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EN
This paper estimates the efficiency of Czech commercial banks during the period 2001 to 2011. We applied Dynamic Data Envelopment Analysis (DEA) to data from Czech commercial banks. The DEA measures the relative efficiency of a homogeneous set of decision-making units (DMUs) in their use of multiple inputs to produce multiple outputs. Dynamic Data Envelopment Analysis is a new approach which estimates the performance of a group of DMUs during several periods of time. The results of Dynamic DEA models showed that the average efficiency computed under the assumption of constant returns to scale reached a value of 86.7% and that the average efficiency estimated under the assumption of variable returns to scale was 95.7%. Efficiency slightly increased in the period analysed. The result of scale efficiency found that the main source of inefficiency is the inaccurate size of the biggest banks and also the excess client deposits managed by Czech banks.
EN
Data Envelopment Analysis (DEA) is a decision making tool based on linear programming for measuring the relative efficiency of a set of comparable units. Besides the identification of relatively efficient and inefficient units, DEA identifies the sources and level of inefficiency for each of the inputs and outputs. This paper is a survey of the basic DEA models. A comparison of DEA models is given. The effect of model orientation (input or output) on the efficiency frontier and the effect of the convexity requirements on returns to scale are examined. The paper also explains how DEA models can be used to assess efficiency.
EN
This paper considers some efficient classes of estimators for the estimation of population mean using known population proportion. The usual mean estimator, classical ratio, and regression estimators suggested by Naik and Gupta (1996) and Abd-Elfattah et al. (2010) estimators are identified as the members of the suggested class of estimators. The expressions of bias and mean square errors are derived up to first-order approximation. The proposed estimators were put to test against various other competing estimators till date. It has been found both theoretically and empirically that the suggested classes of estimators dominate the existing estimators.
EN
Aim/purpose – The aim of this paper is to evaluate the efficiency of an investing in investment funds with different risk levels in times of a future life expectancy increase. For this purpose, it was analysed how future prices of the investment funds’ entities behave, depending on the window function and the age of the investors, in particular people of retirement age, for whom an investment income may be a supplementary way of raising additional capital. Design/methodology/approach – Based on the historical data of the funds chosen from the different risk groups, a simulation of their price behaviour in the window function was carried out covering investor’s further life expectancy. Then, based on the result, the distribution of prices was analysed and the efficiency of investing in investment funds according to risk exposure was evaluated. Findings – According to the conducted analyses, the funds with the lowest efficiency were share funds. The best funds, in terms of efficiency, were bond and money funds. Research implications/limitations – The study was conducted on a limited number of funds, but this analysis can help take investment decisions. Originality/value/contribution – In this study, the investment in investment funds is treated as a long-term project which expires after 25-30 years, and therefore it may be problematic to use standard methods of evaluation for the purpose of this paper. As a result, the NPV (Net Present Value) method was applied as a measure of the investment’s efficiency. In the literature, this approach to the evaluation of investment funds is unique.
PL
Głównym celem pracy była ocena efektywności ekonomicznej zbiornika Wilkówka zlokalizowanego w gminie Wilkowice na terenie województwa śląskiego. Przeprowadzono analizę efektywności ekonomicznej inwestycji. Zastosowano metodę AKK (CBA), która składała się z identyfikacji i waloryzacji efektów ekonomicznych związanych z budową i eksploatacją zbiornika. Korzystając z prostych wskaźników, takich jak: czas i okres zwrotu inwestycji oraz wskaźników dyskontowych NPV, wyznaczono efektywność ekonomiczną. Realizacja przedmiotowej inwestycji jest uzasadniona ekonomicznie tylko wtedy, jeżeli rozważa się wszystkie efekty generowane przez zbiornik. Należy mieć na uwadze, że obiekty infrastrukturalne cechują się długowiecznością, więc wyliczony długi okres zwrotu, 27 lat, jest akceptowalny. Pracę zakończono wnioskami.
