IDEAS home Printed from https://ideas.repec.org/a/sos/sosjrn/190406.html
   My bibliography  Save this article

Determination of the Efficiencies of Textile Firms Listed in Borsa İstanbul by Using DEA-Window Analysis

Author

Listed:
  • Mehmet APAN
  • İhsan ALP
  • Ahmet ÖZTEL

Abstract

Global competition enables countries’ advantageous sectors to stand out as an indicator of their economic power. The importance of these sectors may vary by country or the time period they operate in. The textile industry is one of the sectors that significantly contributes to Turkey’s economic growth. Thus, it is important to monitor the financial activities of the firms in the textile sector as a performance indicator since it is evident that the financial efficiency of each company will contribute positively to the overall efficiency of the whole sector. In this study, the financial activities of 19 firms in the textile sector being traded on Borsa Istanbul (BIST) for the period 2008-2017 are examined. For efficiency analysis, DEA (Data Envelopment Analysis) -Window Analysis method was applied by using financial indicators of these companies. It was observed that the highest average efficiency value of the companies was realized in 2017 with 94.09%. The average activity levels in other years were found to be in the range of 60%-90%. In the empirical analysis, the efficiency values of the top five companies were determined to be at the level of 90%-100%. DESA has achieved the most successful performance in average efficiencies with a score of 98.04 when the whole period is considered. SÖNMEZ and MENDERES firms have taken the second and the third places with scores of 97.40 and 94.74, respectively. The close performances of the top three firms were also observed in three-years windows. However, in the three-year window analysis, SÖNMEZ ranked the first, DESA ranked the second and MENDERES ranked the third according to their average scores. One of the reasons for this small difference between the rankings is that, firstly, the firms’ performances have been very close to each other, and secondly the effect of the low score (76.11) obtained by SÖNMEZ in 2008 has been diminished for the firm in the three-year window analysis. KARSU occupied the last place with the lowest average efficiency score in both rankings.Classification-JEL:C61, C67, L67.Keywords:Efficiency, Performance, Textile, DEA, Window Analysis.

Suggested Citation

  • Mehmet APAN & İhsan ALP & Ahmet ÖZTEL, 2019. "Determination of the Efficiencies of Textile Firms Listed in Borsa İstanbul by Using DEA-Window Analysis," Sosyoekonomi Journal, Sosyoekonomi Society, issue 27(42).
    • Handle: RePEc:sos:sosjrn:190406
    as

