Made available in DSpace on 2014-12-17T14:09:18Z (GMT). No. of bitstreams: 1 ClaudiaACF_TESE.pdf: 6242500 bytes, checksum: 7a857ce8be46bd85b252fca3bf3fa45c (MD5) Previous issue date: 2013-05-24 / The increasing use of fossil fuels in line with cities demographic explosion carries out to huge environmental impact in society. For mitigate these social impacts, regulatory requirements have positively influenced the environmental consciousness of society, as well as, the strategic behavior of businesses. Along with this environmental awareness, the regulatory organs have conquered and formulated new laws to control potentially polluting activities, mostly in the gas stations sector. Seeking for increasing market competitiveness, this sector needs to quickly respond to internal and external pressures, adapting to the new standards required in a strategic way to get the Green Badge . Gas stations have incorporated new strategies to attract and retain new customers whom present increasingly social demand. In the social dimension, these projects help the local economy by generating jobs and income distribution. In this survey, the present research aims to align the social, economic and environmental dimensions to set the sustainable performance indicators at Gas Stations sector in the city of Natal/RN. The Sustainable Balanced Scorecard (SBSC) framework was create with a set of indicators for mapping the production process of gas stations. This mapping aimed at identifying operational inefficiencies through multidimensional indicators. To carry out this research, was developed a system for evaluating the sustainability performance with application of Data Envelopment Analysis (DEA) through a quantitative method approach to detect system s efficiency level. In order to understand the systemic complexity, sub organizational processes were analyzed by the technique Network Data Envelopment Analysis (NDEA) figuring their micro activities to identify and diagnose the real causes of overall inefficiency. The sample size comprised 33 Gas stations and the conceptual model included 15 indicators distributed in the three dimensions of sustainability: social, environmental and economic. These three dimensions were measured by means of classical models DEA-CCR input oriented. To unify performance score of individual dimensions, was designed a unique grouping index based upon two means: arithmetic and weighted. After this, another analysis was performed to measure the four perspectives of SBSC: learning and growth, internal processes, customers, and financial, unifying, by averaging the performance scores. NDEA results showed that no company was assessed with excellence in sustainability performance. Some NDEA higher efficiency Gas Stations proved to be inefficient under certain perspectives of SBSC. In the sequence, a comparative sustainable performance and assessment analyzes among the gas station was done, enabling entrepreneurs evaluate their performance in the market competitors. Diagnoses were also obtained to support the decision making of entrepreneurs in improving the management of organizational resources and promote guidelines the regulators. Finally, the average index of sustainable performance was 69.42%, representing the efforts of the environmental suitability of the Gas station. This results point out a significant awareness of this segment, but it still needs further action to enhance sustainability in the long term / A crescente utiliza??o de combust?veis f?sseis alinhada ? explos?o demogr?fica em centros urbanos tem ocasionado grandes problemas de impacto ambiental na sociedade. Para mitigar esses impactos, as exig?ncias dos ?rg?os reguladores t?m influenciado positivamente na consci?ncia ambiental da sociedade, bem como no comportamento estrat?gico das empresas. Com essa consci?ncia ambiental, os ?rg?os t?m conquistado maiores respaldos e formulado novas legisla??es no controle de atividades potencialmente poluidoras, sobretudo no setor dos postos revendedores de combust?veis. Em busca de aumentar a competitividade no mercado, esse segmento precisa responder rapidamente ?s press?es (externas e internas), adequando-se aos novos padr?es exigidos de maneira estrat?gica na obten??o do selo verde. Os postos t?m incorporado novas estrat?gias para atrair e fidelizar clientes cada vez mais exigentes. No ?mbito social, esses empreendimentos auxiliam a economia local com a gera??o de empregos e distribui??o de renda. Mediante esse contexto, o presente trabalho tem como objetivo alinhar as dimens?es social, econ?mica e ambiental caracterizando a mensura??o do desempenho sustent?vel nos postos de revenda de combust?vel na cidade do Natal/RN. As perspectivas do Balanced Scorecard Sustent?vel (SBSC) foram fundamentadas por meio de um conjunto de indicadores para mapear o processo produtivo dos postos. Esse mapeamento visou identificar