Evaluating the efficiency effects of industry consolidation: Evidence from US interstate pipeline companies

摘要: Purpose – Since the early 1990s, US natural gas sector is characterized by substantial industry restructuring as a result of regulatory requirements following liberalization objective. Accordingly, firms have chosen different strategies reaction constraints, such acquisitions, forming holding companies, or joint venture investment. In order to contribute success business driven framework, purpose this paper provide first evidence for impacts on firm's efficiency within transmission business.Design/methodology/approach The approach taken stochastic frontier analysis.Findings results highlighted significant effects structures, and ventures firms' technical estimates. finds improvements caused new shareholder. suggested those holdings be successful which hav...