• International Journal of Advanced Culture Technology
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• v.11 no.1
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• pp.103-109
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• 2023

This study examines the association between ownership structure and labor investment efficiency. Specifically, this study investigates whether owner-manager firms, where managers own a large percentage of shares in the firm, involve in more efficient labor investment. Based on the management entrenchment hypothesis, managers are more likely to make labor investment decisions to maximize their private benefits rather than creating value for shareholders, resulting in lower efficiency in labor investment. On the other hand, according to the incentive alignment hypothesis, managers tend to make labor investment decisions that will improve future firm performance as their interests are aligned with those of shareholders. In this situation, owner-manager firms are expected to have higher efficiency in labor investment. Our empirical results show that owner-manager firms engage in more efficient labor investment, which contributes to long-term firm value. This study provides empirical evidence that firms' labor investment behavior can vary depending on the characteristics of the ownership structure.

• Journal of the Korean Institute of Electrical and Electronic Material Engineers
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• v.18 no.4
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• pp.357-362
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• 2005

The tandem solar cell composed of a dye-sensitized solar cell (DSC) and a thermoelectric generator (TEG) was designed. In such new cell, the characteristics of DSC and TEG were investigated. DSC uses the wavelength range of 380∼750 nm and has the maximum efficiency of below 10 ％. If the solar light transmitted through DSC can be converted to heat energy, TEG can generate electric energy using this heat energy. By this means, it is possible to utilize most of solar energy in the wavelength range of 350∼3000 nm for electric generation and it can be expected to obtain higher solar energy conversion efficiency exceeding the known limit of maximum efficiency. For this purpose we suggest the tandem solar cell constructed with DSC and TEG. In this structure, DSC has a carbon nanotube film as a counter electrode of DSC in order to collect the solar light and convert it to heat energy. We measured the I-V characteristics of DSC and TEG, assembled to the tandem cell. As a result, it was shown that DSC with carbon nanotube and TEG had the efficiency of 9.1 ％ and 6.2 ％, respectively. From this results, it is expected that the tandem solar cell of the new design has the possibility of enhanced conversion efficiency to exceed above 15 ％.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.6
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• pp.297-304
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• 2020

This paper applies the Data Envelopment Analysis (DEA) to compute the managerial efficiency of 30 insurance companies listed on the Saudi stock exchange for the duration of four years from 2015 to 2018. The companies taken as a sample of study included both conventional and Takaful insurance companies. The insurance sector of KSA is one of the largest sectors in the country, contributing a substantial percentage in the non-oil economy. Efficiency measurement and evaluation will provide a venue to introspect and benchmark frontiers to the sector. In the present study, we have utilized the basic Banker Charnes Cooper and Charnes Copper Rhodes models of DEA. Two inputs, namely, general & administrative expenses and policy & acquisition costs, and two outputs (Net premium earned and Investment Income & other incomes) were taken for efficiency calculations. The final outcomes of the study reveal that a good number of insurance companies operating in KSA are found to be efficient on managerial efficiency scale. Three firms remain the leader on the frontier of the managerial efficiency. And no company found with zero (0) efficiency or a negative efficiency. It is expected that the outcome of the study will provide benchmarks to managers and a road map to further improvement.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.3
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• pp.19-26
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• 2017

Banks play a crucial role in bringing stability and economic development through their expected contribution in proper financial resource mobilisation across the economy. Despite the importance, there is little focus in recent literature which provided the empirical evidence how the global financial crisis affect the bank efficiency in Bangladesh. Thus, this paper aims to examine the effect of the global financial crisis and other factors on the efficiency of Bangladesh commercial banks. By employing the Data Envelopment Analysis (DEA) method, we computed the technical efficiency of individual banks operating in the Bangladesh banking sector during 2000 to 2013. The empirical findings indicate that the Bangladesh banking sector has exhibited the highest efficiency level during 2001, while efficiency seems to be at the lowest level during 2010. The study finds that crisis along with bank size, capital adequacy ratio, return on average equity and real interest rate have a significant effect on bank efficiency in Bangladesh. In order to keep the sound financial development of Bangladesh, banks operating in the Bangladesh banking sector have to consider all the potential technologies which could improve their profit efficiency levels, since the main motive of banks is to maximise shareholders' value or wealth through profit maximisation.

• IE interfaces
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• v.22 no.4
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• pp.336-346
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• 2009

One of primary assumptions on DEA is that all DMUs for evaluation should be homogeneous. In comparative analysis among DMUs with relative efficiency measurement, it should be evaluated under identical conditions by ruling out external environmental influences. In this study, a measurement of innovation efficiency using the three-stage approach is performed. The approach employs DEA to measure relative efficiency and Tobit regressions to control external variables affecting innovation activity. The approach applied to firms in Korean Innovation Survey: Service Sector 2003 and 2006. Final efficiency scores of the approach represent net efficiency of the innovation. This study found that there is a increasing on technical efficiency of third stage, and it has difference with first stage significantly. Besides, a decrease on standard deviation of third stage is found. It means DMUs biased lower due to unfavorable condition and ones biased higher due to favorable condition are fallen into an identical operating environment through the approach. A measurement of net efficiency, excluding external effects, ensures the homogeneity of DMUs so that improves the reliability in terms of its analysis results. This study is expected to provide a direction and to be a valuable reference to further evaluation of innovation performance in Korean service sector.

