subsidies relative to total costs. However, we also find that non-subsidized firms perform better in terms of cost efficiency …. -- Stochastic cost frontier ; subsidies ; heteroscedasticity ; local public bus transportation ; cost efficiency ; panel data …

subsidies relative to total costs. However, we also find that non-subsidized firms perform better in terms of cost efficiency …

conclude that the public transport authority's experience has an efficiency-increasing impact which supports the introduction …