Abstract
We construct Malmquist Productivity indices for two-stage processes. A two-stage data envelopment analysis model with an additive efficiency decomposition is used for the modelling of the two-stage process. We incorporate prior information into the analysis using the Weight Assurance Region model. This model offers advantages such as the weights representing the contribution of each stage to the overall process are always positive and we also can restrict them into a region given the available prior information. We extend this model from efficiency analysis to productivity analysis and we calculate Malmquist Productivity indices using four alternative decomposition approaches. The model is applied to a panel of banks in Central and Eastern European countries and productivity change is evaluated for three periods of the financial crisis. The alternative decompositions allow us to examine the various sources of productivity change during the financial crisis. Convergence patterns are also examined.
| Original language | English |
|---|---|
| Pages (from-to) | 111-124 |
| Number of pages | 14 |
| Journal | Journal of the Operational Research Society |
| Volume | 70 |
| Issue number | 1 |
| Early online date | 7 Feb 2018 |
| DOIs | |
| Publication status | E-pub ahead of print - 7 Feb 2018 |
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Keywords
- Data envelopment analysis
- banking efficiency
- productivity growth
- transition economies
- two-stage
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Productivity Growth in Network Models : An Application to Banking During the Financial Crisis. / Kourtzidis, Stavros; Matousek, Roman (Lead / Corresponding author); Tzeremes, Nickolaos.
In: Journal of the Operational Research Society, Vol. 70, No. 1, 07.02.2018, p. 111-124.Research output: Contribution to journal › Article
TY - JOUR
T1 - Productivity Growth in Network Models
T2 - An Application to Banking During the Financial Crisis
AU - Kourtzidis, Stavros
AU - Matousek, Roman
AU - Tzeremes, Nickolaos
PY - 2018/2/7
Y1 - 2018/2/7
N2 - We construct Malmquist Productivity indices for two-stage processes. A two-stage data envelopment analysis model with an additive efficiency decomposition is used for the modelling of the two-stage process. We incorporate prior information into the analysis using the Weight Assurance Region model. This model offers advantages such as the weights representing the contribution of each stage to the overall process are always positive and we also can restrict them into a region given the available prior information. We extend this model from efficiency analysis to productivity analysis and we calculate Malmquist Productivity indices using four alternative decomposition approaches. The model is applied to a panel of banks in Central and Eastern European countries and productivity change is evaluated for three periods of the financial crisis. The alternative decompositions allow us to examine the various sources of productivity change during the financial crisis. Convergence patterns are also examined.
AB - We construct Malmquist Productivity indices for two-stage processes. A two-stage data envelopment analysis model with an additive efficiency decomposition is used for the modelling of the two-stage process. We incorporate prior information into the analysis using the Weight Assurance Region model. This model offers advantages such as the weights representing the contribution of each stage to the overall process are always positive and we also can restrict them into a region given the available prior information. We extend this model from efficiency analysis to productivity analysis and we calculate Malmquist Productivity indices using four alternative decomposition approaches. The model is applied to a panel of banks in Central and Eastern European countries and productivity change is evaluated for three periods of the financial crisis. The alternative decompositions allow us to examine the various sources of productivity change during the financial crisis. Convergence patterns are also examined.
KW - Data envelopment analysis
KW - banking efficiency
KW - productivity growth
KW - transition economies
KW - two-stage
UR - http://www.scopus.com/inward/record.url?scp=85049016037&partnerID=8YFLogxK
U2 - 10.1080/01605682.2017.1421851
DO - 10.1080/01605682.2017.1421851
M3 - Article
VL - 70
SP - 111
EP - 124
JO - Journal of the Operational Research Society
JF - Journal of the Operational Research Society
SN - 0160-5682
IS - 1
ER -