Results from DEAP Version 2.1 Instruction file = eff1-ins.txt Data file = eff1-dta.txt Output orientated Malmquist DEA DISTANCES SUMMARY year = 1 firm crs te rel to tech in yr vrs no. ************************ te t-1 t t+1 1 0.000 0.575 0.837 0.742 2 0.000 0.067 0.134 1.000 3 0.000 0.471 0.749 0.750 4 0.000 0.191 0.380 0.895 5 0.000 0.127 0.256 0.929 6 0.000 1.000 2.010 1.000 7 0.000 0.123 0.248 0.964 8 0.000 0.041 0.083 0.983 9 0.000 0.096 0.194 0.986 10 0.000 0.095 0.190 0.939 11 0.000 0.322 0.615 0.932 12 0.000 0.081 0.163 0.997 13 0.000 0.723 1.053 0.905 14 0.000 0.024 0.047 1.000 15 0.000 0.072 0.144 0.965 16 0.000 0.553 0.961 0.798 17 0.000 0.454 0.913 1.000 18 0.000 0.223 0.447 1.000 19 0.000 0.041 0.083 1.000 20 0.000 0.302 0.529 0.768 mean 0.000 0.279 0.502 0.928 year = 2 firm crs te rel to tech in yr vrs no. ************************ te t-1 t t+1 1 0.587 0.855 0.948 1.000 2 0.072 0.144 0.115 1.000 3 0.417 0.674 0.674 0.774 4 0.196 0.393 0.316 0.901 5 0.118 0.237 0.189 0.948 6 0.501 1.000 0.809 1.000 7 0.116 0.233 0.185 0.962 8 0.044 0.088 0.070 0.982 9 0.095 0.190 0.151 0.985 10 0.117 0.235 0.187 0.943 11 0.307 0.589 0.495 0.934 12 0.086 0.173 0.137 0.997 13 0.687 1.000 1.109 1.000 14 0.024 0.049 0.039 1.000 15 0.074 0.149 0.118 0.962 16 0.487 0.857 0.787 0.862 17 0.484 0.974 0.774 1.000 18 0.200 0.403 0.320 1.000 19 0.043 0.087 0.069 1.000 20 0.306 0.546 0.495 0.771 mean 0.248 0.444 0.399 0.951 year = 3 firm crs te rel to tech in yr vrs no. ************************ te t-1 t t+1 1 0.863 0.957 0.989 1.000 2 0.150 0.119 0.116 1.000 3 0.616 0.608 0.629 0.739 4 0.389 0.310 0.320 0.905 5 0.219 0.174 0.172 0.947 6 1.258 1.000 1.034 1.000 7 0.221 0.175 0.171 0.955 8 0.094 0.075 0.073 0.981 9 0.199 0.158 0.154 0.990 10 0.275 0.219 0.213 0.950 11 0.586 0.490 0.507 0.939 12 0.193 0.154 0.150 1.000 13 0.801 0.875 0.903 0.898 14 0.061 0.048 0.047 1.000 15 0.146 0.116 0.113 0.958 16 0.821 0.751 0.776 0.823 17 1.005 0.799 0.777 1.000 18 0.388 0.309 0.310 1.000 19 0.097 0.077 0.075 1.000 20 0.561 0.500 0.517 0.774 mean 0.447 0.396 0.402 0.943 year = 4 firm crs te rel to tech in yr vrs no. ************************ te t-1 t t+1 1 0.968 1.000 1.017 1.000 2 0.122 0.118 0.134 1.000 3 0.597 0.617 0.642 0.745 4 0.284 0.290 0.320 0.903 5 0.166 0.162 0.183 0.947 6 1.028 1.000 1.129 1.000 7 0.181 0.177 0.198 0.960 8 0.075 0.073 0.083 0.980 9 0.148 0.144 0.162 0.988 10 0.222 0.216 0.244 0.953 11 0.435 0.449 0.490 0.940 12 0.162 0.158 0.178 