Governance and Dynamic Efficiency with Network Structure in the Brazilian Natural Gas Utilities
The objective of this work is to analyze the relevance of governance (corporate and ownership concentration) for the divisional inter-temporal dynamic efficiency in piped natural gas utilities in Brazil. The main innovative contribution of this work is the application of inter-temporal (dynamic) eff...
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2024-12-01
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| author | Francisco Roldineli Varela Marques Alexandro Barbosa Pedro Simões Kelly Cristina de Oliveira |
| author_facet | Francisco Roldineli Varela Marques Alexandro Barbosa Pedro Simões Kelly Cristina de Oliveira |
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| description | The objective of this work is to analyze the relevance of governance (corporate and ownership concentration) for the divisional inter-temporal dynamic efficiency in piped natural gas utilities in Brazil. The main innovative contribution of this work is the application of inter-temporal (dynamic) efficiency analysis with network structure in the first stage, in this case, the ‘Dynamic DEA (Data Envelopment Analysis) with network structure: A slacks-based–DNSBM (Dynamic Network Slacks-Based Measure)’, in which two divisional interactions <inline-formula><math xmlns="http://www.w3.org/1998/Math/MathML" display="inline"><semantics><mrow><msubsup><mrow><mi>δ</mi></mrow><mrow><mi>o</mi><mi>k</mi></mrow><mrow><mo>∗</mo></mrow></msubsup></mrow></semantics></math></inline-formula> (technical–operational and economic–financial division) between <inline-formula><math xmlns="http://www.w3.org/1998/Math/MathML" display="inline"><semantics><mrow><msubsup><mrow><mi>τ</mi></mrow><mrow><mi>o</mi></mrow><mrow><mi>t</mi><mo>∗</mo></mrow></msubsup></mrow></semantics></math></inline-formula> periods and divisional <inline-formula><math xmlns="http://www.w3.org/1998/Math/MathML" display="inline"><semantics><mrow><msubsup><mrow><mi>ρ</mi></mrow><mrow><mi>o</mi><mi>k</mi></mrow><mrow><mi>t</mi><mo>∗</mo></mrow></msubsup></mrow></semantics></math></inline-formula> periods are reflected in the overall efficiency scores <inline-formula><math xmlns="http://www.w3.org/1998/Math/MathML" display="inline"><semantics><mrow><msubsup><mrow><mi>θ</mi></mrow><mrow><mi>o</mi></mrow><mrow><mo>∗</mo></mrow></msubsup></mrow></semantics></math></inline-formula>, representing an approach not yet explored by the previous literature on the sector and subject investigated. The database used corresponds to 21 Brazilian natural gas utilities in the form of a balanced data panel, which were collected for the period 2014–2019. The second stage (explanatory) was estimated through the panel with random effects to identify the relationship between governance and efficiency, considering certain context factors. The results show that the average general efficiency was 74.96%, resulting from the interactions between the average efficiency rates of 72.21% of the technical–operational division and 82.03% of the economic–financial division, and suggest that the corporate governance index and ownership (public or private) are not relevant factors for the efficiency results studied. |
| format | Article |
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| spelling | doaj-art-d7d3b92496c14ab6ad84a24d50c8228c2024-12-27T14:07:29ZengMDPI AGApplied Sciences2076-34172024-12-0114241150210.3390/app142411502Governance and Dynamic Efficiency with Network Structure in the Brazilian Natural Gas UtilitiesFrancisco Roldineli Varela Marques0Alexandro Barbosa1Pedro Simões2Kelly Cristina de Oliveira3HALLIBURTON PRODUTOS LTDA, Federal Rural University of the Semi-Árido (UFERSA), Mossoró 59625-900, RN, BrazilDepartment of Accounting Sciences (DCC), Federal University of Rio Grande do Norte (UFRN), Natal 59078-970, RN, BrazilRCM2+, Universidade