A two-stage DEA approach to analyse the efficiency of the hospitality sector

2018 ◽  
Vol 24 (3) ◽  
pp. 352-365 ◽  
Author(s):  
Manuela Pulina ◽  
Valentina Santoni
Keyword(s):  
Data Envelopment ◽  
Balance Sheets ◽  
Sales Revenue ◽  
Standard Data ◽  
Labour Costs ◽  
Short Run ◽  
Hospitality Sector ◽  
The Cost ◽  
Strong Seasonality

This article explores the performance of the hospitality sector in Sardinia (Italy) using empirical data collected from company balance sheets (from 2004 to 2013). A standard data envelopment analysis (DEA) is run using sales revenue as an output and the monetary value of all tangible and intangible assets as well as labour costs as inputs. Following the Simar–Wilson approach, a post-DEA is also carried out to investigate the factors that influence hotels’ economic efficiency. The empirical results show that business default and the cost of money negatively influence hotels’ performance and that firms located in highly specialized areas with a strong seasonality are relatively inefficient. Furthermore, the short-run debt index and the long-term debt index positively impact efficiency.

Implications of the Global Financial Crisis on Korea's Trade

2009 ◽  
Vol 8 (3) ◽  
pp. 46-81 ◽  
Author(s):  
Sangyeon Hwang ◽  
Hyejoon Im
Keyword(s):  
Trade Balance ◽  
Global Financial Crisis ◽  
Domestic Demand ◽  
Balance Sheets ◽  
Positive Effects ◽  
The World ◽  
World Demand ◽  
Short Run ◽  
The Global Financial Crisis

In this paper, we examine the channels through which the current global crisis affects Korea's trade and assess the implications thereof. These five important channels under investigation are: (1) world demand, (2) domestic demand, (3) exchange rate, (4) credit markets, and (5) protectionism. We conclude that the world demand channel is the most important factor for the recovery of Korea's exports. We expect that depreciation followed by the crisis should generate only small positive effects on a trade balance in the short run. However, depreciation can erode the long-term competitiveness of domestic firms because it can deteriorate not only firms' balance sheets but also banks' balance sheets.

Is China an Anomaly for the “Law Matters” Hypothesis?

2014 ◽  
Vol 1 (2) ◽  
pp. 339-365 ◽  
Author(s):  
Guangdong XU
Keyword(s):  
Economic Growth ◽  
Environmental Quality ◽  
Economic Miracle ◽  
Governing Factor ◽  
Short Run ◽  
Factor Markets ◽  
The Law ◽  
The Government ◽  
The Cost

AbstractIt has long been argued that the legal system does not have a strong role in explaining China’s economic miracle; therefore, China is often presented as an anomaly for the “law matters” hypothesis. This study contributes to the debate from a unique perspective by examining the connection between law and the operation of factor markets. In China, laws and regulations governing factor markets have been systematically distorted by the government, intentionally or unintentionally, to facilitate the nation’s enormous economic growth in the short run at the cost of environmental quality, ordinary citizens’ welfare, and long-term economic health. Thus, China has become a fast-growing but unsustainable economy.

scholarly journals Analyzing the Efficiency of Dairy Farms by Using the Method of Data Envelopment Analysis (DEA)

2010 ◽  
pp. 17-21
Author(s):  
Tímea Gál ◽  
Gábor Grasselli ◽  
István Komlósi
Keyword(s):  
Data Envelopment Analysis ◽  
Programming Model ◽  
Animal Health ◽  
Dairy Farms ◽  
Data Envelopment ◽  
Health Products ◽  
The Cost ◽  
Milk And Dairy Products ◽  
The Eu

In Hungary the dairy sector is in a long-term critical period, the stock has been in constant decline. The consumption of milk and dairy products in Hungary is slightly rising compared to the world tendency, and it is fallen behind the level in 1990. The milk consumption per capita in 2006 was with 75 liters less than the EU-15 average. Dairy enterprise is a very risky activity: the profitability of the enterprise is affected by the fluctuation of feed and animal health products prices from the side of inputs, and by the fluctuation of end-product prices. Under these circumstances it is vital for thecattle breeders, in order to survive, to harness the reserves in the breeding as effectively as possible. In our research we made a multi-faceted efficiency analysis of an agricultural holding’s three dairy farms. The chosen method for the analysis was Data Envelopment Analysis (DEA). Theselection of the method is justified by the fact that there is not such a reliable database by which we could define production functions, and that DEA makes possible to manage several inputs and outputs, i.e. multiple decision problems, simultaneously. By using DEA the sources that causes shortfalls can be identified, analyzed and quantified on farms that does not operate efficiently, thus it can help the corporate decision support successfully. In the model inputs are the cost data per one liter milk – feed, medicinal product use, logistic costs -, and the main parametersconcerning the keeping and rearing. Outputs are indicators concerning milk production, milk quality and others. We prepared the model in MS Excel, the linear programming model series were programmed by Visual Basic. After solving the model, in light of the shadow prices we can determine why either of the farms is not efficient.

