Despite their high economic importance, academic research has granted KG funds only marginal attention. A main reason is the lack of reliable performance data due to non-observable market prices during the lifetime of a KG fund. In order to measure the performance of KG funds, we construct an index using a database of more than 300 German one-ship companies during the sample period from Decembe…
This paper introduces a Malmquist CO2 emission performance index (MCPI) for measuring changes in total factor carbon emission performance over time. The MCPI is derived by solving several data envelopment analysis models. Bootstrapping MCPI is proposed to perform statistical inferences on the MCPI results. Using the index the emission performance of the world's 18 top CO2 emitters from 1997 …
This paper shows the possibility that, as a simple average, BDI occasionally over- or under-states the status of global dry bulk freight market. In order to overcome this shortcoming, this paper suggests an alternative method of calculating new index by using a common stochastic trend model. This econometric approach to understanding the dynamics of dry bulk freight markets not only provides ne…
In thepastdecades,nearlyalltheChinesecoastalprovincesandmunicipalitiesinvestedheavilyinthe construction ofseaportsandimplementedvariousfavourablepoliciestoimprovetheports'operations. How effectivelyhavetheseeffortsworked?ThispaperusesMalmquistproductivityindextodetermine and analyseproductivitychangeanditsdecompositioninChinesecoastalcontainerterminalsduring 2006–2011.We find thattheaveragegr…