The Efficiency of Mandatory Pension Funds: Case of Croatia-Reference-Cited by-同舟云学术

The Efficiency of Mandatory Pension Funds: Case of Croatia

Published:2019-12-01 Issue:2 Volume:14 Page:82-94
ISSN:2233-1999
Container-title:South East European Journal of Economics and Business
language:en
Short-container-title:

Author:

Draženović Bojana Olgić¹,Hodžić Sabina²,Maradin Dario³

Affiliation:

1. PhD Associate Professor, Faculty of Economics and Business , University of Rijeka

2. PhD, Assistant Professor, Faculty of Tourism and Hospitality Management , University of Rijeka

3. PhD, Assistant Professor, Faculty of Economics and Business , University of Rijeka

Abstract

Abstract The aim of this paper is to examine performance of pension funds in Croatia, or more precisely, to measure the technical efficiency of mandatory pension funds. The main role of the pension funds is to collect and invest the money contributed by the employer or the employee during working years until retirement. Therefore, development of pension funds as institutional investors is especially important for capital markets as well as for the whole economy. By applying the methodology of data envelopment analysis on a sample of 12 DMUs, i.e. four mandatory pension funds divided into three categories (A, B or C) for 2015-2018 period, we provide further evidence on their efficiency level. The results have shown very small differences among relative inefficient pension funds.

Publisher

Walter de Gruyter GmbH

Subject

General Economics, Econometrics and Finance,General Business, Management and Accounting

Link

https://www.sciendo.com/pdf/10.2478/jeb-2019-0015

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