Performance assessment of Portuguese wind farms: Ownership and managerial efficiency

Energy Policy

Volumn 39, Issue 6, 2011, Pages 3055-3063

  Pestana Barros, Carlos ^a   Sequeira Antunes, Olinda ^a  

^a UNIVERSITY OF LISBON   (Portugal)

Author keywords

Portugal; Stochastic frontier models; Wind farms

Indexed keywords

ECONOMIC IMPLICATIONS; PERFORMANCE ASSESSMENT; PORTUGAL; REPRESENTATIVE SAMPLE; STOCHASTIC FRONTIER MODELS; TECHNICAL EFFICIENCY; WIND FARM; WIND FARMS;

ELECTRIC UTILITIES; STOCHASTIC MODELS; WIND POWER;

FARMS;

ALTERNATIVE ENERGY; ENERGY POLICY; MODELING; OWNERSHIP; PERFORMANCE ASSESSMENT; POLICY IMPLEMENTATION; STOCHASTICITY; TECHNICAL EFFICIENCY; WIND FARM;

PORTUGAL;

EID: 79955930579     PISSN: 03014215     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.enpol.2011.01.060     Document Type: Article

References (65)

1. Aitken M. Why we still dont understand the social aspects of wind power: a critique of key assumptions within the literature. Energy Policy 2010, 38(4):1834-1841.
2. Alvarez, A., Arias, C., Greene, W., 2004. Accounting for unobservables in production models: management and Inefficiency, Working Paper, 72, Centro de Estudios Andaluces.
3. Alvarez R., Crespi.G. Determinants of technical efficiency in small firms. Small Business Economics 2003, 20:233-244.
4. Arocena P. Cost and quality gains from diversification and vertical integration in the electricity industry: a DEA approach. Energy Economics 2008, 30:39-58.
5. Avkiran N.K., Rowlands T. How to better identify the true managerial performance: state of art using DEA. Omega 2008, 36:317-324.
6. Barney J. Firm resources and sustained competitive advantage. Journal of Management 1991, 17:99-120.
7. Barros C.P. Efficiency analysis of hydroelectric generating plants: a case study for Portugal. Energy Economics, Elsevier 2008, 30(1). 59-75.
8. Barros C.P., Peypoch N. Technical efficiency of thermoelectric power plants. Energy Economics 2008, 30:3118-3127.
9. Barros C.P., Peypoch N. The determinants of cost efficiency of hydroelectric generating plants: a random frontier approach. Energy Policy 2007, 35:4463-4470.
10. Barros C.P., Assaf A. Bootstrapped efficiency measures of oil blocks in Angola. Energy Policy 2009, 37(10):4098-4103.
11. Barros C.P., Managi S. Regulation, Pollution and Heterogeneity in Japanese steam power generation companies. Energy Policy 2009, 37:3109-3114.
12. Barros, C.P., Antunes, O.S., Productivity change in the oil blocks of Angola. Energy Sources, Part B: Economics, Planning and Policy, forthcoming-a.
13. Barros, C.P., Antunes, O.S., Air pollution and productivity in nuclear electricity plants. Energy Sources, Part A: Recovery, Utilization and Environmental Effects, forthcoming-b.
14. Battese G.E., Coelli T.J. Prediction of firm-level technical efficiencies with a generalised frontier production function and panel data. Journal of Econometrics 1988, 38:387-399.
15. Bergek A. Levelling the playing field? The influence of national wind power planning instruments on conflicts of interests in a Swedish county. Energy Policy 2010, 38(5):2357-2369.
16. Berry D. Innovation and the price of wind energy in the US. Energy Policy 2009, 37(11):4493-4499.
17. Button K.J., Weyman-Jones T.G. Ownership structure, institutional organisation and measured X-inefficiency. American Economic Review 1992, 82:439-445.
18. Caves D.W., Christensen L.R. The relative efficiency of public and private firms in a competitive environment: the case of Canadian railroads. Journal of Political Economy 1980, 88:958-976.
19. Caves D.W., Christensen L.R., Swanson J.A. Productivity growth, scale economies, and capacity utilization in US railroads, 1955-74. American Economic Review 1981, 71:994-1000.
20. Chesher A.D. Testing for neglected heterogeneity. Econometrica 1984, 52:865-872.
21. Chesher A., Santos-Silva J. Taste variation in discrete choice models. Review of Economic Studies 2002, 69:147-168.
22. Cornes R. Duality and Modern Economics 1992, Cambridge University Press, Cambridge.
23. Dawson P., Hubbard L. Management and size economics in the Englands and Wales dairy sector. Journal of Agricultural Economics 1985, 38:27-37.
24. Farsi M., Filippini M. Regulation and measuring cost-efficiency with panel data models: application to electricity distribution utilities. Review of Industrial Organisation 2004, 25:1-19.
25. Ghemawat P., Khanna.T. The nature of diversified business groups: a research design and two case studies. The Journal of Industrial Economics 1998, 1:35-61.
26. Gourieroux C., Monfort A. Simulation Based Methods: Econometric Methods 1996, Oxford University Press, Oxford.
27. Greene W. Econometric Analysis 2003, Prentice Hall, NJ. fifth ed.
28. Greene W. Distinguishing between heterogeneity and efficiency: stochastic frontier analysis of the World Health Organisation's panel on national health care systems. Health Economics 2004, 13:959-980.
29. Greene W. Fixed and random effects in stochastic frontier models. Journal of Productivity Analysis 2005, 23:7-32.
30. Griliches Z. Specification bias in estimates of production functions. Journal of Farm Economics 1957, 39:8-20.
