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TÜRKİYE’DE DEVLET KATKISI SONRASI BİREYSEL EMEKLİLİK SİSTEMİNİN ETKİNLİĞİ

Year 2023, Volume: 25 Issue: 3, 419 - 436, 30.09.2023

Güven Güney , Özlem Topçuoğlu

https://doi.org/10.31460/mbdd.1251665

Abstract

Bireysel emeklilik sistemi (BES) geleceğe yatırım için her geçen gün büyüyen bir fon kaynağıdır. Bu sebeple BES’in etkinliği yalnızca sektördeki firmaları değil makroekonomik düzeyde ülkeleri de ilgilendirmektedir. Araştırma Türkiye’de bir sistem olarak BES’in etkinliğinin tespitini ele almaktadır. Türkiye’de BES etkinliği için 2013-2019 dönemi aylık verileri kullanılmıştır. Yapılan Veri Zarflama Analizleri (VZA-Data Envelopment Analysis-DEA) ile sisteme dahil edilen devlet katkısının BES etkinliğine ne düzeyde etki ettiği belirlenmiştir. İlk olarak ilgili dönem için devlet katkısının olmadığı varsayımı altında etkinlik tahminleri yapılmıştır. Daha sonra tahminlere devlet katkısı değişkeni eklenerek yeniden hesaplamalar gerçekleştirilmiştir. Sonuçlar Türkiye’de BES’e dahil edilen devlet katkısının sistemin etkinliğini artırdığını göstermiştir.

