The effect of governmental subsidies and the contractual model on the publicly-owned bus sector in Japan

The publicly-owned municipal bus sector that provides local transport in Japan is in a difficult situation because of operating deficits, inefficient operations and management, and budgetary constraints of expanding subsidies, and thus, it needs to be restructured to improve efficiency. This paper investigates the impact of subsidies and contractual settings on the cost structure of the publicly-owned bus sector in Japan. A trans-log cost function has been estimated by pooling cross-sectional data of 527 observations over the time period of 1990-2006 for a cross-section of 31 publicly-owned transport companies in Japan. Our analytical results confirm that governmental subsidies to this sector negatively affect the cost structure, while the contractual model may have a positive impact. We also discuss the implications of these results for Japan’s public transport policy.     

The impact of compliance measures on the operation of a bus system: The case of Transantiago

In a regulated bus system operated by private companies, pecuniary incentives can be of primary importance to ensure the quality of the operation and the level of service, especially when there are only a few companies and basically no competition among them. The case of Transantiago, in the capital city of Chile, provides a good example of this. The very ambitious Transantiago project, implemented in 2007 in Santiago, integrated the bus and the subway systems, changing the route structure of the bus services, introducing a common and integrated fare system and electronic payment device, and tendering the operation of approximately 4,600 buses (which by the launch of the system in February 2007 had increased to 5600) to 10 private companies replacing some 4000 small operators which owned 8000 buses. In the beginning, the system faced huge difficulties. Operators' revenue formula basically consisted of a fixed payment, which changed slightly with the actual patronage. This quickly turned out to be a problem, and as technological support became available (several months after the launch), compliance measures were implemented, directly affecting the operators' revenue. The first measure considered the seat/standing places per hour of the buses in operation, for each company, and compared it to the theoretical figure. As a result, buses operating during peak hours increased from 4600 to 5600 in just two months. Subsequent indexes included service frequency and regularity, as well as effective bus-km, aggregated by company first and later by service. This paper shows how the successive implementation of these performance indexes had an impact on the operation of Transantiago in the first years, discusses the difficulties faced to implement them and highlights the importance of technological support to make possible the application of adequate compliance measures.     

集装箱船舶大型化对中国班轮运输的影响

通过竞争情报分析提供了各班轮公司未来船队结构和运力的变化趋势,由此观察到各班轮公司为了降低自身的营运成本,在最近几年大量订购超巴拿马型甚至更大型的集装箱船舶参与运输,但是却不能达到其预期的规模效应。原因就在于相当一部分成本随着船型的增大而线性增加,规模不经济。我们探讨了中国的班轮运输市场的几个重要特点:中外贸易的不平衡导致了货源的不平衡;未来贸易结构的调整会影响航线的布局和调派;贸易上的不稳定因素使班轮公司遇到外在的风险。这些特点会深远地影响集装箱船舶大型化的经济受益,相反的,集装箱船舶大型化的趋势也会加剧这些负面的影响,危及整个班轮运输市场。     

Regulating the regulator: The impact of professional procuring bodies on local public transport policy and its effectiveness

During the past 15 years competitive tenders have become a common procedure when procuring local bus services in Europe. In particular, tenders with gross cost contracts and the so-called Scandinavian model have gained popularity, resulting in a vast amount of research on optimal contractual relationships between government and operators. This paper pays attention to a rather neglected part of the Scandinavian model: the construction of professional procuring bodies and their relationship to the local public administration, focusing on its implications for policy steering and service performance.The paper outlines briefly two different perspectives of analyses of organisational models: one perspective is anchored in principal-agent theory and institutional economics; and the other perspective in political science. Empirically, the article is based on an evaluation of the relation between two Norwegian counties and the administrative company responsible for planning and procuring public transport services. This evaluation indicates, firstly, important common challenges for the county administration due to lack of regional administrative competencies in relation to the administrative company, which also hampers the county’s role as coordinator of policy areas of importance for public transport. Secondly, due to increased transaction costs, the establishment of administrative companies does not seem compatible with contracts relying on net cost solutions with huge scope for operator initiatives.     

