EFFICIENCY ANALYSIS OF THE FINANCIAL LEASING SECTOR IN SERBIA: A DATA ENVELOPMENT APPROACH

Keywords:
financial leasing, efficiency, DEA, market concentration, Serbia

Abstract:
The aim of the paper is to analyze the efficiency of the financial leasing sector in the Republic of Serbia using the Data Envelopment Analysis (DEA) methodology. The BCC model with variable returns to scale was applied to a sample of 13 companies in 2024. The results indicate that seven companies demonstrated high efficiency across all models, while some showed significant inefficiency. Sensitivity analysis revealed that the number of employees and equity are critical inputs. A super-efficiency DEA model confirmed the dominance of Intesa Leasing, while ERB Leasing was identified as an outlier due to its unique business model. The study indicates the importance of careful variable selection and grouping firms by size for reliable results.

CITATION:

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I. Terzić, T. Kaličanin, P. Luty, “Efficiency Analysis Of The Financial Leasing Sector In Serbia: A Data Envelopment Approach,” in FINIZ 2025 - The Importance of Business Agility in the Modern Business Environment, Belgrade, Singidunum University, Serbia, 2025, pp. 68-77. doi: 10.15308/finiz-2025-68-77 

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Terzić, I., Kaličanin, T., Luty, P. (2025). Efficiency Analysis Of The Financial Leasing Sector In Serbia: A Data Envelopment Approach. Paper presented at FINIZ 2025 - The Importance of Business Agility in the Modern Business Environment. doi:10.15308/finiz-2025-68-77

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