국내 창업투자회사의 상대적 효율성 및 생산성 분석 -글로벌금융위기시기-

주현태,박형중 한국기업경영학회 2011 기업경영연구 Vol.18 No.4

This paper examines the efficiency and the efficiency change over time of the Korean venture capital companies through the global financial crisis period 2006~2010 by employing data envelopment analysis (DEA) and Malmquist Index (MI). The efficiency of DMU, which is decomposed into three components such as a technical efficiency, a pure technical efficiency, and a scale efficiency, is measured by using DEA CCR model and DEA BCC model. The efficiency change over time of DMU is measured as a pure technical efficiency change, a scale efficiency change, and a technical change by calculating Malmquist Index. Our research model includes a number of employees, amount of total equity, and amount of noncurrent asset as input variables and investment asset and EBIT as output variables. Thirty eight sample companies are selected from KIS-value and grouped into eight large and thirty small&medium firms based on a firm size. DEA-Solver Pro 7.1 version Software Package is utilized for calculating the efficiency and the efficiency change over time of DMU. The results of this study are as follows: 1) The decreased average technical efficiency through the global financial crisis period had not recovered until 2010 and this can be attributed mainly to the decrease in an average pure technical efficiency. 2) The technical efficiency of small&medium firms shows higher than that of large firms through 2006~2010. This seems largely owing to a pure technical efficiency gap between small&medium and large firms. 3) The average efficiency change over time of sample firms through 2006~2010 had increased by 11.58% annually. This means that the productivity of Korean venture capital firms had increased in spite of global financial crisis. 4) The pure technical efficiency change,the scale efficiency change, and the technical change had increased annually by 10.92%, 18.47%, and 6.65% respectively. Therefore, the productivity of Korean venture capital companies in 2010 had recovered from financial crisis. We find that the increase in the scale efficiency change contributed largely to the increase in the productivity. 5) The efficiency change over time of large firms reported higher than that of small&medium firms through financial crisis period except for 2008~2009. This can be attributed mainly to the fact that the pure technical efficiency change of large firms showed higher than that of small&medium firms. Overall, large firms seems to lead small&medium firms in the technical change. 본 연구는 DEA CCR모형, BCC모형 및 맴키스트지수를 이용하여 글로벌금융위기시기전후, 즉2006년부터 2010년도까지 우리나라 38개 외감 창업투자회사들을 대상으로 상대적 효율성 및 생산성변화를측정하였다. 기술효율성은 순수기술효율성, 규모효율성으로 분해하여, 생산성변화는 순수기술효율성변화, 규모효율성변화, 기술변화로 분해하여 측정하였다. 연구모형의 투입변수로는 종업원 수, 자본총계, 비유동자산을, 산출변수로는 투자자산과 영업수익을 선정하였다. 금융위기기간에 걸쳐 하락한 평균 기술효율성은 2010년 말까지 회복하지 못하고 있는 상황으로 이 기간 동안 순수기술효율성이 규모효율성에 비해 상대적으로크게 하락하였고 이것이 평균 기술효율성 하락에 크게 영향을 미쳤음을 보여준다. 한편 글로벌금융위기전후인 2006년부터 2010년까지 표본 창업투자회사들의 평균생산성변화는 1.1158로 매년 11.58%씩 증가하고 있는데, 이는 금융위기에도 불구하고 생산성수준이 상승하였음을 보여 준다. 이러한 생산성변화의 주요원인은규모효율성의 변화에 기인함을 확인할 수 있다.

