Based on the two-step stochastic Meta frontier model developed by Huang et al. (2011), this study establishes translog cost functions. Our purpose is to estimate the performance of firms in terms of cost efficiency in Taiwan’s biotech and pharmaceutical industry, and to analyze group-specific...

This article combines a copula function and multiplicative error models to capture the dependence structure and the volatility patterns simultaneously, named copula-multiplicative error model (cMEM). We examine hedging performance of the presenting cMEM with different estimation window sizes for...

The most present articles adopted the output-oriented Malmquist productivity index (OM) for estimating the production efficiency and productivity of Bank. Based on the method of Yang and Lee (2009), the research provides the new way to discuss cost efficiency and cost growth rate of Taiwanese...

This article investigates sources that lead to the cost growth of eight U.S. forest products industries during the period 1997 to 2005. The cost growth rate decomposes into two components: the cost efficiency change and the cost technical change. Empirical evidences indicate that the cost growth...

This paper examines the ASEAN-5 countries and explores the impact of structural breaks on the level of financial integration in that region. An extended cointegration procedure allowing for three types of structural break, is employed and compared with the standard Johansen procedure, for daily...