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A Brief Efficiency Measurement Way for the Korean Container Terminals Using Stochastic Frontier Analysis  

Park, Ro-Kyung (조선대학교 경상대학 무역학과)
Publication Information
Journal of Korea Port Economic Association / v.26, no.4, 2010 , pp. 63-87 More about this Journal
Abstract
The purpose of this paper is to measure the efficiency of Korean container terminals by using SFA(Stochastic Frontier Analysis). Inputs[Number of Employee, Quay Length, Container Terminal Area, Number of Gantry Crane], and output[TEU] are used for 3 years(2002,2003, and 2004) for 8 Korean container terminals by applying both SFA and DEA models. Empirical main results are as follows: First, Null hypothesis that technical inefficiency is not existed is rejected and in the trasnslog model, the estimate is significant. Second, time-series models show the significant results. Third, average technical efficiency of Korean container terminals are 73.49% in Cobb-Douglas model, and 79.04% in translog model. Fourth, to enhance the technical efficiency, Korean container terminals should increase the handling amount of TEUs. Fifth, both SFA and DEA models have the high Spearman ranking of correlation coefficients(84.45%). The main policy implication based on the findings of this study is that the manager of port investment and management of Ministry of Land, Transport and Maritime Affairs in Korea should introduce the SFA with DEA models for measuring the efficiency of Korean ports and terminals.
Keywords
SFA; DEA;
Citations & Related Records
Times Cited By KSCI : 7  (Citation Analysis)
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