Engaging the paratransit sector in Cape Town on public transport reform: Progress,process and risks

The South African government in 2006 initiated an urban public transport reform programme reliant on the introduction of new bus rapid transit (BRT) systems. Affected paratransit operators can opt to be incorporated in these systems by forming new operating companies, but must withdraw their existing services from proposed routes. Cape Town's first phase of BRT operations came online in 2011, and operator engagement has focussed on this phase. The attitudes within this city's paratransit sector in relation to future phases, and to the broader reform policy, remain largely untested. In view of this sector's past resistance to government-led proposals, and the current phase avoiding areas with the highest concentrations of operators, the current engagement process's outcomes may not be adequate indicators of future prospects.     

An analysis of the pricing system in the Greek–Italian coastal routes

Price discrimination is practiced by oligopolistic coastal shipping companies in the ‘unregulated’ Greece–Italy routes in the year 2002. Investigation has been carried out ‘per route’—in a doctoral thesis—instead of ‘per market’ which was the so-far erroneous approach of shipping economists. This is so for a host of differentiating factors play a considerable and non-negligible role (like geography, distance, demand, seasonality and others). Service—and price-discrimination—in coastal shipping is affected also by the predetermined ship design which thus is a special feature—but not exclusively—in coastal shipping. Companies in the Adriatic Sea try to extract the greater possible value of the user's willingness to pay, peak and off-peak, group and ungrouped, for social groups (clubs, families and students). Marketing and economics interfere in a complicated—far from the nice world of theory—situation, where maximization of revenue and profit, capacity utilization, intense seasonality and high fixed cost (common and joint costs as well) are a few of the factors that interplay. This paper can be considered as a case study for applied pricing. Excess capacity is also a strategic factor affecting pricing. It is our opinion that the analysis here gives for the first time a complete theoretical and practical account—based on the price lists of the companies—of the pricing policy of the ferry boats running in the Adriatic Sea belonging to coastal shipping companies connecting Italy with Greece and Greece with the European Union (EU). We believe this work to be useful for maritime Europe.     

Evaluating the long term impacts of transport policy: An initial assessment of bus deregulation

Local buses in Britain, outside London, were ‘deregulated’ as a result of the 1985 Transport Act, with most of the organisational changes implemented in 1986 but many of the ownership changes occurring over a longer period. By contrast, in London, the 1984 London Regional Transport Act introduced a system of comprehensive tendering – but it took 10 years for the organisational and ownership changes to be fully implemented. This paper examines the long term impacts of these changes. A key issue when examining long term changes is that of the counterfactual – what would have happened if the changes had not occurred? An econometric model of the demand for local bus services in Britain is outlined and used in conjunction with extrapolative methods for key variables such as fares and bus kms to determine demand-side counterfactuals. Some analyses of subsidy and of costs will also be outlined. This will then permit the examination of welfare change by estimating changes in consumer and producer surpluses, updating earlier studies. It is found that outside London, bus demand declined strongly, at least up to the year 2000 and some of this reduction can be ascribed to deregulation. By contrast in London, demand has generally been increasing. However, in both areas operating costs also declined strongly, again up to 2000, but since then there have been strong increases in costs and subsidy. Our initial finding is that there are net welfare increases both outside and inside London, but with welfare increases per capita being five times greater in London than elsewhere. However, sensitivity analysis shows that our results are sensitive to the specification of the modelling system and assumptions made concerning the counterfactual, particularly for the results for London.     

Operator changes through competitive tendering: Empirical evidence from German local bus transport

In this paper, we empirically investigate operator changes and the structural conditions in competitive tendering of bus services in Germany. We show that the focus has been on regional services, which has led to a loss in market share for the incumbent DB Stadtverkehr companies and gains for private companies, whereas municipal services have rarely been tendered out. The high average number of bidders (5.1) and the high probability of an operator change (58.2%) are positively influenced by tendering in larger volumes and longer contractual lengths. Tenders in early years have been more likely subject to an operator change. By contrast, complexity drivers such as the number of lines and mixed urban and regional transports exhibit a negative influence on competition.     

‘Regulated deregulation’ of local bus services—An appraisal of international developments

The deregulation of the British bus sector (outside London) in 1986 was the start of a debate on the merits of ‘deregulation’ and ‘competitive tendering’. The period that followed was rich in lessons. New Zealand was at the time the only other country engaging in a reform based upon market initiative (implemented in 1991). Other countries chose for a less extreme and more consensual way to introduce competitive incentives, choosing the fundamentally different competitive tendering (CT) path. As a result, the so-called ‘Scandinavian model’ developed, based upon the London example of route tendering. Later the Netherlands adopted a network tendering approach, resembling the French practice of network tendering though with more operator freedom.     

