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Article
Publication date: 13 October 2022

Arash Arianpoor and Niloufar Mehrfard

The present study aims to explore the impact of managerial attributes on cash holding and investment efficiency and the mediating role of cash holding for companies listed on the…

Abstract

Purpose

The present study aims to explore the impact of managerial attributes on cash holding and investment efficiency and the mediating role of cash holding for companies listed on the Tehran Stock Exchange.

Design/methodology/approach

Information about 178 companies in 2014–2021 was examined. In the present study, managerial overconfidence, managerial myopia and managerial ability were considered as the managerial attributes.

Findings

The present findings showed that managerial attributes (i.e. overconfidence, myopia and ability) have a significant effect on investment efficiency. In addition, cash holding has a significant positive effect on investment efficiency. Furthermore, cash holding plays a mediating role in the relationship between managerial attributes and investment efficiency.

Originality/value

There is a gap in the impact of managerial attributes on cash holding and investment efficiency and investigating the mediating role of cash holding. This gap creates an opportunity for studying these variables in depth. The present study contributes to the identification of factors influencing investment efficiency to advance future studies and support practical efforts. This study contributes to a better understanding of the effect of managerial attributes on investment decisions in the context of diverging opinions about manager-specific effects on company’s outcomes.

Details

Journal of Islamic Accounting and Business Research, vol. 14 no. 4
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 1 September 2003

Stewart R. Miller and Anthony D. Ross

This study explores the applicability of the resource‐based view at the organizational unit level by investigating why resource utilization, as measured by efficiency, might…

3597

Abstract

This study explores the applicability of the resource‐based view at the organizational unit level by investigating why resource utilization, as measured by efficiency, might differ within a firm. Using a downstream petroleum firm as the context for this study, the data envelopment analysis framework is applied to examine resource input congestion of its DCs (i.e. distribution centers). The study also provides a more granular analysis by decomposing distribution efficiency into managerial, scale, and programmatic efficiency, and examines the impact of corporate‐level decision making by including non‐discretionary variables. The analysis identifies opportunities to improve efficiency at the organizational unit level, using alternative views of the operational problem. The approach also provides practicing managers with an objective means to evaluate performance at the level of the organizational unit. Both the efficiency view and the managerial performance view are discussed simultaneously from a strategic view of firm resources.

Details

International Journal of Operations & Production Management, vol. 23 no. 9
Type: Research Article
ISSN: 0144-3577

Keywords

Article
Publication date: 4 March 2014

Tommaso Agasisti, Francesca Bonomi and Piergiacomo Sibiano

The purpose of this paper is to suggest a methodology to calculate efficiency scores for a sample of Italian primary and middle schools. The main aim is to relate these measures…

Abstract

Purpose

The purpose of this paper is to suggest a methodology to calculate efficiency scores for a sample of Italian primary and middle schools. The main aim is to relate these measures of efficiency to a set of “external” factors that can affect schools’ performance, such as the average socio-economic background of their students, their location in an urban/non urban setting, etc. After presenting this analysis, the paper proposes a procedure to calculate “adjusted” efficiency measures – which take in the role of external variables – in order to assess the “pure” management efficiency of each school, and so to avoid confusing the institution's performance with the aspects relating to its background.

Design/methodology/approach

Efficiency is defined in its technical sense that is, the ability to transform inputs (financial and human resources) into outputs (results achieved by students in standardized test scores). A two-stage quantitative procedure was used to investigate “managerialefficiency, so that the impact of external variables on educational efficiency could be suitably taken into account.

Findings

The results show that the average efficiency score is quite high in the sample of schools considered, but potential savings can still be made: overall, with the schools’ available resources, achievement scores could be increased by about 20 percent. Efficiency and educational equity are complementary in primary public (state) schools, and the most efficient schools are those with the lowest internal variance between the students’ achievement scores; the same does not hold for middle school students’ results in mathematics. Lastly, several schools appeared to be efficient when the external variables were not taken into consideration, while their background actually favored them, and they are not efficient from a purely managerial perspective.

Originality/value

The most important piece of innovation is the investigation of managerial efficiency and its implications on policies. This study confirms and suggests that there could be an inverse relationship between apparent (baseline) and true (managerial) efficiency, that is, between the efficiency scores achieved before and after the “correction” made for external variables.

Details

International Journal of Educational Management, vol. 28 no. 2
Type: Research Article
ISSN: 0951-354X

Keywords

Book part
Publication date: 5 April 2024

Mike G. Tsionas

In this chapter, we consider the possibility that a firm may use costly resources to improve its technical efficiency. Results from static analyses imply that technical efficiency

Abstract

In this chapter, we consider the possibility that a firm may use costly resources to improve its technical efficiency. Results from static analyses imply that technical efficiency is determined by the configuration of factor prices. A dynamic model of the firm is developed under the assumption that managerial skill contributes to technical efficiency. Dynamic analysis shows that the firm can never be technically efficient if it maximizes profits, the steady state is always inefficient, and it is locally stable. In terms of empirical analysis, we show how likelihood-based methods can be used to uncover, in a semi-non-parametric manner, important features of the inefficiency-management relationship using a flexible functional form accounting for the endogeneity of inputs in a production function. Managerial compensation can also be identified and estimated using the new techniques. The new empirical methodology is applied in a data set previously analyzed by Bloom and van Reenen (2007) on managerial practices of manufacturing firms in the UK, US, France and Germany.

