Creating Innovations, Productivity and Growth - the efficiency of Icelandic firms
Iceland is one of the smallest European economies and the country was hit severely by the 2008-financial crisis. This paper considers the economy in the period preceding the collapse. Applying a Data Envelopment Analysis on 204 randomly selected firms, the results suggest that a substantial fraction of the Icelandic firms can be classified as non-efficient in their production process. The production scale of many manufacturing firms is too small to be technically efficient, while service firms typically use excessive resources in their production process. A remarkably weak performance in transforming R&D and labour efforts into successful innovations is observed.
|Date of creation:||15 Jan 2009|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +46 8 790 95 63
Web page: http://www.infra.kth.se/cesis/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Guan, Jian Cheng & Yam, Richard C.M. & Mok, Chiu Kam & Ma, Ning, 2006. "A study of the relationship between competitiveness and technological innovation capability based on DEA models," European Journal of Operational Research, Elsevier, vol. 170(3), pages 971-986, May.
- Duzakin, Erkut & Duzakin, Hatice, 2007. "Measuring the performance of manufacturing firms with super slacks based model of data envelopment analysis: An application of 500 major industrial enterprises in Turkey," European Journal of Operational Research, Elsevier, vol. 182(3), pages 1412-1432, November.
- Pentzaropoulos, G. C. & Giokas, D. I., 2002. "Comparing the operational efficiency of the main European telecommunications organizations: A quantitative analysis," Telecommunications Policy, Elsevier, vol. 26(11), pages 595-606, December.
- Castellacci, Fulvio & Zheng, Jinghai, 2010.
"Technological regimes, Schumpeterian patterns of innovation and firm level productivity growth,"
27588, University Library of Munich, Germany.
- Fulvio Castellacci & Jinghai Zheng, 2010. "Technological regimes, Schumpeterian patterns of innovation and firm-level productivity growth," Industrial and Corporate Change, Oxford University Press, vol. 19(6), pages 1829-1865, December.
- Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, vol. 2(6), pages 429-444, November.
- William W. Cooper & Kyung Sam Park & Gang Yu, 1999. "IDEA and AR-IDEA: Models for Dealing with Imprecise Data in DEA," Management Science, INFORMS, vol. 45(4), pages 597-607, April.
- Yang, Ji-Chung, 2006. "The efficiency of SMEs in the global market: Measuring the Korean performance," Journal of Policy Modeling, Elsevier, vol. 28(8), pages 861-876, November.
- Sueyoshi, Toshiyuki, 1999. "Tariff structure of Japanese electric power companies: An empirical analysis using DEA," European Journal of Operational Research, Elsevier, vol. 118(2), pages 350-374, October.
- Bozec, Richard & Dia, Mohamed, 2007. "Board structure and firm technical efficiency: Evidence from Canadian state-owned enterprises," European Journal of Operational Research, Elsevier, vol. 177(3), pages 1734-1750, March.
- Keh, Hean Tat & Chu, Singfat, 2003. "Retail productivity and scale economies at the firm level: a DEA approach," Omega, Elsevier, vol. 31(2), pages 75-82, April.
- Wu, Zai Bin & Yeung, Godfrey & Mok, Vincent & Han, Zhaozhou, 2007. "Firm-specific knowledge and technical efficiency of watch and clock manufacturing firms in China," International Journal of Production Economics, Elsevier, vol. 107(2), pages 317-332, June.
- Tsai, Hsiang-Chih & Chen, Chun-Mei & Tzeng, Gwo-Hshiung, 2006. "The comparative productivity efficiency for global telecoms," International Journal of Production Economics, Elsevier, vol. 103(2), pages 509-526, October.
- Brown, Rayna, 2006. "Mismanagement or mismeasurement? Pitfalls and protocols for DEA studies in the financial services sector," European Journal of Operational Research, Elsevier, vol. 174(2), pages 1100-1116, October.
- Soteriou, Andreas C. & Zenios, Stavros A., 1999. "Using data envelopment analysis for costing bank products," European Journal of Operational Research, Elsevier, vol. 114(2), pages 234-248, April.
- Joe Zhu & Zhao-Han Shen, 1995. "A discussion of testing DMUs' returns to scale," European Journal of Operational Research, Elsevier, vol. 81(3), pages 590-596, March.
- R. D. Banker & A. Charnes & W. W. Cooper, 1984. "Some Models for Estimating Technical and Scale Inefficiencies in Data Envelopment Analysis," Management Science, INFORMS, vol. 30(9), pages 1078-1092, September.
- Dimara, Efthalia & Skuras, Dimitris & Tsekouras, Kostas & Tzelepis, Dimitris, 2008. "Productive efficiency and firm exit in the food sector," Food Policy, Elsevier, vol. 33(2), pages 185-196, April.
- Zhu, Joe, 2000. "Multi-factor performance measure model with an application to Fortune 500 companies," European Journal of Operational Research, Elsevier, vol. 123(1), pages 105-124, May.
- Bergendahl, Goran & Lindblom, Ted, 2008. "Evaluating the performance of Swedish savings banks according to service efficiency," European Journal of Operational Research, Elsevier, vol. 185(3), pages 1663-1673, March.
When requesting a correction, please mention this item's handle: RePEc:hhs:cesisp:0162. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Vardan Hovsepyan)
If references are entirely missing, you can add them using this form.