Person: Arocena Garro, Pablo
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Arocena Garro
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Pablo
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GestiĆ³n de Empresas
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INARBE. Institute for Advanced Research in Business and Economics
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0000-0002-4035-4597
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365
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Publication Embargo Measuring and decomposing productivity change in the presence of mergers(Elsevier, 2020) Arocena Garro, Pablo; Saal, David S.; Urakami, Takuya; Zschille, Michael; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE; GestiĆ³n de EmpresasManagers and policymakers often encourage mergers and acquisitions of companies with the aim of increasing the productivity of the involved firms. However, problems with the measurement of productivity change usually occur when analyzing companies that merged during the period under consideration: while only individual predecessor firms exist in the base period, in the following period only the integrated company is observable. We therefore propose a new adaptation of the Malmquist index that is appropriate in the presence of mergers, which also allows for a detailed analysis of their effects on productivity change. Moreover, we believe that our methodological approach provides a useful widely applicable tool to identify the contribution of past mergers to productivity growth. We illustrate our merger consistent productivity decomposition, by using a sample of Japanese water supply systems observed in 2003, and the resulting consolidated and non-consolidated systems observed in 2009. On average, we find that mergers contributed positively to productivity change and that our merger consistent decomposition contributes to a better understanding of the determinants of productivity performance in the Japanese water sector.Publication Open Access Estimating economies of scale and scope with flexible technology(Springer, 2016) Triebs, Thomas P.; Saal, David S.; Arocena Garro, Pablo; Kumbhakar, Subal C.; GestiĆ³n de Empresas; Enpresen KudeaketaEconomies of scope are typically modelled and estimated using a cost function that is common to all firms in an industry irrespective of their type, e.g. whether they specialize in a single output or produce multiple outputs. Instead, we estimate a flexible technology model that allows for type-specific technologies and show how it can be estimated using linear parametric forms including the translog. A common technology remains a special case of our model and is testable econometrically. Our sample, of publicly owned US electric utilities, does not support a common technology for integrated and specialized firms. Our empirical results therefore suggest that assuming a common technology might bias estimates of economies of scale and scope. Thus, how we model the production technology clearly influences the policy conclusions we draw from its characteristics.