31. Hattori T. Relative performance of US and Japanese electricity distribution: an application of stochastic frontier analysis. Journal of Productivity Analysis 2002, 18:269-284.
32. Iglesias G., Castellanos P., Seijas A. Measurement of productive efficiency with frontier methods: a case study for wind farms. Energy Economics 2010, 32(5):1199-1208.
33. Jensen M.C., Meckling W. Theory of the firm: managerial behavior, agency costs and capital structure. Journal of Financial Economics 1976, 3:305-360.
34. Jondrow J., Lovell C.A.K., Materov I.S., Schmidt P. On the estimation of technical inefficiency in the stochastic frontier production function model. Journal of Econometrics 1982, 19:233-238.
35. Jovanovic B. Selection and the evolution of industry. Econometrica 1982, 50:649-670.
36. Kaparakis E.I., Miller S., Noulas A.G. Short-run cost efficiency of commercial banks: a flexible stochastic frontier approach. Journal of Money, Credit and Banking 1994, 26:875-893.
37. Khanna T., Palepu K. Is group affiliation profitable in emerging markets? An analysis of diversified Indian business groups. Journal of Finance 2000, 55:867-891.
38. Klein Benjamin, Crawford Robert G., Alchian Armen A. Vertical integration, appropriable rents and the competitive contracting process. Journal of Law & Economics 1978, 21:297-326.
39. Kleit A.N., Terrell D. Measuring potential efficiency gains from deregulation of electricity generation: a Bayesian approach. Review of Economics and Statistics 2001, 83(3):523-530.
40. Knittel C.R. Alternative regulatory methods and firm efficiency: stochastic frontier evidence the US electricity industry. The Review of Economics and Statistics 2002, 84(3):530-540.
41. Liu Y., Kokko A. Wind power in China: policy and development challenges. Energy Policy 2010, 38(10):5520-5529.
42. Leibenstein H. Allocative efficiency vs. "X-efficiency". American Economic Review 1966, 56(3):392-415.
43. Mabel M.C., Fernandez E. Growth and future trends of wind energy in ĺndia. Renewable and Sustanable Energy Reviews 2008, 12:1747-1757.
44. Maloney, Michael T., McCormick, Robert E. and Sauer, Robert D., 1996. Customer Choice, Customer Value: An Analysis of Retail Competition in America's Electric Utility Industry. Citizens for a Sound Economy foundation.
45. Managi S., Opaluch J.J., Jin D., Grigalunas T.A. Stochastic frontier analysis of total factor productivity in the offshore oil and gas industry. Ecological Economics 2006, 60:204-215.
46. Martins A.C., Marques R.C., Cruz C.O. Public-private partnerships for wind power generation: the Portuguese case. Energy Policy 2011, 39(1):94-104.
47. Mefford R.N. Introducing management into the production function. The Review of Economics and Statistics 1986, 68:96-104.
48. Mundlak Y. Empirical production functions free on management bias. Journal of Farm Economics 1961, 43:44-56.
49. Nakano M., Managi S. Regulatory reforms and productivity: an empirical analysis of Japanese electricity industry. Energy Policy 2008, 36(1):201-209.
50. Rumelt R. How much does industry matter?. Strategic Management Journal 1991, 12:167-185.
51. Teece D., Pisano G., Shuen A. Dynamic capabilities and strategic management. Strategic Management Journal 1997, 18:509-533.
52. Tol R. EU climate change policy 2013-2020: using the clean development mechanism more effectively in the non-ETS sector. Energy Policy 2010, 38(11):7466-7475.
53. Train K. Discrete Choice Methods With Simulation 2003, Cambridge University Press, Cambridge.
54. Valentine, S.V., Japanese wind energy development policy: Grand plan or group think? Energy Policy, forthcoming.
55. Vaninsky A. Efficiency of electric power generation in the United States: analysis and forecast based on data envelopment analysis. Energy Economics 2006, 28(3):326-328.
56. Varian H.R. Intermediate Microeconomics: A Modern Approach 1987, Norton and Co., New York.
57. Wallsten S., Kosec K. The effects of ownership and benchmark competition: an empirical analysis of US water systems. International Journal of Industrial Organization 2008, 26:186-205.
58. Webber C. Adequate intraday market design to enable the integration of wind energy into the European power system. Energy Policy 2010, 33:3155-3163.
59. Weiss T.M., Ilinca A. Assessing the potential for a wind power incentive for remote villages in Canada. Energy Policy 2010, 38(10):4404-5541.
60. Wernerfelt B. A resource-based view of the firm. Strategic Management Journal 1984, 5:171-180.
61. Williamson O.E. Transaction-cost economics: the governance of contractual relations. Journal of Law and Economics 1979, 22:233-261.
62. Williamson O.E. The Economic Institutions of Capitalism: Firms, Market, Relational Contracting 1985, The Free Press, New York.
63. Wulf J. Authority, risk, and performance incentives: evidence from division manager positions inside firms. The Journal of Industrial Economics 2007, 55:169-196.
64. Zahedi A. Australian renewable energy process. Renewable and Sustainable Energy Reviews 2010, 14:2208-2213.
65. Zhou P., Ang B.W., Poh K.L. A survey of data envelopment analysis in energy and environmental studies. European Journal of Operational Research 2008, 189:1-18.