Keywords

Bireysel Emeklilik Sistemi Etkinlik Veri Zarflama Analizi

References

  • Ali, A. S. (2016). Efficiency of private pension companies in Turkey using data envelopment analysis (DEA). In Chaos, Complexity and Leadership 2014, pp. 495-505. Springer International Publishing.
  • Ayçin, E. (2019). Çok kriterli karar verme: bilgisayar uygulamalı çözümler. Nobel Yayıncılık.
  • Aynur, A., Tolga, G., & Dinçer, E. (2020). Türkiye’de faaliyet gösteren bireysel emeklilik şirketlerinin performansının Entropi ve COPRAS yöntemi ile değerlendirilmesi. İstanbul Gelişim Üniversitesi Sosyal Bilimler Dergisi, 7(1), 153-169.
  • Banker, R. D., Charnes, A., & Cooper, W. W. (1984). Some models for estimating technical and scale ınefficiencies in data envelopment analysis. Management Science, 30(9), 1078-1092.
  • Barros, C. P., & Garcia, M. T. M. (2007). Analysing the performance of the pension fund industry with a stochastic frontier model: a case study for Portugal. The Geneva Papers on Risk and Insurance- Issues and Practice, 32, 190-210.
  • Bitkina, I. K. (2018). Analysis of activity efficiency of private pension fund at regional level. In SHS Web of Conferences (Vol. 50, p. 01034). EDP Sciences.
  • Boussofiane, A., Dyson, R. G., & Thanassoulis, E. (1991). Applied data envelopment analysis. European Journal of Operational Research, 52(1), 1-15.
  • Charnes, A., Cooper, W. W., & Rhodes, E. (1978). Measuring the efficiency of decision making units. European Journal of Operational Research, 2(6), 429-444.
  • Chybalski, F. (2016). The multidimensional efficiency of pension system: definition and measurement in cross-country studies. Social Indicators Research, 128(1), 15-34.
  • Cooper, W. W., Deng, H., Huang, Z., & Li, S. X. (2004). Chance constrained programming approaches to congestion in stochastic data envelopment analysis.European Journal of Operational Research, 155(2), 487-501.
  • Demirtaş, Y. E., & Keçeci, N. F. (2020). The efficiency of private pension companies using dynamic data envelopment analysis. Quantitative Finance and Economics, 4(2), 204-219.
  • Draženović, B. O., Hodžić, S., & Maradin, D. (2019). The efficiency of mandatory pension funds: case of Croatia. South East European Journal of Economics and Business, 14(2), 82-94.
  • EGM (2023b), https://www.egm.org.tr/bilgi-merkezi/istatistikler, Erişim Tarihi:13.01.2023.
  • Emeklilik Gözetim Merkezi-EGM (2023a), https://www.egm.org.tr/bireysel-emeklilik/devlet-katkisi, Erişim Tarihi:13.01.2023.
  • Eryılmaz, Y. (2021). Otomatik katılım sistemi sonrası bireysel emeklilik şirketlerinin performanslarının ölçümü: Türkiye örneği. İksad Yayınevi.
  • Farrell, M. J. (1957). The measurement of productive efficiency. Journal of the Royal Statistical Society Series A:Statistics in Society, 120(3), 253–281.
  • Göktolga, Z. G., & Karakış, E. (2018). Bireysel emeklilik şirketlerinin finansal performanslarının bulanık AHP ve VIKOR yöntemi ile analizi. Cumhuriyet Üniversitesi İktisadi ve İdari Bilimler Dergisi, 19(1), 92-108.
  • Gurol, B., & Muge, I. M. A. M. (2018). Measuring the performance of private pension sector by TOPSIS multi criteria decision-making method. Journal of Economics Finance And Accounting, 5(3), 288- 295.
  • Horngren, T. C., Foster, G., & Datar, M. S. (2000). Cost accounting a managerial emphasis. Prentice Hall International, Inc.
  • International Labour Organisation (1984). Into the twenty-first century: the development of social security. International Labour Organisation.
  • Karakaya, A., Kurtaran, A., & Dağlı, H. (2014). Bireysel emeklilik şirketlerinin veri zarflama analizi ile etkinlik ölçümü: Türkiye örneği. Journal of Management and Economics Research, 12(22), 1-23.
  • Kılınç, F., & Küçükçaylı, F. M. (2019). Efficiency analysis of private pension companies (2011- 2016). International Journal of Business Economics and Management Perspectives, 3(2), 102-113.
  • Krpan, M., Pavković, A., & Kedžo, M. G. (2022). Sustainability assessment of pension systems of new EU member states using data envelopment analysis with sensitivity and cross-efficiency analysis. Economic Research-Ekonomska Istraživanja, 35(1), 6648-6666. https://doi.org/10.1080/1331677X.2022.2052335
  • Küçükkıralı, Z., & Aydın, Ü. (2022). Türkiye’de faaliyet gösteren bireysel emeklilik şirketlerinin etkinliği. Verimlilik Dergisi, (2), 286-301.
  • Miťková, V., & Mlynarovič, V. (2007). A performance and risk analysis on the Slovak private pension funds market. Ekonomický časopis (Journal of Economics), 3(55), 232-249.
  • Ova, Alper (2018). Türkiye’deki emeklilik şirketlerinin etkinlik analizi. Muhasebe ve Finansman Dergisi, (79), 139-152.
  • Özbek, A. (2016). Efficiency analysis of gold mining companies through financial statements. International Journal of Academic Research in Business and Social Sciences, 6(10), 273-290.
  • Paradi, J. C., & Schaffnit, C. (2004). Commercial branch performance evaluation and results communication in a Canadian bank––a DEA application.European Journal of Operational Research, 156(3), 719-735.
  • Ramanathan, R. (2003). An introduction to data envelopment analysis: a tool for performance measurement. Sage Publications.
  • Roman, M. D., Toma, G. C., & Tuchiluş, G. (2018). Efficiency of pension systems in the EU countries. Romanian Journal of Economic Forecasting, 21(4), 161-173.
  • Ruzgar, B., Akkaya, A., Campus, I., & Campus, G. (2009). Examining efficiencies of private pension companies in Turkey with data envelopment analysis. InIWW2009-proceeding of the IVth international workshop on applications of wavelets to real world problems, Kocaeli, Turkey.
  • Sezgin, S., & Yıldırım, T. (2015). Türkiye’de bireysel emeklilik sisteminin etkinliği.Eskişehir Osmangazi Üniversitesi İİBF Dergisi, 10(2), 123-140.
  • Shehi, E., Shahini, L., & Dragoshi, G. (2016). Private pension system in Albania. Metody Ilościowe w Badaniach Ekonomicznych, 17(4), 138-148.

