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|Title:||Measuring Efficiency of International Tourist Hotels in Taiwan: a Stochastic Frontier Approach|
|Keywords:||stochastic frontier approach|
|Issue Date:||2009-09-18 17:22:07 (UTC+8)|
|Abstract:||Based on the survey of Taiwan’s international tourist hotels during 1997 to 2001, this study applies stochastic frontier approach incorporating inefficiency effects to estimate cost inefficiency of international tourist hotels in Taiwan. Two hypotheses of no inefficiency and no inefficiency effects are rejected by using likelihood-ratio test. These outcomes indicate that the model and assumptions set up in this study are statistically more appropriate. The empirical evidence shows that the average cost inefficiency score during 1997 to 2001 is 1.1468 which suggests that actual cost expenditure is approximately 1.1468 times of minimum cost with fixed outputs. In empirical findings between inefficiency effects and cost inefficiencies, the factors such as diversification of services, competitive circumstances, various types of travelers, belonging to a international hotel chain, and located in the scenic area would improve cost efficiencies of international tourist hotels. However, it would worsen cost efficiencies for international tourist hotels to setting up a branch or branches.|
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