R&D투자와 수출의 생산효율성 제고 효과-SFA기법을 활용한 실증분석-

신범철,이의영 한국기업경영학회 2010 기업경영연구 Vol.17 No.1

This paper empirically examines determinants of technical efficiency of Korean manufacturing firms over the period 2000~2005, focusing on the effects of R&D expenditure and exports. In particular, the paper comparatively analyzes the technical efficiency of large firms and SMEs (small medium sized enterprises) by using the micro panel data. Two main approaches to the systematic measurement of production technical efficiency have been developed in the economic literature: DEA (data envelopment analysis) and SFA (stochastic frontier analysis). The former involves the application of the linear programming technique to trace the efficiency frontier, while the latter applies the econometric technique to estimating the various production frontiers. However, the usefulness of DEA for modeling technical efficiencies has been controversial, specially among econometricians. The main drawback of DEA is that any deviation of an observation from the production frontier must be attributed to inefficiency. Therefore, there is no provision for statistical noise or measurement error in the model. For this reason, we employ parametric SFA to measure the technical efficiencies. In analyzing the technical production efficiency, many studies employ two-step estimation method. In the first step, they estimate a stochastic production function and predict firm level efficiencies using various forms of production functions. Then, in the second step, the predicted efficiencies are regressed on firm-specific variables in identifying any sources for differences in predicted efficiencies across firms. However, the two-step method can suffer an inconsistency problem caused by assuming individual independence of the inefficiency effects in both estimation stages. To alleviate this inconsistency problem, we estimate simultaneously a stochastic frontier production function and the technical inefficiency model by the maximum likelihood estimation. The empirical results of the paper can be summarized as followings. First, the empirical results suggest that ignoring firm-specific heterogeneity in estimation of production function allowing for technical inefficiencies may lead to biased estimates of technical inefficiency. Second, production technology of manufacturing firms during the sample period is found to be progressive and translog production function can represent firm technology better than Cobb-Douglas production function could. Given the translog production function, the hypothesis that manufacturing firms have no technical inefficiency can be rejected statistically. This implies that the stochastic fron tier approach might be more appropriate rather than the standard production function approach. Third, exports expansion would not lead to an increase in technical efficiency of manufacturing firms over the period after Korea's financial crisis. Fourth the empirical results suggest that there is an inverse U shape of non-linear relationship between technical inefficiencies and the size of the firm. This implies that an expansion of firm size may worsen production technical efficiency over some level of firm size. Finally, the empirical results show that R&D expenditure would be positively associated with technical efficiency in small and medium sized firms but not in large firms. This suggests that government subsidy for enhancing productivity would be more effective in small and medium sized firms than in large firms. 이 논문은 2000~2005년 기간 동안 한국 제조업체의 R&D투자와 수출의 확대가 생산의 기술적 효율성에 미치는 효과를 확률변경분석(SFA) 기법을 활용하여 실증·분석하였다. 특히, R&D집중도와 수출비중이 생산효율성에 미치는 효과를 중소기업과 대기업을 구분하여 비교하였다. 이 연구의 핵심적인 결과를 요약하면, 우선 수출과 R&D, 그리고 생산성간의 관계를 분석함에 있어서 기업 간 기술적 이질성을 고려하는 것이 중요하다는 것이다. 따라서 산업별 기술적 효율성에 관한 분석만으로 기업의 고유한 특수적 상이성을 파악하는데 한계가 있음을 보이고 있다. 둘째, 고려된 표본기간 내에서 국내 제조업체의 생산기술은 기술진보적이며 콥-더글라스 형태보다는 초월대수 생산함수가 보다 적합함이 통계적으로 나타났다. 또한 고려된 모든 유형의 생산함수에서 기술적 비효율성이 없다는 귀무가설이 통계적으로 기각될 수 있었다. 이는 국내 기업들이 비효율적으로 생산하기 때문에 일반적인 생산함수를 사용하는 것보다 확률변경 생산함수를 사용하여 추정하는 것이 보다 적합함을 의미한다. 셋째, 전체적으로 수출비중은 통계적으로 기술적 효율성에 부정적인 영향을 미치는 것으로 나타났다. 즉, 기업의 매출액 대비 수출 증가가 기업의 생산 효율성을 오히려 떨어뜨린다는 것이다. 이 결과는 한국의 수출 증대가 생산성 향상과 고용 증가를 유발한다고 하더라도 기술적 효율성에는 오히려 부정적인 영향을 미치고 있음을 시사한다. 넷째, 생산의 기술적 효율성과 기업규모는 逆U자형의 비선형관계를 갖고 있는 것으로 나타났다. 이는 기업규모가 확대됨에 따라 생산의 효율성이 증대되지만 일정 수준 이상으로 확대될 경우 오히려 효율성은 증가된다는 것을 의미한다. 마지막으로, 제조업체 전반적으로 R&D집중도는 생산효율성을 향상시키는 것으로 나타났다. 기업규모에 따라 구분해서 보면 R&D집중도 증가가 중소기업에서는 생산효율성을 향상시키는 것으로 나타나지만 대기업에서는 통계적으로 유의한 영향을 미치지 못하는 것으로 나타났다. 이러한 결과는 정부의 R&D 지원이 대기업 보다는 중소기업에서 생산효율성 제고 효과가 크게 발생할 수 있음을 시사한다

