This study investigates the influence of corporate sustainability performance (CSP) on firm value through investment efficiency. By applying a panel regression analysis using large sample 26,838 firm-year observations that represent 9218 Asian listed companies over period 2012–2019, we illustrate high increases result coincides with both stakeholder theory and information asymmetry where econom...

This paper describes the foundations of a market mechanism that was designed to stimulate more efficient provisions of forest ecosystem services to society. The proposed tool is a competitive multi-unit public goods subscription game of incomplete information. A conceptual and mathematical characterization of the game is followed by an illustrative example where Pareto-efficient bundles of timb...

Literature on Cultural Economics gives us some examples about how to measure technical efficiency. But, to the best of our knowledge, there is a lack in the case of allocative efficiency analysis. The aim of this paper is to fill this gap incorporating to Cultural Economics a methodology that analyzes both technical and allocative efficiency. Concretely, we use a Shepard’s distance function whi...

Efficiency analysis of electricity distribution networks is often limited to technical or cost efficiency measures. However, some important non-tradable aspects of their service such as quality of service and network energy losses are generally not part of the analysis. A regulatory concern is that technical efficiency can be achieved at the expense of these measures as well as allocative effic...

A common characteristic of basic material manufacturers (which account for 85% of all industrial energy use) and of cleantech manufacturers is that they are price-takers in their input and output markets. Variability in those prices has implications for how much a manufacturer should invest in three fundamental types of process improvement. Input price variability reduces the value of improving...