expected profit, the riskiness of profit, profit efficiency, market value, market-value efficiencies, and the risk of … insolvency. Our estimates of expected profit, profit risk, and profit efficiency are based on a structural model of leveraged … Moon (1996). Here, we also estimate two additional measures that gauge efficiency in terms of the market values of assets …

Over the past several years, substantial research effort has gone into measuring the efficiency of financial … measured efficiency. This paper examines several possible sources, including differences in efficiency concept, measurement …

Analysis. The concepts of technical efficiency (both input- and output-oriented), scale efficiency, and cost efficiency are … account for variation in measured efficiency scores due to external factors. …

productive efficiency. Studying the direct effect of diversification on efficiency allows us to discern between two major … theories of corporate diversification: the synergy hypothesis and the agency cost hypothesis. To measure productive efficiency … several advantages over other conventional measures of productive efficiency. Most importantly, it allows one to perform the …

microeconomic point of view. We introduce two measures of production efficiency (the technical and the allocative efficiency) and …-92), firms’ profits showed the first signs of dependency on efficiency. This fact can be taken as evidence of the creation of a …

technique, DEA, developed for efficiency studies. Categorial and continuous variables are used as inputs and auction prices as …

basic asymmetry between number of positive inputs and outputs of the peer units due to more of inputs reducing efficiency … while more of outputs improving efficiency. The special cases of imposing a hierarchical structure on the categorical …