1.000 13 0.780 0.806 0.819 0.908 14 0.051 0.050 0.056 1.000 15 0.106 0.103 0.116 0.954 16 0.579 0.599 0.637 0.755 17 0.825 0.802 0.906 1.000 18 0.286 0.284 0.314 1.000 19 0.078 0.076 0.086 1.000 20 0.442 0.457 0.490 0.778 mean 0.377 0.379 0.410 0.941 year = 5 firm crs te rel to tech in yr vrs no. ************************ te t-1 t t+1 1 0.984 1.000 1.195 1.000 2 0.117 0.132 0.138 1.000 3 0.539 0.563 0.655 0.713 4 0.285 0.315 0.349 0.905 5 0.154 0.173 0.188 0.947 6 0.904 1.000 1.109 1.000 7 0.161 0.181 0.198 0.960 8 0.076 0.085 0.089 0.980 9 0.129 0.146 0.153 0.988 10 0.218 0.247 0.261 0.958 11 0.414 0.452 0.503 0.945 12 0.143 0.161 0.169 0.995 13 0.780 0.793 0.948 0.915 14 0.055 0.062 0.065 1.000 15 0.099 0.112 0.119 0.951 16 0.440 0.469 0.534 0.744 17 0.790 0.892 0.941 1.000 18 0.264 0.295 0.325 1.000 19 0.076 0.086 0.090 1.000 20 0.525 0.566 0.638 0.786 mean 0.358 0.387 0.433 0.939 year = 6 firm crs te rel to tech in yr vrs no. ************************ te t-1 t t+1 1 0.820 0.976 0.922 1.000 2 0.129 0.135 0.146 1.000 3 0.523 0.606 0.601 0.720 4 0.303 0.336 0.363 0.906 5 0.164 0.176 0.191 0.950 6 0.904 1.000 1.076 1.000 7 0.166 0.181 0.195 0.958 8 0.096 0.101 0.109 0.980 9 0.147 0.154 0.166 0.992 10 0.274 0.287 0.311 0.960 11 0.433 0.482 0.514 0.952 12 0.180 0.189 0.204 1.000 13 0.811 0.967 0.913 0.974 14 0.076 0.079 0.085 1.000 15 0.127 0.134 0.146 0.953 16 0.374 0.426 0.436 0.750 17 0.954 1.000 1.084 1.000 18 0.283 0.309 0.334 1.000 19 0.082 0.086 0.093 1.000 20 0.536 0.602 0.631 0.793 mean 0.369 0.411 0.426 0.944 year = 7 firm crs te rel to tech in yr vrs no. ************************ te t-1 t t+1 1 0.743 0.706 0.720 0.764 2 0.118 0.128 0.123 1.000 3 0.639 0.636 0.639 0.735 4 0.313 0.338 0.330 0.908 5 0.144 0.156 0.152 0.957 6 0.323 0.347 0.340 0.919 7 0.164 0.177 0.173 0.961 8 0.057 0.062 0.060 0.979 9 0.154 0.166 0.161 1.000 10 0.169 0.182 0.176 0.951 11 0.446 0.476 0.468 0.962 12 0.131 0.142 0.137 0.994 13 1.059 1.000 1.025 1.000 14 0.058 0.062 0.060 1.000 15 0.094 0.102 0.100 0.946 16 0.418 0.429 0.427 0.755 17 0.927 1.000 0.972 1.000 18 0.273 0.295 0.288 1.000 19 0.073 0.079 0.076 1.000 20 0.571 0.603 0.595 0.800 mean 0.344 0.354 0.351 0.932 year = 8 firm crs te rel to tech in yr vrs no. ************************ te t-1 t t+1 1 0.692 0.704 0.713 0.750 2 0.133 0.129 0.142 1.000 3 0.513 0.514 0.539 0.743 4 0.340 0.331 0.369 0.911 5 0.143 0.140 0.156 0.967 6 0.410 0.402 0.443 0.927 7 0.202 0.197 0.220 0.965 8 0.094 0.091 