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Returns to Growth in Indian Automobile Industry: A Non-Parametric Data Envelopment Analysis (DEA) Approach
Journal of Quantitative Economics Pub Date : 2021-07-30 , DOI: 10.1007/s40953-021-00246-y
Ramakrushna Panigrahi 1
Affiliation  

This paper examines the concept of returns to growth (RTG) of Indian automobile industry by evaluating the relationship between growth of inputs and growth of outputs for estimating the RTG behavior of the major firms. RTG behaviour assumes importance for the Indian automobile industry which operates in a fiercely competitive oligopolistic market environment with clear evidences of price stickiness over last two decades. With increasingly stricter regulatory norms and rising costs of production, the automobile industry faces many challenges to sustain profitability. The firms need to innovate constantly and experience increasing returns to scale (RTS) to remain relevant. The empirical findings of the Indian automobile industry reveal that firms operating under increasing RTS may exhibit constant or decreasing RTG; firms showing constant RTS may exhibit increasing or decreasing RTG; and firms showing decreasing RTS may exhibit constant or increasing RTG. The paper finds that RTS estimates need not provide guidance to the growth strategy behavior of firms which operate under oligopolistic competition which compounds the challenges to remain profitable with a sticky price phenomenon.



中文翻译:

印度汽车业恢复增长:非参数数据包络分析 (DEA) 方法

本文通过评估投入增长与产出增长之间的关系来评估印度汽车工业的增长回报 (RTG) 概念,以估计主要公司的 RTG 行为。RTG 行为对印度汽车行业具有重要意义,该行业在竞争激烈的寡头垄断市场环境中运营,过去 20 年有明显的价格粘性证据。随着越来越严格的监管规范和不断上升的生产成本,汽车行业在维持盈利能力方面面临着许多挑战。公司需要不断创新并体验规模报酬递增 (RTS) 以保持相关性。印度汽车行业的实证结果表明,在增加 RTS 的情况下运营的公司可能会表现出恒定或减少的 RTG;显示恒定 RTS 的公司可能会增加或减少 RTG;显示减少 RTS 的公司可能会表现出恒定或增加的 RTG。该论文发现,RTS 估计不需要为在寡头垄断竞争下运营的公司的增长战略行为提供指导,这加剧了通过粘性价格现象保持盈利的挑战。

更新日期:2021-07-30
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