a inefici?ncia operacional por meio de indicadores multidimensionais. Na condu??o desta pesquisa, elaborou-se um sistema de avalia??o do desempenho sustent?vel com aplica??o do Data Envelopment Analysis (DEA), uma abordagem quantitativa para detectar o n?vel de efici?ncia do sistema. Com o intuito de compreender a complexidade sist?mica, os sub processos organizacionais foram analisados por meio da t?cnica Network Data Envelopment Analysis (NDEA) com o desmembramento das suas micro atividades para identificar e diagnosticar as reais causas de inefici?ncia. O tamanho amostral foi composto por 33 postos de revenda de combust?vel e o modelo conceitual contemplou 15 indicadores distribu?dos nas tr?s dimens?es da sustentabilidade: social, ambiental e econ?mica. Essas tr?s dimens?es foram mensuradas por meio de modelos cl?ssicos DEA-CCR com orienta??o input. Visando unificar o escore de desempenho individual das dimens?es, foi elaborado um ?nico ?ndice considerado parcialmente agrupado por meio de duas m?dias: aritm?tica e ponderada. Posteriormente, outra an?lise foi realizada para mensurar as quatro perspectivas do SBSC: aprendizado e crescimento; processos internos; clientes; e, financeira, unificando, por meio da m?dia os escores de desempenho. Os resultados do modelo NDEA apontaram que nenhuma empresa foi avaliada com excel?ncia no desempenho sustent?vel. Os postos com maiores ?ndices de efici?ncia mostraram-se ineficientes em determinadas perspectivas do SBSC. Na sequ?ncia, as an?lises apresentaram uma avalia??o do desempenho sustent?vel e das perspectivas de maneira comparativa entre os postos, possibilitando aos empres?rios avaliarem seu desempenho entre os concorrentes. Foram tamb?m obtidos diagn?sticos para subsidiar a tomada de decis?o dos empres?rios na melhoria do gerenciamento dos recursos organizacionais e promover diretrizes balizadoras nos ?rg?os regulamentadores. O escore m?dio do desempenho sustent?vel foi 69,42% representando os esfor?os empreendidos na adequa??o ambiental dos postos. Isso sinaliza uma consider?vel consci?ncia desse segmento, por?m ainda necessita de novas a??es para incrementar a sustentabilidade no longo prazo

Com o aumento da capacidade de processamento de dados dentro das empresas de todos os portes e da disponibilidade de informações cada vez maior nos tempos atuais, o uso de indicadores e ferramentas de análise quantitativa tornam-se cada vez mais comuns nas mais diversas áreas, buscando-se eficiência, uma correta alocação de recursos e na geração de expectativas mais realistas de vendas e resultados. Enquanto muitos mercados apresentam uma variedade de dados e de estudos para serem usados como bases de referência, existem outros que ainda são carentes de informações básicas para planejamento e análise. O mercado de materiais cirúrgicos é um destes, onde não estão disponíveis as demandas dos clientes, as projeções de mercado ou as estimativas de market share. Este estudo busca, através da análise das vendas em 43 territórios de empresas de dispositivos médicos com atuação no Brasil nas áreas de ortopedia traumatologia, neurocirurgia e buco-maxilo-facial, aplicar a técnica de Análise Envoltória de Dados (DEA, do inglês “Data Envelopment Analysis”) como um modelo de análise comparativa de eficiência que possa auxiliar nos processos de tomada de decisão, mesmo com uma base restrita e limitada de informações. A aplicação da técnica de DEA apresenta resultados que permitem [1] destacar os pontos de melhoria para os territórios ineficientes buscando [2] homogeneizar a eficiência de atendimento por meio do [3] benchmarking entre as regiões buscando [4] uma maior competitividade neste mercado. / With the increased capacity of data processing within companies of all sizes and the currently availability of all sort of informations, the use of indicators and tools for quantitative analysis become increasingly common in many areas, allowing companies to achieve better efficiency, proper resources allocation, and the settle of more realistic performance expectations. While many markets feature a variety of data and studies, others are deprived of basic information for planning and analysis. Among these, the medical devices market have almost unavailable informations of customers demands, markets forecasts or estimated market share at a regional level. Through the analysis of 43 sales territories of medical devices companies in Brazil, this study uses the technique of data envelopment analysis (DEA) as a model for comparative efficiency analysis that can assist the processes of decision making, even with a restricted and limited database. The application of DEA technique provide results that [1] highlight the points of improvement for inefficient territories [2] in order to homogenize the efficiency of regions through [3] benchmarking between them, [4] to improve overall competitive level.

