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AbstractThis paper uses Data Envelopment Analysis to assess the performance of stocks in terms of return on assets, risk and their Environmental‐Social‐Governance score. Next, latent class analysis (LCA) is used to determine groups with similar performances and relates group membership to a set of covariates. The empirical application employs a set of 139 European manufacturing companies from 2016 to 2021 period. The results suggest stocks on average perform 25% below their potential in each of the three dimensions. The LCA suggests five groups and membership of lower performance classes significantly relates with lower size, R&D expenses and Tobin's Q.

International audience ; This article extends the by-production model to the dynamic context of adjustment costs associated with investment. The empirical application focuses on panel data of French suckler cow farms over the period 1978-2014, considering emissions of greenhouse gases as bad output. The paper estimates input and output-specific technical inefficiency scores in the dynamic context and compares them with efficiency measures from the conventional static context. Our results reveal significant differences between inefficiency scores derived from the static and the dynamic frameworks. For all variables except meat production (the good output), the inefficiency score is lower in the dynamic context than in the static context. (C) 2018 Elsevier B.V. All rights reserved.

International audience ; This article extends the by-production model to the dynamic context of adjustment costs associated with investment. The empirical application focuses on panel data of French suckler cow farms over the period 1978-2014, considering emissions of greenhouse gases as bad output. The paper estimates input and output-specific technical inefficiency scores in the dynamic context and compares them with efficiency measures from the conventional static context. Our results reveal significant differences between inefficiency scores derived from the static and the dynamic frameworks. For all variables except meat production (the good output), the inefficiency score is lower in the dynamic context than in the static context. (C) 2018 Elsevier B.V. All rights reserved.

International audience ; This article extends the by-production model to the dynamic context of adjustment costs associated with investment. The empirical application focuses on panel data of French suckler cow farms over the period 1978-2014, considering emissions of greenhouse gases as bad output. The paper estimates input and output-specific technical inefficiency scores in the dynamic context and compares them with efficiency measures from the conventional static context. Our results reveal significant differences between inefficiency scores derived from the static and the dynamic frameworks. For all variables except meat production (the good output), the inefficiency score is lower in the dynamic context than in the static context. (C) 2018 Elsevier B.V. All rights reserved.

International audience ; This article extends the by-production model to the dynamic context of adjustment costs associated with investment. The empirical application focuses on panel data of French suckler cow farms over the period 1978-2014, considering emissions of greenhouse gases as bad output. The paper estimates input and output-specific technical inefficiency scores in the dynamic context and compares them with efficiency measures from the conventional static context. Our results reveal significant differences between inefficiency scores derived from the static and the dynamic frameworks. For all variables except meat production (the good output), the inefficiency score is lower in the dynamic context than in the static context. (C) 2018 Elsevier B.V. All rights reserved.