    Download full text from publisher

    File URL: http://dergipark.gov.tr/download/article-file/832980
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ahmed Salem Al‐Eraqi & Adli Mustafa & Ahamad Tajudin Khader, 2010. "An extended DEA windows analysis: Middle East and East African seaports," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 37(2), pages 208-218, May.
    2. Yasuo Ohe & Nicolas Peypoch, 2016. "Efficiency analysis of Japanese Ryokans," Tourism Economics, , vol. 22(6), pages 1261-1273, December.
    3. Yang, Hsu-Hao & Chang, Cheng-Yu, 0. "Using DEA window analysis to measure efficiencies of Taiwan's integrated telecommunication firms," Telecommunications Policy, Elsevier, vol. 33(1-2), pages 98-108, February.
    4. Halkos, George Emm. & Tzeremes, Nickolaos G., 2009. "Exploring the existence of Kuznets curve in countries' environmental efficiency using DEA window analysis," Ecological Economics, Elsevier, vol. 68(7), pages 2168-2176, May.
    5. Ray,Subhash C., 2012. "Data Envelopment Analysis," Cambridge Books, Cambridge University Press, number 9781107405264.
    6. Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, vol. 2(6), pages 429-444, November.
    7. Robert Webb, 2003. "Levels of efficiency in UK retail banks: a DEA window analysis," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 10(3), pages 305-322.
    8. Thanh Pham Thien Nguyen & Eduardo Roca & Parmendra Sharma, 2014. "How efficient is the banking system of Asia's next economic dragon? Evidence from rolling DEA windows," Applied Economics, Taylor & Francis Journals, vol. 46(22), pages 2665-2684, August.
    9. Pulina, Manuela & Detotto, Claudio & Paba, Antonello, 2010. "An investigation into the relationship between size and efficiency of the Italian hospitality sector: A window DEA approach," European Journal of Operational Research, Elsevier, vol. 204(3), pages 613-620, August.
    10. Cook, Wade D. & Seiford, Larry M., 2009. "Data envelopment analysis (DEA) - Thirty years on," European Journal of Operational Research, Elsevier, vol. 192(1), pages 1-17, January.
    11. Sözen, Adnan & Alp, Ihsan, 2009. "Comparison of Turkey's performance of greenhouse gas emissions and local/regional pollutants with EU countries," Energy Policy, Elsevier, vol. 37(12), pages 5007-5018, December.
    12. Emrouznejad, Ali & Parker, Barnett R. & Tavares, Gabriel, 2008. "Evaluation of research in efficiency and productivity: A survey and analysis of the first 30 years of scholarly literature in DEA," Socio-Economic Planning Sciences, Elsevier, vol. 42(3), pages 151-157, September.
    13. Cullinane Kevin & Song Dong-Wook & Ji Ping & Wang Teng-Fei, 2004. "An Application of DEA Windows Analysis to Container Port Production Efficiency," Review of Network Economics, De Gruyter, vol. 3(2), pages 1-23, June.
    14. Sueyoshi, Toshiyuki & Goto, Mika & Sugiyama, Manabu, 2013. "DEA window analysis for environmental assessment in a dynamic time shift: Performance assessment of U.S. coal-fired power plants," Energy Economics, Elsevier, vol. 40(C), pages 845-857.
    15. Zhang, Xing-Ping & Cheng, Xiao-Mei & Yuan, Jia-Hai & Gao, Xiao-Jun, 2011. "Total-factor energy efficiency in developing countries," Energy Policy, Elsevier, vol. 39(2), pages 644-650, February.
    16. Halkos, George E. & Tzeremes, Nickolaos G., 2009. "Economic efficiency and growth in the EU enlargement," Journal of Policy Modeling, Elsevier, vol. 31(6), pages 847-862, November.
    17. Mette Asmild & Joseph Paradi & Vanita Aggarwall & Claire Schaffnit, 2004. "Combining DEA Window Analysis with the Malmquist Index Approach in a Study of the Canadian Banking Industry," Journal of Productivity Analysis, Springer, vol. 21(1), pages 67-89, January.
    18. Kazley, Abby Swanson & Ozcan, Yasar A., 2009. "Electronic medical record use and efficiency: A DEA and windows analysis of hospitals," Socio-Economic Planning Sciences, Elsevier, vol. 43(3), pages 209-216, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Liu, Haiyue & Zhang, Ruchuan & Zhou, Li & Li, Aijun, 2023. "Evaluating the financial performance of companies from the perspective of fund procurement and application: New strategy cross efficiency network data envelopment analysis models," Energy, Elsevier, vol. 269(C).
    2. Yuanxin Peng & Zhuo Chen & Juanzhi Xu & Jay Lee, 2020. "Analysis of green total factor productivity trend and its determinants for the countries along silk roads," Growth and Change, Wiley Blackwell, vol. 51(4), pages 1711-1726, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yasuo Ohe & Nicolas Peypoch, 2016. "Efficiency analysis of Japanese Ryokans," Tourism Economics, , vol. 22(6), pages 1261-1273, December.
    2. Mai, Nhat Chi, 2015. "Efficiency of the banking system in Vietnam under financial liberalization," OSF Preprints qsf6d, Center for Open Science.
