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Capital Yields Assessment Trough Cross Section Production Function

Author

Listed:
  • Jan Kodera
  • Václava Pánková

Abstract

A theoretical support for capital yields determination is presented based on the neo-classical microeconomics assumptions. Starting by relevant production function of a sector and having in mind an optimising behaviour of firms, we propose to measure the capital yields by the help of a minimum marginal product of capital in the industrial sector. The analysis of sector is completed by defining a technical efficiency and its computation. The survey of the real rate of return and technical efficiency of five sectors of Czech economy is presented in the article. Computed rates of return could be adjusted and used as a discount factor for valuation of firms of given sector.

Suggested Citation

  • Jan Kodera & Václava Pánková, 2001. "Capital Yields Assessment Trough Cross Section Production Function," Bulletin of the Czech Econometric Society, The Czech Econometric Society, vol. 8(14).
  • Handle: RePEc:czx:journl:v:8:y:2001:i:14:id:104
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    File URL: http://ces.utia.cas.cz/bulletin/index.php/bulletin/article/view/104
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    More about this item

    Keywords

    yields of capital; cross-section production functions; frontier production function; and maximisation of profit; technical efficiency;

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory

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