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July  2011, 7(3): 573-592. doi: 10.3934/jimo.2011.7.573

## A three-stage DEA-SFA efficiency analysis of labour-owned and mercantile firms

 1 Escuela de Administración y Contaduría Pública, Facultad de Ciencias Económicas, Universidad Nacional de Colombia, Carrera 30 No 45-03, Ediﬁcio 311 Oﬁcina 305, Bogotá, Colombia 2 Emeritus Professor, University of New Brunswick, Canada 3 Departamento de Gestión de Empresas, Universidad Pública de Navarra, Campus de Arrosadía, 31006 Pamplona, Navarra, Spain

Received  November 2008 Revised  May 2011 Published  June 2011

This paper undertakes a three-stage DEA-SFA (Data Envelopment Analysis / Stochastic Frontier Analysis) efficiency analysis of labour-owned (LOF) and mercantile (PCF) firms to assess whether variations in the productive efficiency and in the total factor productivity of LOFs and PCFs are explainable by differences in their capital-ownership configuration. The model first purges, from each firm's performance, the impact of statistical noise and of environmental factors and yields increasing average efficiency estimates of the firms under study. Then, it tests the hypothesis that the average firm, be it LOF or PCF, is equally efficient and exhibits comparable levels of productivity growth. The evidence presented supports the proposition that differences in the capital-ownership configuration do not play a very significant role in their performance efficiency or in their productivity growth and whatever productivity growth occurs is attributable largely to innovation rather than to catching up to the efficient firms.
Citation: Zuray Melgarejo, Francisco J. Arcelus, Katrin Simon-Elorz. A three-stage DEA-SFA efficiency analysis of labour-owned and mercantile firms. Journal of Industrial & Management Optimization, 2011, 7 (3) : 573-592. doi: 10.3934/jimo.2011.7.573
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