EFFICIENCY ANALYSIS FOR PETROCHEMISTRY INDUSTRY: APLICATION OF DEA AND TOBIT MODEL

The industry of petrochemistry is an entraining industry which represents a great importance for the World and the Turkish economy and has a higher connection among industries. In this study, with the inspection of POAŞ, PETKİM and TÜPRAŞ examples which are operating in Turkish petrochemistry industry, thelevel of efficiency is calculated with Data Envelopment Analysis (DEA) and Malmquist Total Factor Efficiency (TFV) index. Also, sources of inefficiency are shown with Tobit model analysis. According to the efficiency scores, there is a growing return to the scale (TFV industry mean is 1.018). With the consideration of technical efficiency, analyse of the sources of inefficiency with the Tobit model shows that shocks on oil price sand the 2008 global crysis negatively affected the efficiency level of the industry. Within the sources of inefficiency, the result has been reached that the monopolistic characters of firms which forms the industry is also affective.