scholarly journals EFFICIENCY ANALYSIS OF THE BULGARIAN FORESTRY AND FOREST-BASED INDUSTRY: A DEA APPROACH

2019 ◽  
Vol 7 ◽  
Author(s):  
Nikolay Neykov ◽  
Emil Kitchoukov ◽  
Petar Antov ◽  
Viktor Savov
Keyword(s):  
Economic Efficiency ◽  
Efficiency Analysis ◽  
Economic Research ◽  
Data Envelopment ◽  
Economic Sectors ◽  
Relevant Issue ◽  
Current State ◽  
Small Countries ◽  
Dea Models ◽  
The Eu

The economic efficiency of forestry has long been a leading issue in the sector's economic research. The wide variety of policies, goals and models in forest management makes researching the factors of economic efficiency a constantly relevant issue. Since 1978 Data Envelopment Models have provided a comprehensive approach without following the particular assumptions for production function of forests. Data Envelopment Analysis (DEA) models are quite suitable to estimate the efficiency and determine the weaknesses of forests and forest-based industries with their current state and structural weaknesses. The current study estimates the relative efficiency of the Bulgarian forestry and forest-based industries comparing it to those in the EU. The methodology applied provides a specific approach for classifying the countries by the share of their sectoral GVA in comparison to the overall country GVA. The results confirm that the Bulgarian forestry and forest-based industries are efficient compared to most EU countries. The paper develops further the results that the efficiency varies based on the share of forestry and of forest-based industries in the country GVA. The results reveal that in countries where forestry is better involved than forest based industries, the efficiencies are higher. The study also suggests solutions for problems of small countries like Bulgaria in order to achieve better efficiency of their respective economic sectors.

Rationality, accounting and benchmarking water businesses

2018 ◽  
Vol 31 (3) ◽  
pp. 290-315 ◽  
Author(s):  
Nicholas Pawsey ◽  
Jayanath Ananda ◽  
Zahirul Hoque
Keyword(s):  
Economic Efficiency ◽  
Fair Value ◽  
Water Utilities ◽  
Future Research ◽  
Data Envelopment ◽  
Water Utility ◽  
Capital Input ◽  
Content Type ◽  
Dea Models ◽  
Future Work

Purpose The purpose of this paper is to explore the sensitivity of economic efficiency rankings of water businesses to the choice of alternative physical and accounting capital input measures. Design/methodology/approach Data envelopment analysis (DEA) was used to compute efficiency rankings for government-owned water businesses from the state of Victoria, Australia, over the period 2005/2006 through 2012/2013. Differences between DEA models when capital inputs were measured using either: statutory accounting values (historic cost and fair value), physical measures, or regulatory accounting values, were scrutinised. Findings Depending on the choice of capital input, significant variation in efficiency scores and the ranking of the top (worst) performing firms was observed. Research limitations/implications Future research may explore the generalisability of findings to a wider sample of water utilities globally. Future work can also consider the most reliable treatment of capital inputs in efficiency analysis. Practical implications Regulators should be cautious when using economic efficiency data in benchmarking exercises. A consistent approach to account for the capital stock is needed in the determination of price caps and designing incentives for poor performers. Originality/value DEA has been widely used to explore the role of ownership structure, firm size and regulation on water utility efficiency. This is the first study of its kind to explore the sensitivity of DEA to alternative physical and accounting capital input measures. This research also improves the conventional performance measurement in water utilities by using a bootstrap procedure to address the deterministic nature of the DEA approach.

scholarly journals Quantifying Electricity Supply Resilience of Countries with Robust Efficiency Analysis

Energies ◽  
2020 ◽  
Vol 13 (7) ◽  
pp. 1535 ◽  
Author(s):  
Patrick Gasser ◽  
Marco Cinelli ◽  
Anna Labijak ◽  
Matteo Spada ◽  
Peter Burgherr ◽  
...  
Keyword(s):  
Robustness Analysis ◽  
Energy Systems ◽  
Efficiency Analysis ◽  
Electricity Supply ◽  
Data Envelopment ◽  
Hybrid Framework ◽  
Dea Models ◽  
Overall Performance ◽  
Electricity Systems ◽  
Ccr Model

