Journal of Navigation and Port Research (한국항해항만학회지)

Korean Institute of Navigation and Port Research (한국항해항만학회)
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A Study on Impact of Economic Cycles in Shipbuilding on Managerial Performance of Marine Paint and Coatings Firms

조선산업 경기가 선박용 도료업체 경영성과에 미치는 영향에 대한 연구

  • Jin-Kook Kim (Nippon P aint Marine Korea) ;
  • Chi-Yeol Kim (Division of Shipping Management, Korea Maritime & Ocean University)
  • 김진국 (니폰페인트마린코리아(주)) ;
  • 김치열 (한국해양대학교 해운경영학부)
  • Received : 2024.01.02
  • Accepted : 2024.01.15
  • Published : 2024.02.29
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Abstract

This paper investigated the impact of economic cycles in the shipbuilding industry on managerial performance of marine paint and coatings firms. As part of the upstream to ship construction, the marine equipment industry plays a critical role in determining the competitiveness of the shipbuilding industry. Despite a close interaction between the two sectors, the majority of research on the marine equipment industry has highlighted securing competitiveness edge and developing advanced technologies, paying little academic attention to the relationship between shipbuilding and managerial performance. In this regard, this paper examined how economic cycles in shipbuilding affected growth and profitability of marine paint and coatings firms. To this end, managerial performances of six marine paint and coatings firms for the period of 2003-2022 were analyzed in panel regressions. Results indicated that the shipbuilding economic cycle proxied by delivery amounts of Korean shipyards was positively associated with growth and profitability of marine paint and coatings firms. However, there was divergence in statistical significance by shipbuilding indicators. While coefficients of compensated gross tonnage, gross tonnage, and monetary amount were statistically significant, that of deadweight tonnage was not. Findings of this study imply that managerial performances of marine paint and coatings firms are affected by the amount of value added from the shipbuilding industry rather than its absolute size.

본 연구는 조선산업 경기가 선박용 도료업체의 경영성과에 미치는 영향을 분석하는 것을 목적으로 한다. 조선기자재는 조선산업의 후방산업으로 우리나라 조선산업의 경쟁력을 좌우하는 중요한 요소이다. 이처럼 밀접한 관계에도 불구하고, 조선기자재산업에 대한 연구는 경쟁력 확보 방안 및 기술개발 위주로 진행되어 왔으며, 조선산업과 연계한 경영성과에 대한 연구는 부족한 편이다. 이에 본 연구에서는 우리나라 조선산업 경기가 선박용 도료업체의 경영성과에 미치는 영향을 성장성과 수익성의 관점에서 분석하였다. 이를 위해서 우리나라에서 영업중인 주요 선박용 도료업체 6개사의 영업실적을 2003-2022년 기간 동안 수집하여 패널 회귀분석을 실시하였다. 분석 결과, 우리나라 조선소의 선박 인도량으로 측정한 조선산업 경기는 선박용 도료업체의 성장성과 수익성에 양(+)의 영향을 미치는 것으로 나타났다. 그러나, 선박인도량 지표에 따라 통계적 유의성이 상이한 것으로 나타났는데, 표준화물선환산톤수, 총톤수, 금액 기준의 지표는 통계적 유의성이 있지만, 재화중량톤수는 통계적 유의성이 없었다. 이러한 결과는 조선산업의 규모가 아니라 조선산업이 창출하는 부가가치에 따라 선박용 도료업체들의 경영성과가 영향을 받는다는 시사점을 제공한다.

Keywords

Acknowledgement

본 논문은 해양수산부 제4차 해운항만물류 전문인력양성사업 및 한국해양대학교 교내연구비 지원을 받아 수행된 연구임.

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