Technical Efficiency of Professional Soccer Players in Europe -Using English Premier League Data-

( Tae Ho Kim ),( Seung Min Song ) 한국EU학회 2007 EU학연구 Vol.12 No.1

This paper proposes a scheme to estimate the technical efficiency of sports players as performance measure by Data Envelopment Analysis (DEA), to search for benchmark players by using technical efficiency, relative distance analysis, and frequency used as comparators analysis, and to identify factors which affect the technical efficiency by a kind of regression analysis. The result of technical efficiency estimation shows that there exists a substantial opportunity for improvement in technical efficiency of players and also the heterogeneity in the technical efficiency among players playing in the English Premier League. Benchmarking analysis gives us 7 benchmarks for inefficient players. Double limit Tobit analysis shows that age, height, salary of players affect the technical efficiency of players and winning point and the size of attendance of players` team also affect the technical efficiency of players. However, nationality, staying year in current team, remaining contract year do not affect technical efficiency.

Technical Efficiency and It’s Determinants on Korean Rice Farmers

Suhwan Lee,이종하 조선대학교 지식경영연구원 2024 기업과 혁신연구 Vol.47 No.1

This study examines the technical efficiency of Korean rice farms from 2013 to 2017 using the Korean Farm Household Economic Survey. We employ the true fixed/random effect model to estimate the technical efficiency. In addition, we examine the determinants of their technical efficiency by considering the households of rice farmers and the regional characteristics of rice production. The empirical analysis reveals that rice production in South Korea exhibited an increasing return to scale from 2013 to 2017. Secondly, among the four input variables, labor input exhibits the largest elasticity, and the size of the elasticity remains similar, despite some variables such as land and intermediate costs having a very small negative effect on rice production. Thirdly, the results of the technical efficiency factor indicate that full-time work, education level, being male, and higher age positively influence rice farm technical efficiency. Conversely, factors such as the debt ratio, share of agricultural subsidies, share of non-farm revenue, and family size have a negative impact on rice farm technical efficiency. Lastly, an analysis of technical efficiency in three regions with similar rice yields shows that the average technical efficiency of rice farms is 0.964. This implies that rice farmers could increase production by 3.6% using the same inputs. Furthermore, the North and South regions exhibit higher technical efficiency compared to rice farmers in the Central region. These results suggest that it is necessary for policymakers to focus on improving access to labor, education, and credit for rice farmers. In addition, encouraging full-time farming and targeting support for younger or male farmers might be beneficial to improving the technical efficiency of rice farms. Regional disparities in efficiency also imply that tailored support programs could be effective. rice farms.

