کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
479718 1446024 2014 11 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Cost, revenue and profit efficiency measurement in DEA: A directional distance function approach
موضوعات مرتبط
مهندسی و علوم پایه مهندسی کامپیوتر علوم کامپیوتر (عمومی)
پیش نمایش صفحه اول مقاله
Cost, revenue and profit efficiency measurement in DEA: A directional distance function approach
چکیده انگلیسی


• We develop new measures of directional cost, revenue and profit of (in)efficiencies.
• These measures are decomposed into value-based technical and allocative efficiencies.
• We develop two directional oriented value-based measures of technical efficiency.
• The important property of translation invariance is satisfied by our new measures.
• Negative data can be handled well by our new efficiency measures.

Estimation of efficiency of firms in a non-competitive market characterized by heterogeneous inputs and outputs along with their varying prices is questionable when factor-based technology sets are used in data envelopment analysis (DEA). In this scenario, a value-based technology becomes an appropriate reference technology against which efficiency can be assessed. In this contribution, the value-based models of Tone (2002) are extended in a directional DEA set up to develop new directional cost- and revenue-based measures of efficiency, which are then decomposed into their respective directional value-based technical and allocative efficiencies. These new directional value-based measures are more general, and include the existing value-based measures as special cases. These measures satisfy several desirable properties of an ideal efficiency measure. These new measures are advantageous over the existing ones in terms of (1) their ability to satisfy the most important property of translation invariance; (2) choices over the use of suitable direction vectors in handling negative data; and (3) flexibility in providing the decision makers with the option of specifying preferable direction vectors to incorporate their preferences. Finally, under the condition of no prior unit price information, a directional value-based measure of profit inefficiency is developed for firms whose underlying objectives are profit maximization. For an illustrative empirical application, our new measures are applied to a real-life data set of 50 US banks to draw inferences about the production correspondence of banking industry.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: European Journal of Operational Research - Volume 237, Issue 3, 16 September 2014, Pages 921–931
نویسندگان
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