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Existing studies of school efficiency primarily specify teacher inputs as the number of teachers and perhaps the student-teacher ratio. As a result, there is no direct qualitative recognition of the learning environment. The purpose of this paper is to incorporate the learning environment directly into the assessment of school efficiency.

The authors employ data envelopment analysis to derive efficiency scores and the double-bootstrap truncated regression approach in Simar and Wilson’s (2007) Journal of Econometrics to quantify the sources of efficiency in 430 Queensland state primary schools. In the first stage, the outputs of student National Assessment Program-Literacy and Numeracy scores and the inputs of full-time equivalent teaching staff and cumulative capital expenditure per student are used to measure efficiency. In the second stage, the authors specify an index of community socio-educational advantage, class size, the share of teachers with postgraduate qualifications, funds spent on professional development, and surveyed opinions from parents/caregivers, students, staff and principals on the learning environment to explain these measures of efficiency.

Socio-economic background and the teaching environment affect school efficiency. Although not all variables related to teacher contribution are significant, there is evidence to suggest that teachers have a positive influence on student performance hence school efficiency. Teachers ability to clearly explain the requirements of schoolwork tasks and listening to student opinions sets an ideal student engagement environment which can have a profound impact on student learning.

From a policy perspective, policy makers should target resources at inefficient schools aimed at enhancing student learning through teacher development and, at the same time, providing financial and non-financial educational assistance to students and their families from a low socio-educational background.

This is the first large-scale primary school efficiency analysis to incorporate the Simar and Wilson (2007) approach to explaining the determinants of efficiency, including teaching environment from the perspective of students, teachers and other stakeholders.

In this study, the impact of owner-operator and non-owner operator rice mills on productive efficiency is investigated.

Primary data collected from a survey of 111 rice mills in the Mwea region of Kenya are used. A metafrontier approach is employed to measure overall technical efficiency which is decomposed into managerial and organisational efficiency.

The results reveal no significant difference in overall technical and managerial efficiency between owner and non-owner operated mills. However, a significant difference exists in organisational efficiency of mills: non-owner operated mills were found to be performing significantly better than owner-operated.

The authors provide supporting evidence to the study and discuss some of the significant policy implications stemming from the study.

It is recognised that for owners to take the risk of divesting control to a hired manager rather than manage the firm themselves can have major strategic, financial and often emotional consequences. However, there is little empirical evidence on how production efficiency will develop as a result of hiring a manager with the underlying economic theory providing ambiguous guidance. Standard economic theory assumes that firms behave as profit maximisers, which can be achieved by operating efficiently. However, this may not always be the case and as the literature indicates, this may especially be so for small businesses in low- and middle-income countries.

There is ample empirical evidence to show that larger banks are more efficient than smaller banks in developed countries. However, there is very little empirical evidence to show that in small developing economies, such as Vietnam, bank size is associated with increased risk, especially credit risk. This paper aim to provide empirical evidence to fill in this gap. This paper employs a slack-based directional distance function using the intermediation approach in measuring the inefficiency of banks in Vietnam during the period 2006–2015. Non-performing loans are used as an undesirable output to capture credit risk. The results show that small banks are more efficient than large banks at the mean level and across the entire distributions of inefficiency of the two groups. Input waste, output shortage and risk surplus of big banks are nearly three times higher than those of small banks. The results are robust under constant and variable returns to scale for production technologies. The study’s empirical results contribute to the ongoing debate on the merits of enlarging bank size in a small transitional economy and suggest that policy makers should pay attention to the risk and inefficiency of large banks to enhance the performance of Vietnam's banking system as a whole.

This paper uses the non-radial slack-based directional technology distance function developed by Färe and Grosskopf (2010) to estimate the efficiency of banks using the data envelopment analysis technique. Data for 44 commercial banks are used.

The empirical results of the paper contribute to the ongoing debate on the merits of enlarging bank size in a small transitional economy and suggest that policy makers should pay attention to the risk and inefficiency of large banks to improve the performance of Vietnam's banking system as a whole.

This paper extends the extant literature by examining whether efficiency is associated with size in a typical transitional developing economy. The classic Cournot model, the structure-conduct-performance and the efficiency structure hypotheses state that larger banks are more efficient than smaller banks (Bikker and Bos, 2008). Empirical studies of Berger (2003), Mester (2005), Wheelock and Wilson (2012) lend support to the statement in developed countries. However, not much empirical literature focuses on small developing economies such as Vietnam to show that bank size is associated with increased risk, especially credit risk. The study’s empirical results show that size enlargement is not positively associated with risk-adjusted efficiency. Input waste, output shortage and risk surplus of big banks are nearly three times higher than those of small banks. The results are robust under constant and variable returns to scale for production technologies.