Article
Publication date: 29 November 2018

Muhammad Asif, Muhammad Shahzad, Muhammad Usman Awan and Huseyin Akdogan

The growing emphasis on “managerialism” in police and the pressure to employ scientific methods of performance measurement warrants the need for a structured framework. The scope…

Abstract

Purpose

The growing emphasis on “managerialism” in police and the pressure to employ scientific methods of performance measurement warrants the need for a structured framework. The scope of police duties is large as it relates to several preventive and corrective action related to public safety and crime management. A challenge in measuring police performance is to take into consideration a range of variables that can potentially influence performance. The purpose of this paper is to provide a structured framework for measuring different facets of police efficiency, which is especially useful in managerial decision making.

Design/methodology/approach

This paper uses data envelopment analysis and discusses efficiency measurement in terms of the technical, managerial and scale efficiency, resources utilization patterns, returns-to-scale analysis and measurement of super-efficiency. The application of framework is based on the data of the police stations of Lahore, a large metropolitan city in Pakistan.

Findings

The paper shows the application of different measures of efficiency in making decisions pertaining resources allocation, prioritizing areas for improvement and identifying benchmarks for performance improvement. Different measures of efficiency are presented in the form of a structured framework.

Practical implications

Managers can use this framework to glean rich insights into different types of efficiency and sources of inefficiency. Further, a discussion of variables provided in this paper can be especially useful in determining trade-offs during the selection of inputs and outputs.

Originality/value

The key contribution of this paper is in providing a multifaceted efficiency measurement framework, that is capable of providing rich insights into the sources of inefficiency and helps scientific decision making. To the best of our knowledge, such a multifaceted approach has not been provided in previous publications.

Details

International Journal of Quality & Reliability Management, vol. 35 no. 10
Type: Research Article
ISSN: 0265-671X

Keywords

Article
Publication date: 8 August 2023

Shobha Tewari and Alka Arya

The purpose of this paper is to determine the most efficient hotels in the Indian hotel industry, the competitive positioning of these hotels, and the factors that affect their…

Abstract

Purpose

The purpose of this paper is to determine the most efficient hotels in the Indian hotel industry, the competitive positioning of these hotels, and the factors that affect their efficiency change.

Design/methodology/approach

This study conducts a two-stage analysis and uses data envelopment analysis (DEA) and Global Malmquist productivity index (MPI) approach in the first stage to calculate the managerial performance of a panel of 63 Indian hotels in 2019–2020 and their efficiency change from 2009–2010 to 2019–2020. Bootstrapped generalized least square (GLS) approach is applied in the second stage to evaluate the impact of contextual variables on efficiency change.

Findings

Using the results of the first stage analysis, the authors categorized the 63 Indian hotels into 7 distinct clusters. These clusters represent different levels of competitiveness and pace of growth. The GLS regression reveals a U-shaped relationship between hotel size and efficiency change and a negative relationship between pro social investments and efficiency.

Originality/value

This is the first study in the hotel industry that has used global MPI as a measure of efficiency change in the first stage and GLS in the second stage. In the Indian context, to the best of authors’ knowledge, no such study exists.

Details

Benchmarking: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-5771

Keywords

Article
Publication date: 13 December 2022

Moulaye Bamba and Juste Somé

This paper aims to assess the efficiency of public investment in West African Economic and Monetary Union (WAEMU) countries at both the global and sectoral level over the…

Abstract

Purpose

This paper aims to assess the efficiency of public investment in West African Economic and Monetary Union (WAEMU) countries at both the global and sectoral level over the 2005–2015 period.

Design/methodology/approach

This paper estimates efficiency scores using stochastic frontier analysis (SFA) models. Efficiency is divided into managerial efficiency (related to inputs management) and technological efficiency (related to production technology). A Tobit model is then used to investigate the determinants of public investment efficiency.

Findings

The findings suggest that, at the global level, WAEMU countries are less efficient than sub-Saharan African and Asian reference countries. However, the breakdown of global efficiency into managerial and technological reveals that WAEMU countries are more efficient than sub-Saharan African countries in terms of technological efficiency. Moreover, these findings are robust to nonparametric estimation. The assessment of financing sources indicates that external debt has a more positive and significant effect on public investment efficiency than internal debt does.

Originality/value

This paper is unique in that it disentangles managerial efficiency from the technological efficiency of public investment in WEAMU countries and highlights how financing sources of investment affect its efficiency. In terms of policy implications, the underlying message of the results is that the rules and conditions of domestic or regional debt in the WAEMU countries must be strengthened to ensure better monitoring and then better efficiency of these resources.