EFFICIENCY OF THE INDIVIDUAL PENSION SYSTEM AFTER STATE CONTRIBUTION IN TURKEY

Year 2023, Volume: 25 Issue: 3, 419 - 436, 30.09.2023

Güven Güney , Özlem Topçuoğlu

https://doi.org/10.31460/mbdd.1251665

Abstract

The private pension system (PPS) is a growing source of funds for an individual’s retirement. Thus, the efficiency of PPS concerns not only the companies in the sector, but also the countries at the macroeconomic level. The objective of the research is determining the efficiency of PPS in Turkey. Using monthly data for 2013-2019, the extent to which state contribution affected PPS efficiency is investigated by Data Envelopment Analysis (DEA). Efficiency estimates are calculated first without and then with the government contribution. The results show that the state contribution increased the efficiency of the PPS system.

Keywords

Private Pension System Efficiency Data Envelopment Analysis

References

  • Ali, A. S. (2016). Efficiency of private pension companies in Turkey using data envelopment analysis (DEA). In Chaos, Complexity and Leadership 2014, pp. 495-505. Springer International Publishing.
  • Ayçin, E. (2019). Çok kriterli karar verme: bilgisayar uygulamalı çözümler. Nobel Yayıncılık.
  • Aynur, A., Tolga, G., & Dinçer, E. (2020). Türkiye’de faaliyet gösteren bireysel emeklilik şirketlerinin performansının Entropi ve COPRAS yöntemi ile değerlendirilmesi. İstanbul Gelişim Üniversitesi Sosyal Bilimler Dergisi, 7(1), 153-169.
  • Banker, R. D., Charnes, A., & Cooper, W. W. (1984). Some models for estimating technical and scale ınefficiencies in data envelopment analysis. Management Science, 30(9), 1078-1092.
  • Barros, C. P., & Garcia, M. T. M. (2007). Analysing the performance of the pension fund industry with a stochastic frontier model: a case study for Portugal. The Geneva Papers on Risk and Insurance- Issues and Practice, 32, 190-210.
  • Bitkina, I. K. (2018). Analysis of activity efficiency of private pension fund at regional level. In SHS Web of Conferences (Vol. 50, p. 01034). EDP Sciences.
  • Boussofiane, A., Dyson, R. G., & Thanassoulis, E. (1991). Applied data envelopment analysis. European Journal of Operational Research, 52(1), 1-15.
  • Charnes, A., Cooper, W. W., & Rhodes, E. (1978). Measuring the efficiency of decision making units. European Journal of Operational Research, 2(6), 429-444.
  • Chybalski, F. (2016). The multidimensional efficiency of pension system: definition and measurement in cross-country studies. Social Indicators Research, 128(1), 15-34.
  • Cooper, W. W., Deng, H., Huang, Z., & Li, S. X. (2004). Chance constrained programming approaches to congestion in stochastic data envelopment analysis.European Journal of Operational Research, 155(2), 487-501.
  • Demirtaş, Y. E., & Keçeci, N. F. (2020). The efficiency of private pension companies using dynamic data envelopment analysis. Quantitative Finance and Economics, 4(2), 204-219.
  • Draženović, B. O., Hodžić, S., & Maradin, D. (2019). The efficiency of mandatory pension funds: case of Croatia. South East European Journal of Economics and Business, 14(2), 82-94.
  • EGM (2023b), https://www.egm.org.tr/bilgi-merkezi/istatistikler, Erişim Tarihi:13.01.2023.
  • Emeklilik Gözetim Merkezi-EGM (2023a), https://www.egm.org.tr/bireysel-emeklilik/devlet-katkisi, Erişim Tarihi:13.01.2023.
  • Eryılmaz, Y. (2021). Otomatik katılım sistemi sonrası bireysel emeklilik şirketlerinin performanslarının ölçümü: Türkiye örneği. İksad Yayınevi.
  • Farrell, M. J. (1957). The measurement of productive efficiency. Journal of the Royal Statistical Society Series A:Statistics in Society, 120(3), 253–281.
