This study is the first to apply the Malmquist total factor productivity index and its components under a variable-returns-to-scale (VRS) assumption to the higher education sector. By using this approach, we provide a more realistic and accurate shape of the production frontier than the traditional one, which is obtained using the constant-returns-to-scale (CRS) assumption in previous analyses of productivity changes in higher education institutions. In order to demonstrate the value of this approach, we use data on Malaysian public universities.
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Published by Human Resource Management Academic Research Society (www.hrmars.com)
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