An Analysis of Technical Efficiency and Determinants of Rice Production Efficiency in Takeo Province, Cambodia

림 소폰띠다,김상만,손우총,이진,이종인 한국국제농업개발학회 2019 韓國國際農業開發學會誌 Vol.31 No.2

Rice is the main staple crop and one of the major sources of living for farmers in Cambodia. However, rice production in the country faces many problems such as poor farming practices, unavailable good seeds, destroyed irrigation systems, poor soil fertility, improper insect and pest management, drought and inefficient use of available technologies. These problems cause to reduce rice productivity in Cambodia. Farm efficiency has been related to resource use efficiency and achievement of higher productivity. The main purpose of this study was to estimate technical efficiency level and to identify the factors influencing the efficiency levels of rice production in Cambodia. In this study, the data used were based on a direct interview survey of 80 randomly selected rice farm households in the 2016 production year in Tram Kak and Kiri Vong districts of Takeo province, Cambodia. An input-orientation data envelopment analysis (DEA) was used to examine technical efficiency scores and Tobit regression model was used to identify the factors influencing efficiency levels of rice production. The study result revealed that the average technical efficiency of farmers in the study area was 0.67, whereas rice producers could reduce their input costs by 33% while holding the same production level. Four factors were found influencing the efficiency levels of rice production. The Tobit regression model estimated that the factors including sex of family head, the main occupation of the family head and the number of rice growing times were found to positively influence technical efficiency, whereas the type of seeds planted/ variety was found to negatively influence technical efficiency. This result suggests that the policy-makers should pay more attention to technical training, providing financial support and strengthening the research institutions responsible for seed production and multiplication for farmers to increase their technical efficiency in rice production.

An Analysis of Technical Efficiency and Determinants of Rice Production Efficiency in Takeo Province, Cambodia

Sophornthida Lim,Sang-man Kim,Yu-cong Sun,Jin Lee,Jong-In Lee 한국국제농업개발학회 2019 韓國國際農業開發學會誌 Vol.31 No.2

본 연구의 목적은 농가의 사회·경제적 특성을 조사하여 대상 지역 쌀 생산의 기술적 효율성 수준을 분석하는 것이다. 또한 이 연구에서는 캄보디아의 쌀 생산성 수준에 영향을 미치는 요인들을 확인하고자 하였다. 이 연구에 사용된 정보는 2016년에 캄보디아 남부에 위치 하는 다케오주의 트람꺽군과 키리웡군에서 무작위로 선택된 80개의 농가를 면접 조사한 자료이다. 농가의 사회·경제적 특성을 조사하기 위하여 기술 관련 통계 자료가 활용되었다. 또한 inputorientation data envelopment analysis는 기술적 효율성 점수를 추정하는데 사용되었다. 더불어 Tobit regression은 쌀 생산의 효율성 수준에 영향을 미치는 요인을 확인하는데 사용되었다. 연구 결과에 따르면 연구 결과에 따르면 연구 분야 농가의 평균 기술 효율은 0.67인 반면, 쌀 생산업자들은 같은 생산 수준을 유지하면서도 투입 비용을 33% 절감할 수 있는 것으로 나타났다. 다케오주의 뜨람꺽군 및 키리웡군의 쌀 생산의 효율성 수준에 영향을 미치는 네 가지 요인이 발견되었다. 토빗 회귀분석 결과, 가장의 성별, 가장의 주요 직업, 쌀의 재배 횟수를 포함한 요인들이 기술적 효율성에 긍정적인 영향을 미치는 반면 심어진 종자와 품종은 기술적 효율성에 부정적인 영향을 미치는 것으로 추정되었다. 쌀 생산 규모의 효율성은 0.80로 분석되었으며, 이는 농민들이 적정 규모에 가깝게 운영 하고 있음을 나타낸다. 이는 생산관련 비효율의 원인이 투입 자원의 잘못된 배분이나 부적절한 사용으로 인한 것임을 의미 한다. Rice is the main staple crop and one of the major sources of living for farmers in Cambodia. However, rice production in the country faces many problems such as poor farming practices, unavailable good seeds, destroyed irrigation systems, poor soil fertility, improper insect and pest management, drought and inefficient use of available technologies. These problems cause to reduce rice productivity in Cambodia. Farm efficiency has been related to resource use efficiency and achievement of higher productivity. The main purpose of this study was to estimate technical efficiency level and to identify the factors influencing the efficiency levels of rice production in Cambodia. In this study, the data used were based on a direct interview survey of 80 randomly selected rice farm households in the 2016 production year in Tram Kak and Kiri Vong districts of Takeo province, Cambodia. An input-orientation data envelopment analysis (DEA) was used to examine technical efficiency scores and Tobit regression model was used to identify the factors influencing efficiency levels of rice production. The study result revealed that the average technical efficiency of farmers in the study area was 0.67, whereas rice producers could reduce their input costs by 33% while holding the same production level. Four factors were found influencing the efficiency levels of rice production. The Tobit regression model estimated that the factors including sex of family head, the main occupation of the family head and the number of rice growing times were found to positively influence technical efficiency, whereas the type of seeds planted/ variety was found to negatively influence technical efficiency. This result suggests that the policy-makers should pay more attention to technical training, providing financial support and strengthening the research institutions responsible for seed production and multiplication for farmers to increase their technical efficiency in rice production.