EN
The main objective of this article is evaluation of effectiveness of small water reservoir Wilkówka. The main subject of study was man-made small water reservoir located in Silesia region. Based on this study, analysis of economic efficiency was made. The cost benefit analysis (CBA) was used, relaying on identification and evaluation of economic effects related with exploitation of this water reservoir Wilkówka. Economical effectiveness was calculated based on time and rate of return as well as NPV indicator.
EN
This paper examines the efficiency and public transport accessibility of indirect (devolved) state administration performed by municipalities with extended powers (hereinafter MEPs) in the Czech Republic. Our aim is to evaluate the efficiency of the revenues made by municipalities with extended powers, through performing powers delegated to them by the state administration, and those municipalities’ public transport accessibility as of 31 December, 2014. The rate of efficiency is tested on an output-oriented Free Disposable Hull model. One input variable is selected - the operating expenses of the municipal offices recalculated per inhabitant of the municipality’s administrative district - and two output variables are selected: contribution to the performance of state administration, recalculated per inhabitant of the municipality’s administrative district, and revenues from administrative fees per inhabitant of the municipality’s administrative district. The municipality’s offices’ transport accessibility is evaluated via network analysis using ArcGIS software. The article investigates the hypothesis that public administration deconcentration practices logically result in higher security costs and therefore inefficiency. The results reveal that only 66 of the country’s 205 MEPs are efficient and that operating expenses and state contributions for the performance of state administrative tasks play a significant role in these results. Efficiency is less significantly influenced by administrative fee revenues. Public transport accessibility is analyzed for two time intervals - 6:00 to 8:00 am and 1:00 to 2:00 pm - on Tuesdays. The degree of accessibility is defined using a six-point scale of accessibility. The results show that the best accessibility is in the morning hours, when the offices are accessible for 68.8% of the population aged 15+ in the Czech Republic; the worst accessibility is in the afternoon hours when only 2% of the population aged 15+ can access the offices.
EN
Human capital plays an important role in the development of every company. Big enterprises have a Human Resources Department which conducts analyses and measurements of human capital. In Poland over 90% of the total number of companies is made up of small and middle- size enterprises. The aim of the research is to determine reasons why small Polish companies take an interest in the measurement and analysis of human capital as well as to discover the causes of their limited use of human capital measurement. The results confirmed that limited measurement and analysis of human capital efficiency in small companies results from the lack of additional information; apart from this it results from the binding legal regulations as well as the lack of employees who possess the knowledge necessary for conducting such analyses. Despite barriers and difficulties in human capital measurement, small companies appreciate employees and their qualification, not treating them only as a necessary cost of their doing business.
EN
Water scarcity and land degradation increases led to a sharp rise in input resource's costs. These developments make it increasingly difficult for agricultural farms to produce according to the demand for food and other commodities, especially owing a rapid population growth. The present study aims to focus on scarce resource use in the agricultural production of the Zarafshan valley by means of the efficiency analysis. A DEA model is estimated to investigate the farm level efficiency levels with respect to the use of the limited resources available to the farmers. By the application of linear programming methods a 'best practice frontier is estimated', classifying farms on the frontier as efficient and others as inefficient with respect to different scales. Technical and allocative efficiencies are calculated relative to the frontier. Results shows input resources are not used efficiently and a great majority of farms could effectively reduce considerable amounts of input use by still producing the same output.
EN
The management of stable development of business entities requires the improvement of methodological approaches regarding their efficiency assessment. We think that the efficiency assessment should conduct a comparative analysis with other economic entities regarding the effectiveness of using existing amount of material, financial and labor resources. For a comparative assessment of the operational efficiency of Ukrainian enterprises authors suggested the method of frontier stochastic analysis. The essence of this approach is to build a standard enterprise with the highest efficiency indicators and calculation of the efficiency coefficients. According to the results of statistical hypotheses testing it is determined that the translog function with the truncated distribution of a random component best describes the investigated functional dependences. According to the results of modeling the efficiency coefficients for every enterprise and period of investigation were received and on the basis of them the ranking of enterprises efficiency was made.
