Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Manufacturers' efficiency disparity: a comparative analysis in the Southeast Asian region

Manufacturers' efficiency disparity: a comparative analysis in the Southeast Asian region The study aims to investigate the profitability and marketability efficiency scores and determinants of 899 listed manufacturers in six Southeast Asian countries: Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.Design/methodology/approachThe study employs the bootstrap two-stage data envelopment analysis (DEA) to measure profitability and marketability efficiencies of Southeast Asian manufacturers. The study uses the panel-data fractional regression model (FRM), which is an advantageous method that is suitable for the fractional response variables and applicable to time-differing heterogeneity, to investigate the determinants of Southeast Asian manufacturers' efficiencies.FindingsThe study demonstrates that listed manufacturers in Indonesia and Singapore achieve the highest average profitability and marketability efficiencies among the six Southeast Asian countries. The study also shows that the cash ratio, institutional ownership, headcount and technology-application positively affect Southeast Asian-listed manufacturers' profitability and marketability efficiencies at different levels of significance.Originality/valueThe current study is the first assessment of the listed manufacturers' profitability and marketability efficiencies in Southeast Asian countries, which consist of different market levels (developed, emerging and frontier markets). The study is a reference source for regional investors, manufacturers' managers and governments to make appropriate decisions in investing, managing and enhancing the development of the Southeast Asian manufacturing sector. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Asia‐Pacific Journal of Business Administration Emerald Publishing

Manufacturers' efficiency disparity: a comparative analysis in the Southeast Asian region

Download PDF
21 pages

Loading next page...
 
/lp/emerald-publishing/manufacturers-efficiency-disparity-a-comparative-analysis-in-the-eaJCSWCN7i
Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
1757-4323
DOI
10.1108/apjba-09-2021-0446
Publisher site
See Article on Publisher Site

Abstract

The study aims to investigate the profitability and marketability efficiency scores and determinants of 899 listed manufacturers in six Southeast Asian countries: Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.Design/methodology/approachThe study employs the bootstrap two-stage data envelopment analysis (DEA) to measure profitability and marketability efficiencies of Southeast Asian manufacturers. The study uses the panel-data fractional regression model (FRM), which is an advantageous method that is suitable for the fractional response variables and applicable to time-differing heterogeneity, to investigate the determinants of Southeast Asian manufacturers' efficiencies.FindingsThe study demonstrates that listed manufacturers in Indonesia and Singapore achieve the highest average profitability and marketability efficiencies among the six Southeast Asian countries. The study also shows that the cash ratio, institutional ownership, headcount and technology-application positively affect Southeast Asian-listed manufacturers' profitability and marketability efficiencies at different levels of significance.Originality/valueThe current study is the first assessment of the listed manufacturers' profitability and marketability efficiencies in Southeast Asian countries, which consist of different market levels (developed, emerging and frontier markets). The study is a reference source for regional investors, manufacturers' managers and governments to make appropriate decisions in investing, managing and enhancing the development of the Southeast Asian manufacturing sector.

Journal

Asia‐Pacific Journal of Business Administration – Emerald Publishing

Published: Jan 2, 2023

Keywords: Comparative analysis; Corporate governance; Emerging market enterprises; Profitability

