Journal of the Korea Academia-Industrial cooperation Society (한국산학기술학회논문지)

The Korea Academia-Industrial cooperation Society (한국산학기술학회)
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Inefficiencies and Productivity Change of Domestic Banks including Non-performing Loan with Normal Output after Financial Crisis

금융위기 이후 부실채권을 고려한 국내 은행의 비효율성과 생산성 변화

  • Received : 2020.02.11
  • Accepted : 2020.06.05
  • Published : 2020.06.30
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Abstract

This study constructed production frontiers of inputs and outputs in a sequential manner, measured inefficiencies by applying a non-radial sequential weighted Russell directional distance function to these frontiers, and analyzed Luenberg productivity indices and the contribution of each of input and output factor based on these distances. The results are as follows. First, the productivity of banks increased due to technical changes after the global financial crisis. Second, productivity growth decreased between 2009 and 2014 due to technical changes after the recession, as previous studies have shown that technology progressed before the global financial crisis but then largely decreased or remained the same thereafter. After 2014, the productivity of banks improved. This result may be due to both technology improvement after 10 years of stagnation and reduction of inputs and non-performing loans. Third, the 3.6% annual of productivity growth for 10 years was comprised of 1.77% household loans, 0.67% corporate loans, 0.98% manpower, 1.18% non-performing loans, -0.5% total deposits, and -1.25% securities. Finally, this study has limitations since it could not control risks such as capital structure and interest volatility.

본 연구는 연도별 은행의 투입요소와 산출요소의 생산가능집합을 순차적인 방법으로 구성하고 이 프런티어에 의해 비방사형 순차적 가중평균 러셀 방향거리함수로 비효율성을 측정한 후, 거리함수 값을 기초로 은행별 루엔버거 생산성 지수와 각 투입산출요소별 생산성 변화의 기여도를 분석하였다. 분석결과 첫째, 은행의 생산성은 글로벌 금융위기 이후 기술변화의 영향으로 생산성이 증가하였다. 둘째, 선행연구에서 글로벌 금융위기 전까지 기술진보의 변화를 보였으나 그 이후 기술변화는 정체 상태임을 실증적으로 제시하였다. 본 연구에서도 2009년부터 2014년까지는 기술변화의 침체로 생산성은 마이너스 성장을 하였다, 그러나 2014년 이후 생산성이 증가하였는데, 그 원인은 정체상태에 있었던 기술변화가 투입요소와 무수익여신의 감소로 인하여 기술진보로 전환된 데 있으며 이로 인해 생산성이 증가된 것으로 추론된다. 셋째, 과거 10년간 은행의 생산성 지수는 연평균 3.6% 증가하는 변화를 보였는데, 각 투입 및 산출요소별 생산성 기여도는 가계대출액 1.77%, 기업대출액 0.67%, 유형자산 1%, 인력 0.98%, 무수익여신 1.18%, 증권투자액과 총수신액 각각 -1.25%, -0.5%로 생산성을 증가시키는 데 무수익여신의 감축이 중요한 비중을 차지하고 있다. 본 연구의 한계점으로 분석모형의 방향성 거리함수 측정과정에서 자본구조 위험, 유동성 위험 등 환경변수의 방향성 설정이 어렵기 때문에 모형 내에서 통제하지 못함에 따라 환경변수의 영향을 고려하지 못하였다.

Keywords

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