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A Study on the Relationship between Vertical Separation and Operational Efficiency of Railway Industry  

Kim, Seong-Ho (인하대학교 경영학부)
Choi, Tae-Sung (인하대학교 경영학부)
Publication Information
Journal of the Korean Society for Railway / v.12, no.6, 2009 , pp. 844-851 More about this Journal
Abstract
Since 1990s, the European railway sector has undergone both a vertical separation and a vertical integration. Recently Simar and Wilson (2008) provides a bootstrap test procedure for testing whether two groups' mean efficiencies are equivalent. The purpose of this paper is to ascertain the relationship between vertical separation and operational efficiency of railway industry using the Simar and Wilson's bootstrap test procedure not used in previous studies with a data set of 20 European countries from 1998 to 2005. From the value of test statistic it seems that the mean operational efficiencies of vertically separated railway industry were higher than those of vertically integrated railway industry. However the p-value indicates that the differences of mean operational efficiencies are not significat at any meaningful level.
Keywords
Vertical Separation; Operational Efficiency; Bootstrap Test Procedure;
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