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- Title
ОЦІНКА ЕФЕКТИВНОСТІ ЗА ВИТРАТАМИ ТА ПРИБУТКОМ ЛІЗИНГОВИХ КОМПАНІЙ УКРАЇНИ НА ОСНОВІ SFA-МОДЕЛЕЙ.
- Authors
Кишакевич, Богдан; Максишко, Наталія; Іванов, Роман; Мігулка, Ольга
- Abstract
The article proposed a number of SFA (Stochastic Frontier Approach) cost and profit efficiency evaluation models, which were built on the basis of performance indicators of the largest Ukrainian leasing companies. Since the SFA models are sensitive to the choice of independent variables, the article proposed to use the average value of the obtained estimates based on the constructed SFA models when analyzing the efficiency of the leasing companies. This approach makes it possible to obtain a more comprehensive and complete assessment of efficiency, which takes into account many more aspects of the leasing company business. It has been argued that the main problem in applying the SFA approach with a larger number of independent variables to assess the efficiency of Ukrainian leasing companies is the lack of statistical data, as they have only recently begun to publish their financial statements for public access. The construction of SFA models requires the development of appropriate econometric models and an appropriate statistical sample. The total costs of leasing companies and their net profit were taken as dependent variables. Independent variables were selected from such indicators of the leasing company's activity as net income from product sales, other operating income, fixed assets, administrative expenses, other operating expenses, and long-term receivables. The presence of the effect of the inefficiency of Ukrainian leasing companies was checked and the type of function that best approximates the efficiency limit was determined. Testing of these hypotheses was done on the basis of a generalized likelihood ratio test at a 95% confidence interval for all models. The null hypotheses were rejected for all four constructed models, i.e., the translogarithmic function was used to approximate the efficiency frontier.
- Subjects
BUSINESS enterprises; LIKELIHOOD ratio tests; LEASE &; rental services; FINANCIAL statements; OPERATING costs
- Publication
Financial & Credit Activity: Problems of Theory & Practice, 2022, Vol 5, Issue 46, p195
- ISSN
2306-4994
- Publication type
Article
- DOI
10.55643/fcaptp.5.46.2022.3860