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政大機構典藏 > 商學院 > 金融學系 > 期刊論文 > Item 140.119/70784

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Title:	A new approach to estimating the metafrontier production function based on a stochastic frontier framework
Authors:	黃台心 Huang,Cliff J.;Huang,Tai-Hsin;Liu,Nan-Hung
Contributors:	金融系
Keywords:	Metafrontier;Technical efficiency;Technology gap;Environmental variables
Date:	2014.07
Issue Date:	2014-10-24 18:01:09 (UTC+8)
Abstract:	This paper proposes a new two-step stochastic frontier approach to estimate technical efficiency (TE) scores for firms in different groups adopting distinct technologies. Analogous to Battese et al. (J Prod Anal 21:91–103, 2004), the metafrontier production function allows for calculating comparable TE measures, which can be decomposed into group specific TE measures and technology gap ratios. The proposed approach differs from Battese et al. (J Prod Anal 21:91–103, 2004) and O’Donnell et al. (Empir Econ 34:231–255, 2008) mainly in the second step, where a stochastic frontier analysis model is formulated and applied to obtain the estimates of the metafrontier, instead of relying on programming techniques. The so-derived estimators have the desirable statistical properties and enable the statistical inferences to be drawn. While the within-group variation in firms’ technical efficiencies is frequently assumed to be associated with firm-specific exogenous variables, the between-group variation in technology gaps can be specified as a function of some exogenous variables to take account of group-specific environmental differences. Two empirical applications are illustrated and the results appear to support the use of our model.
Relation:	Journal of Productivity Analysis , 42(3), 241-254
Data Type:	article
Appears in Collections:	[金融學系] 期刊論文

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