scholarly journals EVALUATION OF FIRMS OF AGRICULTURE AND FOOD SECTORS QUOTED AT BORSA İSTANBUL (BİST) BY DEA-BASED MALMQUIST TOTAL FACTOR PRODUCTIVITY INDEX

2017 ◽  
Vol 16 (1) ◽  
pp. 73-82 ◽  
Author(s):  
Ali Öztop ◽  
Harun Uçak
Keyword(s):  
Total Factor Productivity ◽  
Malmquist Index ◽  
Efficient Frontier ◽  
Productivity Index ◽  
Productivity Change ◽  
Efficiency Frontier ◽  
Factor Productivity ◽  
Productivity Losses ◽  
Food And Agriculture ◽  
Agriculture And Food

This study applies a DEA-based Malmquist index to measure technical efficiency and total factor productivity change of food and agriculture firms quoted at Borsa İstanbul (BİST) over the 2010–2015 period. We have investigated efficiency scores of firms using financial ratios. The study shows that, average Malmquist index score is 16.9% below efficiency frontier. Also, four of the twenty-three firms’ (KRSAN, KENT, TUKAS and ULKER) Malmquist total factor productivity (MTFP) ratio above the efficient frontier. The results indicate that nineteen out of twenty-three firms (82.6%) experienced productivity losses in the examined period.

scholarly journals Total Factor Productivity Growth of Indian General Insurance Companies in the Recent Period: A Bootstrapped Approach

2019 ◽  
Vol 11 (1-2) ◽  
pp. 59-80
Author(s):  
Ram Pratap Sinha
Keyword(s):  
Private Sector ◽  
Total Factor Productivity ◽  
Productivity Growth ◽  
Malmquist Index ◽  
American Economic Review ◽  
Productivity Index ◽  
Insurance Companies ◽  
Productivity Change ◽  
Productivity Analysis ◽  
Factor Productivity

This study estimates Malmquist index of total factor productivity change of 14 major general insurers in India over the period 2009–10 to 2016–17 over 7 annual windows. The study decomposes total factor productivity index into its constituent components, using several approaches including Färe et al. (1989, Productivity Developments in Swedish Hospitals: A Malmquist Output Index Approach. Carbondale: Department of Economics, Southern Illinois University; 1992, Journal of Productivity Analysis 3(1): 85–101), Färe et al. (1994, American Economic Review 84(1): 66–83), Ray and Desli (1997, American Economic Review 87(5): 1033–39) and Wheelock and Wilson (1999, Journal of Money, Credit and Banking 31(2): 212–23). Furthermore, the study uses bootstrap data envelopment analysis (DEA) method to obtain bias-corrected point and interval estimates of Malmquist index and its components. Finally, the study makes a comparison of productivity performance between public and private sector insurers. The results indicate a modest growth in total factor productivity during the period contributed mainly by efficiency changes. The private sector insurers performed better than the public sector in terms of productivity growth. The variations in productivity performance indicate that insurer scale of activity can affect their performance. JEL Classification: G-23, C-61, D-21

scholarly journals Industry Efficiency and Total Factor Productivity Growth under Resources and Environmental Constraint in China

2012 ◽  
Vol 2012 ◽  
pp. 1-10 ◽  
Author(s):  
Feng Tao ◽  
Ling Li ◽  
X. H. Xia
Keyword(s):  
Energy Consumption ◽  
Total Factor Productivity ◽  
Environmental Efficiency ◽  
Pollutant Emissions ◽  
Productivity Index ◽  
Productivity Change ◽  
Factor Productivity ◽  
Energy And Environment ◽  
Capital Labor Ratio ◽  
Investment Capital

The growth of China's industry has been seriously depending on energy and environment. This paper attempts to apply the directional distance function and the Luenberger productivity index to measure the environmental efficiency, environmental total factor productivity, and its components at the level of subindustry in China over the period from 1999 to 2009 while considering energy consumption and emission of pollutants. This paper also empirically examines the determinants of efficiency and productivity change. The major findings are as follows. Firstly, the main sources of environmental inefficiency of China's industry are the inefficiency of gross industrial output value, the excessive energy consumption, and pollutant emissions. Secondly, the highest growth rate of environmental total factor productivity among the three industrial categories is manufacturing, followed by mining, and production and supply of electricity, gas, and water. Thirdly, foreign direct investment, capital-labor ratio, ownership structure, energy consumption structure, and environmental regulation have varying degrees of effects on the environmental efficiency and environmental total factor productivity.

scholarly journals KOMPARASI EFISIENSI & PRODUKTIVITAS PERUSAHAAN ASURANSI JIWA KONVENSIONAL DAN SYARIAH DI INDONESIA PADA TAHUN 2014 – 2017, DENGAN PENDEKATAN DEA & INDEKS MALMQUIST

2020 ◽  
Vol 6 (9) ◽  
pp. 1877
Author(s):  
Oky Suryoaji ◽  
Eko Fajar Cahyono
Keyword(s):  
Data Envelopment Analysis ◽  
Total Factor Productivity ◽  
Malmquist Index ◽  
Productivity Change ◽  
Data Envelopment ◽  
Factor Productivity ◽  
Constant Return

