• 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 Agricultural Extension & Community Development
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• v.28 no.3
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• pp.153-165
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• 2021

This study aims to analyze the difference in production elasticity based on the types of agricultural labor input regarding its qualitative difference in Jeju mandarin production. To estimate the production function of qualityadjusted labor, we have set up a Quality-Adjusted Index based on the market wage of the agricultural field. We have conducted a multiple regression analysis of the newly estimated labor inputs using the Ordinary Least Squares regression. Results show that the production efficiency of aggregate total labor hours (quality-unadjusted labor input) is overestimated compared to quality-adjusted labor with qualitative labor homogeneity. Moreover, by analyzing household labor and employment labor, we have observed that the marginal productivity of household labor exceeds that of employment labor. In conclusion, this study verifies that securing labor input homogeneity is crucial for analyzing agricultural labor hours' economic efficiency accurately.

• KDI Journal of Economic Policy
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• v.26 no.2
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• pp.143-178
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• 2004

For a thorough accounting for economic growth, it is desired to include the working hours and the efficiency of labor as production factors in addition to the number of workers and human and physical capital stocks. This paper estimates the distribution of weekly working hours of total workers as a continuous variable using the maximum likelihood method, estimates the efficiency of labor as a function of working hours using wage statistics, and by combining these results, estimates the labor efficiency index in Korea for the period 1963~2003. Estimation results show that the efficiency of labor was maximized when the weekly working hours was 40 hours, and the average annual growth rate of the labor efficiency for the period 1963~2003 was 0.14 percent.

• Journal of Family Resource Management and Policy Review
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• v.15 no.1
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• pp.117-136
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• 2011

This study examined the effects of the division of household labor on the marital satisfaction of husbands and wives in dual-earner families. Data were collected from 193 couples in dual-earner families; the questionnaire measurements were based on recommendations from the literature review. The questionnaire consisted of inquiries concerning gender role attitudes, marital communication efficiency, division of household labor, satisfaction in the division of household labor, and marital satisfaction. Each of these categories had an individual measurement scale that enabled measurement of its impact on marital satisfaction. The major findings of this study are as follows: The couples in dual-earner families showed egalitarian gender role attitudes and high levels of marital communication efficiency. They also reported high levels of satisfaction with their division of household labor and their marital lives. Wives in dual-earner families had more egalitarian gender role attitudes compared with their husbands, and husbands perceived themselves to be investing more time in performing household chores (that is, in the division of household labor) than was perceived by their wives. Husbands were also more satisfied with the division of household labor and marital life compared to their wives. Finally, hierarchical multiple regression analysis revealed that satisfaction in the division of household labor and in marital communication efficiency (as perceived by the couples) significantly predicted husbands' marital satisfaction. On the other hand, wives' age, marital communication efficiency, and the differences in the division of household labor (as perceived by the couples) significantly predicted wives' marital satisfaction.

• The Korean Journal of Health Service Management
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• v.5 no.1
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• pp.77-85
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• 2011

The study intends to conduct an analysis of relations between efficiency of investment to human resources and the operating margin in hospitals. The analyzed results are as follows: First, it is found out that an index related to labor productivity(the monthly value added per bed, the value added ratio to gross revenue), and an index for efficiency of human resources(value added to personnel expenses), do not have a significant difference by years. Second, labor productivity, indicating the efficiency of human resources, does not have a significant difference between regions and between hospital types. But there is a significant difference according to types of establishment: private hospitals have higher labor productivity(efficiency of human resources) than corporate hospitals. The hospital size is small have significantly higher labor productivity. As a result of a follow-up check, it is found out that there is separation between a group with more than 200 beds and a group with less than 200 beds. Third, at the relations between the indices related to value-added productivity and the operating margin that the higher the value added ratio to gross revenue and the higher labor productivity, the higher the operating margin. Especially, labor productivity(value added to personnel expenses), an index for the efficiency of human resources, out of all the indices related value added productivity, has the most significant influence on the operating margin.

• Journal of Agricultural Extension & Community Development
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• v.23 no.2
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• pp.145-156
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• 2016

The purpose of this study is to analyze the farms growing domestic kiwi fruit 'Gold' on their management performance and efficiency in order to reduce the risks involved with introducing new kind of crops for growing, and suggest improvements. First, the result of analysis showed that domestic kiwi fruit 'Gold' growers' income were higher than the average growers due to the fruit's high unit price and productivity. Second, the analysis of management efficiency resulted in scale efficiency having greater impact on inefficiency rather than pure technical efficiency. As for the analysis of technical efficiency, the depreciation costs of agricultural facilities had the greatest influence on its inefficiency. Third, inefficient farms put in excessive inputs across the board, while labor costs(self labor cost + hired labor cost) were the largest factor of optimal inputs according to the models of technical efficiency and pure technical efficiency. Fourth, because of greater reliance on mechanical tools from rising labor costs, there's a need for individual farms to avoid buying farming equipments and instead share the equipments of nearby farms and agricultural cooperatives, or start renting agricultural machines from companies.