Problems faced by the shipping industry in raising capital in the securities markets

This papers examines the reasons for the shipping industry's general failure to exploit the enormous capital raising potential offered by the world's major security markets. The basic reason put forward is one of joint ignorance and lack a of communication. On the one hand shipping perceives the market as being unsympathetic to its requierments. On the other hand, the Stock market assess it as a minor activity and this is combined with a presumption of industrial instability. An analysis of recent initial public offering of equaity options in shipping highlights the inadequacy of companies who have ventured that way. In particular it is pointed out that shipping companies who embark on such a course must not forget that equaity is, at one end the same time, the cheapest and the most expensive money which they can raise. There is a further underlying problem for the industry, which is that market capital raising neccessiates the loss of personal control.     

The relative efficiency and financial risk assessment of shipping companies

Since shipping companies are highly competitive, we ask whether financial risk assessment tools impact company performance and, therefore competitiveness and efficiency. Stochastic Frontier Analysis (SFA) is used in the evaluation. Based on distinct features of the risk-return relationship, three cargo segments in the shipping industry are studied—dry bulk, liquid bulk, and containerized cargo. The influence of the risk assessment indicators on market and operational efficiency is subsequently determined using a panel regression to determine whether different asset allocation and risk management techniques improve the performance of shipping companies. In this analysis, 79 international shipping companies listed in Bloomberg Shipping Indices are included in the data collected from Thomson One for the period of 2001–2010. Efficiency estimation from the SFA shows that containerized cargo firms have better performance in both market and operating efficiencies. Operating efficiency performance is achieved by lowering liquidity. Market efficiency is improved by well-managed leverage level.     

Minimizing lifetime structural costs: Optimizing for production and maintenance under service life uncertainty

Current naval shipowners are being forced to extend the service lives of their aging vessels from budgetary and political constraints. This is causing them to incur significant costs due to maintaining the structure of these older ships to keep the ships in operation. These increasing costs make it desirable to design new naval structures with their minimization in mind, as well as ensuring that such vessels are robust to changes in expected service life with respect to their total lifetime cost. However, such structures will necessarily have higher production costs, therefore, an optimization framework is presented to estimate both production and maintenance costs for a naval vessel's internal structure and develop trade-spaces between these two competing objectives in order to find designs that represent a balance of both.     

Impact of the container security initiative on Taiwan's shipping industry

This paper evaluates the impact of risk factors from the container security initiative on Taiwan's shipping industry by employing a risk management matrix to identify the severity and frequency of CSI risk factors, and discovers some appropriate risk management alternatives. This paper's findings are as follows: (1) The majority of risk factors have a moderate-risk level, and possible alternative risk management measures include risk prevention, self-retention and insurance. (2) Ensuring a balance between the efficiency of maritime logistics and supply chain security is of vital importance to any trading countries dealing with security risk issues. (3) The government should encourage the private sector to design and market security hardware and software, which will promote the growth of the domestic security industry and generate employment opportunities.     

微利环境船舶设计之物资成本控制

船市低迷期,船舶建造成本控制成为各大船企逆势生存主要手段,而船舶建造成本的70%在设计阶段就已确定。本文通过访谈调查,介绍了S公司各设计阶段的主要任务及成本控制重点,了解了设计阶段成本控制问题。从设计完善优化、人员培养和考核等方面,总结归纳出六点改进措施,以通过设计阶段成本控制实现公司更大效益。     

我国装备制造业技术创新体系中企业主体作用激活问题研究

此文主要论述了我国装备制造业技术创新系统中企业主体的能动性问题.首先梳理了我国装备制造业技术创新发展的现状及问题,在此背景下,提出提高装备制造业技术创新系统中企业主体的能动性对我国装备制造业进一步发展起到重要作用,并进一步对我国装备制造业企业技术创新的能动性进行界定和具体分析.根据创新的概念,在综合之前文献的基础上,提出我国装备制造业企业的能动性大体可以分解为能力方面和动力方面,在能力方面,指出外部要素的利用能力、内部要素的管理能力和内外部要素的整合能力构成了企业技术创新能力的三个重要部分;在动力方面,尽管文献中主要涉及市场力、科技力和政策力为企业技术进步的重要动力要素,此文所提出的能动性更强调企业所内生的自觉性和主动性,而非外在的拉动力,这是因为企业内部的动力才是技术创新能动性的不竭来源.此文最后针对我国装备制造业企业主体技术创新的能力和动力方面,提出了提高其能动性的一些初步建议.     

