The main aim of this paper is to investigate the impact of patent applications, development level, employment level and degree of technological diversity on innovation efficiency. Innovation ...efficiency is derived by relating innovation inputs and innovation outputs. Expenditures in Research and Development and Human Capital stand for innovation inputs. Technological knowledge diffusion that comes from spatial and technological neighborhood stands for innovation output. We derive innovation efficiency using Data Envelopment Analysis for 192 European regions for a 12-year period (1995–2006). We also examine the impact of patents production, development and employment level and the level of technological diversity on innovation efficiency using Structural Equation Modeling. This paper contributes a method of innovation efficiency estimation in terms of regional knowledge spillovers and causal relationship of efficiency measurement criteria. The study reveals that the regions presenting high innovation activities through patents production have higher innovation efficiency. Additionally, our findings show that the regions characterized by high levels of employment achieve innovation sources exploitation efficiently. Moreover, we find that the level of regional development has both a direct and indirect effect on innovation efficiency. More accurately, transition and less developed regions in terms of per capita GDP present high levels of efficiency if they innovate in specific and limited technological fields. On the other hand, the more developed regions can achieve high innovation efficiency if they follow a more decentralized innovation policy.
This paper explores the impacts of industrial collaborative agglomeration on industrial sulfur dioxide intensity from a spatiotemporal perspective based on panel data on the 284 prefecture-level ...cities from 2003 to 2019, with systematic consideration of the underlying mechanism of channels and actions. The empirical results show that industrial co-agglomeration significantly intensifies industrial SO
intensity, especially with increasing agglomeration. In addition, its positive spatial spillover effects are established in geographical proximity to the city. Furthermore, the channel analysis shows that the industrial structure path, industrial efficiency path, and industrial scale path account for a sharp increase in industrial SO
intensity. The market forces reverse and moderate this exacerbating process more significantly than the government does, which provides evidence for the importance of pursuing a dynamic equilibrium between them. Finally, there exist heterogeneous effects across cities with different administrative levels, innovation capacities, and macropolicies of special emission limits for air pollutant policy. While arguing for the environmental pollution effects of industrial co-agglomeration, this paper also provides solid support and a new perspective for promoting sustainable economic development and achieving win-win economic and environmental benefits.
Firms invest in a variety of information technologies and seek to align their IT asset portfolios with two key performance outcomes: efficiency and innovation. Existing research makes the ...universalistic assumption that both outcomes will always be realized through firms' IT asset portfolios. There has been limited research on the conditions under which firms' IT asset portfolios should be oriented more toward efficiency or innovation. Here, we argue that the nature of the industry where a firm competes will have a significant moderating effect on the link between firms' IT asset portfolios and efficiency or innovation outcomes. Using panel data that covers a wide range of industry environments, we find that at lower levels of dynamism, munificence, and complexity, IT asset portfolios are associated with a greater increase in efficiency. In contrast, in environments with higher levels of complexity, IT asset portfolios are associated with a greater increase in innovation (i.e., development of new products and processes, and exploration of growth opportunities). These results provide insights about how firms could realize strategic alignment by tailoring their IT asset portfolios toward an efficiency or innovation focus.
When the costs of the inputs and outputs of the units under evaluation are known, the evaluation of the profit efficiency of the units is one of the most significant evaluations that can provide ...valuable information about them. In this research, first, a new definition of the optimal scale size based on the maximization of the average measure of profit efficiency is presented. The average measure of profit efficiency develops the concept of economic efficiency measure by introducing a more accurate measure of efficiency compared to the measure of comparative and profit efficiency. It has been shown that the average measure of profit efficiency in a convex space is equivalent to the measure of profit efficiency in constant returns to scale technology, and then, some models are presented to calculate profit efficiency in a stochastic environment, to increase the ability of profit models in real examples by considering the calculation errors of inputs and outputs. Finally, the proposed method is used in an empirical example to calculate the average profit efficiency of a set of postal areas in Iran.
As an emerging digital asset, Bitcoin has been traded for more than a decade, reaching an impressively high market capitalization and continuing to expand its volume of trading at a rapid pace. Many ...countries have legalized or are considering legalizing a trading platform for this asset, and a set of companies worldwide accept it as a medium of exchange. As a result of this expansion, many studies in finance literature have focused on studying the efficiency of this cryptocurrency. In line with this literature, this paper investigates, using the abnormal returns and abnormal trading volumes methodologies, the dynamics of investors' reaction to the arrival of unexpected favorable and unfavorable information regarding the Bitcoin market in the context of the three famous hypotheses: the overreaction, the uncertain information, and the efficient market hypotheses. Overall, we find evidence confirming that the Bitcoin market tends to mature over time. More precisely, over the entire analyzed period, investors behave in accordance with the predictions of the uncertain information hypothesis when positive and negative events occur. However, splitting the timespan into sub-periods provides interesting insights. Remarkably in this respect is the fact that starting with the second sub-period, the response of investors in the Bitcoin market supports, in a moderate manner, the postulate of the efficient market hypothesis when favorable events are addressed. Moreover, our findings reveal that during the pandemic period, the efficiency of Bitcoin has increased, thus turning this stressful period into an advantage for this cryptocurrency. This improved market efficiency is also supported by the abnormal trading volume analysis.
