ABSTRACT

Following the theoretical models discussed and developed in the previous chapter, this chapter aims to empirically estimate the productive efficiency of a sample set of container terminals in Korea and the UK. Based on the econometric frontier model developed in the previous chapter, the efficiency of the terminal operating companies based on both cross-sectional data and panel data is estimated. For the purpose of the research, prior to conducting the empirical investigation, the theoretical model is appropriately operationalised so that it can be converted into a working model. Finally, the empirical results derived are interpreted and assessed.