Association of CCR and BCC Efficiencies to Market Variables in a Retrospective Two Stage Data Envelope Analysis

The analysis compares constant returns to scale (CRS) and varying returns to scale (VRS) measures, by modeling the performance of internet companies using a two-stage DEA process. In the DEA literature, process efficiency is widely measured by a CRS measure, CCR, and a VRS measure, BCC, which were proposed by Charnes et al. (1978) and Banker et al. (1984), respectively. Measuring the performance of Internet companies using two-stage DEA was also presented by Cao and Yang (2011). The results of the analysis reported in this paper suggest that both forms of DEA efficiency scores are relevant to measure the performance of Internet companies.

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