J. L. Fernández Sánchez, Ignacio Llorente García, M. Luna
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Technical efficiency of sea bass and sea bream farming in the Mediterranean Sea by European firms: A stochastic production frontier (SPF) approach
Abstract In recent years, European producers of cultured sea bass and sea bream have experienced a highly competitive market with low prices that have caused profitability challenges. An important factor of economic competitiveness for firms is to produce efficiently. In this paper, technical efficiency of European producers of cultured sea bass and sea bream is evaluated for the period 2008–2017 using the stochastic production frontier (SPF) approach. In addition, the effect of a set of specific-firm factors on firms’ efficiency is investigated. The majority of firms in the sample were found to have a technical efficiency over 90% with Cypriot and Greek firms being, on average, the most efficient. We also found evidence that the technical efficiency of these firms is positively related to their size. Moreover, the high degree of average efficiency means that further production growth requires innovations that move up the production frontier.
期刊介绍：
Aquaculture Economics and Management is a peer-reviewed, international journal which aims to encourage the application of economic analysis to the management, modeling, and planning of aquaculture in public and private sectors. The journal publishes original, high quality papers related to all aspects of aquaculture economics and management including aquaculture production and farm management, innovation and technology adoption, processing and distribution, marketing, consumer behavior and pricing, international trade, policy analysis, and the role of aquaculture in food security, livelihoods, and environmental management. Papers are peer reviewed and evaluated for their scientific merits and contributions.
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