Radiofrequency ablation versus cryoablation for atrioventricular nodal re-entrant tachycardia in children: a value comparison

2016 ◽  
Vol 27 (2) ◽  
pp. 224-228
Author(s):  
Matthew E. Oster ◽  
Zhou Yang ◽  
Kay Stewart-Huey ◽  
Michelle Glanville ◽  
Arlene Porter ◽  
...  
Keyword(s):  
Radiofrequency Ablation ◽  
Hospital Costs ◽  
Fixed Costs ◽  
Short Term ◽  
A Value ◽  
Labour Costs ◽  
Acute Success ◽  
The Cost ◽  
Procedure Type

AbstractBackgroundIt is unclear whether cryoablation or radiofrequency ablation offers better value for treating atrioventricular nodal re-entrant tachycardia in children. We aimed to compare the value of these procedures for treating atrioventricular nodal re-entrant tachycardia in children, with value being outcomes relative to costs.MethodsWe performed a retrospective cohort study of all atrioventricular nodal re-entrant tachycardia ablations for children (age⩽18 years) from July, 2009 to June, 2011 at our institution. Costs included fixed costs, miscellaneous hospital costs, and labour costs, and key outcomes were acute and long-term success (6 months) of the ablations. We conducted T-tests and regression analyses to investigate the associations between the ablation procedure type and the cost and success of the ablations.ResultsOf 96 unique cases performed by three paediatric electrophysiologists, 48 were cryoablation only, 42 radiofrequency ablation only, and six were a combination. Acute success was 100% for the cryoablation only and radiofrequency ablation only cases and 83% for the combination cases. There were no notable adverse events. The average total cost was $9636 for cryoablation cases, $9708 for radiofrequency ablation cases, and $10,967 for combination cases (p=0.51 for cryoablation only versus radiofrequency ablation only). The long-term success rate was 79.1% for cryoablation only, 92.8% for radiofrequency ablation only, and 66.7% for the combination (p=0.01 for cryoablation only versus radiofrequency ablation only), but long-term success varied notably by provider.ConclusionsCryoablation and radiofrequency ablation offer similar value in the short term for the treatment of atrioventricular nodal re-entrant tachycardia in children. Differences in long-term success may vary substantially by physician, and thus may lead to differences in long-term value.

Artificial Intelligence in the Hospitality Sector

2021 ◽  
pp. 257-278
Author(s):  
Debdutta Choudhury
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Changing Roles ◽  
Hospitality Sector ◽  
Long Term Impact ◽  
The Cost ◽  
And Robotics

Hospitality is one of the most important sectors of the economy and offers employment to thousands of people. The recent advances in technology has seen that quite a few of the players in this industry have successfully deployed artificial intelligence, machine learning, and robotics. This chapter delves into the details of such deployment in the various processes in this sector and discusses the short-term, medium-term, and long-term impact of these technologies on all the major stakeholders of this industry. The author also looks at the cost benefit analysis of this technologies and concludes that most players sooner, rather than later would be forced by competition to strongly adopt them. The chapter also briefly discusses the changing roles of human employees in this scenario.

A generalized fuzzy cost efficiency model

2020 ◽  
Vol 54 (6) ◽  
pp. 1775-1791
Author(s):  
Nazila Aghayi ◽  
Samira Salehpour
Keyword(s):  
Cost Efficiency ◽  
Minimum Cost ◽  
Extensive Literature ◽  
Data Envelopment ◽  
Fuzzy Environment ◽  
Decision Making Unit ◽  
Production Possibility Set ◽  
Fuzzy Cost ◽  
The Cost ◽  
Generalized Cost

The concept of cost efficiency has become tremendously popular in data envelopment analysis (DEA) as it serves to assess a decision-making unit (DMU) in terms of producing minimum-cost outputs. A large variety of precise and imprecise models have been put forward to measure cost efficiency for the DMUs which have a role in constructing the production possibility set; yet, there’s not an extensive literature on the cost efficiency (CE) measurement for sample DMUs (SDMUs). In an effort to remedy the shortcomings of current models, herein is introduced a generalized cost efficiency model that is capable of operating in a fuzzy environment-involving different types of fuzzy numbers-while preserving the Farrell’s decomposition of cost efficiency. Moreover, to the best of our knowledge, the present paper is the first to measure cost efficiency by using vectors. Ultimately, a useful example is provided to confirm the applicability of the proposed methods.