0.099 0.976 9 0.164 0.158 0.174 0.998 10 0.186 0.180 0.202 0.952 11 0.602 0.591 0.649 0.977 12 0.147 0.142 0.160 0.996 13 0.980 1.000 1.013 1.000 14 0.074 0.071 0.080 1.000 15 0.116 0.113 0.127 0.951 16 0.475 0.473 0.505 0.767 17 1.035 1.000 1.124 1.000 18 0.273 0.266 0.298 1.000 19 0.085 0.083 0.092 0.999 20 0.617 0.608 0.663 0.807 mean 0.364 0.360 0.388 0.934 year = 9 firm crs te rel to tech in yr vrs no. ************************ te t-1 t t+1 1 0.776 0.790 0.740 0.821 2 0.137 0.152 0.149 1.000 3 0.501 0.527 0.502 0.781 4 0.313 0.349 0.341 0.933 5 0.141 0.158 0.154 0.975 6 0.424 0.467 0.455 0.951 7 0.197 0.220 0.215 0.968 8 0.091 0.099 0.097 0.975 9 0.163 0.179 0.177 0.996 10 0.276 0.301 0.297 0.961 11 0.414 0.454 0.441 1.000 12 0.165 0.186 0.182 1.000 13 0.990 1.000 0.942 1.000 14 0.072 0.081 0.079 1.000 15 0.102 0.114 0.112 0.950 16 0.483 0.518 0.498 0.798 17 0.919 1.000 0.985 1.000 18 0.241 0.270 0.265 1.000 19 0.087 0.096 0.095 0.998 20 0.748 0.820 0.796 0.860 mean 0.362 0.389 0.376 0.948 year = 10 firm crs te rel to tech in yr vrs no. ************************ te t-1 t t+1 1 0.709 0.666 0.695 0.828 2 0.115 0.113 0.170 1.000 3 0.503 0.480 0.574 0.841 4 0.327 0.320 0.467 0.949 5 0.170 0.166 0.242 0.981 6 0.267 0.260 0.365 0.922 7 0.229 0.224 0.327 0.971 8 0.098 0.097 0.146 0.975 9 0.185 0.182 0.274 1.000 10 0.166 0.164 0.245 0.949 11 0.433 0.421 0.584 1.000 12 0.188 0.185 0.274 1.000 13 1.070 1.000 1.025 1.000 14 0.073 0.072 0.106 1.000 15 0.101 0.099 0.147 0.947 16 0.526 0.506 0.647 0.870 17 1.156 1.000 1.653 1.000 18 0.256 0.251 0.369 1.000 19 0.103 0.101 0.152 0.997 20 0.715 0.695 0.969 0.960 mean 0.370 0.350 0.472 0.960 year = 11 firm crs te rel to tech in yr vrs no. ************************ te t-1 t t+1 1 0.694 0.741 0.724 0.835 2 0.100 0.151 0.147 1.000 3 0.456 0.551 0.529 0.839 4 0.310 0.452 0.434 0.956 5 0.183 0.267 0.256 0.987 6 0.216 0.308 0.292 0.889 7 0.246 0.360 0.347 0.981 8 0.100 0.151 0.148 0.977 9 0.191 0.289 0.284 1.000 10 0.207 0.311 0.304 0.970 11 0.420 0.585 0.553 1.000 12 0.176 0.260 0.253 1.000 13 0.984 1.000 1.011 1.000 14 0.070 0.104 0.101 1.000 15 0.089 0.131 0.127 0.945 16 0.489 0.630 0.600 0.871 17 0.610 1.000 1.027 1.000 18 0.242 0.357 0.345 1.000 19 0.092 0.138 0.135 0.997 20 0.710 0.995 0.940 1.000 mean 0.329 0.439 0.428 0.962 year = 12 firm crs te rel to tech in yr vrs no. ************************ te t-1 t t+1 1 0.725 0.705 0.000 0.828 2 0.135 0.132 0.000 1.000 3 0.465 0.446 0.000 0.819 4 0.435 