అకాడమీ ఆఫ్ స్ట్రాటజిక్ మేనేజ్‌మెంట్ జర్నల్

1939-6104

నైరూప్య

Comparative Analysis of Performance of State-Owned Companies

Nikolay Vladimirovich Kuznetsov, Stanislav Boisovich Reshetnikov, Denis Aleksandrovich Smirnov, Natalya Evgenyevna Kotova

The specifics of using the mathematical toolkit Data Envelopment Analysis (DEA) to analyze the relative performance of state-owned companies have been discussed in the article. The DEA algorithm has been implemented using the Python programming language. Sixteen largest companies from various sectors of the economy included in the MOEX SCI index have been studied using DEA. The performance of the companies has been assessed, based on the ability to use the available assets and borrowed funds to generate profit, cash flow, and state treasury income. It has been shown that four companies currently have the best performance: Transneft, Inter RAO, NCSP, and UAC. The performance of all other companies is, on average, half as much, which can partly be explained by high infrastructure costs.

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