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Article
Publication date: 9 November 2020

Virginia De Jorge-Huertas and Justo De Jorge-Moreno

This paper analyzes the regulatory effects on homeownership and rental prices in Spain in the years between 1977m1 and 2019m5, taking into account the economic crisis. It also…

Abstract

Purpose

This paper analyzes the regulatory effects on homeownership and rental prices in Spain in the years between 1977m1 and 2019m5, taking into account the economic crisis. It also studies the causal relationship of the prices of private housing (owned and rented).

Design/methodology/approach

Interrupted time series analysis has been used to analyze the legislative impact on the construction sector. Also, the Box–Cox transformation has been used to carry out the above analysis. Finally, Granger's test has made possible to determine the causal relationship between the price series.

Findings

The results obtained in this work show the partial positive effects of legislative instrumentalization, which in general result in decreasing trends of prices in both types of housing use. Likewise, the causal relationship between the prices of owned and rented housing shows that the latter do not provide any incentive with respect to the former.

Social implications

The social implications in this work could be important since this paper analyzes the effects of (de)regulation on housing prices in Spain, and the policy implications could help to control the speculation in housing.

Originality/value

The results obtained in this work could be relevant, both from the point of view of future housing policies and of the agents involved and that of society in general. In addition, this work could contribute to fill the existing gap in this field in Spain, given the scarce literature that raises the objective, using quantitative methodologies.

Details

Journal of Economic Studies, vol. 48 no. 6
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 2 March 2020

Justo De Jorge-Moreno and Virignia De Jorge-Huertas

The purpose of this paper is to conduct a benchmark analysis of European cities based on the estimation of a composite index of efficiency from the dimensions of the Cultural and…

Abstract

Purpose

The purpose of this paper is to conduct a benchmark analysis of European cities based on the estimation of a composite index of efficiency from the dimensions of the Cultural and Creative Cities Monitor 2017 (CCCM). The study helps to initiate a new exploration path based on this information, using a segmentation criterion of countries according to their economic and demographic characteristics, in search of greater comparative homogeneity.

Design/methodology/approach

In this paper, the metafrontier methodological proposal with data envelopment analysis (DEA) has been used to compare the groups of cities individually with their joint reference.

Findings

The results obtained indicate, from a greater control of heterogeneity, through the segmentation of the sample of cities and the metafrontier methodology, that the composite index (IEC3) through the enveloping data analysis methodology (DEA) is more robust than that obtained with the arbitrary assignment of CCCM weights. The analyses carried out make it possible to study and conduct more real and rigorous comparisons of the cities that experience the best practices, unlike other more distant ones. Reference to cities such as Paris, Louvain and Cork could serve as a basis for possible improvements.

Originality/value

It is important to bear in mind that the possible urban policies of a city and the creative strategies and their derived impact are different, because of the diversity in each city. These new comparability possibilities could serve as a tool for economic policy makers, companies and local managers to carry out learning and simulation processes in the improvement of creative cities.

Details

Journal of Economic Studies, vol. 47 no. 4
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 15 February 2022

Justo De Jorge-Moreno and Fernando Martín Meana

This study provides new results on the efficiency on health centers in Madrid (Spain).

96

Abstract

Purpose

This study provides new results on the efficiency on health centers in Madrid (Spain).

Design/methodology/approach

The objective of this study was to analyze the efficiency of primary care centers in the Community of Madrid in the period 2016–2018. Special attention has been paid to the detailed study of the best practices carried out. Likewise, the factors affecting efficiency have been analyzed. The methodologies used were nonparametric DEA radial, nonradial and bootstrap, for the estimation of efficiency. The main results reveal that, despite the differences in the techniques used, fundamentally the radial versus non-radial criterion, the results dynamically show the deterioration of the efficiency of the health Centers of the Community of Madrid, when compared by subperiods 2017/18–2016/17. The benchmark analysis identified the best practices of the health centers in the period analyzed. The application of cluster analysis, through kernel distributions (Azzalini and Menardi, 2014), segments the sample in two, and shows the top 20% of health Centers in resource management, in the case of radial DEA. Subsequently, a detailed analysis using pairwise comparison and their presence in the formation of the production frontier captures the benchmark health Centers, as they are present in the three years analyzed in the formation of the production frontier. The analysis of the second stage reports that the explanatory factors of efficiency are centered on the inverse relationship between the population assigned to the health Centers and positively with teaching versus those that do not. It also confirms the extent to which the pressure of care compromises the efficiency of the health Centers.

