CORPORATE OWNERSHIP AND TECHNICAL EFFICIENCY ANALYSIS IN THE SPANISH REAL ESTATE SECTOR

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Douglas Nanka-Bruce

DOI:10.22495/cocv4i2p10

Abstract

The real estate sector keeps contributing significantly to the Spanish economy. A recent news article reports the existence of inefficiencies in the nature and delivery of new properties. We investigate the technical efficiency of this sector using a non-parametric “reasonable” benchmarking frontier, acknowledging the marked influence of the sector’s shadow economy. We then relate the results applying a panel data analysis to the shareholding concentration and identity of firm ownership. We find no systematic support for the effect of corporate ownership on technical efficiency.

Keywords: Corporate Ownership; Data Envelopment Analysis

How to cite this paper: Nanka-Bruce, D. (2007). Corporate ownership and technical efficiency analysis in the Spanish real estate sector. Corporate Ownership & Control, 4(2), 100-113. http://dx.doi.org/10.22495/cocv4i2p10