian firms for the period 1993-1999 – and are able to address problems that plague much previous work, such as the endogeneity of ownership. Our main findings are that: (i) foreign ownership increases technical efficiency; (ii) firm size and higher labor quality enhance efficiency, while soft budget constraints adversely affect efficiency; (iv) Estonian firms operate under constants returns to scale; (v) the percentage of firms operating at high levels of efficiency increases over time. As such our findings provide support for hypotheses that a firm’s ownership structure and its characteristics such as firm size, labor quality, soft budget constraints and time of privatization are important for its technical efficiency.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::df964f32a3cf073f1b2a2b1b8619cf11 https://doi.org/10.22495/cocv5i3c1p7 Zobrazit plný text záznamu