Measuring the Risk-Adjusted Efficiency of Taiwan Motor Transport Company Before and After Privatization
نویسنده
چکیده
In this study a directional output distance function which incorporates both desirable and undesirable output is employed to investigate the impact of privatization experienced by the Taiwan Motor Transport Company (TMTC). For the first time, we measure efficiency changes before and after privatization while treating transport risk as a joint but undesirable output. The empirical results demonstrate that TMTC’s privatization has produced a distinct improvement in efficiency enhancement and as such may be considered to be a source of cost reduction. Key-Words: privatization, bus service, efficiency, transport risks, undesirable output, directional distance function
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