A DEA Resampling Past-Present-Future Comparative Analysis of the Food and Beverage Industry: The Case Study on Thailand vs. Vietnam

Abstract

The food and beverage industry plays a significant role in the economic development of developing and emerging countries in Asia through an immense contribution to the national income, employment, value-added inducement, and foreign exchange earnings. Among the developing countries in Asia, Thailand and Vietnam have recently experienced a significant growth in the industry due to their many advantages. However, the nascent stage of this industry was found to be lacking sustainable competitiveness in both countries. Therefore, this study aims to evaluate and forecast the performance efficiency of the food and beverage industry in Thailand and Vietnam to understand how efficient the food and beverage industry to these countries is and formulate suggestions to improve their productivity in accordance with the research findings. To achieve the research objectives, the resampling method in the data envelopment analysis is applied to measure and forecast the efficiency of 20 Vietnamese companies and 20 Thailand firms over the period of 2016 to 2023. The Malmquist productivity index is deployed to calculate the efficiency change over observed periods. The results reveal that Vietnam is found to have a higher efficiency than Thailand due to the outstanding performance of one company but have performed quite poorly due to low scores in technical and productivity change. The findings of this research can give useful information and practical suggestions to improve performance for inefficient companies as well as enhance competitiveness of the efficient companies trying to operate and reach global markets.