Findings

A methodological approach based on three efficiency analysis methodologies (radial, non-radial and bootstrap) is applied. Likewise, a cluster analysis criterion is used (Azzalini and Menardi, 2014), little explored in the field of Healthcare.

Originality/value

The Benchmark analysis applied in this study could contribute to decision making for managers, professionals, and policy makers in the health sector. The provision of a greater quantity and quality of public health resources is an important challenge that must be met in order to maintain levels of excellence.

Details

Journal of Economic Studies, vol. 50 no. 2
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 1 August 2003

Justo de Jorge and Cristina Suarez

The aim of this paper is to estimate the (in)efficiency of European railways, through an econometric estimation of frontier functions. The methodology used is the panel data…

1238

Abstract

The aim of this paper is to estimate the (in)efficiency of European railways, through an econometric estimation of frontier functions. The methodology used is the panel data method. The statistical source covers 19 companies observed over the period from 1965 to 1998. Two different specifications are estimated, first a “factor requirements function” and second a more flexible functional form “quadratic function”. Results indicate that the means of the efficiency indicator are around 0.6 and 0.4 for the factor requirement specification and the quadratic specification, respectively, and a great rate of technological progress over the period is also indicated.

Details

European Business Review, vol. 15 no. 4
Type: Research Article
ISSN: 0955-534X

Keywords

Article
Publication date: 3 August 2010

Justo de Jorge Moreno

The purpose of the research presented in this paper is to evaluate the efficiency and productivity of the European retailers.

1007

Abstract

Purpose

The purpose of the research presented in this paper is to evaluate the efficiency and productivity of the European retailers.

Design/methodology/approach

Applying a two‐stage approach at individual and global levels, in this study the paper adopts the efficient frontier approach using the Malmquist index, based on DEA to measure productivity of European retailers.

Findings

An efficiency and productivity evaluation process is developed incorporating non‐parametric techniques in the European retail sector for the period of 1998‐2006. The author proposes an integrated benchmarking framework illustrated in two stages. In the first stage, work is carried out in an individualized way at the country level identifying the firms that form the corresponding efficient frontier. In a second stage a benchmarking analysis is carried out starting from the selection of the best firms made in the first stage. In this case the firms belonging to different countries are compared against each other. The aim of this procedure is to seek out those best practices that will lead to improved performance throughout the whole sample. The results confirm that convergence/divergence in efficiency and productivity growth do not have the same behaviour patterns, concluding that some countries experienced improvements while others worsened. Individual scrutiny (benchmarks) in the second stage shows that there are four groups of firms that have allowed us to extract important managerial implications.

Originality/value

The paper proposes an integrated benchmarking framework illustrated in two stages. With this methodology answers can be given to important questions such as, how efficient and productive is European retailing? What is the evolution of the productivity over time in Europe? Do different patterns of convergence/divergence of the efficiency exist among the analysed countries? What characteristics do the firms with the best managerial practices belonging to the European global frontier have?

Details

Journal of Economic Studies, vol. 37 no. 3
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 11 April 2016

Justo de Jorge Moreno and Oscar Rojas Carrasco

The purpose of this paper is to investigate the competitive position of the company Inditex in the period 1990-2013 as a case study, identified by academics and professionals as a…

9264

Abstract

Purpose

The purpose of this paper is to investigate the competitive position of the company Inditex in the period 1990-2013 as a case study, identified by academics and professionals as a successful company. The analysis has focussed on the comparison of Inditex with its competitive environment.

Design/methodology/approach

The methodology used to achieve the objectives was: data envelopment analysis for the analysis of efficiency and for the second the Tobit regression to determine the factors explaining efficiency. The authors have used additional methodologies such as social networks or cluster analysis.