• The Journal of the Korea Contents Association
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• v.20 no.12
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• pp.136-144
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• 2020

Previous studies report that labor investment inefficiency occurs as the information asymmetry becomes severe and the agency problem between managers and external investors increases. Therefore, it is highly likely that managers will make opportunistic decisions that can damage corporate value in companies with high labor investment inefficiency. This study examines whether the value relevance of accounting information decreases as labor investment inefficiency increases as it is less likely that investors in the market use the accounting information of companies in which labor investment decisions are made inefficiently. Labor investment efficiency is measured as the difference between the actual level of labor investment and the expected level of optimal labor investment. Larger difference between the actual level of labor investment and the expected level of optimal labor investment is considered as higher inefficiency in labor investment. Using data of firms listed on the Korea Stock Exchange from 2002 to 2018, empirical results show that the value relevance of earnings decreases as the inefficiency of labor investment increases. This research provides empirical evidence on whether investment inefficiency in labor, which is an important factor in the competitiveness of a company, reduces the information usefulness of reported earnings.

• East Asian Economic Review
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• v.24 no.3
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• pp.275-301
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• 2020

We analyze state-level matching efficiencies in the Indian labor market using stochastic frontier analysis. The key contribution of this research is the estimation of matching efficiencies at the state level because these can be used for a state-level measure of labor market conditions. Next, we explore the relationship between the estimated matching efficiencies and population density, labor market flexibility, and the Ease of Doing Business index, respectively. The results show that matching efficiency is heterogeneous across states with considerable variation in accordance with the regional diversity in India. However, we find that there is little relationship between the estimated matching efficiencies and the labor market conditions of interest, suggesting that other regional diversity affects matching efficiencies across states in India.

• Journal of the Korean Society of Marine Environment & Safety
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• v.23 no.2
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• pp.161-167
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• 2017

This paper measured and evaluated the technical efficiency, pure technical efficiency and scale efficiency of port labor via three inputs and three outputs using Data Envelopment Analysis (DEA). First, the average overall technical efficiency measured about 94.18 %, with 100 % pure technical efficiency being larger than 94.18% scale efficiency. As a result, 7 ports were identified as efficient, and 4 ports were identified as inefficient. Among the 4 ineffiecient ports, Donghae had the highest Increasing Return to Scale (IRS). However, the inefficient ports were all found to be less efficient in terms of resource operation than production scale. On the other hand, the efficient ports established priorities using the super efficiency method. As a result, port efficiency was highest for Incheon, Mokpo, Pyeongtaek-Dangjin, Masan, Yeosu Gwangyang, Jeju, and Gunsan-Daesan Ports, in order. In particular, Busan Port, found to be inefficient, would benefit from using Mokpo Port and Incheon Port as benchmarks to increase trade volume and modernize equipment for full-scale commercialization to improve labor efficiency.

• Health Policy and Management
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• v.29 no.1
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• pp.27-39
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• 2019

Background: This study is designed to estimate the factors that affect the level of three different performance (publicity, efficiency, profitability) among regional public hospitals. Methods: The units of analysis are the regional 30 hospitals, which have the operating data during 22 years (from 1933 to 2014). The research method is used by fixed panel analysis. The publicity is measured by medicaid outpatient proportion and medicaid inpatient proportion. The efficiency is measured by two types of efficient score by DEA (data envelopment analysis). The profitability is measured by medical income to medical revenue and ROA (return on total asset). Results: At first, the increase of bed gives negative affect to the publicity but give positive effect to the efficiency and profitability. Because it means the increase of the region population, it gives more profitability compare to hospital with small number of beds. The more the operating period is the higher effect to the publicity and efficiency because of it's refutation. The debt ratio gives negative effect to publicity, but positive effect to profitability. It is the normal belief that there is inverse relationship between publicity and profitability. The turnover rate of bed gives the negative affect to the publicity, but positive affect to the efficiency and profitability. That give us the implication that type of the inpatient make different effect the hospital performance. The ratio of labor cost give negative effect to all kind of performance. That means that the higher labor cost don't mean the higher publicity and labor cost control is very important factors to hospital performance. So the region hospital have to focus the labor factors more to make higher performance. Conclusion: As the conclusion, the independent variables give similar effect to the efficiency and the profitability, but give inverse effect to the publicity. That means that if an region hospital want to make the more publicity, it loss the higher efficiency and profitability. Specially publicity is higher negative relation with the profitability.