scholarly journals Different contracts in the Civil Code for different organizations in the market: comparing co-operative and stock banks using a cost frontier approach

2010 ◽  
Vol 6 (4) ◽  
pp. 543-567
Author(s):  
GILBERTO TURATI
Keyword(s):  
Empirical Test ◽  
Empirical Support ◽  
Incentive Structure ◽  
Cost Frontier ◽  
Second Stage ◽  
Incentive Structures ◽  
Complex Organization ◽  
Using Data ◽  
Stage Analysis

Abstract:In this paper, I propose an empirical test of the main prediction of the theoretical literature on the firm as an incentive structure using data on the Italian markets, where two types of co-operative banks co-exist together with stock banks. I estimate a standard translog cost frontier and I derive cost efficiency scores. Kruskall–Wallis tests indicate that mean efficiency scores are statistically different among the three types of banks, providing empirical support to the theoretical prediction that different organizations represent different incentive structures. Moreover, co-operatives banks appear more efficient than stock banks. These results are robust also after controlling for the size of banks and the quality of their credit policies in a second-stage analysis. Hence, the efficiency gains stemming from the presence of scale economies seem to be dominated by the efficiency losses caused by the agency relationships within the bank in a more complex organization.

scholarly journals Evaluation of Efficiency and Its Determinants in Croatian Hotel Industry

2021 ◽  
Vol 9 ◽  
pp. 108-115
Author(s):  
Maja Pervan ◽  
Petra Babic
Keyword(s):  
Regression Analysis ◽  
Hotel Industry ◽  
Medium Size ◽  
Data Envelopment ◽  
Truncated Regression ◽  
Independent Variables ◽  
Second Stage ◽  
Using Data ◽  
Stage Analysis ◽  
First Time

The main objective of this research was to evaluate the efficiency of Croatian hotels and provide insights into the sources of their efficiency. In order to obtain set goals, a two-stage analysis was performed on a sample of 69 large and medium-size hotels that were operating in Croatia in 2019. In the first stage of analysis, the efficiency scores of hotels were obtained by using Data envelopment analysis (DEA), whereas in the second stage of analysis, achieved efficiency coefficients were served as dependent variable in a truncated regression model in which hotel’s ownership, age, location, size and star rating were applied as independent variables. As this is the first time that efficiency of Croatian hotel industry is investigated with the application of truncated regression analysis, this research contributes to the existing literature by shading new lights on the sources of hotels’ efficiency from the perspective of a country heavily relaying on seasonal seaside tourism. Results of the research showed that all analysed variables (except age) play significant and important role in determining the achieved level of efficiency.

scholarly journals ANALISIS EFISIENSI PENGGUNAAN DANA MASYARAKAT UNTUK KEGIATAN DHARMA PENDIDIKAN DI INSTITUT PERTANIAN BOGOR

2018 ◽  
Vol 20 (3) ◽  
pp. 352
Author(s):  
Mohammad Nur Hadi, Hermanto Siregar, Hendro Sasongko
Keyword(s):  
Data Envelopment Analysis ◽  
Academic Staff ◽  
Data Envelopment ◽  
Tobit Regression ◽  
Academic Factors ◽  
Second Stage ◽  
Financial Factors ◽  
Measuring Efficiency ◽  
Using Data ◽  
Stage Analysis

This study focuses on measuring efficiency of all departements in Bogor Agricultural Institute using Data Envelopment Analysis (DEA) on the first stage and second stage is to determine the factors that influence the efficiency . DEA methodology is to evaluate the efficiency by comparing the all departement and using financial as an inputs and non-financial factors as an outputs. Second stage analysis using tobit regression because dependent factors are cencored between 0 to1 and independent factors uncencored. The results of first stage demonstrate that 54,29 % of departements in Bogor Agricultural University is efficiently operated in terms of academic factors during the period from 2012 to 2014, while 45,71 % is inefficient. And for the second stage the result are international accreditation and non academic staff are the factors can influence the efficiency of departements.

scholarly journals ANALISIS EFISIENSI PENGGUNAAN DANA MASYARAKAT UNTUK KEGIATAN DHARMA PENDIDIKAN DI INSTITUT PERTANIAN BOGOR

2017 ◽  
Vol 20 (1) ◽  
pp. 72
Author(s):  
Mohamad Nur Hadi ◽  
Hermanto Siregar ◽  
Hendro Sasongko
Keyword(s):  
Data Envelopment Analysis ◽  
Academic Staff ◽  
Data Envelopment ◽  
Tobit Regression ◽  
Academic Factors ◽  
Second Stage ◽  
Financial Factors ◽  
Measuring Efficiency ◽  
Using Data ◽  
Stage Analysis

This study focuses on measuring efficiency of all departements in Bogor Agricultural Institute using Data Envelopment Analysis (DEA) on the first stage and second stage is to determine the factors that influence the efficiency. DEA methodology is to evaluate the efficiency by comparing the all departement and using financial as an inputs and non-financial factors as an outputs. Second stage analysis using tobit regression because dependent factors are cencored between 0 to 1 and independent factors uncencored. The results of first stage demonstrate that 54,29 % of departements in Bogor Agricultural University is efficiently operated in terms of academic factors during the period from 2012 to 2014, while 45,71 % is inefficient. DEA results also show that the Department of gain increasing and decreasing on the time between 2012-2014, the increasing Department is 29% from the total Department, while the decreasing is 20% and the rest always obtain a good level of efficiency. Second stage the result are international accreditation and non academic staff are the factors can influence the efficiency of departements.

