Karligash Kenjegalieva

Loughborough University | Lough · School of Business and Economics

Privatised water companies in England and Wales are subject to economic regulation by the industry regulator (Ofwat). Ofwat sets 5-year caps on the prices companies can charge their customers. These caps are in part based on the benchmarking of companies’ costs. Ofwat has not previously used econometrics to benchmark domestic retail costs, but it u...

We address the question of: 'how many deaths in England and Wales are due to COVID-19?' There are two approaches to measuring COVID deaths - 'COVID associated deaths' and 'excess deaths'. An excess deaths type framework is preferable, as there is substantial measurement error in COVID associated deaths, due to issues relating to the identification...

This paper makes three diverse contributions. First, whereas the extant literature estimates a single elasticity of substitution/complementarity from an input distance function, we calculate a range of elasticities. Second, we make a substantive contribution to the literature on bank input substitution/complementarity because somewhat surprisingly...

The principal contribution of this paper is to present the first method to sift through a large number of firms in an industry to uncover which firms act as large spatial total factor productivity (TFP) growth centers. We define a large spatial TFP growth center as a firm that is a large net generator of spatial TFP growth spillovers, i.e., it is a...

The literature on bank scale economies focuses on the familiar type of returns to scale that are internal to the firm. Using a spatial approach, we analyze returns to scale for banks that are made up of external (i.e., spillover) economies. We extend ray-scale economies (RSE), expansion-path scale economies (EPSE) and expansion-path subadditivity (...

An interesting strand of the theoretical literature on measuring competition posits that when competition increases in an industry, output is reallocated to more efficient firms. Our first contribution is on the methodology for the empirical implementation of this theoretical test of a change in competition. This contribution moves from the relatio...

Urban commercial banks are regional banks which have gained tremendous importance in the last two decades in China. There is, however, a lack of research on regional banking, especially on the Chinese regional banking industry. Therefore, using an innovative spatial approach, this paper investigates the efficiency of 65 Chinese urban commercial ban...

We present the methodology for a new spatial decomposition of total factor productivity (TFP) growth. The relevant literature is underdeveloped as there is just one short study which proposes a partial spatial TFP growth decomposition. We develop this literature in four respects. The first two developments are methodological to go from a partial de...

Previous studies of industry level energy demand have not accounted for the hierarchical nesting of industries within a system that also adequately allows for country specific determinants of energy demand. The principal contribution of this paper is therefore to analyse energy demand for European industries over the period 1995–2009 using a dynami...

We extend the emerging literature on spatial frontier models in three respects. Firstly, we account for latent heterogeneity by developing a maximum likelihood random effects spatial autoregressive (SAR) stochastic frontier model. Secondly, to analyze the finite sample properties of a spatial stochastic frontier model we develop a Monte Carlo exper...

We evaluate feedback methods for oral presentations used in training non-quantitative research skills (literature review and various associated tasks). Training is provided through a credit-bearing module taught to MSc students of banking, economics and finance in the UK. Monitoring oral presentations and providing ‘best practice’ feedback is very...

Drawing on a recent development on the interpretation of spatial econometric models, we extend two classic characteristics of production (returns to scale and diminishing marginal productivity of factor inputs) to the spatial case. In the context of a spatial translog production function we define internal (i.e., direct), external (i.e., indirect),...

By blending seminal literature on non-spatial stochastic frontier models with key contributions to spatial econometrics we develop a spatial autoregressive (SAR) stochastic frontier for panel data. The specification of the SAR frontier allows efficiency to vary over time and across the cross-sections. Efficiency is calculated from a composed error...

It is common in efficiency studies which analyse the environment for pollution to form part of the production technology. Pollution therefore affects efficiency and the TFP growth decomposition. As an alternative approach we draw on theoretical studies from the environmental economics literature, which demonstrate that TFP affects environmental qua...

We exploit the natural distinction between the attacking and defensive aspects of tennis to get a better understanding of the origins of relative inefficiency. Attacking is simply when a player is serving and defending is when a player is returning serve. We use data envelopment analysis to compute the attacking, defensive and overall efficiencies...

During the first phase of the financial crisis in 2008/09, after Iceland and Belgium, Kazakhstan experienced the most significant bank failures as a share of bank system assets. Using rich monthly data for virtually the entire Kazakh banking industry for the period March 2007–December 2010, Stochastic Frontier Analysis (SFA) is used to fit several...

We estimate efficiency and TFP growth for two measures of congestion and two measures of the monetary value of congestion for the largest 88 contiguous cities in the U.S. over the period 1982–2007. Using stochastic frontier analysis we find that the efficiency scores for congestion and the associated ranking of cities is sensitive to the measure of...

In this paper we extend the tests of the monotonicity and concavity of a non-spatial translog production function to the case where there is spatial autoregressive dependence. The tests are then applied using data for 40 European countries over the period 1995-2008.

A new spatial decomposition of TFP growth into direct (own) and indirect (spillover) components is set out. We then apply the decomposition in the context of a spatial autoregressive production frontier analysis of 40 European countries over the period 1995-2008.

In this paper we merge techniques from the efficiency literature with spatial econometric techniques. In particular, we combine calculation of efficiency from the unit speci…c effects with the spatial lag model to develop a spatial autoregressive frontier model for panel data. Features of the modeling include time-varying efficiency and estimation...

It is common in fi…rm level environmental efficiency studies for pollution to form part of the production technology. We omit nitrogen and sulphur emissions from the spatial analysis of production in European countries (1995 - 2008) because we …find they are not signi…cant inputs. Efficiency and TFP growth from the production analysis are then used...

