Evaluation of efficiency with multiple goals: An application to savings banks

We propose a global efficiency index to be used in the case of organizations that maximize a broad mission with multiple goals that respond to the presence of different stakeholders. The main advantage of our index is its capability to aggregate goals measured in different units and in the absence of market prices. Our approach requires little information concerning the underlying technology that transforms inputs into goals. With this technique, we calculate a different weight for each goal, in accordance with its relative importance within the mission. Furthermore, it is possible to set restrictions on the weights, thus facilitating the calculation of a new index that takes the regulator's preferences into account. We apply this technique to the case of Spanish Savings Banks.