Determinants of Export Manufacturing Firm Efficiency: Focusing on R&D Intensity in a KOSDAQ-listed Firm

수출제조기업의 효율성 결정요인에 관한 분석: 코스닥 기업의 연구개발집약도를 중심으로

  • Received : 2016.05.14
  • Accepted : 2016.06.24
  • Published : 2016.06.30

Abstract

This paper examines the determinants of efficiency in a KOSDAQ-listed manufacturing firm. We use Data Envelopment Analysis (DEA) to estimate the efficiency of the export manufacturing firm. We employ two inputs (number of employees, equity) and one output (sales) in the DEA. The determinants of export manufacturing firm efficiency are estimated using the panel Tobit model. An analysis of 369 export manufacturing firms from 2013 to 2015 indicates the following results: First, the R&D intensity, the wage and salary intensity, total asset, and equity ratio each had a negative impact on both the CCR and BCC efficiency scores. However, export intensity had a negative impact on CCR efficiency scores in a KOSDAQ-listed total export manufacturing firm. Second, the R&D intensity had a positive impact on both the CCR and BCC efficiency scores, but export intensity, the wage and salary intensity, and equity ratio each had a negative impact on the CCR and BCC efficiency scores in a KOSDAQ-listed large export manufacturing firm. Third, the R&D intensity, the wage and salary intensity, total asset, and equity ratio each had a negative impact on both the CCR and BCC efficiency scores; respectively, in a KOSDAQ-listed small and medium export manufacturing firm.

Acknowledgement

Supported by : 한국연구재단