References

  • Profitability and marketability efficiencies of Vietnam manufacturing firms: an application of a multi-stage process
    Anh, D.L.T.; Gan, C.
  • Inefficiency causes and resolutions towards financial success of Singapore manufacturing enterprises
    Anh, D.L.T.; Gan, C.
  • A blueprint for growth
  • Gross domestic product (GDP) in ASEAN
  • Improving the accuracy of DEA efficiency analysis: a bootstrap application to the health care foodservice industry
    Assaf, A.; Matawie, K.M.
  • What determines the technical efficiency of a firm? The importance of industry, location, and size
    Badunenko, O.; Fritsch, M.; Stephan, A.
  • Evaluating contextual variables affecting productivity using data envelopment analysis
    Banker, R.D.; Natarajan, R.
  • Does institutional ownership improve firm investment efficiency?
    Cao, Y.; Dong, Y.; Lu, Y.; Ma, D.
  • Exploring energy transition in European firms: the role of policy instruments, demand-pull factors and cost-saving needs in driving energy-efficient and renewable energy innovations
    Capozza, C.; Divella, M.; Rubino, A.
  • Third-party logistics efficiency: an innovative two-stage DEA analysis of the French market
    Cavaignac, L.; Dumas, A.; Petiot, R.
  • Measuring the efficiency of decision-making units
    Charnes, A.; Cooper, W.W.; Rhodes, E.
  • Firm age and performance
    Coad, A.; Holm, J.R.; Krafft, J.; Quatraro, F.
  • 2016 Global manufacturing competitiveness Index
    Deloitte
  • International corporate governance and corporate cash holdings
    Dittmar, A.; Mahrt-Smith, J.; Servaes, H.
  • Internal versus external capital markets
    Gertner, R.H.; Scharfstein, D.S.; Stein, J.C.
  • Efficiency, performance and regulation of the international gas industry – a bootstrap DEA approach
    Hawdon, D.
  • Entrepreneurs with glamour? DEA performance characterisation of high-tech and older-established industries
    Hung, S.W.; Wang, A.P.
  • Indonesia economy: stock markets trying to find bottom
  • Linking innovation and firm performance: a new approach
    Klomp, L.; Van Leeuwen, G.
  • ASEAN business guide – the economies of ASEAN and the opportunities they present
  • Agency problems and dividend policies around the world
    La Porta, R.; Lopez-de-Silanes, F.; Shleifer, A.; Vishny, R.W.
  • Investor protection and corporate governance
    La Porta, R.; Lopez-de-Silanes, F.; Shleifer, A.; Vishny, R.W.
  • Investor protection and corporate valuation
    La Porta, R.; Lopez-de-Silanes, F.; Shleifer, A.; Vishny, R.W.
  • Developments in corporate governance: the case of Vietnam
    Lien, T.T.H.; Holloway, D.A.
  • Performance evaluation for sustainable business: a profitability and marketability framework
    Lo, S.
  • The impact of size and age on firm-level performance: some evidence from India
    Majumdar, S.K.
  • Results of the MSCI 2019 market classification review
  • Diversification and bank efficiency in six ASEAN countries
    Nguyen, T.L.A.
  • Econometric methods for fractional response variables with an application to 401 (k) plan participation rates
    Papke, L.E.; Wooldridge, J.M.
  • Exponential regression of fractional-response fixed-effects models with an application to firm capital structure
    Ramalho, E.A.; Ramalho, J.J.; Coelho, L.M.
  • Fractional regression models for second stage DEA efficiency analyses
    Ramalho, E.A.; Ramalho, J.J.; Henriques, P.D.
  • Productive efficiency in the Hungarian industry
    Reiff, Á.; Sugár, A.; Surányi, É.
  • Efficiency evaluation of food and beverage companies in Thailand: an application of relational two-stage data envelopment analysis
    Rodmanee, S.; Huang, W.C.
  • Efficiency of Islamic banks during the financial crisis: an analysis of Middle Eastern and Asian countries
    Rosman, R.; Wahab, N.A.; Zainol, Z.
  • A comparison of DEA and the stochastic frontier model using panel data
    Ruggiero, J.
  • A bootstrapped robust data envelopment analysis model for efficiency estimating of telecommunication companies in Iran
    Sadjadi, S.J.; Omrani, H.
  • Technical inefficiency, cost frontiers and learning-by-doing in Norwegian farming of juvenile salmonids
    Sandvold, H.
  • Efficiency and profitability: an inverse relationship according to the size of Austrian firm?
    Schneider, F.
  • Profitability and marketability of the top 55 U.S. Commercial banks
    Seiford, L.; Zhu, J.
  • Market efficiency of ASEAN stock markets
    Shaik, M.; Maheswaran, S.
  • Large shareholders and corporate control
    Shleifer, A.; Vishny, R.W.
  • Sensitivity analysis of efficiency scores: how to bootstrap in non-parametric frontier models
    Simar, L.; Wilson, P.W.
  • A general methodology for bootstrapping in nonparametric frontier models
    Simar, L.; Wilson, P.W.
  • Technical efficiency and its determinants: an empirical study on banking sector of Oman
    Singh, D.; Fida, B.A.
  • Internal capital markets and the competition for corporate resources
    Stein, J.C.
  • A two-stage data envelopment analysis model for measuring performance in three-level supply chains
    Tavana, M.; Kaviani, M.A.; Di Caprio, D.; Rahpeyma, B.
  • Manufacturing, value added (current US$)
  • 4.1% GDP gain in 2018
    Theparat, C.
  • Using a probabilistic frontier production function to measure technical efficiency
    Timmer, C.P.
  • Methodological approach to the study of x-efficiencies and scale economies in banking: are smaller banks more efficient than larger banks?
    Toby, A.J.
  • Firm efficiency in a transitional economy: evidence from Vietnam
    Tran, T.B.; Grafton, R.Q.; Kompas, T.
  • The relationship between institutional ownership and casino firm performance
    Tsai, H.; Gu, Z.
  • Context-dependent preferences
    Tversky, A.; Simonson, I.
  • The world's worst major stock market is really, really boring
    Vishnoi, A.
  • Leverage and corporate performance: does institutional environment matter?
    Weill, L.
  • Efficiency assessment of Thai energy industries: using rational two-stage DEA
    Wongchai, A.; Hung, C.H.; Peng, K.C.
  • Technical efficiency of Malaysia's development financial institutions: application of two-stage DEA analysis
    Yadav, R.; Katib, M.N.
  • Capital structure and corporate performance: evidence from Jordan
    Zeitun, R.; Tian, G.G.
  • The highs and lows of the PH market in 2018, outlook for 2019
    Zialcita, S.