Com o aumento da capacidade de processamento de dados dentro das empresas de todos os portes e da disponibilidade de informações cada vez maior nos tempos atuais, o uso de indicadores e ferramentas de análise quantitativa tornam-se cada vez mais comuns nas mais diversas áreas, buscando-se eficiência, uma correta alocação de recursos e na geração de expectativas mais realistas de vendas e resultados. Enquanto muitos mercados apresentam uma variedade de dados e de estudos para serem usados como bases de referência, existem outros que ainda são carentes de informações básicas para planejamento e análise. O mercado de materiais cirúrgicos é um destes, onde não estão disponíveis as demandas dos clientes, as projeções de mercado ou as estimativas de market share. Este estudo busca, através da análise das vendas em 43 territórios de empresas de dispositivos médicos com atuação no Brasil nas áreas de ortopedia traumatologia, neurocirurgia e buco-maxilo-facial, aplicar a técnica de Análise Envoltória de Dados (DEA, do inglês “Data Envelopment Analysis”) como um modelo de análise comparativa de eficiência que possa auxiliar nos processos de tomada de decisão, mesmo com uma base restrita e limitada de informações. A aplicação da técnica de DEA apresenta resultados que permitem [1] destacar os pontos de melhoria para os territórios ineficientes buscando [2] homogeneizar a eficiência de atendimento por meio do [3] benchmarking entre as regiões buscando [4] uma maior competitividade neste mercado. / With the increased capacity of data processing within companies of all sizes and the currently availability of all sort of informations, the use of indicators and tools for quantitative analysis become increasingly common in many areas, allowing companies to achieve better efficiency, proper resources allocation, and the settle of more realistic performance expectations. While many markets feature a variety of data and studies, others are deprived of basic information for planning and analysis. Among these, the medical devices market have almost unavailable informations of customers demands, markets forecasts or estimated market share at a regional level. Through the analysis of 43 sales territories of medical devices companies in Brazil, this study uses the technique of data envelopment analysis (DEA) as a model for comparative efficiency analysis that can assist the processes of decision making, even with a restricted and limited database. The application of DEA technique provide results that [1] highlight the points of improvement for inefficient territories [2] in order to homogenize the efficiency of regions through [3] benchmarking between them, [4] to improve overall competitive level.

Cette thèse se concentre sur la compréhension et l'analyse de l'efficacité technique des banques islamiques et conventionnelles. La thèse est divisée en deux parties : dans la première partie, l'étude fournit des illustrations théoriques utiles pour une comparaison détaillée entre les banques conventionnelles et islamiques, couvrant les différences en terme du système bancaire, la structure organisationnelle, la création monétaire, la structure du bilan, le rôle de la banque centrale et leurs impacts sur les cycles économiques. La deuxième partie se focalise sur le calcul des scores d'efficacité technique, pour essayer de comprendre la répartition des scores sous trois hypothèses principales : Constant Return to Scale (CRS), Variable Return to Scale (VRS), et Scale Efficiency (SE). La deuxième partie comprend également une analyse de régression pour explorer les différentes variables financières qui affectent l'efficacité technique, et qui expliquent la différence entre les scores des deux catégories de banques. L'échantillon de cette étude contient 1 425 banques commerciales et 85 banques islamiques tirées de la base Bankscope. La méthode utilisée dans la première partie combine la Data Envelopment Analysis (DEA) et l'Analyse Descriptive, tandis que la deuxième partie est réalisée selon la régression Tobit. Les résultats de cette étude montrent que les scores de type Scale Efficiency sont préférables pour représenter l’efficacité, par rapport aux scores CRS et VRS. L'étude montre également que les banques islamiques sont statistiquement plus efficaces que les banques conventionnelles. De plus, l'étude a révélé que le rendement de l’actif moyen, le ratio prêt net / actif total, la marge nette d'intérêts et le ratio des capitaux propres par rapport au total des actifs ont une incidence importante sur le rendement. / This thesis focuses on two parts: providing theoretical understanding and investigation of technical efficiency score in Islamic and conventional banks. This study is divided into two parts. In the first part, the study provides useful theoretical illustrations regarding the comparison between conventional banks and Islamic banks in greater details, covering the difference in banking scheme, organization structure, money creation, balance sheet structure, the function of a central bank, and the difference on impact to economic system and economic cycles. The second part is the calculation of technical efficiency score to understand how the distribution of score across banks under three primary assumptions: Constant Return to Scale, Variable return to Scale and Scale Efficiency. The second part involves regression analysis in understanding financial variables affecting technical efficiency and how different the score between Islamic and conventional banks. The sample of this study is 1,425 commercial banks and 85 Islamic banks (Data downloaded from Bankscope Database). The method used in the first part is Data Envelopment Analysis and Descriptive Analysis, while the method used in the second part is Tobit regression. The findings in this study shows that Scale Efficiency score is better to represent efficiency score compared to Variable Return to Scale and Constant Return to Scale. The study also shows that Islamic banks are statistically more efficient than conventional banks. Moreover, the study found that return on average asset, net loan to total asset ratio, net interest margin, and equity to total asset ratio significantly affect the efficiency score.