Details

International Journal of Development Issues, vol. 22 no. 1
Type: Research Article
ISSN: 1446-8956

Keywords

Open Access
Article
Publication date: 18 July 2022

Eucabeth Majiwa, Boon Lee, Jonas Månsson and Clevo Wilson

In this study, the impact of owner-operator and non-owner operator rice mills on productive efficiency is investigated.

Abstract

Purpose

In this study, the impact of owner-operator and non-owner operator rice mills on productive efficiency is investigated.

Design/methodology/approach

Primary data collected from a survey of 111 rice mills in the Mwea region of Kenya are used. A metafrontier approach is employed to measure overall technical efficiency which is decomposed into managerial and organisational efficiency.

Findings

The results reveal no significant difference in overall technical and managerial efficiency between owner and non-owner operated mills. However, a significant difference exists in organisational efficiency of mills: non-owner operated mills were found to be performing significantly better than owner-operated.

Practical implications

The authors provide supporting evidence to the study and discuss some of the significant policy implications stemming from the study.

Originality/value

It is recognised that for owners to take the risk of divesting control to a hired manager rather than manage the firm themselves can have major strategic, financial and often emotional consequences. However, there is little empirical evidence on how production efficiency will develop as a result of hiring a manager with the underlying economic theory providing ambiguous guidance. Standard economic theory assumes that firms behave as profit maximisers, which can be achieved by operating efficiently. However, this may not always be the case and as the literature indicates, this may especially be so for small businesses in low- and middle-income countries.

Details

Journal of Economic Studies, vol. 50 no. 4
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 1 April 2014

Carlos Pestana Barros, Vincenzo Scafarto and António Samagaio

This paper analyses the cost efficiency of Italian football clubs using a stochastic frontier model. The frontier estimation confirmed that the model fits the data well with all…

Abstract

This paper analyses the cost efficiency of Italian football clubs using a stochastic frontier model. The frontier estimation confirmed that the model fits the data well with all coefficients correctly signed and in line with the theoretical requirements. Marketing and Sponsorship is taken into account as an explanatory variable and the factors which contributed to these findings, as well as other policy implications, are provided.

Details

International Journal of Sports Marketing and Sponsorship, vol. 15 no. 4
Type: Research Article
ISSN: 1464-6668

Keywords

Article
Publication date: 3 October 2016

Mustafeed Zaman, Laurent Botti and Tan Vo Thanh

The purpose of this study is to examine the relationship between the managerial efficiency and the customer satisfaction of Parisian boutique hotels by using the multi-criteria…

2241

Abstract

Purpose

The purpose of this study is to examine the relationship between the managerial efficiency and the customer satisfaction of Parisian boutique hotels by using the multi-criteria decision analysis (MCDA) methods.

Design/methodology/approach

In the first stage, hotels’ managerial efficiency is assessed by data envelopment analysis to establish which hotel has the most efficient performance. In the second stage, the customer satisfaction of these hotels is estimated by the ELECTRE (ELimination et Choix Traduisant la RÉalité) method to assess the hotel’s ability to satisfy their customers.

Findings

Empirical results show that there is an inverse relation between customer satisfaction and ability to maximise the Revenue per Available Room (RevPAR). In other words, trying to improve efficiency implies a reduction in guests’ satisfaction (and vice versa).

Research limitations/implications

Therefore, through this research the authors can realise that hotel managers should give more attention to customer service because it has a more direct and important impact on customer satisfaction. It also positively impacts on resource management. However, there are some limitations to this study. First, this study only focuses on 12 hotels. Because the data set is very confidential, it is very difficult to have a bigger sample. Then, the evaluation is based on 2014 figures only. It could be interesting to know their performance for previous years to understand their evolution. Finally, it is necessary to know the percentage of direct reservations for each hotel. For instance, if a hotel is relying too much on online travel agents (i.e. Booking.com, Expedia, etc.), it needs to pay a significant amount of commission to these companies. As a result, it could have a good RevPAR but might pay a huge commission (for example, 20 per cent for most of sites) at the end. In terms of perspectives, it is necessary to conduct a more extensive research to test the hypothesis in a different context. Additionally, the data were taken for a single period of time. It will be very interesting to create a panel of hotels and collect data over a period of time (Barros, 2005; Barros and Santos, 2006; Barros and Deike, 2008). This would enable to better understand the relationship between managerial efficiency and customer satisfaction in a long-term prospective.

Originality/value

This paper presents the relationship between the managerial efficiency and customer satisfaction in Parisian boutique hotels context. Study suggests that in service industry, increase of firm’s efficiency could negatively impact the guest satisfaction. Therefore, through studying the authors can realise that why hotel managers should focus on customer satisfaction, which attributes play the vital role in customer satisfaction and how to optimize their resources. One of the originalities of this paper is that the authors use the customers’ feedback from the UGC websites (Trip Advisor and Booking.com) as the performance evaluation indicators for customer satisfaction. The data are very confidential and hard to get.

Details

International Journal of Culture, Tourism and Hospitality Research, vol. 10 no. 4
Type: Research Article
ISSN: 1750-6182

Keywords

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