Consumer Dividend Aristocrats: Dynamic DEA Approach

The paper deals with the efficiency analysis of Consumer Dividend Aristocrats. Dividend aristocrats are companies that are members of the S&P 500 and have increased dividend payment for at least the past 25 consecutive years. The study analyses 18 companies. These companies could be analysed from many points of view. One of the possibilities is using Data Envelopment Analysis (DEA Usually, DEA models analyse DMUs in one period. This paper proposes a dynamic DEA model with a convex vector of time weights, which compute the overall efficiency score for every DMU. This paper also proposes a super-efficiency modification of this dynamic DEA model. This paper aims to find the most efficient company or the set of the most efficient companies. These companies could be suitable for potential dividend investors.