I och med den tekniska utvecklingen är det kritiskt för företag att anpassa sig och följa med utvecklingen för att kunna upprätthålla sin konkurrenskraft och tillväxtförmåga. I denna fallstudie utförs en omfattande analys av produktionsprocesserna hos GB Verkstads & Industrivaror AB, som bland annat producerar hydraulikkomponenter, med syfte att evaluera och förbättra effektiviteten genom värdeflödesanlys (VSM) i kombination med dataomslutningsanalys (DEA). Målet med studien är att kartlägga nuvarande ineffektivitet, mäta företagets ”Leanhet” före och efter en planerad flytt till nya lokaler och sedan identifiera förbättringspotentialer i form av en handlingsplan.  Analysresultaten från värdeflödesanalys avslöjade flera kritiska icke-värdeadderande aktiviteter och i vissa fall rent spill vilket gav insikter till identifiering av specifika åtgärder för att minimera slöseriet och förbättra produktionsflödena. Flytten till de nya lokalerna möjliggjorde bättre layout vilket ledde minskning av cykeltider.  Dataomslutningsanalysen användes för att beräkna företagets Leanhet, där den nuvarande Leanheten i de gamla lokalerna beräknas till 52 %, och efter flytten steg den till 69 % i de nya lokalerna.  Resultatet av dataomslutningsanalys visar att de två framtida lägen visar att i det första och mer realistiska scenariot kan Leanheten ökas till 80% genom att genomföra standardiserat arbetssätt, eliminera slöseri och liten teknisk investering. I det ideala scenariot kan Leanheten bli 100 % om produktionsprocesserna automatiseras.  Studien påvisar att VSM i kombination med DEA kan användas som ett verktyg för att utvärdera effektiviteten före och efter flytt till nya lokaler ur ett Lean perspektiv. / Considering today’s technological advancements, it is critical for companies to adapt and keep pace with developments to maintain their competitiveness and growth potential. This case study conducts a comprehensive analysis of the production processes at GB Verkstad & Industrivaror AB, which produces hydraulic components, among other things. The purpose of the study is to evaluate and improve efficiency through Value Stream Mapping (VSM) combined with Data Envelopment Analysis (DEA). The aim of the study is to map current inefficiencies, measure the company’s "Leanness" before and after a move to new premises, and then identify potential improvements in the form of an action plan. The results from the value stream analysis revealed several critical non-value-adding activities and, in some cases, pure waste, which provided insights for identifying specific measures to minimize waste and improve production flows. The move to the new premises enabled a better layout which led to reduced cycle times. Data Envelopment Analysis was used to calculate the company's Leanness, where the current Leanness in the old premises was calculated to 52%, and after relocating, it increased to 69% in the new premises. The results of the data envelopment analysis show that in the first and more realistic future scenario, can leanness be increased to 80% by implementing standardized work practices, eliminating waste, and making small technical investments. In the ideal future scenario, can Leanness reach 100% if the production processes are automated. The study demonstrates that VSM combined with DEA can be used as a tool to evaluate efficiency before and after moving to new premises from a Lean perspective.