  • Göktolga, Z. G., & Karakış, E. (2018). Bireysel emeklilik şirketlerinin finansal performanslarının bulanık AHP ve VIKOR yöntemi ile analizi. Cumhuriyet Üniversitesi İktisadi ve İdari Bilimler Dergisi, 19(1), 92-108.
  • Gurol, B., & Muge, I. M. A. M. (2018). Measuring the performance of private pension sector by TOPSIS multi criteria decision-making method. Journal of Economics Finance And Accounting, 5(3), 288- 295.
  • Horngren, T. C., Foster, G., & Datar, M. S. (2000). Cost accounting a managerial emphasis. Prentice Hall International, Inc.
  • International Labour Organisation (1984). Into the twenty-first century: the development of social security. International Labour Organisation.
  • Karakaya, A., Kurtaran, A., & Dağlı, H. (2014). Bireysel emeklilik şirketlerinin veri zarflama analizi ile etkinlik ölçümü: Türkiye örneği. Journal of Management and Economics Research, 12(22), 1-23.
  • Kılınç, F., & Küçükçaylı, F. M. (2019). Efficiency analysis of private pension companies (2011- 2016). International Journal of Business Economics and Management Perspectives, 3(2), 102-113.
  • Krpan, M., Pavković, A., & Kedžo, M. G. (2022). Sustainability assessment of pension systems of new EU member states using data envelopment analysis with sensitivity and cross-efficiency analysis. Economic Research-Ekonomska Istraživanja, 35(1), 6648-6666. https://doi.org/10.1080/1331677X.2022.2052335
  • Küçükkıralı, Z., & Aydın, Ü. (2022). Türkiye’de faaliyet gösteren bireysel emeklilik şirketlerinin etkinliği. Verimlilik Dergisi, (2), 286-301.
  • Miťková, V., & Mlynarovič, V. (2007). A performance and risk analysis on the Slovak private pension funds market. Ekonomický časopis (Journal of Economics), 3(55), 232-249.
  • Ova, Alper (2018). Türkiye’deki emeklilik şirketlerinin etkinlik analizi. Muhasebe ve Finansman Dergisi, (79), 139-152.
  • Özbek, A. (2016). Efficiency analysis of gold mining companies through financial statements. International Journal of Academic Research in Business and Social Sciences, 6(10), 273-290.
  • Paradi, J. C., & Schaffnit, C. (2004). Commercial branch performance evaluation and results communication in a Canadian bank––a DEA application.European Journal of Operational Research, 156(3), 719-735.
  • Ramanathan, R. (2003). An introduction to data envelopment analysis: a tool for performance measurement. Sage Publications.
  • Roman, M. D., Toma, G. C., & Tuchiluş, G. (2018). Efficiency of pension systems in the EU countries. Romanian Journal of Economic Forecasting, 21(4), 161-173.
  • Ruzgar, B., Akkaya, A., Campus, I., & Campus, G. (2009). Examining efficiencies of private pension companies in Turkey with data envelopment analysis. InIWW2009-proceeding of the IVth international workshop on applications of wavelets to real world problems, Kocaeli, Turkey.
  • Sezgin, S., & Yıldırım, T. (2015). Türkiye’de bireysel emeklilik sisteminin etkinliği.Eskişehir Osmangazi Üniversitesi İİBF Dergisi, 10(2), 123-140.
  • Shehi, E., Shahini, L., & Dragoshi, G. (2016). Private pension system in Albania. Metody Ilościowe w Badaniach Ekonomicznych, 17(4), 138-148.
There are 33 citations in total.

Details

Primary Language Turkish
Subjects Business Administration
Journal Section MAIN SECTION
Authors

Güven Güney 0000-0001-8324-2870

Özlem Topçuoğlu 0000-0002-9821-5856

Early Pub Date September 20, 2023
Publication Date September 30, 2023
Submission Date February 15, 2023
Published in Issue Year 2023 Volume: 25 Issue: 3

Cite

APA Güney, G., & Topçuoğlu, Ö. (2023). TÜRKİYE’DE DEVLET KATKISI SONRASI BİREYSEL EMEKLİLİK SİSTEMİNİN ETKİNLİĞİ. Muhasebe Bilim Dünyası Dergisi, 25(3), 419-436. https://doi.org/10.31460/mbdd.1251665
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