Efficiency Measures for Spanish Retailing Firms in a Regulated Market

Justo de Jorge, Cristina Su?rez
2007 Journal of economic development  
The objective of this work is to analyze the impact on Spanish retail firms' efficiency of the regulatory process experienced in the period 1996-2002. The intangible nature of services makes them more difficult to quantify, so we combine work measurements with the methodology of the stochastic frontier production function for unbalanced panel data, and for which the firm effects are an exponential function of time. Furthermore, we obtain other relevant technological measurements of these
more » ... nts of these productive processes such as the scale and the technical progress parameters. Our econometric results show great heterogeneity in the firms' efficiency but without change over the period and the predominance of decreasing returns to scale. They also indicate that technological progress was produced.
doi:10.35866/caujed.2007.32.1.003 fatcat:uy2ew22x3fgjvo4msebpy4zufy