Lusófona, Campo Grande 376, 1749-024 Lisbon, PortugalDepartment of Applied Social Sciences (DCSA), Federal Rural University of the Semi-Árido (UFERSA), Campus Mossoró, Mossoró 59625-900, RN, BrazilThe objective of this work is to analyze the relevance of governance (corporate and ownership concentration) for the divisional inter-temporal dynamic efficiency in piped natural gas utilities in Brazil. The main innovative contribution of this work is the application of inter-temporal (dynamic) efficiency analysis with network structure in the first stage, in this case, the ‘Dynamic DEA (Data Envelopment Analysis) with network structure: A slacks-based–DNSBM (Dynamic Network Slacks-Based Measure)’, in which two divisional interactions <inline-formula><math xmlns="http://www.w3.org/1998/Math/MathML" display="inline"><semantics><mrow><msubsup><mrow><mi>δ</mi></mrow><mrow><mi>o</mi><mi>k</mi></mrow><mrow><mo>∗</mo></mrow></msubsup></mrow></semantics></math></inline-formula> (technical–operational and economic–financial division) between <inline-formula><math xmlns="http://www.w3.org/1998/Math/MathML" display="inline"><semantics><mrow><msubsup><mrow><mi>τ</mi></mrow><mrow><mi>o</mi></mrow><mrow><mi>t</mi><mo>∗</mo></mrow></msubsup></mrow></semantics></math></inline-formula> periods and divisional <inline-formula><math xmlns="http://www.w3.org/1998/Math/MathML" display="inline"><semantics><mrow><msubsup><mrow><mi>ρ</mi></mrow><mrow><mi>o</mi><mi>k</mi></mrow><mrow><mi>t</mi><mo>∗</mo></mrow></msubsup></mrow></semantics></math></inline-formula> periods are reflected in the overall efficiency scores <inline-formula><math xmlns="http://www.w3.org/1998/Math/MathML" display="inline"><semantics><mrow><msubsup><mrow><mi>θ</mi></mrow><mrow><mi>o</mi></mrow><mrow><mo>∗</mo></mrow></msubsup></mrow></semantics></math></inline-formula>, representing an approach not yet explored by the previous literature on the sector and subject investigated. The database used corresponds to 21 Brazilian natural gas utilities in the form of a balanced data panel, which were collected for the period 2014–2019. The second stage (explanatory) was estimated through the panel with random effects to identify the relationship between governance and efficiency, considering certain context factors. The results show that the average general efficiency was 74.96%, resulting from the interactions between the average efficiency rates of 72.21% of the technical–operational division and 82.03% of the economic–financial division, and suggest that the corporate governance index and ownership (public or private) are not relevant factors for the efficiency results studied.https://www.mdpi.com/2076-3417/14/24/11502piped natural gascorporate governanceefficiencyDNSBM |
| spellingShingle | Francisco Roldineli Varela Marques Alexandro Barbosa Pedro Simões Kelly Cristina de Oliveira Governance and Dynamic Efficiency with Network Structure in the Brazilian Natural Gas Utilities Applied Sciences piped natural gas corporate governance efficiency DNSBM |
| title | Governance and Dynamic Efficiency with Network Structure in the Brazilian Natural Gas Utilities |
| title_full | Governance and Dynamic Efficiency with Network Structure in the Brazilian Natural Gas Utilities |
| title_fullStr | Governance and Dynamic Efficiency with Network Structure in the Brazilian Natural Gas Utilities |
| title_full_unstemmed | Governance and Dynamic Efficiency with Network Structure in the Brazilian Natural Gas Utilities |
| title_short | Governance and Dynamic Efficiency with Network Structure in the Brazilian Natural Gas Utilities |
| title_sort | governance and dynamic efficiency with network structure in the brazilian natural gas utilities |
| topic | piped natural gas corporate governance efficiency DNSBM |
| url | https://www.mdpi.com/2076-3417/14/24/11502 |
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