Abstract
The article deals with the verification of a performance evaluation model of innovative companies in the Czech Republic and the evaluation of the impact of a branch on their performance in terms of effectiveness and efficiency. From a methodological point of view, the article is based on the use of Data envelopment analysis (DEA) to evaluate the performance of the selected companies. To evaluate their performance, a two-stage DEA method, BCC model orientated at inputs is used. In the first stage, the effectiveness of resources spent on protecting industrial property rights is evaluated. In the second stage, it is assessed how the companies managed to evaluate registered property rights in terms of added value. The research results show that among branches, there are significant differences in both the overall level of performance, and in its pillars – effectiveness and efficiency. In the conclusion, other potential factors that could affect the company’s performance in terms of effectiveness and efficiency are discussed.
Highlights
Company performance is one of the current, but not uniformly comprehended topics in the literature, both in terms of the definition of “performance” and in terms of its measurement
The test result led to the rejection of the null hypothesis which states that the efficiency score is not dependent on the type of industry (F-Ratio = 3.3600, p-value
The article showed that the overall performance of innovative companies can be divided into two pillars
Summary
Company performance is one of the current, but not uniformly comprehended topics in the literature, both in terms of the definition of “performance” and in terms of its measurement. The second dimension relates to the implementation of the activity, i.e. the ability of the company to achieve outcomes with minimal inputs (costs) This dimension is called efficiency (Wagner 2009; Karlíček et al 2014). The multi-criteria programming method called Data Envelopment Analysis (hereafter DEA) was used in this article to evaluate the performance of companies. This method enables the evaluation of companies with the help of the large number of both financial and non-financial inputs and outputs and can identify the best companies, or in other words benchmarks. The article raises the question of whether there are significant differences in the performance of companies across branches in terms of effectiveness and efficiency. The article looks at the variables that can affect the performance of companies in different branches
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