• Journal of Korean Institute of Industrial Engineers
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• v.40 no.2
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• pp.172-183
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• 2014

This paper measures and compares the efficiency of national health technology R&D programs focused on translational research program increasing importance using data envelopment analysis (DEA). Three input variables and three output variables are selected for DEA. Inputs are funds, researchers, and project period and outputs are SCI (E) papers, applied and granted patents, and impact factor. This study uses a three-stage approach. In the first stage, output-based DEA model is applied to evaluate the efficiency of decision making unit (DMU). In the second stage, based on efficiency scores of target diseases high-efficiency group and low-efficiency group are classified. And then strategic portfolio matrix of translational research program is composed of four dimensions combining research types. Mann-Whitney U test is then run to compare average efficiency scores among four groups. In the final stage, Tobit regression model is used to estimate factors likely to influence the efficiency. The results are expected to provide policy implications for effectively establishing investment strategy and managing performance of R&D program.

• Journal of the Korean Operations Research and Management Science Society
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• v.41 no.1
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• pp.127-143
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• 2016

This study applied DEA analysis to measure the relative efficiency of 35 companies that produce automobile body components. First, the input and output, the improvement target value of the calculated variables, and the reference group for benchmarking for inefficient groups to become efficient groups were established through DEA analysis. In addition, whether inefficiency was due to technical inefficiency or size was analyzed in connection with the cases of the actual companies through the measurement of scale efficiency. Second, a route for efficiency improvement was derived through DEA-Tier analysis by defining the possible group for benchmarking in actuality within the production industry of automobile body components where the primary cooperative company belonged. Third, the financial variables that generate the difference between efficient and inefficient groups were derived through logistic regression analysis. Financial strategies that determine the direction the indices should be improved to allow the inefficient group to become an efficient one were recommended. This research is expected to provide diagnostic methods for management efficiency and the direction of improvement to enhance the management efficiency of automotive parts makers by identifying the causes of the inefficiency of domestic automotive parts makers empirically. The study also provides financial strategies together with the target values of efficiency improvement for each individual company.

• Proceedings of the Korea Society for Industrial Systems Conference
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• 2008.10b
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• pp.316-321
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• 2008

In the present emerging global economy, as the focus is shifted from manufacturing to service sector, the efficiency of service operations is crucial for the county's sustainable growth and development. As one of the fastest growing service sector industries in South Korea, the call center has become an inevitable part of customer service for most companies. Despite of the strategic importance of the call center, there has been no empirical study on the efficiency of call center service operations in the literature. The main purpose of this study is to evaluate the technical efficiency of call center services so as to not only identify the current status of call center service operations, but also suggest ways to improve service operations efficiency. For this purpose, we apply a non-parametric efficiency measurement method, DEA (Data Envelopment Analysis), to domestic call centers in order to compare their relative efficiency. Based on DEA evaluations, we provided specific directions for the inefficient call centers to possibly improve their operation efficiencies. It is expected that the measurement methods suggested in this study can be applied to various issues such as service KS certification, service operations management, and the productivity analysis of service personnel.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.841-850
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• 2021

This study aims to evaluate the relationship between bank capital, efficiency, and risk in Islamic banks. We use data from 129 Islamic banks in the world, retrieved from various data sources. We retrieved specific banking data from Moody's Analytics BankFocus and Thomson Reuters Eikon, while data at the country level was obtained from the World Bank website. This study uses various estimates both Pooled OLS (Ordinary Least Square) and Random Effect (RE). However, to overcome the issue of serial correlation which could cause bias in the results of the study, we used fixed-effect (FE) cluster estimates. The research results confirm the previous findings that bank capital positively affects bank stability (natural logarithm of Z-Score) and negatively affects credit risk (loan loss provision to total liabilities). The findings also show that efficiency has the same effect. The interaction test of bank capital and efficiency shows that efficiency encourages banks to reduce risk, including when bank capital is relatively lower. This finding is expected to have implications for the authorities to boost bank efficiency in addition to establishing several regulations related to capital. The efficiency implemented by the bank will encourage banks to act prudently so that the bank can maintain its performance through risk mitigation.

• Journal of Ceramic Processing Research
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• v.13 no.spc2
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• pp.193-197
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• 2012

Oxygen plasma has been treated on the surface of indium-tin-oxide (ITO) to improve the efficiency of the organic light-emitting diodes (OLEDs) device. The plasma treatment was expected to inject the holes effectively due to the control of an ITO work-function and the reduction of surface roughness. To optimize the treatment condition, a surface resistance and morphology of the ITO surface were investigated. The effect on the electrical properties of the OLEDs was evaluated as a function of oxygen plasma powers (0, 200, 250, 300, and 450 W). The electrical properties of the devices were measured in a device structure of ITO/TPD/Alq3/BCP/LiF/Al. It was found the plasma treatment of the ITO surface affects on the efficiency of the device. The efficiency of the device was optimized at the plasma power of 250 W and decreased at higher power than 250 W. The maximum values of luminance, luminous power efficiency, and external quantum efficiency of the plasma treated devices increase by 1.4 times, 1.4 times, and 1.2 times, respectively, compared to those of the non-treated ones.