The new millennium is the time for entrepreneurship both nationally and internationally because the new millennium has many opportunities, afforded by technology and global communications, as it is filled with challenges and uncertainty. The South African government has identified the important role small- and medium-sized enterprises have to play in employment creation. The first step towards economic development is creating new businesses; the second step is ensuring sustainability through value creation. Value-based management can be defined as a management approach that maximises long-term shareholder value, which is incorporated in the business’ strategy and goals, through the identification and management of key value drivers, whereby all employees think and act like shareholders. To ensure value creation takes place, some form of control mechanism is required. Managerial decisions and actions to create shareholder value, therefore, are measured through a metric, and employee performance is linked to the value created. Value-based management is not a staff-driven exercise but focusses on better decision making at all levels. Value-based management metrics are based on the idea of comparing cash flows generated by a company against the cost of capital in generating these flows, and thereby measuring shareholder value. Understanding what drives value in a company is essential for creating shareholder value, as well as how these drivers affect one another. This will enable all stakeholders, from senior management right down to the shop floor, to make the right informed decision that will result in creating and increasing shareholder value. Entrepreneurship can be defined as a dynamic goal-oriented process whereby an individual combines creative thinking to identify marketplace needs and new opportunities with the ability to manage secure resources, and adapt to the environment to achieve desired results, while assuming some portion of risk for the venture. Entrepreneurship is about the exploitation of perceived opportunities by individuals, based solely on personal judgement and visions. These are either not seen by other individuals, or they are unable to bear the risks of acting upon them. Without effective and efficient management by objectives, and management of projects, a small business cannot function. The decision to invest in an entrepreneurial business can be viewed as a hard evidence-oriented, substance-based process and investors discount the figures in a business plan, as these figures are wildly optimistic as well as padded by entrepreneurs. A venture capitalist sometimes chooses to invest in a new venture, even if the discounted cash flow (DCF) analysis results shows that the net present value is a negative reason, being that the DCF approach does not take into account the flexibility obtained by active management. The environment faced by the venture-backed firm is highly uncertain, making overlooking this flexibility a particularly serious problem. Private equity is potentially one of the most expensive forms of capital financing. New and emerging firms are usually the issuers of private equity, as these firms cannot raise money in the public markets, or they are public firms going private that require massive amounts of private financing. Smaller unlisted companies regard the Johannesburg Securities Exchange’s Alternative Exchange (AltX) as a stepping-stone to bigger things, including graduating to the main bourse of the JSE. Capital structure is arguably at the core of modern corporate finance, and a simple capital structure as a form of competitive strategy, as fewer physical assets contribute to organisational flexibility, and as a result, small firm owners often weigh the benefits of expansion against the benefits of remaining small. Performance evaluation is an important tool in continuously improving performance in order to stay competitive. Performance evaluation and benchmarking positively forces any business to constantly improve and evolve. Benchmarking a firm’s financial results against its own peers or industry averages enables management to identify the relative strength and weaknesses of the firms and as a result, ensure better future planning. Data envelopment analysis (DEA) is a non-parametric linear programming technique that computes a comparative ratio of outputs or inputs for each unit, which is reported as the relative efficiency score. DEA assists in identifying areas in which a firm has strengths and weaknesses (relative to competition) and when improvements are needed (relative to peers). DEA can indicate the level of improvement required, and provides a consistent and reliable measure of managerial or operational efficiency. A two-stage DEA model was developed to benchmark performance in terms of value creation in the first stage, and in the second stage, share price performance. The study was designed to evaluate companies at operating level (day-to-day activity) as well as company level. In addition to the two-stage model, a single stage model was developed as a separate analysis in terms of output maximisation regarding share prices. As far as could be determined, it was the first time this type of research was done on South African companies listed on the AltX. Furthermore, the study is the first to apply a benchmarking technique to determine the relative efficiency of companies to convert resources into value-based performance measures and to convert the same measures into share-value. The majority of companies listed on the AltX are not efficient in reflecting company performance in share prices by means of value-based management principles. A very limited