An Investigation into the Notion of “Efficiency”

Aidar Puryaev ()
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Aidar Puryaev: Kazan Federal University

Chapter Chapter 13 in Advances in Panel Data Analysis in Applied Economic Research, 2018, pp 175-187 from Springer

Abstract: Abstract In this work we make the research concerning the subject of defining the essence of the concepts “efficiency” and “efficiency of investment project.” We present and summarize the achieved result on the problem of evaluating the efficiency of investment projects before the carrying special survey. The research technique is the analysis of existing definitions, techniques, criteria, and parameters of the effectiveness evaluation (literary review). We analyzed a number of the most quoted sources from the Scopus database, and articles have been recently published and indexed in Scopus. Based on the analysis, we reveal the essence of the concept “efficiency,” being defined in the articles. As a result, the signs and definition of the “efficiency” concept are refined. Also the work helps to observe the tendency in the process of evaluating of investment projects efficiency which is realized in solving of an optimization problem simultaneously taking into consideration noneconomic and economic parameters. It is established that the criterion “energy efficiency,” as a special case of an economic criterion, is more relevant and used in the evaluation of investment projects.

Keywords: Efficiency; Efficiency of investment project; Assessment efficiency; Energy efficiency (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-70055-7_13

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DOI: 10.1007/978-3-319-70055-7_13

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