Centro de Competitividad, Finanzas Corporativas y Políticas Públicas
Permanent URI for this collectionhttp://54.81.141.168/handle/123456789/166746
Este centro promueve el estudio de las finanzas, tanto corporativas como públicas, y analiza la competitividad y los efectos de las políticas públicas en el mercado y las expectativas, con especial incidencia en Perú y Latinoamérica. Tiene por objetivo coadyuvar al desarrollo de conocimientos, información y capacidades en beneficio de la sociedad, sobre temas relacionados con el quehacer del Estado, la inserción del Perú y Latinoamérica dentro del escenario global, los criterios de productividad, competitividad y efectividad organizacional en los proyectos de inversión (tanto públicos como privados), el impacto de las políticas públicas (fiscales y monetarias) en el mercado, los indicadores de buen gobierno (gobernabilidad y gobernanza), , las expectativas empresariales y del consumidor, y demás temas afines.
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Item Open Access Regulatory Design and Technical Efficiency: Public Transport in France(CENTRUM Publishing, 2015) Díaz, Guillermo; Vincent, CharlesPublic transport systems are often subject to a close regulatory oversight because of their economic and social impacts. In the case of France, this has led to an institutional design that has involved the participation of private firms in the service provision, and the use of incentive contracts to regulate them, among other characteristics. We study the effect of these institutional features on the efficiency of the firms in the sector. For this, we use nonparametric Data Envelopment Analysis (DEA) techniques to estimate the input usage efficiency, and explore a few potential institutional and regulatory determinants. We apply a conditional DEA approach and fixed effects second stage regressions to control for potentially observed and unobserved sources of heterogeneity across different environments in which the firms operate. Our results point to a differential effect of private and mixed public-private companies. In particular, having the performance of public operators as the benchmark, efficiency is relatively higher for private firms, but lower when the service is delegated to a mixed public-private firm. Furthermore, the effects seem to diverge greatly by contract type when the firm is mixed so that, when the contract is of the cost reimbursement type, performance is lower than the public firm benchmark, while for other contract types there are no statistically significant differences.Item Open Access Adapting Fuzzy Linguistic SERVQUAL Model: A comparative analysis of bank services in Malaysia(CENTRUM Publishing, 2012) Vincent, Charles; Kumar, Mukesh; Suggu, SrinivasFuzzy logic provides a useful tool for dealing with decisions in which the phenomena are imprecise and vague. The application of non-parametric statistical analysis in the SERVQUAL model could be more meaningful in the presence of skewed distribution of customers’ scores. The current paper aims to construct a fuzzy SERVQUAL method for evaluating the service quality of banks in Malaysia for different market segments, namely conventional, Islamic and foreign banks. Further, a comparison of service quality gaps has been assessed with respect to demographic characteristics of the customers to answer a fundamental question “What do customers want from banking services and which elements of service quality is important for different customers?” The sample is made up of 766 bank customers, consisting of the customers from conventional, Islamic and foreign banks from different parts of Malaysia. The data have been collected by using the structured questionnaire, which consists of three sections. Section 1 deals with consumers’ usage of banking channels and their banking behavior. Section 2 contains 26 statements related to service quality dimensions based on past literature. Finally, Section 3 contains the questions related to the socio-demographic profiles of respondents. First, the effectiveness of the Fuzzy linguistic scale and the Likert scale was compared by using the test of internal consistencies on dimensions of service quality. Further, the assumptions of analysis of variance (ANOVA) were checked for appropriateness of statistical analysis to be performed for the comparative analysis. Finally, the SERVQUAL gaps are analyzed and compared across 3 market segments and different groups of customers based on demographic characteristics by using non-parametric approach.Item Open Access A Non-radial DEA index for Peruvian regional competitiveness(CENTRUM Publishing, 2016) Vincent, Charles; Díaz, GuillermoIn this paper, we propose a method to measure competitiveness performance at the subnational level, with an application to Peruvian regions. For this, we propose a benefit-of-the-doubt composite index that summarizes the information of several indicators that characterize competitiveness. It is based on an optimization approach, using Data Enveloping Analysis (DEA) techniques, so that each indicator is weighted in an endogenous way, and each unit is evaluated in the most favourable light. Our proposed index is a non-radial variant of the typical DEA scores, which avoids the traditional pitfalls of DEA-based composite indexes, such as unreasonable weights. Additionally, we propose a meta-frontier approach in order to compare the competitiveness performances across different periods of evaluation. Our assessments of the Peruvian regions' competitiveness performance improve on the results of traditional DEA methods, which award high marks to regions with very heterogeneous performance (i.e., regions with very high scores in some indicators, and very poor in others). Additionally, the comparison of the performance across time shows a general decrease in the average competitiveness between 2008 to 2014 in the Peruvian regions.Item Open Access Evaluating the Performance of Indian Banking Sector using Data Envelopment Analysis during Post-Reform and Global Financial Crisis(CENTRUM Publishing, 2012) Kumar, Mukesh; Vincent, CharlesEnticed by the reform of Indian banking sector in the early 1990s and further slowdown in the economy as a result of global financial crisis in late 2000s, the current study analyzes the performance of Indian banks using data envelopment analysis. The performance is measured in terms of technical efficiency, returns-to-scale, and Malmquist productivity index for a sample of 33 banks, consisting of 19 public sector and 14 private sector banks during the period spanning 1995-96 to 2009-10. The jackknifing analysis, followed by the dummy variable regression model is used to identify the outlier and its possible impact on overall efficiency trends. Findings reveal that efficiency scores are robust in the sense that the inclusion of outlier does not affect the overall efficiency trends. The public sector bank is faintly doing better than the private sector banks in terms of (i) technical efficiency since 2003-04 and (ii) scale efficiency from 2000-01 onwards. There is growing tendency of public banks operating under increasing returns to scale, implying that substantial gains could be obtained from altering scale via either internal growth or consolidation in the sector. The difference in the Total Factor Productivity (TFP) change between these two types of banks is found to be statistically significant in favour of public sector banks. The technological change has been the dominating source of productivity growth, whereas, the contribution of pure efficiency change and scale change are found to be negligible in Indian banking sector during the period of study. The reform in Indian banking sector has clearly re-energized the Indian banking sector as a whole, resulting in a positive change in TFP through technological change possibly as a result of adoption of latest technology and new business practices in post reform period. However, there is evidence of shrink in the market resulting in movement of the banks towards increasing returns-to-scale as well as negative growth in TFP in both the sectors during the period of global financial crisis.