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Technical efficiency analysis of oil companies in the Republic of Serbia

Author

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  • Snežana Radukić
  • Milan Veselinović
  • Ivana Marjanović

Abstract

The subject of this paper is the assessment of the efficiency of oil companies operating in the Republic of Serbia. This paper presents the possibilities of applying non-parametric methods in researching the efficiency of oil companies in the Serbian market. In addition to the standard variables for measuring technical efficiency, the market share should be taken into account, because the oil market is an example of an imperfect competition market. By applying the quantitative-analytical method (Data Envelopment Analysis), obtained results show the development of the efficiency of oil companies in the relevant market, and indicate that the efficiency of oil companies improved during the analysed period. However, the results also indicate that there is still a problem of misallocation of resources. The reasons for this outcome are interesting and debatable for this industrial area.

Suggested Citation

  • Snežana Radukić & Milan Veselinović & Ivana Marjanović, 2023. "Technical efficiency analysis of oil companies in the Republic of Serbia," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 36(1), pages 2180051-218, December.
    • Handle: RePEc:taf:reroxx:v:36:y:2023:i:1:p:2180051
    DOI: 10.1080/1331677X.2023.2180051
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