number of companies were able to be efficient simultaneously in creating value and reflecting the value created in the share price. Based on the efficiency frontier in terms of value creation, a very limited number of companies listed on the AltX are deemed efficient. The majority of the companies are not able to create value at the levels of the efficient companies. A small fraction of the companies listed on the AltX is deemed efficient based on the efficiency frontier for reflecting value creation in share prices. AltX companies’ share prices have the potential to increase significantly in value, if all companies were efficient in reflecting created value in share prices. Small and medium enterprises should give more attention to value-based management principles in the process to create shareholders’ wealth. In light of the evidence that the value creation process must start with educating the management of small and medium enterprises on the concepts and principles of value-based management, it would also be highly recommended that small and medium enterprises should make value-based management part of the business’ strategies and goals. Small and medium enterprises must identify and manage key value drivers. This process is not a generic process, as each business is unique in its own way. It is important for management to understand the key value drivers in order to get employees to understand them. The management of small and medium enterprises are warned against a short-term value maximisation focus at the expense of long-term shareholder value creation. Any reward and recognition system should not reward short-term benefits, but rather should focus on long-term, sustainable initiatives, that will create value in the long run to the benefit of all stakeholders involved. / PhD (Business Administration), North-West University, Potchefstroom Campus, 2015

The new millennium is the time for entrepreneurship both nationally and internationally because the new millennium has many opportunities, afforded by technology and global communications, as it is filled with challenges and uncertainty. The South African government has identified the important role small- and medium-sized enterprises have to play in employment creation. The first step towards economic development is creating new businesses; the second step is ensuring sustainability through value creation. Value-based management can be defined as a management approach that maximises long-term shareholder value, which is incorporated in the business’ strategy and goals, through the identification and management of key value drivers, whereby all employees think and act like shareholders. To ensure value creation takes place, some form of control mechanism is required. Managerial decisions and actions to create shareholder value, therefore, are measured through a metric, and employee performance is linked to the value created. Value-based management is not a staff-driven exercise but focusses on better decision making at all levels. Value-based management metrics are based on the idea of comparing cash flows generated by a company against the cost of capital in generating these flows, and thereby measuring shareholder value. Understanding what drives value in a company is essential for creating shareholder value, as well as how these drivers affect one another. This will enable all stakeholders, from senior management right down to the shop floor, to make the right informed decision that will result in creating and increasing shareholder value. Entrepreneurship can be defined as a dynamic goal-oriented process whereby an individual combines creative thinking to identify marketplace needs and new opportunities with the ability to manage secure resources, and adapt to the environment to achieve desired results, while assuming some portion of risk for the venture. Entrepreneurship is about the exploitation of perceived opportunities by individuals, based solely on personal judgement and visions. These are either not seen by other individuals, or they are unable to bear the risks of acting upon them. Without effective and efficient management by objectives, and management of projects, a small business cannot function. The decision to invest in an entrepreneurial business can be viewed as a hard evidence-oriented, substance-based process and investors discount the figures in a business plan, as these figures are wildly optimistic as well as padded by entrepreneurs. A venture capitalist sometimes chooses to invest in a new venture, even if the discounted cash flow (DCF) analysis results shows that the net present value is a negative reason, being that the DCF approach does not take into account the flexibility obtained by active management. The environment faced by the venture-backed firm is highly uncertain, making overlooking this flexibility a particularly serious problem. Private equity is potentially one of the most expensive forms of capital financing. New and emerging firms are usually the issuers of private equity, as these firms cannot raise money in the public markets, or they are public firms going private that require massive amounts of private financing. Smaller unlisted companies regard the Johannesburg Securities Exchange’s Alternative Exchange (AltX) as a stepping-stone to bigger things, including graduating to the main bourse of the JSE. Capital structure is arguably at the core of modern corporate finance, and a simple capital structure as a form of competitive strategy, as fewer physical assets contribute to organisational flexibility, and as a result, small firm owners often weigh the benefits of expansion against the benefits of