DEA Window를 활용한 국내컨벤션센터의 효율성 변화 분석에 관한 연구

박진선 ( Jinsun Park ),김철원 ( Chulwon Kim ),김봉석 ( Bongseok Kim ) 한국질서경제학회 2015 질서경제저널 Vol.18 No.2

The purpose of this study is to analyze trends of six of Korea Convention Center’s efficiency of CCR, BCC models and scale efficiency through DEA Window from 2006 to 2013. In order to analyze the efficiency, I selected two inputs (input costs, tangible assets) and one output (revenue) then the average of efficiency trends and the stability of each convention center were examined. A research result shows that the efficiency of the technique in Korea Convention Centers is gradually increasing. The technical efficiency between the convention centers in Seoul and other provinces is experiencing a difference in efficiency. Convention centers in Seoul show a high efficiency and convention centers in province show a low efficiency. The convention industry is related not only to conferences but also to tourism, accommodation, transportation, catering and participation of residents. Thus, the convention centers in province seem to be needed a marketing strategy associated with the cultural heritage to hold conventions on the basis of infrastructure. A grade of pure technical efficiency is gradually declining contrary to the technical efficiency. In addition to the pure technical efficiency measurement, the scale efficiency is measured to examine the causes of the inefficiency of convention centers by the pure technical efficiency and the technical efficiency. The examination explains the result of inefficiency by the scale factor and the technique factor. As a result of the scale efficiency analysis, it is confirmed that the increasing trend of technical efficiency was affected by increasing the scale efficiency rather than the technique factor. Thus, this research suggests that convention centers should make an effort to improve the efficiency of technical factors based on the scale efficiency for the future. They should control investment of the excessive input cost and tangible assets. Through a marketing associated with a various convention sights, the revenue will be increased. Lastly, I hope this research helps improvement of Korea convention center management.

A Study on the Management Efficiency of “Seolhyang” strawberries Farms Used SBM-DEA Model with Undesirable Output

Yu-Cong Sun(손우총),Shi-Yong Piao(박세영),Shuang-Yu Hu(호쌍우),Sung-Chan Kim(김성찬),Jong-In Lee(이종인) 한국산학기술학회 2021 한국산학기술학회논문지 Vol.22 No.7