Primary varicose veins

Phlebologie ◽  
2010 ◽  
Vol 39 (03) ◽  
pp. 133-137
Author(s):  
H. Partsch
Keyword(s):  
Varicose Veins ◽  
Compression Therapy ◽  
Daily Practice ◽  
Clinical Severity ◽  
Compression Stockings ◽  
Primary Varicose Veins ◽  
The Cost ◽  
Convincing Data ◽  
Long Term Studies

SummaryBackground: Compression stockings are widely used in patients with varicose veins. Methods: Based on published literature three main points are discussed: 1. the rationale of compression therapy in primary varicose veins, 2. the prescription of compression stockings in daily practice, 3. studies required in the future. Results: The main objective of prescribing compression stockings for patients with varicose veins is to improve subjective leg complaints and to prevent swelling after sitting and standing. No convincing data are available concerning prevention of progression or of complications. In daily practice varicose veins are the most common indication to prescribe compression stockings. The compliance depends on the severity of the disorder and is rather poor in less severe stages. Long-term studies are needed to proof the cost-effectiveness of compression stockings concerning subjective symptoms and objective signs of varicose veins adjusted to their clinical severity. Conclusion: Compression stockings in primary varicose veins are able to improve leg complaints and to prevent swelling.

An Evaluation of Provincial Macroeconomic Performance in Vietnam

2017 ◽  
pp. 34-47
Author(s):  
Hoi Le Quoc ◽  
Nam Pham Xuan ◽  
Tuan Nguyen Anh
Keyword(s):  
Development Strategy ◽  
Institutional Transformation ◽  
Economic Indicators ◽  
Macroeconomic Performance ◽  
Economic Development Strategy ◽  
Socio Economic Development ◽  
The Cost ◽  
Development Objectives ◽  
First Time

The study was targeted at developing a methodology for constructing a macroeconomic performance index at a provincial level for the first time in Vietnam based on 4 groups of measurements: (i) Economic indicators; (ii) oriented economic indicators; (iii) socio-economic indicators; and (iv) economic - social – institutional indicators. Applying the methodology to the 2011 - 2015 empirical data of all provinces in Vietnam, the research shows that the socio-economic development strategy implemented by those provinces did not provide balanced outcomes between growth and social objectives, sustainability and inclusiveness. Many provinces focused on economic growth at the cost of structural change, equality and institutional transformation. In contrast, many provinces were successful in improving equality but not growth. Those facts threaten the long-term development objectives of the provinces.

Determinants of Inflation in Vietnam: A VECM Approach

2015 ◽  
Vol 22 (04) ◽  
pp. 26-50
Author(s):  
Ngoc Tran Thi Bich ◽  
Huong Pham Hoang Cam
Keyword(s):  
Interest Rate ◽  
Crude Oil ◽  
Error Correction ◽  
Budget Deficit ◽  
Oil Prices ◽  
Crude Oil Prices ◽  
Domestic Credit ◽  
Short Run ◽  
The Impact

This paper aims to examine the main determinants of inflation in Vietnam during the period from 2002Q1 to 2013Q2. The cointegration theory and the Vector Error Correction Model (VECM) approach are used to examine the impact of domestic credit, interest rate, budget deficit, and crude oil prices on inflation in both long and short terms. The results show that while there are long-term relations among inflation and the others, such factors as oil prices, domestic credit, and interest rate, in the short run, have no impact on fluctuations of inflation. Particularly, the budget deficit itself actually has a short-run impact, but its level is fundamentally weak. The cause of the current inflation is mainly due to public's expectations of the inflation in the last period. Although the error correction, from the long-run relationship, has affected inflation in the short run, the coefficient is small and insignificant. In other words, it means that the speed of the adjustment is very low or near zero. This also implies that once the relationship among inflation, domestic credit, interest rate, budget deficit, and crude oil prices deviate from the long-term trend, it will take the economy a lot of time to return to the equilibrium state.

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