remaining small. Performance evaluation is an important tool in continuously improving performance in order to stay competitive. Performance evaluation and benchmarking positively forces any business to constantly improve and evolve. Benchmarking a firm’s financial results against its own peers or industry averages enables management to identify the relative strength and weaknesses of the firms and as a result, ensure better future planning. Data envelopment analysis (DEA) is a non-parametric linear programming technique that computes a comparative ratio of outputs or inputs for each unit, which is reported as the relative efficiency score. DEA assists in identifying areas in which a firm has strengths and weaknesses (relative to competition) and when improvements are needed (relative to peers). DEA can indicate the level of improvement required, and provides a consistent and reliable measure of managerial or operational efficiency. A two-stage DEA model was developed to benchmark performance in terms of value creation in the first stage, and in the second stage, share price performance. The study was designed to evaluate companies at operating level (day-to-day activity) as well as company level. In addition to the two-stage model, a single stage model was developed as a separate analysis in terms of output maximisation regarding share prices. As far as could be determined, it was the first time this type of research was done on South African companies listed on the AltX. Furthermore, the study is the first to apply a benchmarking technique to determine the relative efficiency of companies to convert resources into value-based performance measures and to convert the same measures into share-value. The majority of companies listed on the AltX are not efficient in reflecting company performance in share prices by means of value-based management principles. A very limited number of companies were able to be efficient simultaneously in creating value and reflecting the value created in the share price. Based on the efficiency frontier in terms of value creation, a very limited number of companies listed on the AltX are deemed efficient. The majority of the companies are not able to create value at the levels of the efficient companies. A small fraction of the companies listed on the AltX is deemed efficient based on the efficiency frontier for reflecting value creation in share prices. AltX companies’ share prices have the potential to increase significantly in value, if all companies were efficient in reflecting created value in share prices. Small and medium enterprises should give more attention to value-based management principles in the process to create shareholders’ wealth. In light of the evidence that the value creation process must start with educating the management of small and medium enterprises on the concepts and principles of value-based management, it would also be highly recommended that small and medium enterprises should make value-based management part of the business’ strategies and goals. Small and medium enterprises must identify and manage key value drivers. This process is not a generic process, as each business is unique in its own way. It is important for management to understand the key value drivers in order to get employees to understand them. The management of small and medium enterprises are warned against a short-term value maximisation focus at the expense of long-term shareholder value creation. Any reward and recognition system should not reward short-term benefits, but rather should focus on long-term, sustainable initiatives, that will create value in the long run to the benefit of all stakeholders involved. / PhD (Business Administration), North-West University, Potchefstroom Campus, 2015

本研究以我國上市上櫃電子公司為研究對象，以資料包絡分析法為分析方法，探討公司赴大陸投資前後以及赴大陸投資公司與未赴大陸投資公司間，其台灣母公司在整體技術效率、純技術效率及規模效率上之差異。 就規模效率而言，樣本公司在赴大陸投資後，其台灣母公司在規模效率上有顯著提升，在赴大陸投資公司部分亦為如此；在純技術效率方面，各組樣本間並未有顯著差異；整體技術效率方面，赴大陸投資後及赴大陸投資公司之整體技術效率分別較赴大陸投資前及未赴大陸投資公司為高，主要係規模效率改進之故；另外在規模報酬部分，大部分樣本公司仍處於規模報酬遞增階段。 這些現象可能透露出廠商在赴大陸投資後，對於台灣母公司之規模調整已收到部分效益，然在技術層面卻未有所改善，且部分台灣母公司的生產規模仍未調整至最適狀態，故廠商應加強技術之提升，並增加對台灣母公司之投資，以使現有之投入獲致最佳之報酬。 / The purpose of this research is to examine how the Taiwan’s parent companies of electronic industry have adapted their strategies to face the new market structure and competition after the deregulation of “regulation of investment in mainland China”. This research focuses on comparing the changes of electronic company’s efficiency before and after deregulation. This research applies Data Envelopment Analysis (DEA) to measure efficiency scores. The statistical results reject the null hypothesis that there was no overall technical efficiency change and no scale efficiency change after deregulation, but accept the null hypothesis that there was no pure technical efficiency change. The statistical results indicate that after deregulation overall technical efficiency and scale efficiency increased but the pure technical efficiency remain unchanged. After further analysis of scale efficiency, the research also reveals that most of the companies are in increasing return to scale level. The result implies that those companies have not reached their optimal level of return to scale, although they did improve their scale efficiency. The above findings suggest that although the companies investing in mainland China can improve their scale efficiency, however, the investment did not benefit the pure technical efficiency. Therefore, this research suggests that in order to get the optimal return, companies investing in mainland China should focus more on technique improvement and capital investment on Taiwan’s parent companies.