0.419 0.000 0.951 5 0.218 0.210 0.000 0.986 6 0.357 0.342 0.000 0.865 7 0.346 0.333 0.000 0.978 8 0.128 0.126 0.000 0.977 9 0.303 0.298 0.000 1.000 10 0.352 0.346 0.000 0.981 11 0.567 0.536 0.000 1.000 12 0.204 0.198 0.000 1.000 13 1.021 1.000 0.000 1.000 14 0.099 0.096 0.000 1.000 15 0.115 0.112 0.000 0.942 16 0.626 0.596 0.000 0.873 17 0.727 0.744 0.000 1.000 18 0.364 0.352 0.000 1.000 19 0.127 0.124 0.000 0.998 20 1.060 1.000 0.000 1.000 mean 0.419 0.406 0.000 0.960 [Note that t-1 in year 1 and t+1 in the final year are not defined] MALMQUIST INDEX SUMMARY year = 2 firm effch techch pech sech tfpch 1 1.487 0.687 1.347 1.104 1.021 2 2.164 0.497 1.000 2.164 1.077 3 1.429 0.625 1.031 1.385 0.892 4 2.058 0.500 1.006 2.045 1.030 5 1.866 0.497 1.021 1.828 0.928 6 1.000 0.499 1.000 1.000 0.499 7 1.885 0.497 0.998 1.889 0.938 8 2.142 0.497 0.999 2.143 1.065 9 1.974 0.497 1.000 1.975 0.982 10 2.487 0.497 1.004 2.477 1.237 11 1.829 0.522 1.001 1.827 0.955 12 2.127 0.497 1.000 2.127 1.058 13 1.384 0.687 1.105 1.253 0.950 14 2.079 0.497 1.000 2.079 1.034 15 2.079 0.497 0.997 2.085 1.034 16 1.550 0.572 1.079 1.436 0.886 17 2.143 0.497 1.000 2.143 1.066 18 1.809 0.497 1.000 1.809 0.900 19 2.107 0.497 1.000 2.107 1.048 20 1.806 0.567 1.003 1.800 1.023 mean 1.834 0.528 1.027 1.786 0.969 year = 3 firm effch techch pech sech tfpch 1 1.119 0.902 1.000 1.119 1.009 2 0.828 1.258 1.000 0.828 1.041 3 0.903 1.005 0.955 0.946 0.908 4 0.788 1.249 1.005 0.785 0.985 5 0.734 1.258 0.999 0.734 0.923 6 1.000 1.247 1.000 1.000 1.247 7 0.753 1.258 0.993 0.758 0.947 8 0.849 1.258 0.998 0.851 1.068 9 0.829 1.258 1.004 0.826 1.043 10 0.928 1.258 1.008 0.921 1.168 11 0.832 1.193 1.005 0.828 0.992 12 0.890 1.258 1.003 0.887 1.119 13 0.875 0.909 0.898 0.974 0.795 14 0.983 1.258 1.000 0.983 1.237 15 0.779 1.258 0.996 0.782 0.980 16 0.876 1.092 0.955 0.917 0.956 17 0.821 1.258 1.000 0.821 1.032 18 0.767 1.258 1.000 0.767 0.965 19 0.883 1.258 1.000 0.883 1.110 20 0.916 1.113 1.005 0.912 1.019 mean 0.863 1.184 0.991 0.871 1.022 year = 4 firm effch techch pech sech tfpch 1 1.045 0.968 1.000 1.045 1.011 2 0.991 1.028 1.000 0.991 1.019 3 1.013 0.968 1.007 1.006 0.981 4 0.936 0.973 0.998 0.938 0.911 5 0.930 1.021 0.999 0.931 0.950 6 1.000 0.997 1.000 1.000 0.997 7 1.008 1.023 1.005 1.003 1.031 8 0.979 1.028 0.999 0.980 1.007 9 0.911 1.028 0.999 0.912 0.936 10 0.988 1.028 1.003 0.985 1.016 11 0.916 0.968 1.001 0.915 0.886 12 1.025 1.028 1.000 1.025 1.054 13 0.922 