Technical efficiency of Spanish construction sector pre- and post- housing bubble burst

The main objectives of this paper are to measure the technical efficiency levels of Spanish construction sector before and during the current financial crisis and to investigate the degree to which various factors influence efficiency levels in this sector. Stocastic frontier analysis (SFA) methods...

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Detalhes bibliográficos
Autor: Fernández López, Xosé Luis|||0000-0002-2694-9359
Tipo de documento: dissertação
Data de publicação:2013
País:España
Recursos:Universidad de Cantabria (UC)
Repositório:UCrea Repositorio Abierto de la Universidad de Cantabria
Idioma:inglês
OAI Identifier:oai:repositorio.unican.es:10902/4829
Acesso em linha:http://hdl.handle.net/10902/4829
Access Level:Acceso aberto
Palavra-chave:Sector de la construcción
Burbuja inmobiliaria
Construction sector
Housing bubble
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spelling Technical efficiency of Spanish construction sector pre- and post- housing bubble burstFernández López, Xosé Luis|||0000-0002-2694-9359Sector de la construcciónBurbuja inmobiliariaConstruction sectorHousing bubbleThe main objectives of this paper are to measure the technical efficiency levels of Spanish construction sector before and during the current financial crisis and to investigate the degree to which various factors influence efficiency levels in this sector. Stocastic frontier analysis (SFA) methods are applied to firm-level data over the period 1996-2011. Despite its contribution to the Spanish economy the technical efficiency of the Spanish construction industry has neither been measured, nor the factors influencing the efficiency have been analyzed. The results show that technical efficiency is significantly shorter at the beginning of the financial crisis than during the financial crisis. Results also show that firms that went bankrupt, on average have a lower technical efficiency level than firms that did not go bankrupt in the period before the Spanish housing bubble burst. We also identify several important factors affecting technical efficiency levels. Our empirical results indicate that age, size, level of diversification, level of corporate transparency an level of debt have a significant influence on technical efficiency levels.Máster en Economía: Instrumentos del Análisis EconómicoCoto Millán, PabloUniversidad de Cantabria20132013-09-01master thesishttp://purl.org/coar/resource_type/c_bdccNAhttp://purl.org/coar/version/c_be7fb7dd8ff6fe43info:eu-repo/semantics/masterThesishttp://hdl.handle.net/10902/4829reponame:UCrea Repositorio Abierto de la Universidad de Cantabriainstname:Universidad de Cantabria (UC)Inglésengopen accesshttp://purl.org/coar/access_right/c_abf2Atribución-NoComercial-SinDerivadas 3.0 Españahttp://creativecommons.org/licenses/by-nc-nd/3.0/es/info:eu-repo/semantics/openAccessoai:repositorio.unican.es:10902/48292026-06-02T12:39:31Z
dc.title.none.fl_str_mv Technical efficiency of Spanish construction sector pre- and post- housing bubble burst
title Technical efficiency of Spanish construction sector pre- and post- housing bubble burst
spellingShingle Technical efficiency of Spanish construction sector pre- and post- housing bubble burst
Fernández López, Xosé Luis|||0000-0002-2694-9359
Sector de la construcción
Burbuja inmobiliaria
Construction sector
Housing bubble
title_short Technical efficiency of Spanish construction sector pre- and post- housing bubble burst
title_full Technical efficiency of Spanish construction sector pre- and post- housing bubble burst
title_fullStr Technical efficiency of Spanish construction sector pre- and post- housing bubble burst
title_full_unstemmed Technical efficiency of Spanish construction sector pre- and post- housing bubble burst
title_sort Technical efficiency of Spanish construction sector pre- and post- housing bubble burst
dc.creator.none.fl_str_mv Fernández López, Xosé Luis|||0000-0002-2694-9359
author Fernández López, Xosé Luis|||0000-0002-2694-9359
author_facet Fernández López, Xosé Luis|||0000-0002-2694-9359
author_role author
dc.contributor.none.fl_str_mv Coto Millán, Pablo
Universidad de Cantabria
dc.subject.none.fl_str_mv Sector de la construcción
Burbuja inmobiliaria
Construction sector
Housing bubble
topic Sector de la construcción
Burbuja inmobiliaria
Construction sector
Housing bubble
description The main objectives of this paper are to measure the technical efficiency levels of Spanish construction sector before and during the current financial crisis and to investigate the degree to which various factors influence efficiency levels in this sector. Stocastic frontier analysis (SFA) methods are applied to firm-level data over the period 1996-2011. Despite its contribution to the Spanish economy the technical efficiency of the Spanish construction industry has neither been measured, nor the factors influencing the efficiency have been analyzed. The results show that technical efficiency is significantly shorter at the beginning of the financial crisis than during the financial crisis. Results also show that firms that went bankrupt, on average have a lower technical efficiency level than firms that did not go bankrupt in the period before the Spanish housing bubble burst. We also identify several important factors affecting technical efficiency levels. Our empirical results indicate that age, size, level of diversification, level of corporate transparency an level of debt have a significant influence on technical efficiency levels.
publishDate 2013
dc.date.none.fl_str_mv 2013
2013-09-01
dc.type.none.fl_str_mv master thesis
http://purl.org/coar/resource_type/c_bdcc
NA
http://purl.org/coar/version/c_be7fb7dd8ff6fe43
dc.type.openaire.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
dc.identifier.none.fl_str_mv http://hdl.handle.net/10902/4829
url http://hdl.handle.net/10902/4829
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
Atribución-NoComercial-SinDerivadas 3.0 España
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
eu_rights_str_mv openAccess
dc.source.none.fl_str_mv reponame:UCrea Repositorio Abierto de la Universidad de Cantabria
instname:Universidad de Cantabria (UC)
instname_str Universidad de Cantabria (UC)
reponame_str UCrea Repositorio Abierto de la Universidad de Cantabria
collection UCrea Repositorio Abierto de la Universidad de Cantabria
repository.name.fl_str_mv
repository.mail.fl_str_mv
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