Multidimensional Evaluation of the Operational
Efficiency of Special-Purpose State Enterprises:
an Integral Model and the Azerbaijan Context
Zaur Mammadov 
Abstract. In the existing scholarly literature, the evaluation of special-purpose state enterprises (SPSEs) has predominantly relied on financial indicators and corporate governance standards, and more recently, on sustainability frameworks. Such approaches, however, fail to systematically account for the national security dimension, social mission, and functional mandates of these enterprises. The present article introduces an original Multidimensional Efficiency Model (MEM), comprising seven dimensions: financial performance, social impact, innovation, contribution to national security, sustainable development, institutional quality, and international competitiveness. The methodological foundation of the model rests on a weighted integral indicator approach, an adaptive weighting system tailored to enterprise type, and the formulation of the SPSE Efficiency Index (SPSE-EI). A pilot assessment was conducted using the cases of SOCAR, Azerenerji JSC, and Azersu JSC within the Azerbaijani context, followed by a discussion of the model’s applicability. Ultimately, the MEM structurally diverges from existing international frameworks—such as the Balanced Scorecard (BSC), Environmental, Social and Governance (ESG), OECD guidelines, and SOE standards—while offering a more contextually appropriate analytical tool for state enterprise sectors in resource-rich developing countries.
Keywords: special-purpose state enterprise, multidimensional efficiency, integral index, national security contribution, ESG, EBITDA, Azerbaijan