Abstract
Evaluation of European railway companies efficiency: Application of a two-stage analysis
Highlights
Efficiency represents one of the most important performance indicators in railway sector
When the efficiency scores calculated by Data Envelopment Analysis (DEA) are used as dependent variables in regression, we find a good example of censoring, which means that the values of the dependent variable are limited to a range of values
According to M2, SJAB was efficient during the whole period, while according to M1 it showed poor efficiency level
Summary
Efficiency represents one of the most important performance indicators in railway sector. Malmquist index can be used to detect the sources of changes in the frontier, i.e. technological change as a factor of the rise in outputs In addition to these approaches, second-stage analysis is often used in order to evaluate the influence of environmental and exogenous factors on efficiency, by using different techniques [1; 13]. Since the selection of variables represents critical point in the analysis, this paper aims to compare results from different approaches and analyze the impact of variables selection process on possible conclusions and decisions made based on efficiency analysis. These differences will be inspected using different correlation tests.
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