Technology-based total factor productivity and benchmarking: New proposals and an application |
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Authors: | Mircea Epure Kristiaan Kerstens Diego Prior |
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Affiliation: | 1. Department of Business Economics, Universitat Autònoma de Barcelona, Spain;2. CNRS-LEM (UMR 8179), IESEG School of Management 3 rue de la Digue, F-59800 Lille, France |
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Abstract: | The present study fills a gap between the benchmarking literature and multi-output based efficiency and productivity studies by proposing a benchmarking framework to analyze total factor productivity (TFP). Different specifications of the Hicks–Moorsteen TFP index are tailored for specific benchmarking perspectives: (1) static, (2) fixed base and unit, and (3) dynamic TFP change. These approaches assume fixed units and/or base technologies as benchmarks. In contrast to most technology-based productivity indices, the standard Hicks–Moorsteen index always leads to feasible results. Through these specifications, managers can assess different facets of the firm's strategic choices in comparison with firm-specific relevant benchmarks and thus have a broad background for decision making. An empirical application for the Spanish banking industry between 1998 and 2006 illustrates the managerial implications of the proposed framework. |
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Keywords: | DEA Banking |
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