DEA 모형을 이용한 전자기업 생산효율성 분석(주식거래소 전자회사 중심으로)

Abstract

Korean electronic industry has been developed, based on the export-oriented foreign trade than the development of the internal market, based on light industry, starting the New Village Movement in the 1960s. Then, based on the heavy and chemical industries, the government played some role as an industrial center of the development.

However, as the developed countries demanded to open developing countries’ markets, and many developing countries participate more actively than ever in financial liberalization and regulation of trade, most companies have come to recognize the necessity of the increased efficiency and productivity of business as important tasks.

The past thinking is that the increased productivity of land and labor, and the methods to increase capital, guarantee the growth of the industry automatically.

The purpose of this study was to measure the efficiencies of the Korean electronic companies, that is, to measure the relative efficiencies of production of KOSDAQ and KOSPI electronic companies, using the information of the Korean Stock Exchange electronic companies. This study tried to analyze the relative efficiency changes of production in the periods before and after the financial crisis.

DEA research methods assuming VRS(variable returns to scale) and CRS(constant return to scale) are utilized. The non-parametric method , Date Envelope Analysis (data envelope analysis) has been widely used in the efficiency analysis. This study used corporate sales as outputs, and the company's net assets, the liabilities and the number of persons as inputs.

In the results of measuring the efficiencies between 2004 from 2013, CRS (Constant return to scale) efficiency is 1.000, showing the frequency of 41 times, which appears to correspond to 20.5% for the KOSPI and KOSDAQ companies.

When compared with the 10-year averages in 20 companies, Samwha Electric has shown the highest measurement as 0.999 and Seoul, Telecommunications has shown the lowest measurement as 0.194. Due to the economic crisis of the United States in 2008, 2009, the lowest efficiency measures seemed to take place.

The average of the 20 companies in 2009, appears to have the lowest efficiency of 0.384 during the 10 years. The averages of 20 companies, except for 2009, appeared to be between 0.615 and 0.592.

The number of VRS (variable returns to scale) of 1.000 is 99 times, that is, the KOSPI has appeared 59 times, the KOSDAQ 40 times. The average of the 20 companies in 2009 shows the lowest efficiency of 10 years, 0.592. In terms of 20 companies, except for 2009, on the other hand, 0.772 and 0.754 seem to be higher than the average of 10 years.

Finally, SE (Scale Efficiency) is measured as the average 0.790.

The implication of this study is that in comparison with KOSDAQ, KOSPI showed higher measurements of efficiency generally. This means that generally in Korea, KOSPI companies’ performance is higher than KOSDAQ’ during the period from 2004 to 2013. More researches are needed to find out the reasons why KOSPI electrinic companies’ performances are higher than KOSDAQ’ electronic companies’.