0.968 1.011 0.911 0.892 14 1.036 1.028 1.000 1.036 1.065 15 0.889 1.028 0.995 0.893 0.914 16 0.798 0.968 0.917 0.870 0.772 17 1.004 1.028 1.000 1.004 1.033 18 0.919 1.002 1.000 0.919 0.921 19 0.991 1.028 1.000 0.991 1.019 20 0.914 0.968 1.005 0.909 0.884 mean 0.959 1.004 0.997 0.962 0.962 year = 5 firm effch techch pech sech tfpch 1 1.000 0.984 1.000 1.000 0.984 2 1.114 0.885 1.000 1.114 0.987 3 0.913 0.959 0.958 0.953 0.875 4 1.088 0.906 1.002 1.086 0.986 5 1.071 0.886 1.000 1.070 0.949 6 1.000 0.894 1.000 1.000 0.894 7 1.027 0.889 1.000 1.027 0.913 8 1.167 0.885 1.000 1.166 1.033 9 1.014 0.885 0.999 1.015 0.898 10 1.143 0.885 1.005 1.138 1.012 11 1.006 0.917 1.005 1.000 0.922 12 1.021 0.885 0.995 1.026 0.904 13 0.984 0.984 1.008 0.977 0.968 14 1.240 0.885 1.000 1.240 1.097 15 1.089 0.885 0.997 1.092 0.964 16 0.783 0.940 0.986 0.794 0.735 17 1.112 0.885 1.000 1.112 0.984 18 1.039 0.900 1.000 1.039 0.935 19 1.125 0.885 1.000 1.125 0.996 20 1.238 0.930 1.010 1.226 1.151 mean 1.053 0.907 0.998 1.055 0.956 year = 6 firm effch techch pech sech tfpch 1 0.976 0.838 1.000 0.976 0.818 2 1.027 0.954 1.000 1.027 0.979 3 1.077 0.861 1.010 1.067 0.928 4 1.065 0.902 1.001 1.064 0.961 5 1.017 0.928 1.003 1.014 0.943 6 1.000 0.903 1.000 1.000 0.903 7 0.995 0.917 0.998 0.997 0.913 8 1.183 0.954 1.000 1.183 1.128 9 1.054 0.954 1.005 1.049 1.005 10 1.162 0.949 1.003 1.160 1.103 11 1.066 0.899 1.007 1.059 0.958 12 1.174 0.954 1.005 1.168 1.120 13 1.219 0.837 1.064 1.146 1.021 14 1.277 0.954 1.000 1.277 1.218 15 1.195 0.947 1.002 1.193 1.132 16 0.908 0.878 1.007 0.902 0.797 17 1.121 0.951 1.000 1.121 1.066 18 1.049 0.912 1.000 1.049 0.956 19 1.006 0.954 1.000 1.006 0.960 20 1.064 0.889 1.009 1.054 0.945 mean 1.078 0.916 1.006 1.072 0.987 year = 7 firm effch techch pech sech tfpch 1 0.723 1.056 0.764 0.946 0.764 2 0.943 0.927 1.000 0.943 0.873 3 1.048 1.007 1.021 1.027 1.056 4 1.007 0.926 1.003 1.004 0.932 5 0.882 0.924 1.008 0.875 0.814 6 0.347 0.930 0.919 0.377 0.323 7 0.980 0.924 1.003 0.977 0.906 8 0.613 0.927 0.999 0.614 0.568 9 1.081 0.927 1.008 1.073 1.001 10 0.634 0.925 0.991 0.640 0.587 11 0.989 0.937 1.011 0.978 0.927 12 0.749 0.927 0.994 0.753 0.694 13 1.034 1.059 1.027 1.006 1.095 14 0.784 0.927 1.000 0.784 0.726 15 0.763 0.922 0.993 0.768 0.703 16 1.009 0.975 1.007 1.002 0.983 17 1.000 0.924 1.000 1.000 0.924 18 0.955 0.924 1.000 0.955 0.883 19 0.915 0.927 1.000 0.915 0.848 20 1.001 0.951 1.008 0.993 0.952 mean 0.848 0.946 0.986 0.860 