The interest in studying energy systems’ resilience is increasing due to a rising awareness of the importance of having a secure energy supply. This growing trend is a result of a series of recent disruptions, among others also affecting electricity systems. Therefore, it is of crucial importance for policymakers to determine whether their country has a resilient electricity supply. Starting from a set of 12 indicators, this paper uses data envelopment analysis (DEA) to comprehensively evaluate the electricity supply resilience of 140 countries worldwide. Two DEA models are applied: (1) the original ratio-based Charnes, Cooper, and Rhodes (CCR) model and (2) a novel hybrid framework for robust efficiency analysis incorporating linear programming and Monte Carlo simulations. Results show that the CCR model deems 31 countries as efficient and hence lacks the capability to differentiate them. Furthermore, the CCR model considers only the best weight vectors for each country, which are not necessarily representative of the overall performance of the countries. The robustness analysis explores these limitations and identifies South Korea, Singapore and Canada as the most resilient countries. Finally, country analyses are conducted, where Singapore’s and Japan’s performances and improvement potentials are discussed.

scholarly journals Data envelopment analysis in measuring the efficiency of volleyball teams in Primorsko-Goranska County

2020 ◽  
Vol 8 (1) ◽  
pp. 121-134
Author(s):  
Jelena Jardas Antonić ◽  
Kristina Kregar ◽  
Nenad Vretenar
Keyword(s):  
Data Envelopment Analysis ◽  
Efficiency Analysis ◽  
Efficiency Score ◽  
Financial Resources ◽  
Data Envelopment ◽  
Financial Factors ◽  
Measuring Efficiency ◽  
Dea Models ◽  
Sport Organisation ◽  
Ccr Model

Every sport organisation strives to evaluate its performance: its weaknesses and strengths. Measuring efficiency and sports are two interrelated concepts and it is not surprising that most of the research on sports is focused on analysing the efficiency of teams according to player techniques, attack and defence efficiency. However, there are very few studies based on the analysis of financial factors such as teams’ revenue and costs. In this paper two Data Envelopment Analysis (DEA) models were used to evaluate 16 young cadet volleyball teams in Primorsko-Goranska County based on two economic inputs. The paper aims to explain the importance of teams’ financial resources in achieving sports efficiency. To analyse the relative efficiency of teams, two frequently used models are employed, the Banker Charnes Cooper (BCC) and the Charnes Cooper Rhodes (CCR) model. In the end, a super efficiency analysis was conducted to make a distinction in efficiency scores between efficient units. Analyses showed that financial factors are not crucial factors for efficiency score and gave possibility to use obtained results and improve the performance of inefficient volleyball teams. The study was conducted on a sample of 16 teams through 4 inputs and 1 output collected during 2017/2018 season.

scholarly journals Is profitability a good proxy for efficiency? Evidence from the subsector of tour operators

2017 ◽  
Vol 17 (4) ◽  
pp. 425-440
Author(s):  
Veronika Hedija ◽  
Roman Fiala ◽  
Martina Kuncová
Keyword(s):  
Economic Efficiency ◽  
Correlation Coefficients ◽  
Efficiency Score ◽  
Data Envelopment ◽  
The Czech Republic ◽  
Dea Models ◽  
Good Proxy ◽  
Using Data ◽  
Almost All ◽  
Profitability Ratios

Abstract The goal of the paper is to evaluate the economic efficiency of tour operators in the Czech Republic in the period 2007-2014 using data envelopment analysis (DEA) models and prove the link between economic efficiency and profitability and to find out if profitability is a good proxy for economic efficiency. Data was exported from the database Albertina CZ Gold Edition. We calculated the efficiency score using CCR (Charnes, Cooper and Rhodes) and BCC (Banker, Charnes and Cooper) models based on 3 inputs and 1 output. In the years 2007 to 2010, the efficiency score of almost all the companies was higher than 0.5; however, in years since 2011, we revealed significant differences in the efficiency of individual firms and only about 40 percent of tour operators achieved an efficiency score higher than 0.5. Using Pearson and Spearman correlation coefficients, our findings show that, in the case of the Czech tour operator market, profitability ratios do not correspond with firm efficiency. Profitability ratios are not a good proxy for economic efficiency and should not be used as the only firm criterion of performance.

