nep-cse New Economics Papers
on Economics of Strategic Management
Issue of 2015‒10‒10
23 papers chosen by
João José de Matos Ferreira
Universidade da Beira Interior

  1. From demand-pull and technology-push innovations, towards knowledge-based innovation systems. Evidence from Albanian small and medium enterprises. By Erind Hoti; Gentian Hoxhalli
  2. Designinig collaborative processes among SMEs. An overview of inhibiting and motivational factors By Erind Hoti; Gentian Hoxhalli
  3. Innovation Investments and Energy Efficiency in Iranian Industries By Mahmood Mahmoodzadeh; Somaye Sadeghi; Soraya Sadeghi; Saleh Ghavidel
  4. Measuring the impact of competitiveness (GCI-global competitiveness index) on trade flows of Albania By Dorina Çumani
  5. Regional innovation system (in)efficiency and its determinants: an empirical evidence from Italian regions By Barra, Cristian; Zotti, Roberto
  6. Logistics and transport in Colombia: factors affecting the export performance By Diana Marcela Escandon Barbosa
  7. Network Business Environment for Open Innovation in SMEs By Ţoniş BuceaManea, Rocsana; Catană, Mădălin Gabriel; Tonoiu, Sergiu
  8. Regional Innovation Systems: Past - Presence - Future By Asheim, Björn; Grillitsch, Markus; Trippl , Michaela
  9. Past, present and ¿future? Of the institutional theory in organizational analysis: a literature review By Viviana A Gutierrez Rincon; Jairo A Salas Paramo
  10. Environmental investment and firm performance: A network approach By Bostian, Moriah; Färe, Rolf; Grosskopf, Shawna; Lundgren, Tommy
  11. A learning-capacity framework: knowledge reconfiguration and knowledge orientation By Julian Pineres Ramirez
  12. Lifting the Iron Curtain: School-Age Education and Entrepreneurial Intentions By Falck, Oliver; Gold, Robert; Heblich, Stephan
  13. Long-Term Direct and Spillover Effects of Job Training: Experimental Evidence from Colombia By Herrera Prada, Luis Omar; Kugler, Adriana D.; Kugler, Maurice; Saavedra, Juan Esteban
  14. An Applicable program for Documentation of the Expert’s Experiences in our organization By seyed Ali salehi Ghalehsafid; sahar ghajavand
  15. Pay-What-You-Want in Competition By Samahita, Margaret
  16. On measuring the contribution from firm turnover to aggregate productivity growth. Selection on profitability and not productivity By Thomas von Brasch
  17. The Intellectual Property Right and Firm Survival in Different Growth Stages By S0-Jin Lim
  19. The impact of the financial crisis on investments in innovative firms By Giebel, Marek; Kraft, Kornelius
  20. The performance of large versus specialized firms: A study of firms importing apples into Norway By Straume, Hans-Martin; Vårdal, Erling
  21. Social Networks and Maternal Health Care Utilisation in Tanzania By Alfred K. Mukong and Justine Burns
  22. Elearning Creativity evaluation methods in organizations By FARIBA FATTAHZADEH
  23. Explaining (in)efficiency in higher education: a comparison of parametric and non-parametric analyses to rank universities By Barra, Cristian; Lagravinese, Raffaele; Zotti, Roberto

  1. By: Erind Hoti (European University of Tirana); Gentian Hoxhalli (European University of Tirana)
    Abstract: This paper focuses at small and medium enterprises (SMEs) which are facing growing competition. Technological innovation and the increasing role of knowledge exploitation in the enterprise, provide an important source of innovation and competitive advantage. Technological innovation is being perceived to a greater extent as a continuous, collaborative, multi-actor process requiring new collaboration-supporting technologies and focusing on knowledge and social dynamics perspectives. This paper tries to determine if any relationships do exist between measures for adapting technological innovation in SMEs and whether these are caused by a technology-push or demand-pull. It also aims at verifying if activities related to knowledge management in the enterprise lead to planned or incidental innovations. In doing so we get insights on how different activities could affect technological innovation and it contributes to the small business management literature by adding to the body of knowledge on technological innovation adaption and utilization in SMEs. The empirical investigation is carried out in an emerging market nation such as Albania
    Keywords: SMEs, technology innovation, knowledge management, emerging market economy
    JEL: O30 M20 O32
  2. By: Erind Hoti (European University of Tirana); Gentian Hoxhalli (European University of Tirana)
    Abstract: This paper scrutinizes the ground rules for designing collaborative processes by focusing on inter-organizational collaboration and considering collaboration as a process for improving the competitiveness of small and medium sized firms (SMEs). In a need to be more competitive and facing an ever more knowledge-based environment, SMEs must collaborate in order to stay competitive and easily adjust to new situations. Collaboration in itself is perceived as a dynamic process taking place among various actors who come together to jointly achieve a beneficial outcome. This paper provides an overview of the evidence on common motives and inhibiting factors for collaboration among SMEs based on a review of the evidence.
