This study develops models for measuring firm performance using both efficiency and productivity growth. To understand the state of agricultural performance among transition countries, this study proposes two models to investigate magnitude and direction of their agricultural performance. The first model aims to conduct intercountry analysis of agricultural productivity growth in transition countries in Asia and Europe. This paper pays particular attention to the magnitude and direction of productivity growth over different stages of their market reforms. The paper adopts a nonparametric Malmquist index approach using an output distance function to measure productivity growth and decompose it into its associated components. The empirical analysis is performed using the most recent FAO data set of 35 transition countries in Asia and Europe over the period of 1979-2004. The paper shows that decomposition analysis of productivity growth differs considerably at different stages of the transition period. This study presents supporting evidence that serious improvements in performance and efficiency, as well as continued technology transfer and adoption are required for transition economies to meet the demand for food and anticipated increases in world population. A comprehensive picture about the agricultural performance of the transition countries has somehow been missing in the literature. This study fills this gap by analyzing the productivity in these transition countries. The second model aims to understand the state of adjustment process and dynamic structure in Polish agriculture. A dynamic cost frontier model using the shadow cost approach is formulated to decompose cost efficiency into allocative and technical efficiencies. The dynamic cost efficiency model is developed into a more general context with a multiple quasi-fixed factor case. The model is implemented empirically using a panel data set of 1,143 Polish farms over the period 2004 to 2007. Due to the regional disparities and a wide variety of farm specialization, farms are categorized into two regions and five types of farm production specialization. The estimation results confirm our observation that adjustment is rather sluggish implying that adjustment cost are considerably high. It takes up to 30 years until Polish farmers reach their optimal level of capital and land input. Allocative and technical efficiency differ widely across regions. Moreover, efficiency is rather stable over time and among farm specialisations. However, their results indicate that the regions characterized by the larger farms perform slightly better.