Findings

The individual company analysis reveals that the average efficiency level by years for the period 1990-2013, is relatively high 88.8 percent. The determinants of efficiency have been; the resources of the company in terms of assets whose relationship with is U-shaped curvilinear, where the minimum value (trend change) is produced between years 2002 and 2003. The degree of internationalization of the firm, is positively related to efficiency. As the company increases its expansion, experience and skills, increases efficiency. Finally, the effect of liberalization of textile trade in 2005 had no influence on the efficiency levels.

Research limitations/implications

The limitations involving the methodology, in terms of representativeness, possible generalizations and type of secondary information used, can be offset by the ability to provide good vision and establish alternatives for possible studies.

Originality/value

This paper contributes to the fast-fashion retail industry literature by emphasizing the importance of the case study.

Details

International Journal of Retail & Distribution Management, vol. 44 no. 4
Type: Research Article
ISSN: 0959-0552

Keywords

Article
Publication date: 29 March 2011

Justo de Jorge Moreno and María Sanz‐Triguero

The purpose of this work is twofold: on the one hand, recent methodologies will be used to estimate efficiency and productivity in Spain's non‐specialized retail sector for the…

Abstract

Purpose

The purpose of this work is twofold: on the one hand, recent methodologies will be used to estimate efficiency and productivity in Spain's non‐specialized retail sector for the period of 1997‐2007. In particular, the order‐m approach proposed by Cazals et al., which is based on the concept of expected minimum input function. On the other hand, the results obtained applying the methods mentioned in the Spanish retail sector can contribute to opening up a new field of analysis since the results may be compared by means of the methodologies proposed as well as those which already exist in the literature.

Design/methodology/approach

The paper used data envelopment analysis stochastic (order‐m) and bootstrapping Malmquist index to measure productivity and efficiency in 12 sectors in Spanish retail trade 1997‐2007.

Findings

In order to illustrate the methodology proposed in this paper different phases involved; first, we have estimated the efficiency in 12 sectors of the retail sector four digits NACE, we found high levels of inefficiency in most of the sectors analyzed over the period of analysis. Next, we will deepen and simplify the analysis by concentrating on food‐predominant sectors in non‐specialised shops (5211). The evolution of the efficiency of firms belonging to this sector decreases over the period of analysis. Analyzing the relationship between firms and size, the results obtained in this work shows that the firm's size have a positive influence on efficiency that suggest that the management may have incentives to grow in order to improve their efficiency levels. Our second contribution has to do with the use of bootstrapping Malmquist productivity indices. Productivity decreased at an average rate of −4.1 percent over the entire period of 1997‐2007. On average, this deterioration was due to efficiency change −6.1 percent. Technical progress is increased at an average rate of 2.1 percent. All rates at global level are statistically significant at 95 percent.

Originality/value

The main contribution of this paper is to provide an efficiency analysis using a non‐parametric approach with a robust estimator that has been suggested recently by Cazals et al. This methodology is that the first time that is applied in the analysis of retail sector. In addition, we analyze productivity growth using bootstrapping Malmquist indices. This methodology allows for a more careful analysis of what happens at firm level. Differences in conclusions between the original estimates and the bootstrap results are more evident when we scrutinize the sample firms and individual levels.

Details

International Journal of Retail & Distribution Management, vol. 39 no. 4
Type: Research Article
ISSN: 0959-0552

Keywords

Article
Publication date: 10 August 2015

Justo De Jorge-Moreno and Oscar Rojas Carrasco

The purpose of this paper is to provide new evidence about the technical efficiency and its determinants in Spanish textile sector during the period 2002-2009. The empirical…

Abstract

Purpose

The purpose of this paper is to provide new evidence about the technical efficiency and its determinants in Spanish textile sector during the period 2002-2009. The empirical results suggest that the effects of trade liberalization have led to higher levels of inefficiency in the Spanish sector, due to the lack of flexibility of firms to adjust to the environment, and perhaps to aggressive competition with fuzzy rules of the game. Controlling for specific factor like age, intensity of capital, salary by worker, regions and market share, the authors have obtained that the interaction between market share and size indicates that as firms have more size are also more inefficient.

Design/methodology/approach

In this paper, the stochastic frontier production function is considered, specifically, a panel data version of Battese and Coelli (1995), in which the technical inefficiency is estimated from the stochastic frontier and simultaneously explained by a set of variables. This approach avoids the inconsistency problems of the two-stage approach used in other empirical works when analyzing the inefficiency determinants.