Tujuan penelitian ini adalah untuk mengetahui tingkat efisiensi dan produktivitas perusahaan asuransi jiwa antara konvensional dan syariah (baik Unit Usaha Syariah maupun Full Fledge) periode 2014 – 2017. Penelitian ini menggunakan pendekatan kuantitatif dengan metode non parametrik DEA (Data Envelopment Analysis) yang dilandaskan dengan asumsi CRS (Constant Return to Scale) dan VRS (Variable Return to Scale) dan Indeks Malmquist asumsi TFPC (Total Factor Productivity Change) dengan diolah menggunakan aplikasi DEAP Versi 2.1. Variabel yang digunakan meliputi Total Aset, Beban, Klaim, Premi/Dana Tabrru’, dan Pendapatan. Subjek yang digunakan dalam penelitian ini sebanyak 29 perusahaan asuransi jiwa syariah yang terdiri 10 perusahaan asuransi jiwa syariah dan 19 perusahaan asuransi jiwa konvensional. Hasil penelitian menunjukkan bahwa rata-rata perusahaan asuransi jiwa konvensional dan syariah belum mencapai efisien (CRS) dan rata-rata TFPC perusahaan asuransi jiwa konvensional sudah mencapai produktivitas sementara syariah belum mencapai produktivitas.Keywords:Asuransi Jiwa Syariah, Efisiensi, Produktivitas, Data Envelopment Analysis (DEA), Constant Return to Scale (CRS), Variable Return to Scale (VRS), Malmquist Index (MI), Total Factor Productivity Change (TFPC)

scholarly journals Productivity Change of Microfinance Institutions in Bosnia and Herzegovina

2019 ◽  
Vol 14 (2) ◽  
pp. 23-33
Author(s):  
Velid Efendić ◽  
Nejra Hadžiahmetović
Keyword(s):  
Total Factor Productivity ◽  
Bosnia And Herzegovina ◽  
Malmquist Productivity Index ◽  
Productivity Index ◽  
Productivity Change ◽  
Microfinance Institutions ◽  
Factor Productivity ◽  
Strategic Objectives ◽  
Average Decrease ◽  
Recent Financial Crisis

Abstract The main aim of this paper is to investigate the productivity changes of microfinance institutions (MFIs) in Bosnia and Herzegovina (BiH) during and after the recent financial crisis. The study covers the period starting from 2008 until 2015. Using the Malmquist Productivity Index (MPI) over the sample of 10 MFIs and a balanced panel dataset of 80 observations, this study explores technical and technological change as well as total factor productivity (TFP) change. The empirical findings indicate a decline in TFP in most of the analyzed periods with an average decrease of 2.5%. The study reveals an average technological decline in the industry of 1.7%, while technical efficiency change is recorded at the level of -0.8%. Overall, crisis efficiency recovery occurred during the period between 2009 and 2013. However, due to technological inefficiencies, average total factor productivity change remains negative. Hence, policy makers need to enhance the technological progress in order to meet their strategic objectives in BiH MFIs.

scholarly journals Cost Efficiency and Total Factor Productivity: An Empirical Analysis of Pakistan’s Insurance Sector

2016 ◽  
Vol 21 (1) ◽  
pp. 123-150
Author(s):  
Uzma Noreen ◽  
Shabbir Ahmad
Keyword(s):  
Total Factor Productivity ◽  
Malmquist Index ◽  
Malmquist Productivity Index ◽  
Productivity Index ◽  
Innovative Technology ◽  
Average Score ◽  
Factor Productivity ◽  
Tobit Regression ◽  
Insurance Sector ◽  
The Impact

This study uses data envelopment analysis and the Malmquist index to examine the impact of financial sector reforms on the efficiency and productivity of Pakistan’s insurance sector over the period 2000–09. Our results indicate that the sector is cost-inefficient, with an average score of 58 percent – an outcome of the inappropriate use of inputs. The Malmquist productivity index performs better, indicating an improvement in total factor productivity of about 3 percent on average. The second-stage Tobit regression analysis shows that large firms are relatively inefficient from an allocative perspective as they are unable to equate the marginal product of inputs with their factor prices. Furthermore, the results demonstrate that private firms are more efficient than public firms in the nonlife insurance sector. The empirical findings suggest that a more competitive environment, diversified products and innovative technology could improve the productivity of insurance firms in Pakistan.

Productivity in professional Spanish basketball

2014 ◽  
Vol 4 (3) ◽  
pp. 196-211 ◽  
Author(s):  
Marta Brosed Lázaro ◽  
Manuel Espitia-Escuer ◽  
Lucía I. García-Cebrián
Keyword(s):  
Total Factor Productivity ◽  
Malmquist Index ◽  
Efficient Frontier ◽  
Data Envelopment ◽  
Factor Productivity ◽  
Content Type ◽  
Potential Output ◽  
Productive Function ◽  
Contest Design ◽  
Basketball Teams

Purpose – The purpose of this paper is twofold: first, to evaluate the performance of Spanish first-division basketball teams, in terms of efficiency, by defining previously a productive function and obtaining also their potential output. Second, to examine the total factor productivity evolution having information from several years, which allows us to draw conclusions about the changes in the efficient frontier. Design/methodology/approach – In order to assess the efficiency level and the potential output of each team in the ACB competition, between the season 2008/2009 and 2011/2012, an input-oriented version with constant returns of data envelopment analysis is used. The total factor productivity evolution is studied by employing the values of the Malmquist index. Findings – The main conclusion is that the final position of the Spanish basketball teams depends on the efficiency and any technological progress is needed to maintain themselves on top of rank. Practical implications – Performing on the field efficiently is the best way to increase the profits by generating savings, which minimize costs. This analysis allows us to make a series of observations, comments and conclusions with regard to the management of the budgets and the relationship between efficiency and sports performance. Originality/value – The innovations provided by this paper are the use of a different methodology and a different analysis unit from the previous studies. Moreover, it focuses on European basketball, specifically the Spanish league, which is considered the most powerful league after NBA and whose connection with academic studies is quite limited to date. Finally it tries to incorporate the play-off stage, which is complicated but really interesting because of the contest design of these competitions.

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