Estimation of cost efficiency of Australian universities
نویسندگان
چکیده
The purpose of this paper is to quantify the efficiency with which Australian universities utilise their teaching resources. The study estimates the cost efficiency of 36 universities over the period 1995-2002 using stochastic frontier analysis. The present study differs from previous cost and efficiency studies of Australian universities in two respects. First, it employs stochastic frontier analysis for the specification of a cost function for Australian universities which allows for the estimation of cost efficiency for each university under study. Second, a panel data set is utilised in the estimation of the cost function which enables not only comparisons of cost efficiency between universities but also an econometric testing of the assumption of an identical cost function for every university. The main finding is that universities are not operating efficiently as measured by cost efficiency and in relative terms. An efficiency ranking is derived and policy inferences are discussed. JEL Classification: C23; I20
منابع مشابه
Estimation of Cost Efficiency in Australian Universities
Various studies have been carried out on estimation of cost functions for Australian universities, for example, Throsby (1986) and Heaton and Throsby (1997, 1998), and Lloyd et al (1993). While estimating a cost function with different purposes, all of the studies have estimated an aggregate cost function in the sense that the sampled institutions were assumed to have the same cost function. Th...
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ورودعنوان ژورنال:
- Mathematics and Computers in Simulation
دوره 78 شماره
صفحات -
تاریخ انتشار 2008