0.802 year = 8 firm effch techch pech sech tfpch 1 0.997 0.982 0.981 1.016 0.979 2 1.009 1.035 1.000 1.009 1.045 3 0.809 0.996 1.011 0.800 0.806 4 0.980 1.024 1.003 0.977 1.004 5 0.899 1.026 1.010 0.890 0.922 6 1.161 1.019 1.008 1.151 1.183 7 1.113 1.025 1.004 1.108 1.141 8 1.462 1.035 0.998 1.465 1.514 9 0.951 1.035 0.998 0.953 0.985 10 0.989 1.034 1.001 0.988 1.023 11 1.241 1.017 1.015 1.223 1.263 12 1.003 1.035 1.002 1.000 1.038 13 1.000 0.978 1.000 1.000 0.978 14 1.151 1.031 1.000 1.151 1.186 15 1.107 1.028 1.005 1.101 1.138 16 1.101 1.006 1.016 1.084 1.107 17 1.000 1.032 1.000 1.000 1.032 18 0.902 1.026 1.000 0.902 0.925 19 1.047 1.035 0.999 1.048 1.084 20 1.008 1.014 1.009 0.999 1.022 mean 1.038 1.021 1.003 1.035 1.060 year = 9 firm effch techch pech sech tfpch 1 1.123 0.984 1.094 1.026 1.105 2 1.177 0.906 1.000 1.177 1.065 3 1.025 0.953 1.051 0.975 0.977 4 1.052 0.897 1.024 1.028 0.944 5 1.128 0.896 1.008 1.119 1.010 6 1.162 0.908 1.026 1.133 1.055 7 1.115 0.896 1.003 1.112 0.999 8 1.094 0.915 0.999 1.095 1.001 9 1.134 0.908 0.998 1.137 1.031 10 1.673 0.905 1.009 1.659 1.514 11 0.768 0.911 1.024 0.750 0.700 12 1.309 0.890 1.004 1.304 1.165 13 1.000 0.988 1.000 1.000 0.988 14 1.127 0.891 1.000 1.127 1.004 15 1.007 0.892 0.998 1.009 0.898 16 1.097 0.934 1.041 1.054 1.024 17 1.000 0.904 1.000 1.000 0.904 18 1.014 0.894 1.000 1.014 0.907 19 1.165 0.902 1.000 1.166 1.051 20 1.350 0.914 1.065 1.267 1.234 mean 1.114 0.914 1.017 1.095 1.018 year = 10 firm effch techch pech sech tfpch 1 0.842 1.066 1.009 0.835 0.898 2 0.747 1.016 1.000 0.747 0.760 3 0.910 1.050 1.077 0.845 0.955 4 0.918 1.021 1.017 0.903 0.938 5 1.054 1.021 1.006 1.047 1.076 6 0.557 1.027 0.970 0.574 0.572 7 1.019 1.021 1.003 1.016 1.041 8 0.977 1.015 1.000 0.977 0.992 9 1.014 1.016 1.004 1.010 1.030 10 0.544 1.016 0.988 0.550 0.552 11 0.927 1.029 1.000 0.927 0.954 12 0.994 1.018 1.000 0.994 1.012 13 1.000 1.066 1.000 1.000 1.066 14 0.892 1.019 1.000 0.892 0.908 15 0.869 1.019 0.997 0.872 0.886 16 0.977 1.040 1.091 0.895 1.016 17 1.000 1.083 1.000 1.000 1.083 18 0.931 1.020 1.000 0.931 0.950 19 1.054 1.017 0.999 1.056 1.072 20 0.848 1.029 1.116 0.760 0.873 mean 0.891 1.030 1.013 0.879 0.918 year = 11 firm effch techch pech sech tfpch 1 1.113 0.947 1.009 1.104 1.055 2 1.329 0.666 1.000 1.329 0.885 3 1.149 0.831 0.998 1.151 0.955 4 1.412 0.686 1.008 1.400 0.968 5 1.606 0.686 1.007 1.595 1.102 6 1.183 0.707 0.965 1.226 0.837 7 1.607 0.685 1.010 1.591 1.100 8 1.558 