Measuring Potential Gains from Mergers among Electricity Distribution Companies in Tiirkey using a Non-Parametric Model
研究评估土耳其政府提议的配电公司合并能否提升生产效率，通过比较实际效率与合并后公司的潜在效率，发现合并可能带来显著效率提升。
Turkish electricity reform is entering a new phase through the Turkish Government’s proposal to create 21 new distribution companies, 18 of them by m erger. Two aspects of merger analysis are the operational cost savings and the potential production efficiency gains. This paper concentrates on the secondaspect and uses a recently developed methodology to assess the potential effect of these mergers and whether these mergers are efficiency enhancing. This is performed by comparing the actual efficiency levels of observed distribution companies with the merger of proposed aggregated companies. The model is calibrated on panel data from 1999 to 2003 which include m easures of physical capital and labor inputs, as well as customer and energy related outputs. The results indicate potential for considerable efficiency gains from the proposed mergers.