Analyzing Africa's Total Factor Productivity Trends

2020 ◽  
pp. 128-146
Author(s):  
Chali Nondo ◽  
Juan R Jaramillo
Keyword(s):  
Data Envelopment ◽  
Truncated Regression ◽  
African Countries ◽  
Second Stage ◽  
Tfp Growth ◽  
Dependent Variables ◽  
Malmquist Indices ◽  
Productivity Indices ◽  
Using Data

Using data envelopment analysis (DEA), the authors investigate the productivity changes of 42 African countries by computing the Malmquist productivity indices. Subsequently, the measured Malmquist productivity indices become the dependent variables of a pooled truncated regression. The point estimates of the Malmquist indices indicate that TFP improved at an annual rate of 1.97% over the period 1992-2007. The decomposition of TFP shows that the major contribution of TFP growth is technological progress. Nevertheless, technical efficiency also appears to be trending upwards. Therefore, these results suggest that contrary to the dominant view in previous studies, Africa's TFP since the early 1990s has been accompanied by positive technological change rather than stagnation. The second stage results suggest that improving the quality of human capital and FDI not only augments the quality of labor, but also indirectly improves TFP. Regression results also show that an increase in openness positively affects TFP growth as this facilitates adoption of more efficient techniques of production.

scholarly journals Multi-Image Robust Alignment of Medium-Resolution Satellite Imagery

2018 ◽  
Vol 10 (12) ◽  
pp. 1969 ◽  
Author(s):  
Marco Scaioni ◽  
Luigi Barazzetti ◽  
Marco Gianinetto
Keyword(s):  
Real Data ◽  
Second Stage ◽  
Bundle Block Adjustment ◽  
Medium Resolution ◽  
Feature Based ◽  
Alternative Procedures ◽  
Using Data ◽  
Image Pairs ◽  
Available Information

This paper describes an automatic multi-image robust alignment (MIRA) procedure able to simultaneously co-register a time series of medium-resolution satellite images in a bundle block adjustment (BBA) fashion. Instead of the direct co-registration of each image with respect to a reference ‘master’ image on the basis of corresponding features, MIRA also considers those tie points that may be not be shared with the master, but they only connect the other images (‘slaves’) among them. In a first stage, tie points are automatically extracted by using pairwise feature-based matching based on the SURF operator. In a second stage, such extracted features are re-ordered to find corresponding tie points visible on multiple image pairs. A ‘master’ image is then selected with the only purpose to establish the datum of the final image alignment and to instantiate the computation of approximate registration parameters. All the available information obtained so far is fed into a least-squares BBA to estimate the unknowns, which include the registration parameters and the coordinates of tie points re-projected in the ‘master’ image space. The analysis of inner and outer reliability of the observations is applied to assess whether the residual blunders may be located using data snooping, and to evaluate the influence of undetected outliers on the final registration results. Three experiments with simulated datasets and one example consisting of eleven Landsat-5/TM images are reported and discussed. In the case of real data, results have been positively checked against the ones obtained by using alternative procedures (BBA with manual measurements and ‘slave-to-master’ registration based on automatically extracted tie points). These experiments have confirmed the correctness of the MIRA approach and have highlighted the potential of the inner control on the final quality of the solution that may come from the reliability analysis.

Analyzing Africa's Total Factor Productivity Trends

2018 ◽  
Vol 7 (4) ◽  
pp. 45-61
Author(s):  
Chali Nondo ◽  
Juan R Jaramillo
Keyword(s):  
Data Envelopment ◽  
Truncated Regression ◽  
African Countries ◽  
Second Stage ◽  
Tfp Growth ◽  
Point Estimates ◽  
Malmquist Indices ◽  
Productivity Indices ◽  
Using Data

Using data envelopment analysis (DEA), the authors investigate the productivity changes of 42 African countries by computing the Malmquist productivity indices. Subsequently, the measured Malmquist productivity indices become the dependent variables of a pooled truncated regression. The point estimates of the Malmquist indices indicate that TFP improved at an annual rate of 1.97% over the period 1992-2007. The decomposition of TFP shows that the major contribution of TFP growth is technological progress. Nevertheless, technical efficiency also appears to be trending upwards. Therefore, these results suggest that contrary to the dominant view in previous studies, Africa's TFP since the early 1990s has been accompanied by positive technological change rather than stagnation. The second stage results suggest that improving the quality of human capital and FDI not only augments the quality of labor, but also indirectly improves TFP. Regression results also show that an increase in openness positively affects TFP growth as this facilitates adoption of more efficient techniques of production.