    Keywords: Small and Medium Enterprises (SME), inter-organizational collaboration, collaborative processes, cooperation
    JEL: A10 L21 L29
  3. By: Mahmood Mahmoodzadeh (Department of Economics, Firoozkooh Branch, Islamic Azad University); Somaye Sadeghi (Department of Economics, Firoozkooh Branch, Islamic Azad University); Soraya Sadeghi (MA in Economics); Saleh Ghavidel (Department of Economics, Firoozkooh Branch, Islamic Azad University,Firoozkooh)
    Abstract: This paper investigates the effects of innovation investments in Iranian industries including R&D expenditures (disaggregated as domestic and foreign) and ICT investments on energy intensity in three clusters of Iranian industries including small, medium and large size industries. We used the GMM panel method to estimate during 2000-2009 periods. The results show that in all clusters, domestic R&D expenditures have not significant effect on energy intensity, while foreign R&D expenditures induces to decrease considerably energy intensity. Also, ICT investments cause to increase energy intensity. Moreover, as expected, the spillovers from these innovations, especially R&D spillover cause to decrease energy intensity. Overall, in Iranian firms, innovation investments, in particular foreign R&D expenditures play a substantial role to improve energy efficiency.
    Keywords: Energy Intensity, ICT Investments, Domestic R&D, Foreign R&D, Spillovers
  4. By: Dorina Çumani (European University of Tirana)
    Abstract: Literature and the latest studies have enlarged their focus in the aspect of the factors that affect the economical competitiveness of a state. They have shown that the competitiveness among states doesn’t depend only in the basic factors of production, but also on other social factors; public institutions such as: infrastructure; health; efficiency factors such as: efficiency in the market of goods, commercial flow or the labor market; Higher education or specialized training; innovation, etc. The main purpose of this research paper is to analyze the bilateral trade flows among Albania and 35 other countries regarding the import-export statistics and also based in the “ Gravity Model”. The classical part of ‘Gravity Model” is to study the impact of the size of the economy, local and foreign, distance between particular places, etc. Another strong point of this research paper is the study of the influence of competitiveness (GCI-Global Competitiveness Index) in the commercial flows of Albania. In this research we will be able to give an answer to the question: “What is the information that the global competitiveness index gives to us regarding the performance of Albania in the foreign trade environment”. The data that was included in the study belong to the period from 2005-2012, in the form of annual time series. For the selection of the variables in the model, i relied on the traditional theory, where the exports are affected from the country’s size, distance, exchange rates and the last year’s theories for the evaluation of competitiveness factors in the variable’s complexity that constitute on the GCI index. Other questions that arise are: Why all these elements mentioned above are important to increase competitiveness? What are the factors that affect competitiveness? How much do they affect on Albanians trade flows?
    Keywords: GCI-global competitiveness index, exports, imports, the ‘Gravity Model’, trade.
  5. By: Barra, Cristian; Zotti, Roberto
    Abstract: This paper investigates the regional innovation system (RIS) efficiency, and its determinants, in Italy through a Stochastic Frontier Analysis and using the concept of a knowledge production function. The contribution of universities’, private and public sectors’ resources devoted to research and development (R&D), in generating innovation, has been examined, as well as the impact of several exogenous environmental variables on RIS efficiency. The empirical findings suggest the importance of R&D investments taking place in the universities and in the private sector, which benefit the most to regional innovation activities; labour market and industries’ characteristics are found to have an important role on RIS efficiency.
