The present paper examines stochastic cost functions of Malaysian commercial banks from 1991 to 1997 periods and catches the changes in their management structure and technical efficiency. Then, we also discuss policy implications for bank integration and competition policy which is the part of...

Profitability change can be decomposed into the product of a total factor productivity (TFP) index and an index measuring changes in relative prices. Many TFP indexes can be further decomposed into measures of technical change, technical efficiency change, scale efficiency change and mix...

In the course of railway reforms in the end of the last century, national European governments, as well the EU Commission, decided to open markets and to separate railway networks from train operations. Vertically integrated railway companies - companies owning a network and providing transport...

In the course of railway reforms in the end of the last century, national European governments, as well the EU Commission, decided to open markets and to separate railway networks from train operations. Vertically integrated railway companies companies owning a network and providing transport...

In this paper, we conduct a pan-European efficiency analysis to investigate the performance of European railways with a particular focus on economies of vertical integration. We test the hypothesis that integrated railways realize economies of scope and, thus, produce railway services with a...