A comparative evaluation of operational efficiency of wood industry using data envelopment analysis and Malmquist productivity index : the cases of Slovenia and Croatia

Kropivšek, Jože (author), Perić, Ivana (author), Pirc, Andreja (author), Grošelj, Petra (author), Motik, Darko (author), Jošt, Matej (author)

The wood industry, as a traditional sector, represents a very important part of the economy in terms of ensuring a sustainable development of society and transition to a low-carbon society in both countries studied, Slovenia and Croatia. For its further development, it is crucial to know the current position of the industry. The best way to achieve this is an analysis of financial data and international comparative evaluation of its operational efficiency. The aim of the research is to compare the relative efficiency of the wood industry using Data Envelopment Analysis (DEA) and the Malmquist Productivity Index (MI), focusing on the Slovenian and Croatian wood industry sectors (C16 and C31) for a recent five-year period (from 2013-2017). With this purpose, the combined measure DEA/MI was applied. The analysis includes only the highest rated companies with more than fi ve employees, divided into 12 clusters regarding the company size. As a result, it was established that clusters CRO-C31-micro, CRO-C16-micro and SI-C16-larger have the highest operational efficiency, due to the effects of different financial indicators, especially activity and liquidity ratios. In general, within the grouped clusters regarding country and subsector, groups SI-C16 and CRO-C31 achieve the highest values for the average of weighted score of efficiency, while CRO-C16 achieves the lowest values.

• Language: English
• Keywords: financial analysis, financial ratio, wood industry, Slovenia, Croatia, DEA, Malmquist index
• Work type: Article
• Typology: 1.01 - Original Scientific Article
• Organization: BF - Biotechnical Faculty
• Publication status: Published
• Publication version: Version of Record
• Year: 2019
• Number of pages: Str. 287-298
• Numbering: Vol. 70, iss. 3
• PID: 20.500.12556/RUL-114183
• UDC: 630*7
• ISSN on article: 0012-6772
• DOI: 10.5552/drvind.2019.1937
• COBISS.SI-ID: 3118473

Copyright

Podatek o licenci CC BY 4.0 je naveden na spletnih straneh nadrejene revije pri založniku (https://www.drvnaindustrija.com/about/open-access/) in v zapisu za nadrejeno revijo na portalu Hrčak (https://hrcak.srce.hr/en/drvnaindustrija). (Datum opombe: 21. 5. 2025)

Note

KLJUČNE BESEDE: finančna analiza, finančno razmerje, lesnopredelovalna industrija, Slovenija, Hrvaška, DEA, Malmquistov indeks // V datoteki članka je navedena napačna številka za letnik oz. volumen (69).

• Publication date in RUL: 19.02.2020

Record is a part of a journal

• Title: Drvna industrija
• Shortened title: Drv. ind.
• Publisher: Sveučilište u Zagrebu, Fakultet šumarstva i drvne tehnologije = University of Zagreb, Faculty of Forestry and Wood Technology, Hrvatska komora inženjera šumarstva i drvne tehnologije = Croatian Chamber of Forestry and Wood Technology Engineers
• ISSN: 0012-6772
• COBISS.SI-ID: 2858754

Licences

• License: CC BY 4.0, Creative Commons Attribution 4.0 International
• Link: http://creativecommons.org/licenses/by/4.0/
• Description: This is the standard Creative Commons license that gives others maximum freedom to do what they want with the work as long as they credit the author.

Secondary language

• Language: Croatian
• Title: Usporedna procjena operativne učinkovitosti drvne industrije Slovenije i Hrvatske primjenom analize omeđivanja podataka i Malmquistova indeksa produktivnosti

Abstract

Drvna industrija Sloveniji i Hrvatskoj tradicionalan je gospodarski sektor tih zemalja i vrlo važan dio gospodarstva u smislu osiguranja održivog razvoja društva i prijelaza na društvo s niskim udjelom ugljika. Za daljnji razvoj drvnoga sektora bitno je poznavati trenutačni položaj industrije, a najbolji način za to je analiza financijskih podataka i internacionalna usporedna procjena industrijske operativne učinkovitosti. Cilj istraživanja bio je usporediti relativnu učinkovitost drvne industrije uz pomoć analize omeđivanja podataka (DEA) i Malmquistova indeksa produktivnosti (MI), s naglaskom na slovenski i hrvatski drvnoindustrijski sektor (C16 I C 31) tijekom posljednjih pet godina (2013. – 2017.). Za tu je svrhu primijenjena kombinirana mjera DEA/MI. Analizom su obuhvaćene samo najbolje ocijenjene tvrtke s više od pet zaposlenih, koje su s obzirom na njihovu veličinu podijeljene na 12 klastera. Utvrđeno je da klasteri CRO-C31-mikro, CRO-C16-mikro i SI-C16-veliki zbog utjecaja različitih financijskih pokazatelja, posebice omjera aktivnosti i likvidnosti, imaju najveću operativnu učinkovitost. Općenito, unutar klastera grupiranih prema zemlji i podsektoru istraživanja, skupine SI-C16 i CRO-C31 pokazale su najviše vrijednosti za prosjek ponderirane ocjene učinkovitosti, a CRO-C16 imao je najniže vrijednosti.

• Keywords: financijska analiza, financijski omjer, drvna industrija, Slovenija, Hrvatska, DEA, Malmquistov indeks

Projects

• Funder: ARRS - Slovenian Research Agency
• Project number: P4-0015
• Name: Les in lignocelulozni kompoziti

• Funder: ARRS - Slovenian Research Agency
• Project number: P4-0059
• Name: Gozd, gozdarstvo in obnovljivi gozdni viri