Workshop report - Beyond competitive tendering

Most countries contemplating the introduction of competition-based organizational forms did not perceive the British deregulated bus regime to be the way forward. A deeper analysis of facts and an international coverage of the local successes of that regime remained marginal and, as a result, the reputation of deregulated regimes remained bad or - at best - a contentious issue. The rush for competitive tendering was further stimulated by the European Commission’s endeavour to enact a Regulation that put forward competitive tendering of exclusive contracts as the preferred way to organise local public transport markets. Yet, as discussed in this workshop, deregulation in various guises may well play a growing role in local and regional transport. This is already visible in long-distance coach transport and in (international) European railway markets as from 2010. The workshop paper discusses whether such competition-based institutional alternatives to competitive tendering can provide efficiency and service improvements, how such competition-based alternatives should be ‘regulated’ and, alternatively, how a non-competitive direct award could perhaps still guarantee good performance.     

Integrating banks’ decision on financing dry bulk shipping: a multivariable approach

ABSTRACT

Shipping is characterized by extreme changes in revenues, operating expenses and asset values, making shipping banks’ final decision for financing shipping market considerably harder. This paper develops a practical decision tool based on the estimation of the credibility factor in the decision-making process, each bank’s policy, and the most significant variables arising from both its operating environment and the dry bulk market. Revealed relationships between bank’s internal environment, its own policy, and dry-bulk shipping market conditions through GDP growth of China constitute a newly presented decision framework in shipping finance. The values of credibility factor implicate either an aggressive or passive defensive strategy taking into account the GDP China changes: Consistent with the economic growth of China, a bank’s holds an aggressive policy if the credibility coefficient is about one. On the other hand, the model predicts that a less aggressive policy in combination with the increase of China’s GDP would drive to the decrease of bank’s loan grants.     

Comparing operator and users costs of light rail, heavy rail and bus rapid transit over a radial public transport network

A model to compare three alternative forms of public transport - light rail, heavy rail and bus rapid transit - is developed for an urban network with radial lines emanating from the borders to the city centre. The theoretical framework assumes an operation aimed at minimising the total cost associated with public transport service provision, which encompasses both operator and users costs. The decision variables are the number of lines (network density) and the frequency per period for each mode. This approach has no prejudices a priori in respect of whether a specified delivery scenario is aligned with existing modal reputation. Rather, we establish the conditions under which a specific transit mode should be preferred to another in terms of the operator (supply) and user (demand) side offerings. The model is applied using data from Australian cities, suggesting that in most of the scenarios analysed a high standard bus service is the most cost-effective mode, because it provides lower operator costs (infrastructure, rolling stock and operating cost), access time costs (due to a larger number of lines) and waiting time cost (due to larger frequencies of operation). A rail mode, such as light rail or heavy rail, may have a lower total cost only if it is able to run faster than bus rapid transit, and the difference in speed is enough to outweigh the bus advantage on operator cost and access and waiting times.     

中国高技术产业创新效率实证研究--基于面板随机效应Tobit模型的估计

采用三阶段DEA模型测度出中国高新技术产业17个行业的平均创新效率,并将其分解为配置效率和研发效率。在此基础上得出我国高技术产业的创新效率的特点：第一,平均创新效率较低主要是由于低配置效率所导致;第二,同时发现我国高新技术产业研发效率主要受制于低规模效率。第三,高技术产业当前推动研发效率提升的同时却是以配置效率的下降为代价。因此,应注重发挥市场对于资源的配置效率,做到研发效率与配置效率的权衡,从而确保效率最大化。     

Transit costs and cost efficiency: Bootstrapping non-parametric frontiers

This paper explores a selection of recently proposed bootstrapping techniques to estimate non-parametric convex (DEA) cost frontiers and efficiency scores for transit firms. Using a sample of Norwegian bus operators, the key results can be summarized as follows: (i) the bias implied by uncorrected cost efficiency measures is numerically important (close to 25%), (ii) the bootstrapped-based test rejects the constant returns to scale hypothesis, and (iii) explaining patterns of efficiency scores using a two-stage bootstrapping approach detects only one significant covariate, in contrast to earlier results highlighting, e.g., the positive impact of high-powered contract types. Finally, comparing the average inefficiency obtained for the Norwegian data set with an analogous estimate for a smaller French sample illustrates how the estimated differences in average efficiency almost disappear once sample size differences are accounted for.