Using a new approach, 'SORM SBM' DEA, this paper analyses the efficiency of Indonesian banks during the period 2003-2007. The results prove highly sensitive to both the choice of modelling methodology used to handle negative numbers (i.e., Silva Portela et al., 2004 or Emrouznejad et al., 2010), and to the choice of risk control variable, namely lo...

The UK government published a weighted score card approach in 2003 to analyse the performance of Probation Boards in England and Wales. However, there has not been a thorough analysis of whether non-parametric methods could provide more advanced options for analysing performance than the standard Weighted Score Card approach – a variant of the Ba...

In this study, we utilize a nonparametric efficiency measurement approach which combines the Semi-Oriented Radial Measure-Data Envelopment Analysis (SORM-DEA) approach for dealing with negative data (Emrouznejad et al., 2010) with the Slacks-Based Efficiency Measures (SBM) of Tone (2001, 2002) to analyse productivity changes for Indonesian banks ov...

This paper develops a Luenberger productivity index that is applied to a technology where desirable and undesirable outputs are jointly produced and are possibly negative. The components of this Luenberger productivity index - the efficiency change and the components of the technological shift - are then decomposed into factors determined by the te...

Among the many impacts of the credit crunch will be the necessity for economists to find a reformulation of models for performance measurement in banks. One of the most important issues to address is how to include risk in the measurement of the performance of banking systems. In this contribution, we review three different approaches to the incorp...

On 11-12 November 2008, SUERF and Banque Centrale du Luxembourg organized a conference on Productivity in the Financial Services Sector on the occasion of the tenth anniversary of the Banque Centrale du Luxembourg. The conference addressed three main themes: first, stylized facts on banks' productivity developments and the measurement of productivi...

This paper performs comparative analysis of the non-radial Russell output technical efficiency measures of 13 Eastern European banking systems assuming a banking production with risk as an undesirable output and where output components can be negative. This is analysed utilizing three modelling specifications; the intermediation, production and pro...

This study investigates the trend of X-(in) efficiencies across Eastern European 200417. European Bank of Reconstruction and Development (EBRD) (2004) Transition report, London View all references-accession countries’ banking industries over the period 1999 to 2003. We use Data Envelopment Analysis (DEA) estimators to obtain proxies for X-(in)effic...

This paper presents a summary of the submission’s evidence for the clinical effectiveness and cost-effectiveness of varenicline for smoking cessation included four studies of varenicline (one of which was commercial-in-confidence) and a meta-analysis of varenicline versus nicotine replacement therapy (NRT), bupropion and placebo. Two controlled tri...

This paper presents a summary of the submission's evidence for the clinical effectiveness and cost-effectiveness of varenicline for smoking cessation included four studies of varenicline (one of which was commercial-in-confidence) and a meta-analysis of varenicline versus nicotine replacement therapy (NRT), bupropion and placebo. Two controlled tri...

Within the banking efficiency analysis literature there is a dearth of studies which have considered how banks have 'survived' the Asian financial crisis of the late 1990s. Considering the profound changes that have occurred in the region's financial systems since then, such an analysis is both timely and warranted. This paper examines the evolutio...

In one of the first stand-alone studies covering the whole of the Indonesian banking industry, and utilising a unique dataset provided by the Indonesian central bank, this paper analyses the levels of intermediation-based efficiency obtaining during 2007. Using Tone’s (2001) input-oriented, non-parametric, slacks-based DEA model, and modifying it w...

This paper examines the monthly efficiency and productivity of listed Indonesian banks and their market performance through the prism of two modelling techniques, efficiency and super-efficiency, over the period January 2006 to July 2007. Within this research strategy we employ Tone’s (2001) non-parametric, Slacks-Based Model (SBM) and Tone’s (2002...

In this study we utilise a non-parametric, slacks-based model (SBM) approach to analyse efficiency and productivity changes for Indonesian banks over the period January 2006 to July 2007. Efficiency scores and Malmquist productivity indices are estimated using the approach for efficiency and super-efficiency estimation suggested by Tone (2001, 2002...

This study investigates the evolution of banking efficiency of post-communist new EU member countries over a time span 1998 to 2003. In these transition economies major strides were taken during this period to establish functioning market economies and financial systems for their EU membership in 2004. In light of the EU enlargement, it is signific...

A Doctoral Thesis. Submitted in partial fulfillment of the requirements for the award of Doctor of Philosophy of Loughborough University. This thesis examines banking efficiency and the productivity of thirteen transition Central and Eastern European banking systems during 1998-2003 using Data Envelopment Analysis (DEA). It proposes a non-parametri...

We argue in this paper that the standard intermediation specification in the banking efficiency and productivity analysis literature has difficulty incorporating risk, and we first review the literature to discover alternative specifications of bank objectives in constructing risk based performance measures including the role of equity capital. We...

This is a working paper. It is also available at: http://ideas.repec.org/p/lbo/lbowps/2010_04.html In this study, we utilise a new, non-parametric efficiency measurement approach which combines the semi-oriented radial measure data envelopment analysis (SORM-SBM-DEA) approach for dealing with negative data (Emrouznejad et al., 2010) with the slacks...

This is a working paper. It is also available at: http://ideas.repec.org/p/lbo/lbowps/2009_13.html In this study, we utilise a new, non-parametric efficiency measurement approach which combines the semi-oriented radial measure data envelopment analysis (SORM DEA) approach for dealing with negative data (Emrouznejad et al., 2010) with the slacks-bas...

This is a working paper. It is also available at: http://ideas.repec.org/p/lbo/lbowps/2010_03.html This paper examines the evolution of Hong Kong’s banking industry’s technical efficiency, and its macroeconomic determinants, during the period 2000-2006 through the prism of two alternative approaches to efficiency estimation, namely the intermediati...