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The analysis of technical efficiency of Russian retail companies in 2019–2023

Author

Listed:
  • Galina Besstremyannaya

    (HSE University, Moscow, Russian Federation)

  • Yulia Kuznetsova

    (HSE University, Moscow; Rostov Regional Division of the Southern Main Branch of the Central Bank of the Russian Federation, Rostov-on-Don, Russian Federation)

Abstract

This paper studies the technical efficiency of Russian retail companies in 2019 to 2023 using stochastic frontier analysis (SFA) with the Battese and Coelli (1995) model. A translogarithmic production function is employed for estimations. The dependent variable is company revenue, and the production factors are the average number of employees, fixed assets, and assets less fixed assets, along with year-specific dummies. The mean distribution of the inefficiency component is modeled as a function of company age, total assets, and the regional Herfindahl–Hirschman index, calculated using a sample from the SPARK database. The results of our analysis show that labor makes the largest contribution to revenue growth, with increasing returns to scale, albeit close to constant. Revenue increased annually throughout the period under study. Average technical efficiency in the industry exhibits an inverted-U-shaped relationship with firm age and size. Technical efficiency declined significantly during the pandemic but showed steady growth in subsequent years.

Suggested Citation

  • Galina Besstremyannaya & Yulia Kuznetsova, 2026. "The analysis of technical efficiency of Russian retail companies in 2019–2023," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 82, pages 26-46.
    • Handle: RePEc:ris:apltrx:022708
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    Keywords

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    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • C4 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics
    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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