0.661 1.001 1.556 1.030 9 1.589 0.662 1.000 1.589 1.052 10 1.899 0.666 1.022 1.858 1.266 11 1.389 0.720 1.000 1.389 1.000 12 1.411 0.675 1.000 1.411 0.953 13 1.000 0.980 1.000 1.000 0.980 14 1.450 0.676 1.000 1.450 0.981 15 1.321 0.677 0.998 1.324 0.894 16 1.244 0.779 1.000 1.243 0.969 17 1.000 0.608 1.000 1.000 0.608 18 1.418 0.680 1.000 1.418 0.964 19 1.358 0.667 1.000 1.358 0.906 20 1.430 0.716 1.042 1.373 1.024 mean 1.356 0.714 1.003 1.352 0.968 year = 12 firm effch techch pech sech tfpch 1 0.951 1.026 0.991 0.959 0.976 2 0.877 1.022 1.000 0.877 0.895 3 0.809 1.042 0.976 0.829 0.843 4 0.927 1.039 0.994 0.932 0.963 5 0.786 1.039 0.999 0.787 0.817 6 1.111 1.049 0.973 1.142 1.165 7 0.926 1.038 0.996 0.930 0.962 8 0.838 1.017 1.000 0.838 0.852 9 1.032 1.017 1.000 1.032 1.050 10 1.113 1.019 1.011 1.101 1.135 11 0.917 1.058 1.000 0.917 0.970 12 0.759 1.031 1.000 0.759 0.783 13 1.000 1.005 1.000 1.000 1.005 14 0.923 1.031 1.000 0.923 0.952 15 0.853 1.031 0.997 0.855 0.879 16 0.947 1.049 1.003 0.944 0.993 17 0.744 0.975 1.000 0.744 0.725 18 0.988 1.033 1.000 0.988 1.021 19 0.900 1.023 1.001 0.899 0.921 20 1.005 1.059 1.000 1.005 1.064 mean 0.915 1.030 0.997 0.917 0.942 MALMQUIST INDEX SUMMARY OF ANNUAL MEANS year effch techch pech sech tfpch 2 1.834 0.528 1.027 1.786 0.969 3 0.863 1.184 0.991 0.871 1.022 4 0.959 1.004 0.997 0.962 0.962 5 1.053 0.907 0.998 1.055 0.956 6 1.078 0.916 1.006 1.072 0.987 7 0.848 0.946 0.986 0.860 0.802 8 1.038 1.021 1.003 1.035 1.060 9 1.114 0.914 1.017 1.095 1.018 10 0.891 1.030 1.013 0.879 0.918 11 1.356 0.714 1.003 1.352 0.968 12 0.915 1.030 0.997 0.917 0.942 mean 1.058 0.909 1.003 1.055 0.962 MALMQUIST INDEX SUMMARY OF FIRM MEANS firm effch techch pech sech tfpch 1 1.019 0.943 1.010 1.009 0.960 2 1.064 0.903 1.000 1.064 0.961 3 0.995 0.927 1.008 0.987 0.923 4 1.074 0.898 1.006 1.068 0.965 5 1.047 0.903 1.005 1.041 0.945 6 0.907 0.904 0.987 0.919 0.820 7 1.094 0.902 1.001 1.093 0.987 8 1.108 0.903 0.999 1.108 1.000 9 1.108 0.903 1.001 1.107 1.000 10 1.125 0.902 1.004 1.121 1.015 11 1.047 0.906 1.006 1.041 0.949 12 1.084 0.904 1.000 1.084 0.980 13 1.030 0.945 1.009 1.021 0.973 14 1.136 0.904 1.000 1.136 1.027 15 1.041 0.903 0.998 1.044 0.940 16 1.007 0.917 1.008 0.999 0.924 17 1.046 0.896 1.000 1.046 0.937 18 1.043 0.900 1.000 1.043 0.938 19 1.105 0.903 1.000 1.105 0.998 20 1.115 0.908 1.024 1.088 1.012 mean 1.058 0.909 1.003 1.055 0.962 [Note that all Malmquist index averages are geometric means]