본 연구에서는 농촌진흥청에서 조사한 ‘표준소득자료집’의 99명의 설향 딸기농가 조사사료를 이용하여 분석하였다. 이러한 자료로 SBM-DEA 모델을 활용하여 이산화탄소 배출량을 고려한 설향 딸기농가의 경영효율성 분석을 실시하였다. 분석결과 99명 농가 중 14명(14.14%) 농가의 기술효율성은 불변규모수익(CRS)일 경우, 효율적인 것으로 나타났다. 반면, 가변규모수익(VRS)의 경우, 99명 농가 중 30명(30.3%) 농가의 순수기술효율성은 효율적인 것으로 나타났다. TEVRS 가설, TECRS 가설, SE 가설을 통해 분석한 결과, 설향 딸기농가의 평균기술효율성은 0.53, 0.35, 0.60으로 나타났다. 그리고 Tobit모형을 통해 순수기술효율성에 영향을 미치는 요인을 분석하였다. 분석 결과 이산화탄소 배출, 난방여부, 재배면적 등 요인이 순수기술효율성에 부정적인 영향을 미치는 것으로 나타났다. 반면, 유기 비료의 비율은 높을수록 순수기술효율성이 높아지는 것으로 나타났다. 이는 유기비료를 많이 사용할수록 순수기술효율성에 긍정적인 영향을 미치는 것을 의미한다. 또한, 딸기농가의 재배경력은 순수기술효율성에 통계적으로 영향을 미치지 않는 것으로 나타났다. 따라서, 살충제 및 농약비용을 줄여야 하며, 지속가능한 딸기 생산을 위해 유기비료를 사용해야한다. 또한, 이산화탄소 배출 감소에 관한 농업정책을 설립할 필요가 있다. Ninety-nine strawberry farmers were assessed. A slacks-based and data envelopment analysis measure (SBM-DEA) of efficiency with an undesirable output was used to analyze the technical efficiency of farmers by taking carbon dioxide (CO2) as the undesirable output. Only 14 (14.14%) were technically efficient under a constant return to scale (CRS) and scale efficiency, while 30 (30.3%) households were technically efficient under variable return to scale (VRS). On average, the estimated technical efficiency scores of "Seolhyang" strawberry farmers in the study area under the technical efficiency of the CRS (TECRS) assumption, technical efficiency of the VRS (TEVRS) assumption, and scale efficiency (SE) assumption were approximately 0.35, 0.53, and 0.60, respectively. The Tobit regression model was used to identify the factors influencing the technical efficiency of "Seolhyang" strawberries. CO2 emissions, heating or not, and the land area negatively affected the technical efficiency, while the organic fertilizer ratio positively affected the technical efficiency. The effects of strawberry planting experience on the technical efficiency were not statistically significant. Therefore, agricultural policies should include measures to reducing the use of pesticides and fuels that emit high emissions and improve the use of organic fertilizers for sustainable strawberry development.

세계철강 기업들의 배분비효율성

이성욱(Sung Wook Yi),이상열(Sang-Ryul Lee),오상훈(Sang Hoon Oh) 한국관리회계학회 2013 관리회계연구 Vol.13 No.2

