how hospital efficiency varies with ownership, patient structure,and other exogenous factors, which are neither inputs nor … hospitals. -- Hospital efficiency ; ownership ; stochastic frontier analysis ; profit function …

observable hospital-specific and federal state-specific characteristics or unobservable factors. …

responsiveness to changes in demand for hospital services in Germany between 1996 and 2006. With respect to the speed of adaptation … owned hospitals. Thus, the study finds evidence that to some extent the privatization of the hospital sector may be an … adequate answer to reduce excess capacities. -- Hospital ownership ; privatization ; hospital market structure …

development over time.We measure financial performance by a hospital-specific yearly probability of default (PD). Using a panel of … hospital data, our models allow for state dependence in the PD as well as unobserved individual heterogeneity. We find that … because the German hospital market has substantial excess capacities …