EN
The study investigates the differences in technical, pure technical, and scale efficiencies of domestic and foreign banks in Algeria over the period of 2000–2012. The study uses annual data of 10 foreign banks and 05 domestic banks operated in Algeria. The input-oriented Data Envelopment Analysis model is used to measure the banks’ efficiency score. In addition, a set of parametric and non-parametric tests are used for investigating the differences in efficiency between foreign and domestic banks. The findings reveal that the banks in Algeria could improve their technical efficiency by 23%. In addition, it seems that banks in Algeria suffer from the scale inefficiency. On the other hand, the foreign banks are more technically efficient than domestic banks. The superiority of foreign banks in technical efficiency is due to their superiority in the scale efficiency.
EN
Nowadays, energy companies operate in a highly competitive environment. To maintain the leader position, as a reaction to various changes energy companies must take appropriate steps in a timely manner. Correct assessment of the situation ensures implementation of adequate measures. The situation can be assessed correctly by using a complex approach and/or analysing it according to the specific circumstances. The complex approach also envisages designing of an appropriate model, which studies the impact of changes on the research object, while dealing with the object within a system and as part of the system. The article gives a theoretical background of the system dynamics model in order to evaluate the impact of integration of renewable energy sources (RES) on the operational efficiency of energy supply facilities (power and heat supply) on the national and regional levels, as well as provides the first modelling results.
EN
In this article, the authors present a method of measuring the efficiency of use of national and European public funds for promoting action in companies, including the process from a draft idea to the placement of a product or service on market. The method of measuring has been done with a matrix system, through which we have shown the distribution of public funds between service brokers that offer services for the raising of the abilities to the companies. The matrix system includes the impact matrix of service brokers on innovation enablers. Based on the assembling matrix, we have composed efficiency measures, which can serve policyholders in guiding and controlling public funds.
EN
The pursuit of ex-ante efficiency in bankruptcy law has been widely discussed in recent law and economics literature. However, the exact incentive mechanisms inducing the optimal commencement of bankruptcy proceedings have generally been exempted from the current scholarly debate. Using the law and economics tools and comparative analysis, this paper seeks to identify insolvency-specific optimal incentive mechanisms, while using the general theory on carrots and sticks in legal regulations. The paper suggests the employment of mixed-sticks-and-carrots incentive mechanisms for managers’ prompt proposals of insolvency proceedings as an optimal regulatory response. Moreover, the article provides comparative evidence that exclusive use of sticks or carrots in French, German, US, English, and Slovenian legal systems results in sub-optimal initiation of insolvency proceedings and may also induce adverse effects on prompt initiation.
PL
Prawo nakłada na podmioty sektora publicznego obowiązek wywiązywania się z wielu zadań własnych. Do głównych problemów z ich realizacją należy niewystarczający poziom środków budżetowych. W ostatnich dekadach w Europie i na świecie, jak również w Polsce, popularność zdobywa realizacja przedsięwzięć publicznych w formule partnerstwa publiczno-prywatnego. Jednak każdorazowo wybór tej formy realizacji zadań publicznych powinien być poprzedzony zbadaniem efektywności projektu. Celem artykułu jest wskazanie jednego z podstawowych sposobów pomiaru efektywności przedsięwzięć PPP – komparatorów finansowych. W artykule wykorzystano dorobek polskiej i zagranicznej literatury z zakresu partnerstwa publiczno-prywatnego uzupełniony własnymi rozważaniami i doświadczeniem w związku z doradztwem przy realizacji tego typu przedsięwzięć.
EN
The law requires public sector entities obliged to fulfill a number of its own tasks. The major problems with their implementation should be an insufficient level of budgetary resources. In the last decades in Europe and in the world, as well as in Poland, gaining popularity implementation of public projects in the formula of public-private partnership. But in each case the choice of this form of public tasks should be preceded by examining the effectiveness of the project. The aim of this article is to indicate one of the basic ways of measuring the effectiveness of PPP projects – financial comparators. The article uses the achievements of Polish and foreign literature in the field of publicprivate partnership supplemented its own considerations and experience in relation to the advice in the implementation of such projects.
