The Effects of Human Resource Factors on Firm Efficiency: A Bayesian Stochastic Frontier Analysis

This study proposes a Bayesian stochastic frontier model that is well-suited to productivity/efficiency analysis particularly using panel data. A unique feature of our proposal is that both production frontier and efficiency are estimable for each individual firm and their linkage to various firm ch...

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Bibliographic Details
Published inThe International journal of advanced culture technology Vol. 6; no. 4; pp. 292 - 302
Main Authors Shin, Sangwoo, Chang, Hyejung
Format Journal Article
LanguageKorean
Published 2018
Subjects
Bayesian stochastic frontier analysis
Markov Chain Monte Carlo
Human Capital Corporate Panel data
Human resources
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Summary:This study proposes a Bayesian stochastic frontier model that is well-suited to productivity/efficiency analysis particularly using panel data. A unique feature of our proposal is that both production frontier and efficiency are estimable for each individual firm and their linkage to various firm characteristics enriches our understanding of the source of productivity/efficiency. Empirical application of the proposed analysis to Human Capital Corporate Panel data enables identification and quantification of the effects of Human Resource factors on firm efficiency in tandem with those of firm types on production frontier. A comprehensive description of the Markov Chain Monte Carlo estimation procedure is forwarded to facilitate the use of our proposed stochastic frontier analysis.
Bibliography:KISTI1.1003/JNL.JAKO201810263412469
ISSN:2288-7202
2233-7318