This study applies a stochastic frontier model to examine the relationship between firm size and efficiency using a novel approach. The first novelty is that this study examines large and small firms separately to allow for heterogeneity between firm group sizes in terms of measuring the size-efficiency relationship. The second is that we use a modified frontier model which explicitly includes a family firm variable when measuring firm efficiency. Empirical results reveal that firms are in fact heterogeneous, with small- and medium-sized enterprises (SMEs) exhibiting a U-shaped scale efficiency curve, while large enterprises (LE) exhibit an efficiency curve which is positive and linear. Robust results also confirm that family firms are relatively more efficient than non-family firms. In addition, while controlling for family firms does not appear to change the firm’s size-efficiency dynamics, failure to control for family firms leads to a bias in characterizing the nature of the firm’s production returns to scale.

本研究采用随机前沿模型，以一种新颖的方法检验企业规模与效率之间的关系。第一个新颖之处在于，本研究分别考察了大型和小型企业，以在衡量规模-效率关系方面考虑到企业集团规模之间的异质性。第二个是我们使用修改后的前沿模型，该模型在衡量企业效率时明确包括家族企业变量。实证结果表明，企业实际上是异质的，中小企业（SME）呈现出 U 型规模效率曲线，而大型企业（LE）则呈现出正向线性效率曲线。稳健的结果还证实，家族企业比非家族企业相对更有效率。此外，