Double Frontier Two-Stage Fuzzy Data Envelopment Analysis

2020 ◽  
Vol 28 (01) ◽  
pp. 117-152 ◽  
Author(s):  
Alireza Amirteimoori ◽  
Hossein Azizi ◽  
Sohrab Kordrostami
Keyword(s):  
Decision Making ◽  
Data Envelopment Analysis ◽  
Efficiency Analysis ◽  
Programming Approach ◽  
Data Envelopment ◽  
Fuzzy Data ◽  
Insurance Company ◽  
Two Stage ◽  
Dea Models ◽  
Fuzzy Dea

Data envelopment analysis (DEA) is a mathematical programming approach with widespread applications in productivity and efficiency analysis. Compared with traditional DEA models, two-stage DEA models show the performance of each process and make available more information for decision making. In an article by Kao and Liu, models were proposed for combining a two-stage process to achieve overall fuzzy efficiency measures. Their method follows the simple geometric average approach and uses the product of two efficiencies. The present article applies a different angle for efficiency analysis in the two-stage fuzzy DEA. We suggest that the overall efficiency score of a decision-making unit (DMU) is defined as total weight of stage efficiencies, not as the simple product of their efficiency. Moreover, the proposed fuzzy DEA models are different from the model by Kao and Liu for fuzzy data in that our models are linear without the need for additional changes in variables and use the same set of constraints to measure the efficiency of DMUs with fuzzy input and output data. While the models by Kao and Liu are a nonlinear optimization problem that need additional changes in variables, and use different sets of constraints to measure fuzzy efficiencies. Additionally, our proposed approach evaluates the performance of DMUs from both optimistic and pessimistic viewpoints. Finally, using the proposed approach, the Taiwanese non-life insurance company problem will be investigated.

An Evaluation and Efficiency Analysis of Railways Safety

2019 ◽  
Vol 8 (1) ◽  
pp. 1-16
Author(s):  
Osman Ghanem ◽  
Li Xuemei
Keyword(s):  
Data Envelopment Analysis ◽  
Efficiency Analysis ◽  
Operating Efficiency ◽  
Data Envelopment Analysis Model ◽  
Data Envelopment ◽  
Analysis Model ◽  
Eu Countries ◽  
Rail Industry ◽  
The Eu

The rail industry is faced with rising competitive and cost pressures that call for considerable improvements in consistency, operating efficiency, and rail safety. In this article, Turkey's rail safety was evaluated by using a data envelopment analysis model with CRS (CCR), VRS (BCC) analysis in comparison to the EU countries. A section of input‐oriented analyses was performed, and efficiency scores were ranked in two different ways to verify the different rail parameters with the aim of minimizing the number of rail accidents and the number of fatalities in accidents. The study concluded that Turkey is more capable than the EU countries in terms of exploiting its railway indicators.

scholarly journals The Effect of the Launch of Bitcoin Futures on the Cryptocurrency Market: An Economic Efficiency Approach

Mathematics ◽  
2021 ◽  
Vol 9 (4) ◽  
pp. 413
Author(s):  
David Vidal-Tomás ◽  
Ana M. Ibáñez ◽  
José E. Farinós
Keyword(s):  
Data Envelopment Analysis ◽  
Economic Efficiency ◽  
Data Envelopment ◽  
Trade Off ◽  
Risk Return ◽  
Malmquist Indexes

We analyze the economic efficiency of the cryptocurrency market after the launch of Bitcoin futures by means of the Data Envelopment Analysis and Malmquist Indexes. Our results show that the introduction of Bitcoin futures did not affect the economic efficiency of the cryptocurrency market. However, we observe that Bitcoin obtained the highest risk-return trade-off due to its liquidity compared to the rest of cryptocurrencies. Therefore, our paper underlines the support of investors on Bitcoin to the detriment of the rest of cryptocurrencies.

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