An Analysis of Agricultural Production Efficiency of Yangtze River Economic Belt Based on a Three-Stage DEA Malmquist Model

The Yangtze River Economic Belt (YREB) is a major national strategic development area in China, and the development of the YREB will greatly promote the development of the entirety China, so research on its agricultural production efficiency is also of great significance. This paper is committed to studying the agricultural production efficiency of 11 provinces in the YREB and adopts a combination of the Data Envelopment Analysis (DEA) model and the Malmquist index to make a dynamic and static analysis on the YREB’s agricultural production efficiency from 2010 to 2019. Then, a three-stage DEA Malmquist model that eliminates the factors of random interference and management inefficiency is compared to a model without elimination. The results show that the adjusted technological efficiency changes, technological progress, and total factor productivity increased by −0.1%, 0.24%, and 0.22%, respectively. When comparing these values to the pre-adjustment values, the results indicate that the effect of environmental variables cannot be ignored when studying the agricultural production efficiency of the YREB. At the same time, the differences in the agricultural production efficiency in the YREB are reasonably explained, and feasible suggestions are put forward.

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

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.

PERFORMANCE OF CZECH FOOTBALL CLUBS: MALMQUIST INDEX APPROACH

Sport has become an important part of our lives in the modern times and sporting sites contribute significantly to the image and texture of modern cities. Regarding the popularity of sport, and football in particular, it has become an important modern place where specific types of economic and social interaction take place. The aim of this article is to propose a method for evaluating the performance of football clubs based on DEA and Malmquist index. Professional Czech football clubs playing in the Czech football competition Fortuna:Liga were selected for empirical analysis. To analyze the relative efficiency of football clubs, BCC and CCR models were employed. The study was conducted on a sample of 20 clubs through 2 inputs and 1 output collected during the 2015/16 – 2019/20 seasons. For some clubs the values of the Malmquist index were calculated. With help of MI it was possible to quantify the total productivity change factor and to decompose it to technological change and technical efficiency change. The results show that Czech football clubs achieved a relatively high level of efficiency in the period monitored and that traditional clubs achieved the highest efficiency score. These results could help club managers improve the performance of their teams.

Efficiency and productivity of the Brazilian banks: A new approach based on two-stage network DEA

This article creates a conceptual model, called a network system, to represent the Brazilian banking production system, based on its internal operational processes. The first, called the intermediation process, measures a bank's efficiency in extending loans from its available resources. The second, called the revenue process, measures a bank's efficiency in earning profit, mainly from loans granted. We adopt a two-stage DEA model. In the first stage, a relational network DEA model measures both the network system efficiency scores and internal processes. This technique, associated with the Malmquist Index, assesses performance changes over time. In the second stage, these efficiency scores are considered dependent variables, such that Tobit models can determine how the Brazilian credit market's characteristics can explain the network system and internal processes' efficiency. Results show not only a growing trend toward greater efficiency in the revenue process, but also an increase in productivity accompanied by a decline in the intermediation process technology. Given the high banking spreads in Brazil, these results indicate deterioration in the quality of the credit portfolio and the prospect of future insolvency. We discuss implications of this scenario for domestic banks and collateral policy.

Productivity assessment of the real estate industry in China: a DEA-Malmquist index

PurposeThe high-quality development of the real estate industry is crucial to the transformation of China's economy. However, few studies apply the productivity to explore the development path of the real estate industry in China. To fill this gap, this study mainly investigates the total factor productivity (TFP) of the real estate industry of 30 sample provinces in mainland China from 2007 to 2016.Design/methodology/approachThe Malmquist index is applied to estimate the productivity (i.e. TFP) of the real estate industry, based on the data envelopment analysis (DEA). Then, the truncated tobit regression analysis explores the external influencing factors on the TFP of the real estate industry.FindingsThrough empirical analysis, it is found that the high-quality development of the real estate industry depends on the technological innovation by the real estate enterprises and the targeted policies by the provincial government. Moreover, the development of the real estate industry has a positive correlation with the growth of China's economy but a negative correlation with the development of other industries.Practical implicationsTFP mainly reveals the development status of the provincial real estate industry and identifies the driving force for exploring the high-quality development mode of the real estate sector. Furthermore, the fluctuation rule of TFP can be applied to predict the development trend of the real estate industry in the future.Originality/valueAs an application, this study measures the TFP of the Chinese real estate industry in different provinces and periods. The results have meaningful policy implications for policymakers regulating the real estate industry.

