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The purpose of this paper is to investigate the efficiency and productivity growth of the Iranian banking industry between 2003 and 2008, encompassing pre‐ and post‐2005‐reform years.

The study uses a new decomposition of the Hicks‐Moorsteen total factor productivity index developed by O'Donnell to analyse efficiency and productivity changes in a banking context. The advantage of this approach over the popular constant‐returns‐to‐scale Malmquist productivity index is that it is free from any assumptions concerning firms' optimising behaviour, the structure of markets, or returns to scale. The paper assumes that the production technology exhibits variable returns to scale.

The banking industry's technical efficiency level – which had improved between 2003 and 2006 – deteriorated after regulatory changes were introduced in Iran. The results obtained also show that during 2006‐2007, the industry's total factor productivity increased by 32 per cent. However, the industry experienced its highest negative scale efficiency rate of 38 per cent (ΔROSE=0.62) and its highest negative efficiency growth of 43 per cent (ΔEff=0.57) during this period. The industry also witnessed a strong drop in productivity in 2007‐2008. Overall, changes in the production possibility set and scale‐efficiency changes exerted dominant effects on productivity changes.

This study is the first to use a comprehensive decomposition of the Hicks‐Moorsteen TFP index to analyse efficiency and productivity changes in a banking context.

The purpose of this paper is to discover the most important productivity determinants of Yemeni microfinance institutions. In addition, this study tests the most appropriate tool to measure productivity in such unique industry.

The authors applied data envelopment analysis (DEA) with the variable return to scale after testing the technology return to scale assumption. Then, they used DEA with bootstrapping technique to overcome the borne biasness in the conventional DEA analysis. Finally, the authors presented the Hicks–Moorsteen (total factor productivity [TFP]) as the most suitable tool for the technology presented in this study.

In this paper, the authors found a prolonged deterioration in the productivity scores of microfinance institutions in Yemen. This study highlights the importance of operating in rural areas to improve micro finance institutions’ (MFIs’) productivity. In contrast, they found no significant differences in productivity, neither between microfinance banks and non-governmental organizations nor between Islamic and non-Islamic MFIs.

This study extends previous research in the area of productivity and its determinants. It also adds to the body of productivity knowledge and methodology within the context of the microfinance industry in Yemen.

The study discovered new productivity determinants and re-assessed the importance of some already known ones. These determinants have been studied for the first time in Yemen’s microfinance industry and have contributed to answer the question of what is the most suitable productivity method that should be used. This study proved that the Hicks–Moorsteen TFP and the variable return to scale assumption are the only suitable methods to study productivity in the microfinance industry.

The purpose of this paper is to attempt to measure the performance of the Indian banking sector in terms of efficiency and productivity levels and their determinants during the post-reform period.

The present study is a novel attempt as it has used pooled data for a duration of 15 years (i.e. 1997/1998-2010/2011) from 59 selected banks for estimating the Hicks-Moorsteen (HM) total factor productivity (TFP) index.

Poor technical efficiency has experienced with scale efficiency change exerting dominant factors; whereas relatively better productivity growth has been experienced by the banks with major contributions from technical change components. The study found relatively underestimated efficiency and productivity levels by traditional data envelopment analysis-based Malmquist index. Additionally, the study brings into account the results for external and environmental determining factors contributing to the TFP growth.

Using HMTFP indices has helped to eliminate certain drawbacks of data envelopment and provided the more elaborative decomposition of productivity growth along with their components so as to have lucid and multidimensional insights about the performance of the Indian banking industry after the initiation of financial reforms.

Total factor productivity (TFP) has become a prominent concept in agriculture economics and policy over the last three decades. The main aim of this paper is to obtain a detailed picture of the field via bibliometric analysis to identify research streams and future research agenda.

The data sample consists of 472 papers in several bibliometric exercises. Citation and collaboration structure analyses are employed to identify most important authors and journals and track the interconnections between main authors and institutions. Next, content analysis based on bibliographic coupling is conducted to identify main research streams in TFP.

Three research streams in agricultural TFP research were distinguished: TFP growth in developing countries in the context of policy reforms (1), TFP in the context of new challenges in agriculture (2) and finally, non-parametric TFP decomposition based on secondary data (3).

This research indicates agenda of future TFP research, in particular broadening the concept of TFP to the problems of policy, environment and technology in emerging countries. It provides description of the current state of the art in the agricultural TFP literature and can serve as a “guide” to the field.

