随机前沿精简与公司业绩:来自印度的证据

Anannya Gogoi, Jagriti Srivastava, Rudra Sensarma
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引用次数: 0

摘要

目的:虽然发展中国家的公司越来越多地采用库存管理的精益实践,但有限的证据表明精益实践对印度等国家的公司绩效的影响。精益实践通过卓越的成本削减措施和运营效率来改善公司的财务绩效。本文考察了印度制造业企业库存精益化对其财务绩效的影响。设计/方法/方法除了使用文献中可用的常规测量方法外,作者还基于随机前沿分析(SLA)测量库存精益度。作者通过检查2009-2018年期间12334家独特的印度制造公司的数据,分析了库存精益对公司财务绩效的影响。本文采用不同的库存精益化方法进行了比较分析,研究了库存精益化对企业绩效的影响。首先,作者发现411个行业中只有68个行业遵循精益实践,即大多数行业不遵循精益实践。第二,估计结果表明库存精益度与企业绩效之间存在正相关关系。结果表明,在整个样本中,库存精益度与企业绩效之间存在倒u型关系。特别是,样本中17%的行业表现出这种关系,并且它足够强,可以在整个样本的平均回归结果中显示出来。基于生产经济学中的SFA方法,提出了一种新的库存精益度度量方法——随机前沿精益度。它通过对照行业“前沿”的库存水平来衡量精益程度。此外,作者利用印度公司的大型面板数据集对精益财务绩效关系进行了实证研究,而不是以前在文献中使用的基于调查的方法。
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Stochastic frontier leanness and firm performance: evidence from India
PurposeWhile firms in developing countries are increasingly adopting lean practices of inventory management, there is limited evidence showing the impact of lean practices on firm performance in countries such as India. Lean practices improve the financial performance of the firms through superior cost-reduction measures and operational efficiencies. This paper examines the impact of inventory leanness in Indian manufacturing firms on their financial performance.Design/methodology/approachThe authors measure inventory leanness based on stochastic frontier analysis (SLA), apart from using conventional measures available in the literature. The authors analyze the impact of inventory leanness on the financial performance of firms by examining data for 12,334 unique Indian manufacturing firms for the period 2009–2018. The authors present a comparative analysis using different methods of inventory leanness and study the effects on firm performance.FindingsFirst, the authors find that only 68 industries out of 411 industries follow lean practices, i.e. most industries do not follow lean practices. Second, the estimation results show that there exists a positive relationship between inventory leanness and firm performance. The results suggest that an inverted U-shaped relationship exists between inventory leanness and firm performance for the entire sample. In particular, 17% of the industries in the sample exhibit such a relationship, and it is sufficiently strong to show up in the average regression results for the entire sample.Originality/valueThe authors introduce a novel measure of inventory leanness named stochastic frontier leanness based on the SFA method used in production economics. It measures leanness by benchmarking the inventory levels against the industry “frontier”. Furthermore, the authors conduct an empirical study of the lean-financial performance relationship with a large panel dataset of Indian firms instead of the survey-based methods that were previously used in the literature.
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来源期刊
CiteScore
7.90
自引率
9.70%
发文量
87
期刊介绍: ■Organisational design and methods ■Performance management ■Performance measurement tools and techniques ■Process analysis, engineering and re-engineering ■Quality and business excellence management Articles can address these topics theoretically or empirically through either a descriptive or critical approach. The co-Editors support articles that significantly bring new knowledge to the area both for academics and practitioners. The material for publication in IJPPM should be written in a manner which makes it accessible to its entire wide-ranging readership. Submissions of highly technical or mathematically-oriented papers are discouraged.
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