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http://dx.doi.org/10.5762/KAIS.2011.12.10.4354

A Combined ANP and DEA Model based Efficiency Analysis of the Listed Construction Firms  

Seo, Kwang-Kyu (Department of Management Engineering, Sangmyung University)
Publication Information
Journal of the Korea Academia-Industrial cooperation Society / v.12, no.10, 2011 , pp. 4354-4358 More about this Journal
Abstract
Many Korean construction companies have fallen on hard times because the construction business continues to stagnate. Therefore it is necessary to measure the management efficiency for efficient operation and strengthening competitiveness of them in order to survive a difficult situation. This paper proposes a combined ANP and DEA model to analyze the efficiency of the listed construction firms. In order to determine the input and output variables of DEA, the ANP model is applied to evaluate the importance of input and output variables. The benchmarking companies and efficiency value for the construction firms with inefficiency are also provided to improve the their efficiency. The 57 listed construction companies consisted of 36 listed on KOSPI and 21 listed on KOSDAQ are analyzed in this study. The analysis results show that 11 companies whose values of CCR are 1, and 14 firms whose values of BCC efficiency are 1. In additions, the 19 firms have the scalability efficiency. Finally, we test the correlation between efficiency and the stock price.
Keywords
Efficiency Analysis; Analytical Network Process(ANP); Data Envelopment Analysis(DEA);
Citations & Related Records
Times Cited By KSCI : 5  (Citation Analysis)
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