Applying Meta-Frontier Approaches to Profitability Estimation: In Case of the Effects of Official Independent Directors

Table 3

Estimation for pool-SFA and QP methods.

Variable	Pool-SFA		QP model
	Estimated value	Standard error	Estimated value	Standard error
Constant term	2.516	0.791	7.340	5.376
ln(L)	3.789	1.473	3.330	1.912
ln(K)	0.005	0.519	-2.272	0.866
ln(L) × ln(K)	2.516	0.791	7.340	5.376

Note. (1) Estimated standard errors of QP are estimated by using bootstrapping. (2) The pool-SFA model does not list the estimated value of and .