中國政府自2005年開始進行第一批循環經濟試點計畫。循環經濟強調資源減量化、再利用及再循環的原則，促成企業降低成本、減少污染排放並提高資源利用率。而目前探討循環經濟對效率影響之研究甚少，且研究大多著重於區域層級。因此本研究針對2004年至2007年的循環經濟試點公司，利用資料包絡分析法求出公司技術效率值並分析其長期趨勢，以探討公司採行循環經濟後是否能實質增加其營運效率。 研究結果發現，實施循環經濟後，循環經濟試點單位之技術效率與純技術效率呈現上升的趨勢，且其效率值亦顯著的高於非試點公司，顯示實施循環經濟確實有助於企業技術效率之提升。 / Chinese government has started to implement the first circular economy pilots program since 2005. Circular economy emphasizes the principle of reducing, reusing and recycling resource to promote enterprises to reduce cost, cut down pollution and enhance the use of resource. This research tried to apply Data Envelopment Analysis (DEA) to examine whether the companies improve their operating efficiency after implementing circular economy program. The samples include18 pilot companies and 18 matching samples 4 years data from 2004 to 2007. The research major finding reveals that after implementing the circular economy the pilot companies have significantly improved their technical efficiency and pure technical efficiency than those of non-pilots companies. The result suggests that pilot companies indeed help the companies to gain more efficiency after implement of circular economy.

This Thesis focuses on the health care system in Lithuania and discusses the manifestations and reasons of its inefficiency. The major problems in this sector are inappropriate allocation of funds and inefficient use of resources possessed, which lead to quite low performance of the overall system. The aim of the Thesis is to find relations linking selected factors such as expenditure on pharmaceuticals or number of hospital beds to the health care spending, and to see, which resources are used in the most inefficient way. The empirical research is divided into costs dissection, done by applying fixed effects panel regression, and system efficiency examination, conducted using data envelopment analysis technique. The findings revealed that declining numbers of hospital beds and inpatient consultations do not lower health care spending and might even result in its increase. Meanwhile, data envelopment analysis confirmed that a large proportion of inefficiency in the health care sector can be addressed to overstaffing. It also showed that problems are much higher in Central and Eastern Europe countries, where the resources should be reduced by on average 30% compared to required reductions of 10% in Western Europe. On the other hand, the overall system efficiency analysis revealed that high spending does not necessarily lead to good performance of the system in terms of health status or country’s health care system’s rating. One of the conclusions drawn from the conducted... [to full text] / Šiame darbe yra aptariama Lietuvos sveikatos apsaugos sistema ir jos neefektyvumo apraiškos bei priežastys. Pagrindinės problemos, susijusios su analizuojama sritimi, yra netinkamas lėšų paskirstymas ir neefektyvus turimų išteklių panaudojimas, nulemiantys sistemos žemesnę kokybę. Atliekamo tyrimo tikslas – nustatyti ryšius, siejančius išlaidas sveikatos apsaugai ir įvairius sistemos elementus, kaip kad išlaidos vaistams ar ligoninių lovų skaičius, bei suprasti, kurie iš turimų išteklių panaudojami neefektyviausiu būdu. Empirinis tyrimas yra padalintas į išlaidų nagrinėjimą naudojant fiksuotų efektų panelinę regresiją bei sistemos efektyvumo tyrimą, vykdomą pasitelkiant duomenų apgaubimo analizės techniką. Gauti rezultatai atskleidė, jog mažėjantys ligoninių lovų ar ligonių apsilankymų stacionare skaičiai neskatina išlaidų sveikatos apsaugai smukimo, o netgi gali lemti jų išaugimą. Tuo tarpu duomenų apgaubimo analizė patvirtino tai, jog ypač didelę reikšmę sistemos neefektyvumui turi per didelis sveikatos apsaugos darbuotojų skaičius. Taip pat pastebėta, jog ši problema ypač didelė rytų Europos šalyse, kur ištekliai turėtų būti sumažinti vidutiniškai 30%, lyginant su 10% sumažinimu siūlomu vakarų šalims. Kita vertus, analizuojant bendrą sistemos efektyvumą nustatyta, kad didelės išlaidos sveikatai nebūtinai reiškia gerą gyventojų sveiktos būklę ar aukštus šalies rezultatus sveikatos apsaugos sistemų reitinguose. Viena iš šio darbo išvadų yra ta, jog prieš imantis kokių nors... [toliau žr. visą tekstą]