COST EFFICIENCY OF AGROINDUSTRIAL COMPANIES IN VOJVODINA: DEA APPROACH

Vunjak Nenad () and Davidovic Milivoje ()
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Vunjak Nenad: University of Novi Sad, Faculty of Economics in Subotica, Republic of Serbia
Davidovic Milivoje: University of Novi Sad, Faculty of Economics in Subotica, Republic of Serbia

Interdisciplinary Management Research, 2014, vol. 10, 369-376

Abstract: The aim of this study is to assess the cost efficiency of 25 agro-industrial companies in Vojvodina. The analysis covers the period from 2010 to 2012, and the efficiency of the companies is estimated using the non-parametric DEA techniques. Data Envelopment Analysis (DEA) is a linear programming technique that estimates technical efficiency using the input-output model. This paper will apply an input oriented model with (a) constant returns to scale (CCR model), (b) variable returns to scale (BCC model). Results of CCR and BCC models indicate that the agro-industrial sector in Vojvodina increased the average efficiency score (from 80.45% to 86.97% (CCR) and from 89.37% to 90.74% (BCC)). Also, researc indicates that the introduction of bankruptcy proceedings coincided with improving the efficiency scores and ranking of some companies.

Keywords: cost efficiency; agro-industrial companies; DEA approach; BCC model; CCR model (search for similar items in EconPapers)
JEL-codes: D24 L16 (search for similar items in EconPapers)
Date: 2014
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