THE EFFICIENCY OF MANDATORY PENSION FUNDS: CASE OF CROATIA

Main Article Content

Bojana Olgić Draženović Sabina Hodžić Dario Maradin

Abstract

The phenomenon of pension funds industry growth in the last decades is inevitable in Central and Eastern European countries including Croatia that was enacted by the systemic pension reforms and introduction of mandatory private individual schemes. One of the main roles 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.


 The aim of this paper is to examine performance of pension funds in Croatia, or more precisely, to measure the mandatory pension funds technical efficiency. By applying the methodology of data envelopment analysis on a sample of 12 mandatory pension funds for 2015-2018 period, we provide further evidence on their efficiency level. The results have shown very small differences among relative inefficient pension funds.

Article Details

How to Cite
Olgić Draženović, B., Hodžić, S., & Maradin, D. (2019). THE EFFICIENCY OF MANDATORY PENSION FUNDS: CASE OF CROATIA. The South East European Journal of Economics and Business, 14(2), 82-94. Retrieved from http://journal.efsa.unsa.ba/index.php/see/article/view/1107
Section
Scientific and Professional papers: Economics and Business
Author Biographies

Bojana Olgić Draženović, University of Rijeka, Faculty of Economics and Business

Associate Professor
Faculty of Economics and Business
University of Rijeka
E-mail: bojana.olgic.drazenovic@efri.hr

Sabina Hodžić, University of Rijeka, Faculty of Tourism and Hospitality

Assistant Professor
Faculty of Tourism and Hospitality Management
University of Rijeka
E-mail: sabinah@fthm.hr

Dario Maradin, University of Rijeka, Faculty of Economics and Business

Assistant Professor
Faculty of Economics and Business
University of Rijeka
E-mail: dario.maradin@efri.hr