    Keywords: Regional innovation system, Technical efficiency. Knowledge production function
    JEL: C14 C67 O31
    Date: 2015–10–01
  6. By: Diana Marcela Escandon Barbosa (Faculty of Economics and Management, Pontificia Universidad Javeriana Cali)
    Abstract: The election of a country destination to export is one of the problems with greater interest within the field of internationalization of companies. Companies seek to minimize labor costs, transport, tariff and other issues affecting their choice. However, transportation costs and logistics becomes in a key aspect in the enterprise competitiveness for access to international markets. Therefore, from the application of a survey of 319 exporting companies in Colombia a model of neural networks is performed to measure as factors affecting export performance variables such as efficiency in the process of customs clearance and other border agencies, ease and affordability of international shipping, transport infrastructure and technologies adequate, level of competence of the local logistics industry, ability to track and trace consignments and timely deliveries destination. Among the main findings is that the level of competence of the local logistics industry manages to be the most important variable for export performance in Colombian companies because they can improve pricing systems and the existence of lower export costs.
    Keywords: International transport, Export Performance, Logistics
    JEL: F14 M16
    Date: 2015–09
  7. By: Ţoniş BuceaManea, Rocsana; Catană, Mădălin Gabriel; Tonoiu, Sergiu
    Abstract: The SMEs represent an important factor of growth in both developed and developing countries, into which, however, they face different obstacles in the process of innovation. This paper analyses how open communication and collaboration can help SMEs in their struggle for sustainable innovation and profitable market competition. Based on a literature review, a number of obstacles that SMEs have to overcome in their current activity and possible support to be competitive are revealed. The main benefits and particularities of implementing open innovation in SMEs are presented. The necessity of a supportive business environment for SMEs is demonstrated. An outline of an improved model for SMEs is presented. Introduction
    Keywords: open innovation, small and medium-sized enterprises (SMEs), network business environment, technological infrastructure, legal framework, model of innovation for SMEs.
    JEL: M15
    Date: 2014
  8. By: Asheim, Björn (CIRCLE, Lund University; UiS Business School/Centre for Innovation Research, University of Stavanger; BI Norwegian Business School, Oslo); Grillitsch, Markus (CIRCLE, Lund University); Trippl , Michaela (CIRCLE, Lund University)
    Abstract: Since its development in the 1990s, the Regional Innovation Systems (RIS) approach has attracted considerable attention from economic geographers, innovation scholars and policy makers. The RIS approach figures prominently in the scientific discourse about the uneven geography of innovation and the factors that shape the knowledge generation and innovation capacities of regions. The aim of this paper is to reflect about the emergence of the RIS approach, the current debate as well as future challenges. This reflection paper is guided by four overarching research questions: What are the origins and theoretical foundations of this approach? What has the RIS approach contributed to innovation studies and economic geography? What are the implications for innovation policy? And what are the recent lines of research and key research challenges in the future? We argue that the contributions of the RIS approach have been substantial. Still the approach has often been applied in a rather static way, more as a heuristic than a coherent theory. The key challenges for current and future research therefore are to move towards a more theory-based, dynamic perspective on RIS, dealing with new path development and the transformation of RIS.
    Keywords: regional innovation system; regional innovation policy; regional industrial change; transformation of innovation systems; research challenges
    JEL: O30 O38 P48 R10 R58
    Date: 2015–10–02
  9. By: Viviana A Gutierrez Rincon; Jairo A Salas Paramo (Faculty of Economics and Management, Pontificia Universidad Javeriana Cali)
    Abstract: This paper is a review of the Institutional Theory, starting from a comparison and contrast of the work of its principal authors, with the purpose to show the evolution of institutional perspectives used in organizational analysis. To this end, was performed a review of the most representative papers of Institutional Theory or "Old" institutionalism, the "New" or Neoinstitutionalism and a systematization of the citations to these articles. In addition to identifying the approaches of the new institutional perspectives (change, work, entrepreneurship and institutional logics) and their representative authors.
    Keywords: institutional theory, institutional change, institutional work, institutional entrepreneurship, institutional logics
    JEL: M10
    Date: 2015–09
  10. By: Bostian, Moriah (Lewis & Clark College); Färe, Rolf (Oregon State University); Grosskopf, Shawna (Oregon State University and CERE); Lundgren, Tommy (CERE)
    Abstract: This study examines the role of investment in environmental production practices for both environmental performance and energy efficiency over time. We employ a network DEA approach that links successive production technologies through intertemporal investment decisions with a period by period estimation. This allows us to estimate energy efficiency and environmental performance separately, as well as productivity change and its associated decompositions into efficiency change and technology change. Incorporating a network model also allows us to account for both short-term environmental management practices and long-term environmental investments in each of our productivity measures. We apply this framework to a panel of detailed plant-level production data for Swedish manufacturing firms covering the years 2002 - 2008.
