Testing Fair Wage Theory

Fairness considerations often are invoked to explain wage differences that appear unrelated to worker characteristics or job conditions, but non-experimental tests of fair wage models are rare because market data rarely permit researchers to measure individual workers’ productivity and its value. We use data from the baseball labor market to address this problem, and find no support for fair wage theory. We do find, however, that fairness premia can be illusory: Wages appear to incorporate fairness premia in regressions that control for variation in individuals’ physical output, but such premia evaporate when the value of that output is held constant.

Efficiency of Microfinance Institutions in the Mediterranean: An Application of DEA

By applying the non-parametric Data Envelopment Analysis (DEA) method, even with all the limitations where error could cause significant problems, this paper attempts to investigate the efficiency of 35 Microfinance institutions in the Mediterranean zone during the period of 2004–2005. The estimated results prove that eight institutions are relatively efficient, and have a notable level of average efficiency and a potential of evolution while being referent to their technical efficiency. The survey also reveals that the size of the MFIs has a negative effect on their efficiency since the MFIs of medium size are more efficient than the eminent.

DEA models for extended two-stage network structures

Liang et al. (2008) [1] developed DEA models based upon game approach to decompose efficiency for two-stage network structures where all outputs of the first stage are the only inputs to the second stage. This paper extends Liang et al. (2008) [1] by assuming that the inputs to the second stage include both the outputs from the first stage and additional inputs to the second stage. Two models are proposed to evaluate the performance of this type general two-stage network structures. One is a non-linear centralized model whose global optimal solutions can be estimated using a heuristic search procedure. The other is a non-cooperative model, in which one of the stages is regarded as the leader and the other is the follower. The newly developed models are applied to a case of regional R&D of China.     

基于DEA的我国省级噩域低碳经济的效率评价研究

本文针对我国30个省级区域低碳化进程中的效率评价问题,以DEA综合效率为主体,技术效率与规模效率为辅助进行测算,结果表明各省级区域低碳经济的综合效率差异明显,总体来看,中部最高,西部次之,东部最低。进一步考察各省级区域低碳经济的规模效率,发现我国多数地区投入水平处于规模效益递增阶段,具有较大发展潜力。通过DEA投影分析,以投入冗余度为依据,对效率水平相对落后地区提出了重点改进建议。     

基于DEA模型的高校社会服务绩效研究——以杭州市高校为例

运用一种多指标输入/输出复杂系统的相对有效性评价方法——数据包络（DEA）法对杭州市高校社会服务绩效进行评价,并根据评价结果分析存在的问题及提出相应的解决措施。最后通过实例说明DEA是高校社会服务的绩效评价的有效方法之一。     

股价信息含量与资本投资效率——基于投资现金流敏感度的视角

本文以2001-2008年在沪深证券交易所上市的制造业公司为研究样本,基于投资现金流敏感度的视角研究了股价信息含量与资本投资效率之间的关系,得到以下研究结论 :富含信息的股价有效降低了资本投资对现金流的敏感程度。进一步研究后发现,富含信息的股价不仅能够有效降低融资约束导致的投资现金流敏感度,而且也能够有效降低代理冲突导致的投资现金流敏感度问题,以上结论在添加了诸多影响资本投资的控制变量及稳健性检验后仍然成立。本文的研究从一个全新的视角证明,富含信息的股价通过缓和融资约束和代理冲突问题,有效地改善了企业的资本投资效率。     

Two-stage evaluation of bank branch efficiency using data envelopment analysis

There are two key motivations for this paper: (1) the need to respond to the often observed rejections of efficiency studies’ results by management as they claim that a single-perspective evaluation cannot fully reflect the operating units’ multi-function nature; and (2) a detailed bank branch performance assessment that is acceptable to both line managers and senior executives is still needed. In this context, a two-stage Data Envelopment Analysis approach is developed for simultaneously benchmarking the performance of operating units along different dimensions (for line managers) and a modified Slacks-Based Measure model is applied for the first time to aggregate the obtained efficiency scores from stage one and generate a composite performance index for each unit. This approach is illustrated by using the data from a major Canadian bank with 816 branches operating across the nation. Three important branch performance dimensions are evaluated: Production, Profitability, and Intermediation. This approach improves the reality of the performance assessment method and enables branch managers to clearly identify the strengths and weaknesses in their operations. Branch scale efficiency and the impacts of geographic location and market size on branch performance are also investigated. This multi-dimensional performance evaluation approach may improve management acceptance of the practical applications of DEA in real businesses.     

社会和谐是公平与效率的高度统一

社会主义要实现共同富裕的目标,必须实现公平与效率的有机统一。只有做到效率与公平的统一和协调,才能既大力发展社会生产力,又充分体现社会主义的价值目标,促进社会和谐。坚持效率与公平的统一和协调,是我国现阶段的必然选择。     

Super-efficiency based on a modified directional distance function

The problem of infeasibility arises in conventional radial super-efficiency data envelopment analysis (DEA) models under variable returns to scale (VRS). To tackle this issue, a Nerlove–Luenberger (N–L) measure of super-efficiency is developed based on a directional distance function. Although this N–L super-efficiency model does not suffer infeasibility problem as in the conventional radial super-efficiency DEA models, it can produce an infeasible solution in two special situations. The current paper proposes to modify the directional distance function by selecting proper feasible reference bundles so that the resulting N–L measure of super-efficiency is always feasible. As a result, our modified VRS super-efficiency model successfully addresses the infeasibility issues occurring either in conventional VRS models or the N–L super-efficiency model. Numerical examples are used to demonstrate our approach and compare results obtained from various super-efficiency measures.