Evaluation and Influence of Chinese Enterprises' Financial Efficiency Based on the Malmquist Index

This paper introduces a superefficiency financial efficiency model with undesirable output based on the features that the output of industrial enterprises contains desirable output as well as undesirable output. Furthermore, the Malmquist index model is constructed for financial efficiency dynamic study, and the spatial Durbin model is constructed for evaluation and impact of enterprises. According to the financial data of Chinese enterprises from 2007 to 2019, this paper evaluates the financial efficiency of Chinese interprovincial industrial enterprises dynamically and measures the influence levels of major impacts on the financial efficiency of Chinese interprovincial industrial enterprises quantitatively. As reported by this paper, the conclusions are as follows: (1) In reference to the financial efficiency dynamic study analysis, there is an obvious growth trend in the financial efficiency of Chinese interprovincial industrial enterprises in different years. Based on the horizontal analysis of financial efficiency, there is a relatively large gap in financial efficiency among Chinese interprovincial industrial enterprises. (2) From the separation factors of financial efficiency analysis, the main factor affecting the growth of the financial efficiency of Chinese industrial enterprises is the modification of technology, and the modification of technical efficiency has a minor impact. (3) In accordance with the impacts of enterprise efficiency analysis, several major factors influence the financial efficiency of Chinese industrial enterprises such as major business cost, operating profit, total liabilities, national capital, and the number of R&D personnel.

International acquisitions on efficiency and productivity of the Serbian cement industry

PurposeThis paper explores the impact of international acquisitions on the efficiency and productivity of the cement industry in an emerging economy.Design/methodology/approachThe data envelopment analysis (DEA) and Malmquist index (MI) are used to calculate the partial efficiency and productivity of individual inputs (materials, labour and fixed assets), as well as the total factor efficiency and productivity during the period 2000–2018. DEA and MI are combined with bootstrapping to perform succinct statistical inferences for determining the accuracy of results. In this paper we apply the input-oriented CCR DEA Window model. With respect to the level of analysis, data was collected from individual companies and then aggregated data at the industry level.FindingsThe research results show that international acquisitions positively affect efficiency of the cement industry in the long term. Efficiency of capital is lower in the short period after acquisitions. Additionally, international acquisitions positively affect partial productivity, as well as total factor productivity of the cement industry.Practical implicationsThe results of the study may be significant for managers and policy makers to design appropriate strategies for the improvement of the cement industry performance over time.Originality/valueResearch in emerging economies related to subject matter is limited, and this is one of the earliest research studies which explore change in efficiency and productivity at the level of Serbian cement industry.

Research on Eco-Efficiency of 11 Cities in Zhejiang Province: Based on the Perspective of High Quality Development

Ecological efficiency (Eco-efficiency) index well represents the quality of regional development and measures the extensive or intensive development mode of a region. The traditional concept of Eco-efficiency refers to the maximum economic benefits through the minimum resource cost and environmental load. This paper argues that the goal of Eco-efficiency evaluation is not only to maximize economic benefits, but also to achieve high-quality development in many aspects such as society, science & technology and economy, so that people can enjoy the results of development.In this paper, the Eco-efficiency input indicators comprehensively considers the consumption of manpower, resources, energy and capital, and negative environmental benefits including waste gas, waste water and waste residue. Output indicators comprehensively consider the five high-quality development dimensions----innovation, coordination, green, openness and sharing, which are represented by indicators such as patents, total import and export, the number of patent, regional Theil index, disposable income, three waste emissions et al. .In terms of empirical research, the SBM model of undesirable output super-efficiency under the assumption of variable returns to scale is established to measure the Eco-efficiencies of 11 cities in Zhejiang Province. Secondly, Malmquist index model is estalished to study the temporal and spatial changes of Eco-efficiencies. Finally, the panel Tobit method is used for regression analysis to study the key factors affecting the Eco-efficiency of Zhejiang Province. The results show that the industrialization structure, economic level and export trade significantly positively correlated with Eco-efficiency. Urbanization level is significantly negatively correlated with Eco-efficiency.