This paper introduces the concept of policy efficiency of banks as their efficiency in implementing the government's policies. It further compares the Indian public sector banks (PSBs) and private sector banks (PVBs) on two efficiency paradigms, operational efficiency and policy efficiency.

A three-stage analysis is carried out on data collected for 19 PSBs and 16 PVBs for ten years. Non-radial DEA with slack-based measure (SBM) is used to obtain efficiency scores of the banks for the two efficiency paradigms. The efficiency scores and the changes in efficiency and Malmquist index are further analysed by Tobit regression and seemingly unrelated regression (SUR) models.

PVBs are found to be more operationally efficient than PSBs. On the contrary, PSBs are found to be more policy efficient. Among the PSBs, the older and larger banks performed better in both the paradigms. Though Indian banks have become more operational and policy efficient over the years, the rate of improvement is slowing down.

Results imply that evaluating banks, especially PSBs, only on their operational efficiency is myopic. Their efficacies must also be measured by the roles they play on social and policy front. The loss of efficiency of Indian PSBs in a competitive environment should provoke thoughts of reforms. The study suggests that the proposed merger of PSBs to form large banks might be fruitful.

The study contributes to the literature by introducing the measure of policy efficiency. It shows that the Indian PSBs are indispensable as vehicles of government policy implementation.

The current paper's goal is to examine the productivity of the closed banking sector evidenced from Ethiopia. In addition, the inclusion of intangibles on productivity was examined in the current paper.

First, the standard Malmquist Productivity Index (MPI) was employed for 13 commercial banks for both stages. Second, by excluding the state-owned commercial bank, the analysis employed a bootstrapped MPI for the robust and comprehensive conclusion. Furthermore, from 2010 to 2019, the fixed effect Ordinary Least Square (OLS) regression with balanced panel data was used.

The standard MPI in both stages shows that the productivity of Ethiopian commercial banks is declining. The technological shock was the main reason for the loss. The catch-up in both stages scored above unity, mainly due to the pure efficiency change. Besides, when combined with tangible resources, the inclusion of resource-based view (RBV) proxy variables reduces technological shock regress and ultimately improves productivity change. The bootstrapped MPI also reveals that technological shock is the primary source of the productivity decline. However, efficiency change also contributes to the productivity decline based on this estimation.

Future research could examine the more extensive productivity analysis by considering the primary sources of data collections for resource-based variables.

According to the study's results, banking regulatory authorities and bank management, including the shareholders, should continue to invest in cutting-edge technology to improve the productivity of the banking sector.

This is the first comprehensive study of productivity for Ethiopian commercial banks based on the standard MPI, bootstrapped MPI, and OLS by incorporating all resources into the analysis.

The purpose of this paper is to empirically investigate the effect of lean manufacturing on productivity changes and to identify the root sources of productivity changes. Furthermore, the authors explore the moderating effects of research and development (R&D) to examine the relationship between lean manufacturing and productivity changes.

This paper employs the propensity score matching (PSM) model combined with the difference-in-difference (DID) estimation to overcome the selectivity bias. The Malmquist productivity index is used to capture productivity changes. By analyzing 671 Chinese manufacturing listed firms from 2009 to 2014, the moderating effects of R&D on the relationship between lean manufacturing and productivity changes are measured.

The results reveal that lean manufacturing implementation has non-significant effects on productivity changes in principle, while a detailed analysis indicates that lean manufacturing could improve scale efficiency significantly. While engaged in R&D could significantly improve the efficiency of technological changes for lean manufacturing implementation firms, there exist negative effects on pure technical efficiency.

This research only covers manufacturing listed firms in China. Further studies should extend the generalizability of the findings.

This study helps managers to identify the important role of R&D on the relationship between lean manufacturing and productivity changes and provides insights into how to improve the lean manufacturing performance.

This paper appears to be one of the earliest studies on the relationship between lean manufacturing and productivity changes by applying the PSM combined with DID estimation in Chinese manufacturing environment.

The purpose of this paper is to propose and analyze a model to obtain a total factor productivity of an industry through quantitative empirical analysis in order to determine the joint contribution of the production and technology function, and the change and technical progress. The case of the Peruvian large shipbuilding industry between the years 1969 and 1990 was considered for the analysis of the proposed model. The large shipbuilding in Peru finished in 1992 and has restarted in 2014. The importance of the study lies in the fact that the analysis is focused on an industry which is resurfacing, and in this regards, the study of the first production period will yield more and accurate information to make decisions regarding its future development.