Today, with the increases in organic fuel prices and growing legislative restrictions aimed at increasing environmental safety and reducing our carbon footprint, the task of increasing thermal power ...plant efficiency is becoming more and more topical. Transforming combusting fuel thermal energy into electric power more efficiently will allow the reduction of the fuel cost fraction in the cost structure and decrease harmful emissions, especially greenhouse gases, as less fuel will be consumed. There are traditional ways of improving thermal power plant energy efficiency: increasing turbine inlet temperature and utilizing exhaust heat. An alternative way to improve energy efficiency is the use of supercritical COsub.2 power cycles, which have a number of advantages over traditional ones due to carbon dioxide’s thermophysical properties. In particular, the use of carbon dioxide allows increasing efficiency by reducing compression and friction losses in the wheel spaces of the turbines; in addition, it is known that COsub.2 turbomachinery has smaller dimensions compared to traditional steam and gas turbines of similar capacity. Furthermore, semi-closed oxy–fuel combustion power cycles can reduce greenhouse gases emissions by many times; at the same time, they have characteristics of efficiency and specific capital costs comparable with traditional cycles. Given the high volatility of fuel prices, as well as the rising prices of carbon dioxide emission allowances, changes in efficiency, capital costs and specific greenhouse gas emissions can lead to a change in the cost of electricity generation. In this paper, key closed and semi-closed supercritical COsub.2 combustion power cycles and their promising modifications are considered from the point of view of energy, economic and environmental efficiency; the cycles that are optimal in terms of technical and economic characteristics are identified among those considered.
This paper estimates efficiency measures for the banking system in Chile for the period 2000-2019. In contrast to previous studies, we use input-distance functions, introduce the nonparametric ...slack-based model, and choose the intermediate inputs approach in determining inputs and outputs. Our results suggest that the Chilean system has achieved relatively high levels of efficiency, although with no significant variation over the sample period. Ownership (government, foreign and public) and size had a positive impact on efficiency. On average, mergers and acquisitions seem to have targeted highly efficient banks in order to improve the overall efficiency of the controlling institution in the short run. Other sources of efficiency gains could be an increase in bond funding or a reduction in expenses and capital holdings. The latter could be induced by deepening the local derivatives market.
This study explores the coupling and coordinated development of new urbanization and eco-efficiency and their interaction mechanisms from the perspective of efficiency, and it has significant ...implications for promoting high-quality development and surpassing in China's regional development.
The study aims to investigate the spatiotemporal distribution pattern of new urbanization efficiency and eco-efficiency and its coupling and coordinated development relationship.
Using panel data from 2010 to 2020 for nine cities in Fujian Province, this study employs the undesired super-efficiency SBM model to measure the efficiency of new urbanization and eco-efficiency. Additionally, a spatial panel Durbin model is constructed to analyze the interaction effect between the two efficiencies.
During the study period, both new urbanization efficiency and eco-efficiency in Fujian Province showed a fluctuating upward trend, with higher efficiency in the southeast than the northwest, exhibiting significant spatial agglomeration effects. Despite high double efficiency coupling, coordinated development was low, evolving from near-disorder to barely coordinated. The high coupling and coordination areas were mainly concentrated in the southeast, with gaps between different regions gradually narrowing. There was positive interaction between dual efficiency in the same region, with new urbanization efficiency showing a positive spatial spillover effect on eco-efficiency. Conversely, the spatial spillover effect of eco-efficiency on new urbanization efficiency was not significant.
Health economic evaluations are comparative analyses of alternative courses of action in terms of their costs and consequences. The Consolidated Health Economic Evaluation Reporting Standards ...(CHEERS) statement, published in 2013, was created to ensure health economic evaluations are identifiable, interpretable, and useful for decision making. It was intended as guidance to help authors report accurately which health interventions were being compared and in what context, how the evaluation was undertaken, what the findings were, and other details that may aid readers and reviewers in interpretation and use of the study. The new CHEERS 2022 statement replaces previous CHEERS reporting guidance. It reflects the need for guidance that can be more easily applied to all types of health economic evaluation, new methods and developments in the field, and the increased role of stakeholder involvement, including patients and the public. It is also broadly applicable to any form of intervention intended to improve the health of individuals or the population, whether simple or complex, and without regard to context (such as healthcare, public health, education, social care, etc.). This summary article presents the new CHEERS 2022 28-item checklist and recommendations for each item. The CHEERS 2022 statement is primarily intended for researchers reporting economic evaluations for peer-reviewed journals as well as the peer reviewers and editors assessing them for publication. However, we anticipate familiarity with reporting requirements will be useful for analysts when planning studies. It may also be useful for health technology assessment bodies seeking guidance on reporting, as there is an increasing emphasis on transparency in decision making.
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