본 연구의 목적은 세계철강 기업들을 대상으로 생산에 투입되는 투입요소의 배분에 따라 이들 기업에 배분비효율이 존재할 수 있다는 것을 검증하는데 있다. 이러한 배분비효율이 중요한 이유는 세계철강 산업분야에서 기업들 간 경쟁이 심화되고 있기 때문에, 생산을 하는데 소모되는 투입요소들의 배분비효율을 줄여서 전체 효율성을 올리는 것이 기업들의 향후 수익성 개선에 중요하기 때문이다. 하지만, 지금까지 다른 선행연구들에서는 배분비효율에 대해서 연구가 거의 없었다. 많은 선행논문들은 배분비효율이 아닌 기술효율성을 측정하고, 이 기술효율성을 순수기술효율성과 규모효율성으로 구분하여 효율성이 떨어지는 원인을 분석하며, 이러한 효율성 수치들과 생산성 및 수익성의 관계를 분석하는데 초점을 두었다. 배분비효율을 검증하기 위하여 본 연구에서는 BCC 모형을 이용하여 단일 투입변수를 가정한 총기술배분효율성을 측정하고, 또한 다수의 투입변수를 가정한 기술효율성을 측정하였다. 그 후 이 두 효율성 측정치들의 분포를 비교하여 배분비효율의 존재유무를 검증하였다. 연구결과는 모든 연구대상 연도에서 세계철강 산업의 기업들이 배분비효율을 가지고 있는 것으로 나타났다. 이는 이들 배분비효율을 가진 기업들은 향후 배분비효율을 줄여 총기술배분효율성을 향상시킬 수 있음을 의미한다. 또한 추가분석으로 총기술배분효율성, 기술효율성, 배분효율성들의 값의 추세를 살펴본 결과 총기술배분효율성을 향상시키기 위해서 배분비효율이 적어야 한다는 것을 알 수 있었다. 그리고 선진국과 개도국을 비교한 결과 개도국의 경우 배분효율성이 더 높고 원가항목별로 더 낮은 매출액 당 원가를 투입하고 있음을 알 수 있었다. 이 연구의 공헌점은 배분비효율의 존재를 검증함으로써 향후 총기술배분효율성 증대를 위해 배분비효율을 관리할 필요성을 기업들에게 제시해준다는 점에 있다. 또 다른 공헌 점으로 이 연구에서는 경쟁 산업에서 투입요소의 가격은 같을 것이라는 가정 하에 가격정보가 없는 경우 배분비효율을 구하는 방법을 제시하였다. 이러한 계산방법은 DEA를 사용한 연구에서 효율성을 더 세분화하여 분석할 수 있게 해주며, DEA분석의 적용범위를 확장시켜 분석의 유용성을 증진시킨다. The purpose of this study is to examine whether firms in world steel industry have the allocative inefficiency caused by allocation of inputs for production. This study would be crucial to firms having a high competition intensity, because firms profitability comes from not only the increase in technical efficiency but also the decrease in allocative inefficiency. Most prior researches, however, have analyzed overall technical efficiency by CCR model and pure technical efficiency by BCC model, and then calculated scale efficiency with the ratio of overall technical efficiency divided by pure technical efficiency to find out what is the cause of less efficiency. It is very rare to study for allocative inefficiency. To test allocative inefficiency, first, the aggregate the technical and allocative efficiency is measured by BCC model assumed with a single input which is summation of four types of costs, such as material, labor, depreciation, and interest cost. The technical efficiency, second, is measured by BCC model assumed with the four inputs matched to the four types of costs mentioned above. After that, two efficiency distributions are compared to test existence of allocative inefficiency. The result of this study shows that firms in world steel industry have the allocative inefficiency. This suggests that the firms having an allocative inefficiency would be capable of improving the aggregate the technical and allocative efficiency by reducing allocative inefficiency. In additional tests, the trend of three efficiencies such as the aggregate the technical and allocative efficiency, technical efficiency, and allocative efficiency suggests that allocative inefficiency will decrease for reduction of the aggregate the technical and allocative efficiency. After the analysis with samples separated by developing country and developed country, we found that the firms in developed country have the higher allocative efficiency, because these firms less spent the cost per sale than firms in developing country. This article contributes to the firms considering their efficiency improvement by testifying the allocative inefficiency that firms want to cut off, and by explaining how to know what firmhas an allocative inefficiency. Another contribution of this study is to show that how to calculate allocative inefficiency without price information in DEA. This way is to help to perform more detailed efficiency analysis under limited information.

Efficiency Analysis of Global Steel Companies

이석영 사단법인 인문사회과학기술융합학회 2016 예술인문사회융합멀티미디어논문지 Vol.6 No.1

This study analyzes efficiency of global steel companies for the period 1997-2008. I employ Data Envelopment Analysis (DEA) to estimate the relative efficiency of global steel companies in using their labor, materials and capital resources to generate sales. Based on a panel dataset for global steel companies for the period 1997-2008, I find that the means (medians) of aggregate, technical, and scale efficiency scores were 0.4954 (0.4619), 0.5803 (0.5420), and 0.8656 (0.9385) respectively. Average aggregate efficiency increased from 1998 until 2002 before trending down. Average technical efficiency increased from 1998 until 2003 before trending down. Therefore, it is apparent that the aggregate efficiency and technical efficiency move together. In contrast, average scale efficiency decreased from 1997 until 2008, which indicated a steadily downward trend from the first year in the sample period. Furthermore, average scale efficiency was greater than average technical efficiency for each year throughout the entire sample period, suggesting that the technical factor was a more important source of inefficiency than the scale factor in each year during the entire sample period. That is, there existed a higher level of technical inefficiency compared with scale inefficiency, indicating that there was more room for improvement in technical efficiency.