Please use this identifier to cite or link to this item:
https://hdl.handle.net/20.500.14279/12010
Title: | A parametric decomposition of hotel-sector productivity growth |
Authors: | Chatzimichael, Konstantinos Liasidou, Sotiroula |
Major Field of Science: | Social Sciences |
Field Category: | Economics and Business |
Keywords: | Europe;Hotel-sector;Stochastic Frontier analysis;Technical efficiency;Total factor productivity growth;D24;D22;C33;M11 |
Issue Date: | Jan-2019 |
Source: | International Journal of Hospitality Management, 2019, vol. 76, pp. 206-215 |
Volume: | 76 |
Start page: | 206 |
End page: | 215 |
Journal: | International Journal of Hospitality Management |
Abstract: | In this paper, we decompose hotel-sector total factor productivity growth into components attributable to changes in technical efficiency, scale effect, and technical change. The hotel-sector production Frontier is approximated parametrically using a primal approach requiring no data on output and input prices while permitting the conduction of statistical tests for the various features of the hotel-sector technology. Our empirical model relies on a flexible translog production function which allows to distinguish between Hicks-neutral and factor-biased technological progress. Using this framework, we estimate hotel-sector productivity growth and its components in a sample of 25 European countries from 2008 to 2015. Based on the empirical results, a cross-country comparison is performed and the sources of hotel-sector productivity are discussed. Finally, the implications of the study for hotel operators and policy makers are presented and a set of recommendations is developed for improving hotel sector productivity growth. |
ISSN: | 02784319 |
DOI: | 10.1016/j.ijhm.2018.05.010 |
Rights: | © Elsevier |
Type: | Article |
Affiliation : | Cyprus University of Technology |
Publication Type: | Peer Reviewed |
Appears in Collections: | Άρθρα/Articles |
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