Open AccessPosted Content
Corporate Governance and Firm's Efficiency: The Case of a Transitional Country, Ukraine
Valentin Zelenyuk,Vitaliy Zheka +1 more
TLDR
In this article, the authors look for empirical support for the hypothesis that there is a positive relationship between the levels of corporate governance quality across firms and the relative efficiency levels of these firms.Abstract:
In this study, we look for empirical support for the hypothesis that there is a positive relationship between the levels of corporate governance quality across firms and the relative efficiency levels of these firms. This hypothesis is related to Liebenstein's idea of X-efficiency. We use the data envelopment analysis (DEA)estimator to obtain proxies for X-[in]efficiency of firms in our sample and then analyze them with respect to different ownership structures by comparing distributions and aggregate efficiencies across different groups. We also use truncated regression with bootstrap, following Simar and Wilson (2003), to infer on relationship of inefficiency to various indicators of quality of corporate governance, ownership variables, as well as industry and year specific dummies. The data is coming from 7 industries in Ukraine.read more
Citations
More filters
Journal Article
The OECD Principles of Corporate Governance
TL;DR: Corporate governance is central to the vitality and stability of our economies as mentioned in this paper, and the rules and practices that govern the relationship between the managers and shareholders of corporations, as well as stakeholders like employees and creditors contributes to growth and financial stability by underpinning market confidence, financial market integrity and economic efficiency.
Journal ArticleDOI
Fractional regression models for second stage DEA efficiency analyses
TL;DR: In this paper, the authors argue that traditional linear or to-bit approaches to second-stage DEA analysis do not constitute a reasonable data-generating process for DEA scores and use fractional regression models to model bounded, proportional response variables such as DEA scores.
Journal ArticleDOI
An evaluation of European airlines’ operational performance
TL;DR: This paper uses data envelopment analysis (DEA) to evaluate the operational performance of a sample of AEA--Association of European Airlines from 2000 to 2005, combining operational and financial variables.
Posted Content
Performance of French destinations: Tourism attraction perspectives
Carlos Pestana Barros,Laurent Botti,Nicolas Peypoch,Elisabeth Robinot,Bernardin Solonandrasana,Albert Assaf +5 more
TL;DR: In this paper, the authors assess and compare the performance of French tourism destinations, using the Data Envelopment Analysis (DEA) two-stage procedure, where in the first stage the efficiency score are calculated, and then followed in the second stage by a bootstrapped truncated regression model.
Posted Content
On testing equality of distributions of technical efficiency scores
Léopold Simar,Valentin Zelenyuk +1 more
TL;DR: In this paper, the authors investigate the possibility of using existing tests for equality of two distributions for such a context, and consider several approaches to adapt the Li (1996) test to the context and explore their performance in terms of the size and the power of the test.
References
More filters
Journal ArticleDOI
Theory of the firm: Managerial behavior, agency costs and ownership structure
TL;DR: In this article, the authors draw on recent progress in the theory of property rights, agency, and finance to develop a theory of ownership structure for the firm, which casts new light on and has implications for a variety of issues in the professional and popular literature.
Journal ArticleDOI
Measuring the efficiency of decision making units
TL;DR: A nonlinear (nonconvex) programming model provides a new definition of efficiency for use in evaluating activities of not-for-profit entities participating in public programs and methods for objectively determining weights by reference to the observational data for the multiple outputs and multiple inputs that characterize such programs.
BookDOI
Density estimation for statistics and data analysis
TL;DR: The Kernel Method for Multivariate Data: Three Important Methods and Density Estimation in Action.
Posted Content
A Survey of Corporate Governance
TL;DR: The authors surveys research on corporate governance, with special attention to the importance of legal protection of investors and of ownership concentration in corporate governance systems around the world, and presents a survey of the literature.