文章基本信息

标题：Is profitability a good proxy for efficiency? Evidence from the subsector of tour operators
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作者：Veronika Hedija ; Roman Fiala ; Martina Kuncová 等
期刊名称：Review of Economic Perspectives
印刷版ISSN：1213-2446
电子版ISSN：1804-1663
出版年度：2017
卷号：17
期号：4
页码：425-440
DOI：10.1515/revecp-2017-0022
语种：English
出版社：Walter de Gruyter GmbH
摘要：The goal of the paper is to evaluate the economic efficiency of tour operators in the Czech Republic in the period 2007-2014 using data envelopment analysis (DEA) models and prove the link between economic efficiency and profitability and to find out if profitability is a good proxy for economic efficiency. Data was exported from the database Albertina CZ Gold Edition. We calculated the efficiency score using CCR (Charnes, Cooper and Rhodes) and BCC (Banker, Charnes and Cooper) models based on 3 inputs and 1 output. In the years 2007 to 2010, the efficiency score of almost all the companies was higher than 0.5; however, in years since 2011, we revealed significant differences in the efficiency of individual firms and only about 40 percent of tour operators achieved an efficiency score higher than 0.5. Using Pearson and Spearman correlation coefficients, our findings show that, in the case of the Czech tour operator market, profitability ratios do not correspond with firm efficiency. Profitability ratios are not a good proxy for economic efficiency and should not be used as the only firm criterion of performance.
关键词：DEA model ; economic efficiency ; tour operators ; profitability ; efficiency-profitability relationship