Quality of Governance at the Communal Level in Poland: an Exploratory Study of the Worst Performer Case From the Opolskie Province

2020 ◽  
Vol 21 (1) ◽  
pp. 22-55
Author(s):  
Bartosz Czepil
Keyword(s):  
Exploratory Study ◽  
Quality Index ◽  
Extreme Case ◽  
Quality Level ◽  
Case Method ◽  
Major Conclusion ◽  
Second Stage ◽  
Quality Of Governance ◽  
Governance Quality

The objective of this paper is an attempt to explain the determinants of the lowest governance quality level in one of the communes of the Opolskie Province, Poland. The first stage of the research consisted in developing a commune-level governance quality index in order to measure the quality of governance in the 60 communes of the Opolskie Province. Subsequently, the commune with the lowest score in the index was qualified for the second stage of the research which was based on the extreme case method. The major conclusion from the research is that the commune leader's governance style which allowed him to hold on to power for many terms of office was responsible for generating low governance quality. Furthermore, the low quality of governance was not only the effect of the governance style but also the strategy aimed at remaining in the commune leader office for many terms.

Effect of networks on product innovation: empirical evidence from Indonesian SMEs

2013 ◽  
Vol 1 (2) ◽  
pp. 140-158 ◽  
Author(s):  
Nurul Indarti ◽  
Theo Postma
Keyword(s):  
Empirical Evidence ◽  
Product Innovation ◽  
Dynamic Effects ◽  
Depth Of Knowledge ◽  
External Knowledge ◽  
Software Firms ◽  
Using Data

Innovative companies generally establish linkages with other actors and access external knowledge in order to benefit from the dynamic effects of interactive processes. Using data from 198 furniture and software firms in Indonesia, this study shows that the quality of interaction (i.e. multiplexity) as indicated by the depth of knowledge absorbed from various external parties and intensity of interaction (i.e., tie intensity) are better predictors of product innovation than the diversity of interaction.

Treatment Peculiarity of the Chronic Trophic Ulcers with Different Pathogenic Mechanism

2020 ◽  
Vol 62 (1) ◽  
pp. 12-16
Author(s):  
Oksana K. Melekhovets ◽  
Tetyana O. Kharchenko ◽  
Victor F. Orlovskiy ◽  
Iuirii V. Melekhovets ◽  
Alevtina S. Radko ◽  
...  
Keyword(s):  
Photodynamic Therapy ◽  
Healing Process ◽  
Modern Medicine ◽  
Lower Limbs ◽  
Chronic Venous Disease ◽  
Venous Disease ◽  
Second Stage ◽  
Group 2

Introduction: Trophic ulcers of the lower extremities are an unresolved problem of modern medicine. The treatment of this pathology requires new methods that optimize care regimens and improve patients’ quality of life. Aim: The study to improve efficacy of treatment of the patients with trophic ulcers of the lower limbs with consideration to pathogenesis. M aterials and Methods: The study included 32 patients with chronic venous disease C6 (1st group) and 31 with diabetes mellitus type 2, moderate severity, compensation stage with diabetic foot syndrome II stage according to Wagner’s classification (2nd group). In addition to basic therapy in both groups photodynamic therapy was added at the first stage of the study, and at the second stage plasma rich in growth factors was prescribed. Results: At baseline evaluating of the chronic venous disease demonstrates that a total score in patient of the 1st group was 20,9 points on a modified VCSS scale; after two weeks – 15,71 points (improvement by 24.83%), and 6 weeks after–9,72 points (improvement by 53.49%). In patients with DM (2nd group) at the baseline a total score average was 13,91 points according to S(AD)SAD-1 scale; after 2 weeks – 12,29 (improvement by 11,65%), after 6 weeks – 6,39 points (improvement by 54,06%). Conclusions: The inclusion of photodynamic therapy and plasmatherapy in complex therapy in both groups led to a significant improvement of the healing process and helps to reduce the depth and area of the wound surface. However, the wound healing in patients in group 2 was slower.

Founding Family Ownership and the Selection of Industry Specialist Auditors

2014 ◽  
Vol 28 (2) ◽  
pp. 261-276 ◽  
Author(s):  
Fei Kang
Keyword(s):  
Financial Reporting ◽  
Family Firms ◽  
Structure And Agency ◽  
Founding Family ◽  
Using Data ◽  
Dual Class Shares ◽  
Dual Class ◽  
Selection Of ◽  
Industry Specialist

SYNOPSIS This study examines how family firms' unique ownership structure and agency problems affect their selection of industry-specialist auditors. Using data from Standard & Poor's (S&P) 1500 firms, the results show that family firms are more likely to appoint industry-specialist auditors than non-family firms, which suggests that family firms have strong incentives to signal the quality of financial reporting. Additional analysis indicates that due to the potential entrenchment problems, family firms with family member CEOs or with dual-class shares have even a higher tendency to hire industry-specialist auditors to signal their disclosure quality.

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