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Data Envelopment Analysis of the Management Efficiency of National Shipping Enterprises in South Korea -Chiefly on the Corporate Entertainment and Advertisement Cost-  

Park, Hyun-Jun (산업연구원)
Kim, Hyuna (국토연구원)
Lim, Young-Tae (국토연구원)
Publication Information
Journal of Korea Port Economic Association / v.32, no.2, 2016 , pp. 123-135 More about this Journal
Abstract
This study uses Data Envelopment Analysis(DEA) to investigate the management efficiency of Korean shipping companies based on business administration costs such as corporate entertainment, advertisement, and labor costs. We analyze shipping enterprises listed on the Korean stock market of the period of 2010-2014. Corporate entertainment, advertisement and labor costs are used as input variables and sales and net income are used as output variables. We use technical efficiency, pure technical efficiency, scale efficiency and returns to scale to propose a plan to improve the efficiency of inefficiency decision-making units (DMUs). The results of the efficiency analysis show that six of the DMUs in the technical efficiency of CCR model and eight of the DMUs in the pure technical efficiency of BCC model are in efficient state. In terms of return to scale, six of the DMUs(24% of all DMUs) show increasing returns to scale, while 13 DMUs(52% of all DMUs) showdecreasing returns to scale. Because multiple efficient state for DMUs exist in the technical efficiency analysis, we conduct a super efficiency analysis. The results show that the efficient state of the twomost efficient DMUs are 1.314 and 1.243, respectively. This implies that these DMUs could maintain their current levels of the efficiency if they increase the amount spent on advertisements, corporate entertainment and labor costs by 31.4% and 24.3%. respectively. We conclude this study by providing the efficiency states of each DMU and target for improving the inefficiencies in each case.
Keywords
Data Envelopment Analysis Model; Shipping enterprise; Enterprise expense; Advertisement expense; Efficiency analysis;
Citations & Related Records
Times Cited By KSCI : 3  (Citation Analysis)
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