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- Title
TÜRKİYE'DE FAALİYET GÖSTEREN BİREYSEL EMEKLİLİK ŞİRKETLERİNİN ETKİNLİĞİ.
- Authors
KÜÇÜKKIRALI, Zeynep; AYDIN, Üzeyir
- Abstract
The aim of this article is to analyze the efficiency levels and the efficiency change trends of the private pension companies in Turkey, by using Data Envelopment Analysis (DEA) method. Methodology: The six-year data set of 15 companies is used for the period of 2014-2019 in the study. The efficiencies are analyzed in two different approaches: operating efficiency and fund management efficiency. For the operating efficiency, the number of employees and the total assets constitutes the inputs, while the received contributions and the number of participants constitutes the outputs. For the fund management efficiency, a three-variable model is established, in which the received contributions and fund operating expenses are taken as inputs and the total asset value of funds as outputs. Then, Malmquist Index (MI) based on DEA is calculated to determine the efficiency change trends of the companies. Findings: The average operating efficiency is calculated as 64%, so the efficiency has a downtrend. The average fund management efficiency is calculated as 94%, so it has an uptrend. Originality: Unlike the other studies in the literature, this study analyzes efficiency with two different approaches in terms of operating and fund management, it also determines the change trends of efficiency levels between periods with DEA-based MI. In addition, the study reveals the current situation of the private pension sector in Turkey in terms of evaluating the performance of companies between 2014 and 2019.
- Publication
Verimlilik Dergisi, 2022, Issue 2, p289
- ISSN
1013-1388
- Publication type
Article
- DOI
10.51551/verimlilik.940655