    Keywords: Energy Efficiency; Environmental Performance; Network DEA; Malmquist Index; Investment
    JEL: D22 D24 M14
    Date: 2015–09–19
  11. By: Julian Pineres Ramirez (Faculty of Economics and Management, Pontificia Universidad Javeriana Cali)
    Abstract: This paper proposes a framework for understanding the process of learning capacity building at firm level. Drawing upon the literature on organizational learning, knowledge management, absorptive capacity and dynamic capability, the framework offers a window that enables observation of how organizations integrate and diffuse knowledge into their routines. Moreover, building from an evolutionary perspective it traces the relationship between the learning and the technological trajectories along the firm’s life cycle.The framework assumes that learning occurs through actions, which involve not only the cognition of individuals but also collective meaning, with the intention to change behaviours – and therefore routines – through a process of ‘sensemaking’. These intentions represented through events are defined here as ‘learning schemes’. Defining the learning schemes (through learning events) as the units within which knowledge integration and learning can be observed brings about a discussion which refers to the organization as a social structure of shared perspectives in which actions are a response to the organizational context but are based on individual interpretation, and it is the individuals who finally search for new interpretative systems.
    Keywords: knowledge integration, learning, capacity building and capabilities
    JEL: M1 L2
    Date: 2015–04
  12. By: Falck, Oliver (Ifo Institute for Economic Research); Gold, Robert (Kiel Institute for the World Economy); Heblich, Stephan (University of Bristol)
    Abstract: We exploit Germany's reunification to identify how school-age education affects entrepreneurial intentions. We look at university students in reunified Germany who were born before the Iron Curtain fell. During school age, all students in the West German control group received formal and informal education in a free-market economy, while East German students did or did not receive free-market education. Difference-in-differences estimations show that school-age education in a free-market economy increases entrepreneurial intentions. An event study supports the common-trends assumption. Results remain robust in matched samples and when we exploit within-student variation in occupational intentions to control for unobserved individual characteristics.
    Keywords: entrepreneurship, socialism, formal education, informal education
    JEL: L26 I21 J24 P30
    Date: 2015–09
  13. By: Herrera Prada, Luis Omar; Kugler, Adriana D.; Kugler, Maurice; Saavedra, Juan Esteban
    Abstract: We use administrative data to examine medium and long-term formal education and labor market impacts among participants and family members of a randomized vocational training program for disadvantaged youth in Colombia. In the Colombian program, vocational training and formal education are complementary investments: relative to non-participants, randomly selected participants are more likely to complete secondary school and to attend and persist in tertiary education eight years after random assignment. Complementarity is strongest among applicants with high baseline educational attainment. Training also has educational spillover effects on participants’ family members, who are more likely to enroll in tertiary education. Between three and eight years after randomization, participants are more likely to enter and remain in formal employment, and have formal sector earnings that are at least 11 percent higher than those of non-participants.
    Keywords: education complementarities; formal employment; long-term effects; randomized experiments; spillover effects; vocational training; youth employment
    JEL: C9 I2 J24 J68 O2
    Date: 2015–10
  14. By: seyed Ali salehi Ghalehsafid (bazargani salehi); sahar ghajavand (tanabe naghshe jahan sepahan)
    Abstract: These days one of the main concerns of organizations is the issue of high experienced managers and experts who are transfering from their company imposes a big loss on organization. while effective performance of an organization in a competitive situation depends highly on awareness of past mistakes and learning from them .Documenting intangible experience of the expert paves the way for organizational learning and consequently better performance of organization. In order to acquisition, documentation and codification, transfer, share and use of the organizational experience, we need to have a suitable and practical model with high validity. This article offers a practical framework to gain and document knowledge from experience of the experts in the organizations. This model has experimentally been used by institute for international energy studies (IIES) for acquisition and documenting experience of 45 experts and managers of Islamic Republic of Iran’s petroleum industry and necessary modifications of the model have been done based on obtained results. this model includes five main stages: 1 - recognition, 2 –training, 3 - knowledge acquisition, 4–knowledge editing, 5 – knowledge management data base designing and knowledge electronic packaging.