Findings

This work provides new evidence about the technical efficiency and its determinants can be due to environmental or firm-specific factors in Spanish textile sector during the period 2002-2009. The authors have estimated the Cobb-Douglass stochastic production frontier following Battese and Coelli (1995) model to analyze an unbalanced panel.

Originality/value

The empirical results suggest that the trend of the inefficiency shows a curvilinear behavior in the form of U (turning point third-quarter of 2004). This result is related to the efficiency analysis through Kernel distributions (in static and dynamic form) confirmed a clear process of divergence. In the period 2002-2005 the efficiency of the firms analyzed maintained higher levels than the 2005-2009 period where there is deterioration. This may be related to the increased competition due to the end of the Multi-Fiber Arrangement in January 2005 and the entry of Chinese products in 2004.

Details

Journal of Economic Studies, vol. 42 no. 3
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 1 February 2008

Justo de Jorge Moreno

This study aims to present an approach for analyzing hypermarkets efficiency data envelopment analysis (DEA) in Spanish retailing. In particular, the influence of the Retail Trade…

1239

Abstract

Purpose

This study aims to present an approach for analyzing hypermarkets efficiency data envelopment analysis (DEA) in Spanish retailing. In particular, the influence of the Retail Trade Act of 1996, by means of which the Spanish state transferred authority to concede licenses for opening commercial establishments to the regions, is to be studied.

Design/methodology/approach

The analysis is based on a DEA model that allows for the evaluation of categorical variables in DEA in cross‐section data.

Findings

The findings suggest the existence of three different production frontiers in relation to the markets' regulation process where the hypermarkets operate; high, medium and low regulation. In the second place, the effect of the regulatory restrictions carried out by the autonomous communities is corrected in the second stage. This correction (once managerial inefficiencies have been eliminated) allows the hypermarkets operative in areas with low restrictions to be more efficient than those located in areas of greater regulation.

Research limitations/implications

The generalization of the conclusions of the study to the whole sector should be made with caution, because only one of the players in the distribution channel has been analyzed.

Practical implications

The implications that can be derived from the analysis carried out could be of great interest to policy makers in Spain with regard to the influence of the Retail Trade Act of 1996.

Originality/value

The paper uses the model mentioned as evaluation of the efficiency in relation to the environment or regulation carried out in the sector. The methodology proposed to analyze the impact of this environment variable is one of the main contributions of the work.

Details

International Journal of Retail & Distribution Management, vol. 36 no. 1
Type: Research Article
ISSN: 0959-0552

Keywords

Article
Publication date: 1 October 2006

Justo de Jorge Moreno

The purpose of this paper is to analyze the impact on Spanish retail firms' efficiency of the regulatory process experienced in the period 1994‐2002. In particular, the paper aims…

2302

Abstract

Purpose

The purpose of this paper is to analyze the impact on Spanish retail firms' efficiency of the regulatory process experienced in the period 1994‐2002. In particular, the paper aims to study the influence of the Retail Trade Act of 1996, by means of which the Spanish state transferred authority to concede licenses for opening commercial establishments to the regions.

Design/methodology/approach

The objectives have been achieved by non parametric methodology of analysis of efficiency at static and dynamic level (kernel density).

Findings

The results confirm a decrease in firms' technical efficiency in the post‐regulatory period between 1996 and 2002. The different patterns of convergence/divergence in the distribution of technical efficiency depend on firm size. Small firms experience a process of divergence to lower efficiency levels from 1994 to 2002.

Research limitations/implications

Perhaps more regional analysis is also needed. In this sense, it would be interesting to consider the region within which the firms operate, and hence take into account the differences in regulatory processes in each region by size or more precisely by outlet type.

Practical implications

It is necessary to consider the implications that the regulatory processes can have for management in the environment of the retail industry.

Originality/value

The analysis of the efficiency with features of density kernel. As well as the usage of stochastic kernel. This has enabled dynamic effects in the analysis.

Details

International Journal of Retail & Distribution Management, vol. 34 no. 10
Type: Research Article
ISSN: 0959-0552

Keywords

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