Abstract
Recently, as is well known, the performance and efficiency of financial institutions are increasingly being measured on the basis of multi-criteria analysis. With this in mind, this paper analyzes the efficiency of financial institutions in Serbia based on the OCRA method. In this context, adequate measures have been proposed to improve the efficiency of financial institutions in Serbia in the future. Based on the obtained results of research on the efficiency of financial institutions in Serbia using the OCRA method, it can be concluded that banks and insurance companies are the most efficient in order. They are in order: other financial institutions, financial leasing providers, voluntary pension funds, broker-dealer companies, open-end investment funds, voluntary pension fund management companies and investment fund management companies. This positioning of financial institutions in Serbia was influenced by numerous macro and micro factors. The development of the financial market plays a significant role in this. It is still not at the level of developed market economies.
Highlights
Banke i društvo za osiguranje u Srbiji odlikuju se time što su, prema deskriptivnoj statistici, njihove varijable
They are in order: other financial institutions, financial leasing providers, voluntary pension funds, broker-dealer companies, open-end investment funds, voluntary pension fund management companies and investment fund management companies
Summary
OCRA (Operational Competitiveness Rating) metodu su predložili Parkan [14] i dalje su je razvili Parkan i Wu [15, 16, 17]. Procedura poboljšane OCRA metode je sledeća [17, 1, 9, 19 ]: Korak 1: Izračunavanje agregatne ocene performansne za troškovni kriterijum na sledeći način: Ii. gde Ii označava agregatnu ocenu performanse alternative i, dobijene na bazi troškovnog (Input) kriterijuma, xij označava ocenu performanse alternative i u odnosu na j-ti kriterijum, i Ωmin je skup troškovnih (minimizacionih) kriterijuma. Korak 2: Izračunavanje linerane ocene performanse za troškovni kriterijum na sledeći način: Ii = Ii − miniIi ,. Gde Iioznačava lineranu ocenu performanse alternative i, dobijene na bazi troškovnog kriterijuma. Korak 3: Izračunavanje agregatne ocene performanse u odnosu na prihodovni kriterijum na sledeći način: Oi. gde Oi označava agregatnu ocenu performanse alternative i, dobijene na bazi prihodovnog (Output) kriterijuma, i Ωmax je skup prihodovnih (maksimizacionih) kriterijuma. Gde Oi označava lineranu ocenu performanse alternative i, dobijene na bazi prihodovnog kriterijuma. To omogućava da normalizovane ocene performanse uvek pripadaju intervalu [0,1]
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