The performance measurement of listed companies of the agribusiness sector on the stock exchange of Thailand R., Peng K., Maichum K. (2017): The performance measurement of listed companies of the agribusiness sector on the stock exchange of Thailand. Agric. Econ. – Czech, 63: 234-245.
download PDF
Listed companies in the agribusiness sector of the stock exchange play a key role in driving the economic system of Thailand. They have an important role in terms of being the producers of agricultural commodities by covering all products from the upstream to downstream. The performance measurements of listed companies contain important information for forecasting the trends of agricultural production and yield. The paper studied and considered much of the literature on the performance measurement of organizations to look for relative variables and the optimal methodology. The study used panel data from 2011–2014, which collected the listed annual companies’ statements. The aim of the study was to employ the Slacks Based Measure context-dependent Data Envelopment Analysis (SBM context-dependent DEA) for evaluating the efficiency in Decision Making Units (DMUs). The SBM context-dependent DEA was used to measure the performance of listed companies by employing attractiveness and progress scores. The results showed that when a listed company has a higher attractiveness and lower progress score, it has a better performance than its competitors and does not need to improve its efficiency. Therefore, the empirical results of the study can help farmers and governments to realize the trends of agricultural productivity and also help the listed companies to understand the characteristics of their competitors, leading to improvements in their organizations.  
Aliabadi S., Dorestani A., Balsara N. (2013): The most value relevant accounting performance measure by industry. Journal of Accounting and Finance, 1: 22–34.
Chang Y.-T., Park H.-S., Jeong J.-B., Lee. J.-W. (2014): Evaluating economic and environmental efficiency of global airlines: A SBM-DEA approach. Transportation Research Part D: Transport and Environment, 1: 46–50.
Charnes A., Cooper W.W., Rhodes E. (1978): Measuring the efficiency of decision making units. European Journal of Operational Research, 2, 429-444
Chen Yao, Zhu Joe (2003): DEA Models for Identifying Critical Performance Measures. Annals of Operations Research, 124, 225-244
Cheng H., Lu Y.-C., Chung J.-T. (2009): Performance benchmarking by improved slack-based context-dependent DEA for the hotel industry in Taiwan. Management Review, 28: 141–146.
Cheng Hilary, Lu Yi-Chuan, Chung Jen-Tsung (2010): Improved slack-based context-dependent DEA – A study of international tourist hotels in Taiwan. Expert Systems with Applications, 37, 6452-6458
Dyson R.G., Allen R., Camanho A.S., Podinovski V.V., Sarrico C.S., Shale E.A. (2001): Pitfalls and protocols in DEA. European Journal of Operational Research, 132, 245-259
Ertuğrul İrfan, Karakaşoğlu Nilsen (2009): Performance evaluation of Turkish cement firms with fuzzy analytic hierarchy process and TOPSIS methods. Expert Systems with Applications, 36, 702-715
Färe Rolf, Knox Lovell C.A (1978): Measuring the technical efficiency of production. Journal of Economic Theory, 19, 150-162
Hasan I., Malkamäki M., Schmiedel H. (2003): Technology, automation, and productivity of stock exchanges: International evidence. Journal of Banking & Finance, 9: 1743–1773.
Helkiö Pekka, Ala-Risku Timo (2012): Local environment as a pitfall in the performance measurement of multi-site operations. Operations Management Research, 5, 81-86
Hoevenaars Roy P.M.M., Molenaar Roderick D.J., Schotman Peter C., Steenkamp Tom B.M. (2008): Strategic asset allocation with liabilities: Beyond stocks and bonds. Journal of Economic Dynamics and Control, 32, 2939-2970
Izadikhah Mohammad (2011): Context-Dependent Data Envelopment Analysis with Interval Data. American Journal of Computational Mathematics, 01, 256-263
Kadoya Susumu, Kuroko Takashi, Namatame Takashi (2008): Contrarian investment strategy with data envelopment analysis concept. European Journal of Operational Research, 189, 120-131
Liu Shiang-Tai (2011): Performance measurement of Taiwan financial holding companies: An additive efficiency decomposition approach. Expert Systems with Applications, 38, 5674-5679
Lozano S., Gutiérrez E. (2011): Slacks-based measure of efficiency of airports with airplanes delays as undesirable outputs. Computers & Operations Research, 38: 131–139.
MORITA H, HIROKAWA K, ZHU J (2005): A slack-based measure of efficiency in context-dependent data envelopment analysis. Omega, 33, 357-362
Nikoomaram H., Mohammadi M., Mahmoodi M. (2010): Efficiency measurement of enterprises using the financial variables of performance assessment and Data Envelopment Analysis. Applied Mathematical Sciences, 4: 1843–1854.
Seiford Lawrence M., Zhu Joe (2003): Context-dependent data envelopment analysis—Measuring attractiveness and progress. Omega, 31, 397-408
Serifsoy Baris (2007): Stock exchange business models and their operative performance. Journal of Banking & Finance, 31, 2978-3012
Stock exchange of Thailand (2014): Annual Financial Report of Agriculture and Food Industry in 2014. Available at http://marketdata.
Tan Yong, Floros Christos (2012): Stock market volatility and bank performance in China. Studies in Economics and Finance, 29, 211-228
Tangen Stefan (2005): Improving the performance of a performance measure. Measuring Business Excellence, 9, 4-11
The Customs Department of Thailand (2014): Import-Export statistic of agricultural product of Thailand. Available at
Tone Kaoru (2001): A slacks-based measure of efficiency in data envelopment analysis. European Journal of Operational Research, 130, 498-509
Tone Kaoru (2002): A slacks-based measure of super-efficiency in data envelopment analysis. European Journal of Operational Research, 143, 32-41
Vaatanen Juha, Podmetina Daria, Pillania Rajesh K (2009): Internationalization and Company Performance: A Study of Emerging Russian Multinationals. Multinational Business Review, 17, 157-178
Watanabe Michio, Jinji Naoto, Kurihara Mitsuyo (2009): Is the development of the agro-processing industry pro-poor?: The case of Thailand. Journal of Asian Economics, 20, 443-455
Zhou P., Ang B.W., Poh K.L. (2008): A survey of data envelopment analysis in energy and environmental studies. European Journal of Operational Research, 189, 1-18
download PDF

© 2021 Czech Academy of Agricultural Sciences | Prohlášení o přístupnosti