Browsing by Author "Villegas, Andres"

Now showing 1 - 5 of 5
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    Benchmarking the efficiency of the Chilean water and sewerage companies: a double-bootstrap approach
    (2018) Molinos Senante, María; Donoso H., Guillermo; Sala-Garrido, Ramon; Villegas, Andres; CEDEUS (Chile)
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    Impact of external costs of unplanned supply interruptions on water company efficiency: Evidence from Chile
    (2020) Maziotis, Alexandros; Villegas, Andres; Molinos-Senante, Maria; Sala-Garrido, Ramon
    Conventional performance assessments of water companies ignore the external costs due to water supply outages. To overcome this gap, we evaluate the impact of external costs of unplanned supply interruptions on the efficiency of water companies. Two efficiency metrics, internal technical efficiency (ITE), and total technical efficiency (TTE), were estimated based on data envelopment analysis (DEA). The results evidence that the external costs of unplanned water supply interruptions impact, on average, 7.9% of the efficiency of water companies. We also explored the impact of a set of environmental variables on water company efficiency.
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    Measurement of efficiency and its drivers in the Chilean banking industry
    (2024) Cobas, Adriana; Maziotis, Alexandros; Villegas, Andres
    This paper estimates efficiency measures for the banking system in Chile for the period 2000-2019. In contrast to previous studies, we use input-distance functions, introduce the nonparametric slack-based model, and choose the intermediate inputs approach in determining inputs and outputs. Our results suggest that the Chilean system has achieved relatively high levels of efficiency, although with no significant variation over the sample period. Ownership (government, foreign and public) and size had a positive impact on efficiency. On average, mergers and acquisitions seem to have targeted highly efficient banks in order to improve the overall efficiency of the controlling institution in the short run. Other sources of efficiency gains could be an increase in bond funding or a reduction in expenses and capital holdings. The latter could be induced by deepening the local derivatives market.
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    Measuring the marginal costs of reducing water leakage: the case of water and sewerage utilities in Chile
    (2021) Molinos-Senante, Maria; Villegas, Andres; Maziotis, Alexandros; CEDEUS (Chile)
    Water leakage in the urban water cycle involves relevant economic, social, and environmental negative impacts. Thus, reducing water leakage is a key challenge for both water regulators and water companies. This study estimated the evolution (2007-2015) of the marginal cost of improving the quality of service in terms of water leakage in the Chilean water industry, which involves full private, concessionary, and public water companies. In water companies, management skills and efforts play an important role in meeting water leakage targets. Thus, this study employed a cost frontier model where it was assumed that unobserved management ability interacts with output and water leakage factors. The results reveal high levels of cost efficiency for the average water company. Management increases outputs and reduces water leakage and, thus, has a positive impact on costs and efficiency. The marginal cost of reducing water leakage is higher for the public water company than for private and concessionary water companies. The average estimated marginal cost of reducing water leakage was 0.349 euro/m(3), which means that a water company has to spend an extra 0.349 euro in operating costs to avoid a cubic meter of water leakage. Some policy implications were discussed based on the results of this study.
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    Performance analysis of Chilean water companies after the privatization of the industry: the influence of ownership
    (2022) Molinos-Senante, Maria; Maziotis, Alexandros; Villegas, Andres
    This study examines the efficiency and productivity of the Chilean water and sewerage industry over the period 2010-2017 using a stochastic cost frontier model. This methodological approach allowed us to evaluate the impact of water companies ' ownership on their productivity. This is very relevant for the Chilean water and sewerage industry which involves a public, full private and concessionary water companies. The results evidenced that the Chilean water and sewerage industry improved its productivity across years. However, the increase in the productivity of full private and concessionary water companies was larger than the one experienced by the public water company.