PL
Artykuł porusza problem efektywności aukcji internetowych. Tradycyjne aukcje charakteryzowały się nieefektywnością, ale w dobie rozwoju Internetu i powszechności dostępu do niego powstaje pytanie, czy aukcji internetowych nie należy uznać za efektywne. Nie istnieje bariera geograficzna dla licytujących, którzy posiadają także dostęp do wszelkiego rodzaju informacji dzięki współczesnej technologii. W artykule zweryfikowano postawioną hipotezę na podstawie danych pochodzących z największego serwisu aukcji internetowych w Polsce – Allegro.pl. Do badań wykorzystano wyniki aukcji dla monet kolekcjonerskich.
EN
In the article there is a discussion about the efficiency of online auctions. Traditional auctions were characterized by inefficiency but nowadays, in a world of Internet and development of information technology the questions about the efficiency of online auctions comes back. There is no geographical barrier and the growth of flow and availability of information is wide thanks to the access to Internet. In this article the hypothesis was verified with the use of data coming from the biggest Polish service Allegro. pl. The results of auctions of old coins were examined.
PL
Niniejszy artykuł dotyczy szeroko pojętej problematyki efektywności funkcjonowania administracji publicznej. Przedmiotem przeprowadzonych badań własnych była efektywność funkcjonowania urzędów marszałkowskich w Polsce w latach 2005-2012. Celem badań było określenie stopnia zróżnicowania efektywności ich funkcjonowania oraz wskazanie potencjalnych przyczyn tego zjawiska. Pomiaru efektywności dokonano w ujęciu nieparametrycznym z zastosowaniem metody DEA. Opracowano także ranking urzędów marszałkowskich pod względem efektywności ich funkcjonowania. Na podstawie przeprowadzonej analizy optymalizacyjnej określono natomiast różnice między wielkościami faktycznie ponoszonych kosztów utrzymania przez poszczególne urzędy marszałkowskie a optymalnym ich poziomem zapewniającym efektywność funkcjonowania przy założeniu stałych efektów. Wyniki przeprowadzonych badań stanowiły podstawę do sformułowania rekomendacji dotyczących podjęcia niezbędnych działań służących poprawie efektywności funkcjonowania urzędów marszałkowskic.
EN
The article deals with the broadly understood issue of the effectiveness of public administration. The subject of the conducted research was the effectiveness of marshal’s offices in Poland in 2005-2012. The aim of the research was to determine the degree of diversification of the effectiveness of their functioning and to indicate the potential causes of this situation. The measurement of effectiveness was non-parametric and it was conducted using the DEA method. On the basis of the identified differences in effectiveness, a ranking of marshal’s offices was compiled given their effectiveness. Based on the conducted optimization analysis, the differences between the levels of the marshal’s offices actually incurred maintenance costs and their optimal levels ensuring operational efficiency under the assumption of constant effects were determined. The results of the conducted research were fundamental to formulating recommendations regarding necessary actions that have to be taken in order to improve the effectiveness of the marshal’s offices.
PL
Celem artykułu jest ocena działalności liceów wrocławskich na potrzeby procesu optymalizacji alokacji zasobów i polepszenia jakości kształcenia. Obie zasady skuteczności (effectiveness) kształcenia i efektywności (effeciency) decydują o sprawności działalności instytucji [por. Lubińska (red.), 2009]. Ocena powinna mieć wpływ na odkrywanie poziomu jakości kształcenia, rozumianego zarówno jako proces nauczania, jak i uczenia się, a szczególnie na zwiększenie wydajności i skuteczności działań instytucji, rozumianych jako poprawa potencjału wiedzy i umiejętności uczniów, a w wymiarze globalnym poprawa dobrobytu społecznego.
EN
The aim of this article is to assess the activities of secondary schools Wroclaw for the purposes of optimizing the allocation of resources and improve the quality of education. Both the principle of effectiveness (effectiveness) and efficiency of education (effeciency) decide about the efficiency of the institution [see: Lubińska T. (ed.), 2009]. The assessment should have an impact on discovering the quality of education, understood both as a process of teaching and learning, and especially to increase the efficiency and effectiveness of institutions, understood as strengthening the potential of knowledge and skills of the students and the global improvement of social welfare.