    Keywords: Knowledge, experience, knowledge acquisition, knowledge management, documentation, petroleum industry, I.R.Iran.
  15. By: Samahita, Margaret (Department of Economics, Lund University)
    Abstract: Pay-What-You-Want (PWYW) pricing schemes are popular in certain industries and not others. We model the seller's choice of pricing scheme under various market structures assuming consumers share their surplus. We show that the profitability and popularity of PWYW depend not only on consumers' preferences, but also on market structure, product characteristics and sellers' strategies. While there is no equilibrium where PWYW dominates the market, given a sufficiently high level of surplus-sharing and product differentiation, it is chosen by the second mover to avoid Bertrand competition. The equilibrium results and their associated market characteristics are consistent with empirical examples of PWYW.
    Keywords: Pay-what-you-want; competition; product differentiation; market behavior; market structure
    JEL: D11 D42 D43 L11 L12 L13
    Date: 2015–09–15
  16. By: Thomas von Brasch (Statistics Norway)
    Abstract: Foster et al. (2001) outline a framework that is commonly used to identify the contribution from firm turnover to aggregate productivity growth. The framework is not derived from economic theory and it implies that productivity levels determine the contribution from reallocation and firm turnover. In this paper, I outline an index for aggregate productivity growth based on economic theory. In contrast to common beliefs, I show that the contribution from firm turnover to aggregate productivity growth should be based on the profitability, and not the productivity, of these firms.
    Keywords: Productivity; Profitability; Aggregation
    JEL: D24 J24 L25 O47 C43
    Date: 2015–10
  17. By: S0-Jin Lim (Korea Institute of Intellectual Property)
    Abstract: As the ratio of intangible assets in firm’s market value is increasing, the business strategy on knowledge assets including intellectual property rights is becoming the key factor determining firm’s performance and survival. This study empirically examines the impacts of IPR on the firm survival using 619,314 firm-year observations of South Korean manufacturing firms in 2000-2012, based on the assumption that those effects depend on the types, quantity, attributes of IPR and the growth stage and industries of a firm. We find that one unit increase of patent stock, design and trademark in firms could reduce the hazard ratio by 0.9%, 10.3% and 13.6% respectively. As to the attributes of patents, one unit increase of the numbers of claims, IPC classification and the ratio of joint applied patent could reduce the hazard ratio by 0.4%, 2.1%, and 5.3% respectively. And, in regard to the discriminative effects of those variables according to the growth stage of a business, the positive effect of the quantity of patent stock is decreasing and that of patent’s quality is increasing as a firm grows.
    Keywords: Intellectual Property Right, Firm Survival, Cox proportional hazard model, growth stage
  18. By: Toshiro Wakayama (International University of Japan); Karen LaPierre (Takasaki City University of Economics)
    Abstract: Prior research in dynamic capabilities has seldom addressed the question of how they operate over time in the presence of conflicting objectives of a strategic paradox, particularly beyond the exploration-exploitation contention. In the context of aggregation-adaptation paradox, we have collected and analyzed a large number of specific activities and changes in the resource base through an in-depth case study based on 46 interviews and other data sources. Our findings reveal new conceptual insights on the process side of dynamic capabilities: coevolutionary interplay between pro-aggregation and pro-adaptation changes in the resource base, paradox-enacting dynamic capabilities at the level of discrete activities with differing blends of aggregation and adaptation, and organizational constructs for paradox-enacting dynamic capabilities which are in stark contrast to known forms of organizational ambidexterity.
    Date: 2015–05
  19. By: Giebel, Marek; Kraft, Kornelius
    Abstract: This paper investigates the impact of the financial crisis on investment decisions in innovative versus non-innovative firms. Firms are defined as being innovative if they have introduced a new product to the market. The empirical test is based on data for the years before and after the recent financial crisis. Probit estimations show that innovative firms are more likely to suffer from the financial crisis and to reduce their investment expenditures in general. To some extent these reductions are due to problems in the acquisition of external capital. Using difference-in-differences methods, it turns out that innovative firms realize the same reduction in growth rates in turnover, but a stronger reduction in investment growth than non-innovative firms.
