The Determinants of Efficiency in Terms of the Scale of Operations by Leasing Companies in Ukraine

Анотація

The article contains a regression model for assessing the average value of the efficiency of the scale of operations by leasing companies in Ukraine, which is built on the basis of DEA analysis. To determine the factors that cause a statistically significant impact on performance indicators obtained on the basis of DEA analysis, the authors use the appropriate regression models for panel data. To assess the efficiency of the scale of Ukrainian leasing companies for the analyzed period, the input-oriented DEA model with variable VRS and sustainable CRS scale effects was used. A statistical sample of the performance indicators of 21 leasing companies in Ukraine was formed, which was obtained from their financial and accounting statements for 2019-2020. Due to the significant sensitivity of SE scale efficiency to input and output variables, it was proposed to use an average scale efficiency value based on eight different DEA models. It is noted that if the CCR model determines the success of the management of a leasing company in the transformation of input resources into the output ones, then the efficiency of scale evaluates the correctness of choosing the scale of the leasing company. The analysis showed that the efficiency of the scale of the lessor’s activities in most cases depends on determinants such as administrative costs, fixed assets, and net profit of such companies. The obtained results indicate that with the increase in the size of the leasing company, the efficiency of the scale of their active operations decreases, since with an increase in the size of fixed assets and the volume of administrative costs, the average efficiency of the scale of their activities decreases. It is shown that the greater the net profit, the closer leasing companies work to the optimal scale of activity for them, which is determined by the volume of long-term receivables of the lessor and the size of his assets.

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