Information on the impact of flooding is fundamental to mitigating flood risk in residential property. This paper aims to provide insight into the seller disclosure of flood risk and buyer behaviour in the absence of mandated seller disclosure.

This paper adopts a case study approach to critically evaluate the matrix of flood information available for buyers purchasing residential property in Brisbane, Queensland. This paper uses big data analytic techniques to extract and analyse internet data from online seller agents and buyer platforms to gain an understanding of buyer awareness and consideration of flood risk in the residential property market.

Analysis of property marketing data demonstrates that seller agents voluntarily disclose flood impact only in periods where a flooding event is anticipated and is limited to asserting a property is free of flood risk. Analysis of buyer commentary demonstrates that buyers are either unaware of flood information or are discounting the risk of flood in favour of other property and locational attributes when selecting residential property.

This research suggests that improved and accessible government-provided flood mapping tools are not enhancing buyers’ understanding and awareness of flood risk. Accordingly, it is recommended that mandatory disclosure be introduced in Queensland so that buyers are more able to manage risk and investment decisions before the purchase of residential property.

This paper contributes to existing literature on raising community awareness and understanding of natural disaster risks and makes a further contribution in identifying mandatory disclosure as a mechanism to highlight the risk of flooding and inform residential property purchasers.

Farmers' exposure to pesticides is high in developing countries. As a result many farmers suffer from ill‐health, both short and long term. Deaths are not uncommon. Seeks to address this issue.

Field survey data from Sri Lanka are used to estimate farmers' expenditure on defensive behaviour (DE) and to determine factors that influence DE. The avertive behaviour approach is used to estimate the costs. Tobit regression analysis is used to determine factors that influence DE.

Field survey data show that farmers' expenditures on DE are low. This is inversely related to high incidence of ill health among farmers using pesticides.

The results of this study are useful, not only for Sri Lanka, but also for many countries in South Asia, Africa and Latin America in reducing the current high levels of direct exposure to pesticides among farmers and farm workers using hand sprayers. Farmers' exposure to pesticides is a major occupational health hazard in these countries.

In writing a paper to honour Professor Clem Tisdell, it is apt to focus attention on the environmental and human costs of commercial agricultural production, especially the Green Revolution technology in South Asia during the last few decades. This is an area where Professor Tisdell has done much research, amongst the multitude of other research interests he has pursued in his very illustrious career. Modern commercial agricultural practices involving chemical inputs such as fertilizers and pesticides have been associated with huge increases in food production never witnessed before and, in the case of cereal production (especially wheat) under Green Revolution technology, recorded spectacular growth. As statistics show, production and productivity have increased. However, the high chemical usage of fertilizers and pesticides to bring about these spectacular increases in food production is not without its problems. A visible parallel correlation between higher productivity, high chemical input use and environmental degradation and human health effects is evident in many countries where commercial agriculture is widespread. This paper discusses the environmental and health effects/costs arising from the high use of chemical inputs to increase production and productivity in South Asia, with a field study carried out in Sri Lanka to show the health costs arising from direct exposure to pesticides during pesticide handling and spraying on farms by small‐scale farmers.

The purpose of this paper is to demonstrate that the relatively new concept of sustainable finance, although very apt and timely, needs to address many major issues for it to be meaningful and if it is to achieve its desired objectives.

The study identifies some of the major issues that need to be clarified and addressed including: defining the kind of sustainability that is envisaged; examining issues relating to the use of high‐discount rates and its compatibility with the goals of sustainability; the case of excessive pollution due to adverse selection, moral hazard and lobbying; and specialisation and path dependent systems that are detrimental to future production.

The paper demonstrates why the concept of sustainable finance is timely and why it is necessary to take into account the potential major issues that need to be considered and adequately addressed.

The challenges that lie ahead are many, and the sooner they are addressed, the more credible and potent sustainable finance will be.

This paper discusses the major issues and examples of pollution and biodiversity degradation that need to be considered with sustainable finance. The paper also shows why economic growth without considering pollution impacts and path dependent systems is detrimental to future production, which violates the concept of sustainable finance.

Sustainable finance is a relatively new concept that is fast becoming important as financial investments are increasingly required to prove sustainability credentials. However, despite its increasing popularity many major issues need to be dealt with if this concept is to be truly meaningful and potent in achieving its objectives.

In this chapter the contingent valuation method is used to estimate the yearly value to an average farmer in Sri Lanka of avoiding direct exposure to pesticides and the resulting illnesses. The costs are shown to be high. The pesticide cost scenarios calculated from the contingent valuation bids for the entire country show that the costs run into millions of Sri Lankan rupees each year. The last section of the paper identifies the factors that influence the willingness to pay (WTP) to avoid direct exposure to pesticides and the resulting illnesses. The health policy implications stemming from the regression analysis are also discussed.