One way of considering the several effects of technical progress, in line with Sato (1970) such as growth and bias, is to specify a production function maintaining the linear homogeneity property, such as: Y(t)=F [A(t)K(t), B(t)L(t)], where Y(t) is the aggregate product over a period of time (t); K(t) is the capital; L(t) is the labor; and A(t) and B(t) are the efficiencies or augmentations of K(t) and L(t), respectively. Based on the regression analysis data, the value of σ can be estimated to a residual growth rate (Kennedy and Thirlwall, 1972) that allows assessing the technical knowledge that is not attributable to the factors’ efficiency grains: TCTR = T ˙ / T − ( α ( A ˙ / A ) + β ( B ˙ / B ) ) . This last expression measures the residual technological growth rate (TCTR, by its Spanish acronym).

The results of the analysis of the large shipbuilding at SIMA-Callao during the given period (22 years of operation, between 1969 and 1990) show that the necessary installed capacity and the technological knowledge was available in order to develop a complex industrial process in the South Pacific region, thus, contributing to the sector’s growth in the country. The evolution of the shipbuilding activities coincides with the GDP expansion and decline periods in Peru. According to the results, the total factor productivity increased during 1969-1976, 1979-1982, and 1986-1987 periods and it has been confirmed that the contribution of the efficiencies of the production factors were inversely related to the economies of scale and output growth.

The analysis is based on the activities carried out throughout 22 years of operations in SIMA-Callao shipyards (1969-1990). The data regarding the product, labor, imported materials costs, local material costs, direct expenses, wages, and man-day costs was obtained from several sources within the shipyard. Direct expenses correspond to classification, inspections, administrative expenses (dock, quality control, equipment rental, etc.), drawings, technical data, insurance, and materials freight. Additionally, the sources of information are project construction contracts, annual expenses reports, and man-day cost quarterly reports of the shipbuilding area. The man-day cost includes salary, social benefits, and the company’s functional cost.

There are different ways to obtain productivity index. In this case, the authors used the stated model. In addition, based on this experience, this can be applied to other industries.

The purpose of this paper is to present a holistic approach for measuring overall bank efficiency and its decomposition in intermediation and operating efficiencies.

Recently developed two-stage network data envelopment analysis model by Liang et al. (2008) has been used for obtaining intermediation and operational efficiencies along with overall bank efficiency. The bootstrapped truncated regression algorithm as proposed by Simar and Wilson (2007) has been employed to explore the influential determinants of intermediation and operating efficiencies.

The empirical results reveal that the operating inefficiency is the dominant source of overall bank inefficiency in Indian banking sector. Another interesting finding is that public sector banks are more efficient than private banks in the intermediation stage of production process, while private banks are more efficient in the operating stage of production process. Finally, the results of bootstrapped truncated regression show that variations in intermediation efficiency are explained by bank size, liquidity position, directed lending and intermediation cost, while inter-bank differences in operating efficiency are influenced by profitability and income diversification.

The most significant practical implication that has been derived from the research findings is that at the industry level, overall efficiency enhancement needs improvement both in terms of resource-utilization and income-generating abilities of the banks. However, the relatively easy way to achieve higher bank efficiency is to improve the efficiency of banks in generating incomes from interest and fee-based sources.

This paper is the first to provide a comprehensive assessment of performance of Indian banks by examining the efficiency of individual banks considering both the intermediation and operating approaches simultaneously.

This paper aims to study the main trends of scientific research in Islamic finance’s social aspects to clarify place, role and functions, especially in the context of increasing social problems. To achieve this goal, this paper focuses on the social component of Islamic finance, analyzes publications on social Islamic finance in the Web of Science database, covering the period from 1979 to 2020, specify the geographical localization of research networks, determines the most cited authors and their scientific position.

The authors have applied several literature review techniques, a bibliometric citation and co-citation analysis, a co-authorship analysis and a review of the most cited papers. The analyzes’ results allow us to offer five future questions in Islamic social finance, zakat and waqf, which have not been investigated before and could influence Islamic social finance and Islamic finance research.

The authors also derive and summarize five leading future research questions.

This is a limitation of using only the Web of Science Core Collection database as the premier resource and the most trusted citation index for the world’s scientific and scholarly research. Further study might expand the types of analyzed units, include more keywords and include other databases, such as Scopus.

This paper can be considered as an inspirational one to future researchers and policymakers in Islamic social finance.