PL
Mimo iż mezoekonomiczna perspektywa badawcza nabiera coraz większego znaczenia, a analizy poziomu branżowego są podejmowane coraz chętniej, ujęcie to nadal stanowi mało poznany aspekt. W niniejszym artykule podjęto kwestię zależności pomiędzy poziomem (i wymiarami) internacjonalizacji branży a jej finansową efektywnością. Badania empiryczne przeprowadzono na próbie 441 branż polskiej gospodarki.
EN
Although research based on the mesoeconomic perspective is gaining momentum and the industry aspects are brought to light, it is still a relatively underresearched area. The following article describes the dependencies between industry internationalization degree (and its dimensions) and industry financial efficiency. The empirical study is based on 441 production and non-production industries in Poland.
PL
Celem badania jest rozpoznanie, jakie znaczenie dla efektywności zakładów ubezpieczeń majątkowych ma ich forma prawna. Analizą objęto 29 zakładów działających w Polsce w latach 2002-2017, w tym 21 spółek akcyjnych i 8 towarzystw ubezpieczeń wzajemnych (TUW). Efektywność oszacowano parametryczną metodą SFA. Badania wykazały, że zakłady funkcjonujące w formie spółek akcyjnych były w całym analizowanym okresie efektywniejsze niż TUW, średnio 51,2% versus 42,5%, przy czym różnica ta miała tendencję spadkową. Na efektywność obu rodzajów zakładów pozytywnie wpływał wzrost ich rozmiarów działania, mierzonego aktywami i składką przypisaną brutto. Oba rodzaje zakładów poprawiały swą efektywność w środowisku niskiej inflacji i niskiej dynamiki wzrostu PKB, a także wyższej konkurencji w sektorze. Redukcja kosztów działania w relacji do pozyskiwanej składki miała dodatni wpływ na efektywność spółek akcyjnych.
EN
The goal of the study is to recognize the impact of the legal form of the property insurance company on its efficiency. The analysis covered 29 firms operating in Poland in 2002-2017, including 21 joint-stock companies and 8 mutual insurance companies (TUW). Efficiency was estimated using the parametric SFA method. The study has shown that over the entire analyzed period firms operating in the form of joint-stock companies were more effective than TUW, an average of 51.2% versus 42.5%. The effectiveness of both types of firms was positively influenced by the increase in their size, as measured by the gross written premium and assets. Both types of firms improved their efficiency in the environment of low inflation rate and low GDP growth rate as well as higher competition in the sector. The reduction of operating costs in relation to the collected premium had a positive impact on the efficiency of joint-stock companies.
PL
Celem prezentowanego artykułu jest pogłębiona analiza relacji występującej pomiędzy wolnością gospodarczą a efektywnością funkcjonowania gospodarek rozwijających się; w celach porównawczych analizie poddano także kraje wysokorozwinięte (łącznie 115 państw). Analizy prowadzone na podstawie testów przyczynowości w sensie Grangera, oddzielnie dla grupy krajów rozwiniętych i rozwijających się, wykazały, że pomiędzy wolnością gospodarczą a przyjętymi miarami efektywności występuje w obu grupach państw pozytywny oraz statystycznie istotny związek, przy czym jest on silniejszy wśród krajów rozwijających się. Wyniki analiz przeprowadzone dla poszczególnych krajów wykazały jednak znacznie większe zróżnicowanie w zakresie analizowanej relacji.
EN
The objective of a paper is to conduct a deep analysis a relation between economic freedom and economic performance of developing as well as develop countries (a total of 115 countries). The conducted analysis – performed separately for panel group comprised of developing and developed countries – confirmed the existence of statistically significant relation in Granger sense between economic freedom and efficiency both for developing and developed countries. The results of the analysis conducted at the level of particular countries proved that the relation between economic freedom and efficiency is much more ambiguous.
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