    3. Angeliki Flokou & Vassilis Aletras & Dimitris Niakas, 2017. "A window-DEA based efficiency evaluation of the public hospital sector in Greece during the 5-year economic crisis," PLOS ONE, Public Library of Science, vol. 12(5), pages 1-26, May.
    4. Alizadeh, Reza & Gharizadeh Beiragh, Ramin & Soltanisehat, Leili & Soltanzadeh, Elham & Lund, Peter D., 2020. "Performance evaluation of complex electricity generation systems: A dynamic network-based data envelopment analysis approach," Energy Economics, Elsevier, vol. 91(C).
    5. Lin, Shoufu & Lin, Ruoyun & Sun, Ji & Wang, Fei & Wu, Weixiang, 2021. "Dynamically evaluating technological innovation efficiency of high-tech industry in China: Provincial, regional and industrial perspective," Socio-Economic Planning Sciences, Elsevier, vol. 74(C).
    6. Du, Huibin & Matisoff, Daniel C. & Wang, Yangyang & Liu, Xi, 2016. "Understanding drivers of energy efficiency changes in China," Applied Energy, Elsevier, vol. 184(C), pages 1196-1206.
    7. Meng, Fanyi & Su, Bin & Thomson, Elspeth & Zhou, Dequn & Zhou, P., 2016. "Measuring China’s regional energy and carbon emission efficiency with DEA models: A survey," Applied Energy, Elsevier, vol. 183(C), pages 1-21.
    8. Pejman Peykani & Jafar Gheidar-Kheljani & Reza Farzipoor Saen & Emran Mohammadi, 2022. "Generalized robust window data envelopment analysis approach for dynamic performance measurement under uncertain panel data," Operational Research, Springer, vol. 22(5), pages 5529-5567, November.
    9. Arazmuradov, Annageldy, 2011. "Energy consumption and carbon dioxide environmental efficiency for former Soviet Union economies. evidence from DEA window analysis," MPRA Paper 36903, University Library of Munich, Germany, revised 24 Feb 2012.
    10. Bono, Filippa & Giacomarra, Marcella, 2016. "The photovoltaic growth in the European Union requires stronger RES support," Journal of Policy Modeling, Elsevier, vol. 38(2), pages 324-339.
    11. Matthias Klumpp, 2018. "How to Achieve Supply Chain Sustainability Efficiently? Taming the Triple Bottom Line Split Business Cycle," Sustainability, MDPI, vol. 10(2), pages 1-23, February.
    12. Mardani, Abbas & Zavadskas, Edmundas Kazimieras & Streimikiene, Dalia & Jusoh, Ahmad & Khoshnoudi, Masoumeh, 2017. "A comprehensive review of data envelopment analysis (DEA) approach in energy efficiency," Renewable and Sustainable Energy Reviews, Elsevier, vol. 70(C), pages 1298-1322.
    13. Girma Jirata Duguma & Jiqin Han, 2021. "Effect of deposit mobilization on the technical efficiency of rural saving and credit cooperatives: Evidence from Ethiopia," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 92(4), pages 621-647, December.
    14. Claudio Detotto & Manuela Pulina & Juan Brida, 2014. "Assessing the productivity of the Italian hospitality sector: a post-WDEA pooled-truncated and spatial analysis," Journal of Productivity Analysis, Springer, vol. 42(2), pages 103-121, October.
    15. Halkos, George E. & Tzeremes, Nickolaos G., 2009. "Economic efficiency and growth in the EU enlargement," Journal of Policy Modeling, Elsevier, vol. 31(6), pages 847-862, November.
    16. Wu, Hua-qing & Shi, Yan & Xia, Qiong & Zhu, Wei-dong, 2014. "Effectiveness of the policy of circular economy in China: A DEA-based analysis for the period of 11th five-year-plan," Resources, Conservation & Recycling, Elsevier, vol. 83(C), pages 163-175.
    17. Liu, John S. & Lu, Louis Y.Y. & Lu, Wen-Min, 2016. "Research fronts in data envelopment analysis," Omega, Elsevier, vol. 58(C), pages 33-45.
    18. Zhang, Xing-Ping & Cheng, Xiao-Mei & Yuan, Jia-Hai & Gao, Xiao-Jun, 2011. "Total-factor energy efficiency in developing countries," Energy Policy, Elsevier, vol. 39(2), pages 644-650, February.
    19. Mehdi Shamohammadi & Yonghwa Park & Jong Hae Choi & Oh Kyoung Kwon, 2022. "Exploring the Performance of International Airports in the Pre- and Post-COVID-19 Era: Evidence from Incheon International Airport," Sustainability, MDPI, vol. 14(7), pages 1-22, April.
    20. Brida, Juan Gabriel & Deidda, Manuela & Pulina, Manuela, 2014. "Tourism and transport systems in mountain environments: analysis of the economic efficiency of cableways in South Tyrol," Journal of Transport Geography, Elsevier, vol. 36(C), pages 1-11.

    More about this item

    Keywords

    efficiency; performance; textile; dea; window analysis.;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • L67 - Industrial Organization - - Industry Studies: Manufacturing - - - Other Consumer Nondurables: Clothing, Textiles, Shoes, and Leather Goods; Household Goods; Sports Equipment

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sos:sosjrn:190406. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Aysen Sivrikaya (email available below). General contact details of provider: http://www.sosyoekonomijournal.org/home.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.