    Keywords: financial crisis,innovation,investment,credit constraints,difference-in-differences
    JEL: G01 G30 O16 O30
    Date: 2015
  20. By: Straume, Hans-Martin (Department of Economics, University of Bergen, and Department of Economics, BI Norwegian Business School); Vårdal, Erling (Department of Economics, University of Bergen)
    Abstract: We use highly disaggregated Norwegian custom data of importing firms to investigate differences in obtained import prices in the period 2003-2009. In addition to the importing firm we are also able to identify the foreign exporter. The obtained import prices are related to firm characteristics as size of the firm, degree of specialization and also the chosen invoicing currency. Our focus is on one single product; fresh apples. We find a surprisingly high variation in import prices. It turns out that the firm specific variables, largeness and specialization, result in significantly lower import prices. In addition, if apples are priced in the currency of the exporter, he must accept a 13-18 per cent drop in the price he obtains. This effect proves to be highly significant.
    Keywords: import prices; firm specific factors; transaction data; tariff regimes
    JEL: F15 Q17
    Date: 2015–10–03
  21. By: Alfred K. Mukong and Justine Burns
    Abstract: Social networks are increasingly being recognised as having an important influence on the health market outcomes, as they facilitate the exchange of information on health care related issues. Networks reduce search costs by providing information to peers about the appropriate health care providers and details about the functioning of the health care system. In this paper, we examine the impact of information externalities generated through network membership on maternal health care utilisation in Tanzania. We further propose new approaches for quantifying the size of one's network. We adopt an econometric approach that minimises the problems of omitted variable bias. Using the Demographic and Health Survey data for Tanzania, a country characterised by low levels of maternal health care utilisation we find that social networks may enhance antenatal completion and early antenatal check-up probabilities by an additional 6-35 percent and sometimes up to 59 percent. The results suggest that failure to adequately control for omitted variables would lead to substantial under-estimation of the network eect. Finally, we show that irrespective of the measure of the size of the networks, high qualitynetworks have better outcomes than low quality networks.
    Keywords: Maternal Healthcare, Social Networks, Tanzania
    JEL: I11 Z13
    Date: 2015
  22. By: FARIBA FATTAHZADEH (Department of Mathematics, Central Tehran Branch, Islamic Azad University, Tehran Iran)
    Abstract: Today, the amount of information that education should produce,review, archive, processing and sharing is large. So how to manage thisinformation and evaluate this type of information to learn a subject isimportant. Combination of education, networking and web lead to newways of organizing education system has been web-based learningManagement System has. This method is able to surround any time andany place easily materials based on predefined options, access orparticipate in virtual classroom, so training organizations and commercialorganizations, are using e-learning their students and employees. ManyE-learning organizations use variety of indicators to assess the course andmeasures. Provide a model or method of assessment to be able to displayonline can be very useful, indicators of educational organizations isemphasized creativity in this research is to be paid. Business intelligencetools and dashboards to display performance indicators are used. Inaddition to this research study used indicators of organizationalperformance assessment, and provide a comprehensive model ofbalanced score card for virtual learning, the tools available as standard invirtual courses offered are studied and compared, and also placed aSample training evaluation using existing tools as organizationaldashboard is provided.
    Keywords: Keywords:, E-learning, LearningManagement System, Key Performance Indicator, Creativity.
  23. By: Barra, Cristian; Lagravinese, Raffaele; Zotti, Roberto
    Abstract: In recent years more and more numerous are the rankings published in the newspapers or technical reports available, covering many aspects of higher education, but in many cases with very conflicting results between them, due to the fact that universities’ performances depend on the set of variables considered and on the methods of analysis employed. The aim of this study is to rank higher education institutions (HEIs) in Italy, comparing parametric and non-parametric approaches: we firstly apply a so-called double bootstrap Data Envelopment Analysis (DEA) to generate unbiased coefficients (Simar and Wilson, 2007) and then a Stochastic Frontier Analysis (SFA), modelling the production set through an output distance function, applying a within transformation to data as developed by Wang and Ho (2010), to evaluate which determinants have an impact on universities’ efficiencies. The findings reveal that, on average and among the macro-areas of the country, the level of efficiency does not change significantly among estimation methods which, instead, generate different rankings. This may guide universities’ managers and policymakers as rankings have a strong impact on academic decision-making and behaviour, on the structure of the institutions and also on students and graduates recruiters. Variables describing institution, market place and environment have an important role in explaining (in)efficiency.
    Keywords: Universities; Efficiency; Data Envelopment Analysis; Stochastic Frontier Analysis
    JEL: C14 C67 I21 I23
    Date: 2015–10–06

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