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Persistent link: https://www.econbiz.de/10009618703
In the course of railway reforms in the end of the last century, national European governments, as well the EU Commission, decided to open markets and to separate railway networks from train operations. Vertically integrated railway companies companies owning a network and providing transport...
Persistent link: https://www.econbiz.de/10003314753
In this paper, we conduct a pan-European efficiency analysis to investigate the performance of European railways with a particular focus on economies of vertical integration. We test the hypothesis that integrated railways realize economies of scope and, thus, produce railway services with a...
Persistent link: https://www.econbiz.de/10003350582
In the course of railway reforms in the end of the last century, national European governments, as well the EU Commission, decided to open markets and to separate railway networks from train operations. Vertically integrated railway companies - companies owning a network and providing transport...
Persistent link: https://www.econbiz.de/10003351959
This paper analyzes the performance of the European railway sector in the period of deregulation (1990-2005). Using a stochastic frontier panel data model that controls for unobserved heterogeneity a multiple-output multipleinput distance function model is estimated in order to evaluate the...
Persistent link: https://www.econbiz.de/10003770485
Persistent link: https://www.econbiz.de/10003989905
Persistent link: https://www.econbiz.de/10009305835
In this study, we address a major problem in the measurement of firm performance and the regulation of natural monopolies, namely the intertemporal character of long-term investment decisions. In specific, we focus on the impact of adjustment costs of investments on estimates of firms’...
Persistent link: https://www.econbiz.de/10010253389
In the early 1990s the European Commission and the national governments of the EU member states initiated an extensive deregulation and liberalization process in the European railway industry. Prior to this process, the European railway industry was characterized by loosely connected national...
Persistent link: https://www.econbiz.de/10010201457
Several countries around the world have introduced reforms to the electric power sector. One important element of these reforms is the introduction of an unbundling process, i.e., the separation of the competitive activities of supply and production from the monopole activity of transmission and...
Persistent link: https://www.econbiz.de/10009743731