• Title/Summary/Keyword: Efficiency

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Regional Financial Development, Firm Heterogeneity and Investment Efficiency

  • Zhang, Ruonan;Yin, Hong
    • The Journal of Asian Finance, Economics and Business
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    • v.5 no.4
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    • pp.73-83
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    • 2018
  • The purpose of this paper is to examine the relationship between regional financial development and corporate investment efficiency as well as the relationship between firm-level characteristics and corporate investment efficiency. Using a large sample of A-listed companies in China from CSMAR database between 2003 and 2016, this paper explores corporate investment efficiency and its influencing factors in emerging market on the basis of heterogeneous stochastic frontier model. The results show that: (1) the average investment efficiency of Chinese listed companies is 74.5%, and the investment efficiency of large enterprises, state-owned enterprises and enterprises with relatively high financial development level is significantly higher; (2) compared with average corporate investment efficiency in the year 2003, the investment efficiency of different types of enterprises in 2016 is significantly higher, and the gap is gradually widening; (3) enterprise heterogeneity namely firm size, nature of property right, and institutional environment reflected by the level of regional financial development indirectly affects corporate investment efficiency by influencing the financing constraints and uncertainty. The findings suggest that to improve corporate investment efficiency in emerging market, financial market should be accelerated, regional balance should be restored and the differences among regions, industries and differences between public and private sectors should be eliminated.

A Study on the Evaluation of Efficiency in the Korean Small and Medium sized Construction Firms (국내 중소건설업체의 효율성 평가에 관한 연구)

  • Kim, Hyuk;Yoo, Han-Joo;Song, Gwang-Suk
    • Journal of Korean Society for Quality Management
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    • v.38 no.3
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    • pp.463-474
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    • 2010
  • In this study, we evaluate the efficiency of Construction Industry using Data Envelopment Analysis(DEA). Since the Construction Industry has been traditionally operated through competition, it is important to measure the efficiency. In this paper, we empirically analyze the Efficiency of the 50 Korean Construction Industry. In detail, we used the scale of efficiency in order that efficiency cannot be affected by the total technical efficiency of each company and the scale of DMU by applying CCR or BBC model. Also, we analyzed the changes of measurement DEA model score. we adopted the basic DEA, RTS Region and MPSS(Most Productive Scale Size) method which are combined with efficiency measurement model in order to analyze the operational status. Furthermore, by complementing the shortfalls of the scale efficiency value of the DEA Model, RTS Region Model can be recommended to be appropriate in the evaluation of ideal input/output Quantity. In particular, input variables are total assets, construction capacity, the technical staff and output variables are sales volume, operating income. The result of RTS Region and MPSS shows that 9 DMUs of the efficiency frontier in the Construction Industry are analyzed to be relatively efficient DMUs, and 41 DMUs are analyzed to be inefficient DMUs, and finally inefficient DMUs are separated with Region 1 and Region 6.

Emission Characteristics of White Organic Light-Emitting Diodes Using Micro Lens Array Film (Micro Lens Array Film을 이용한 백색 OLED의 발광 특성)

  • Chun, Hyun-Dong;Na, Hyunseok;Yang, Jae-Woong;Ju, Sung-Hoo
    • Journal of the Korean institute of surface engineering
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    • v.46 no.2
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    • pp.93-97
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    • 2013
  • We studied the emission characteristics of white phosphorescent organic light-emitting diodes (PHOLEDs), which were fabricated using a two-wavelength method. To optimize emission characteristics of white PHOLEDs, white PHOLEDs with co-doping and blue/co-doping emitting layer (EML) structures were fabricated using a host-dopant system. The total thickness of light-emitting layer was 25 nm and the dopant of blue and red was FIrpic and $Bt_2Ir(acac)$ in UGH3, respectively. In case of co-doping structure, applying micro lens array film showed efficiency improvement from the current efficiency 78.5 cd/A and power efficiency 40.4 lm/W to the current efficiency 131.1 cd/A and power efficiency 65 lm/W and blue / co-doping structure showed efficiency improvement from the current efficiency 43.8 cd/A and power efficiency 22 lm/W to the current efficiency 69 cd/A and power efficiency 32 lm/W.

A Study on the Technology Transfer Efficiency for Public Institutes Using DEA Model (DEA 모형을 이용한 공공연구기관의 기술이전 효율성 분석에 관한 연구)

  • Hyon, Man-Sok;Yoo, Wang-Jin
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.31 no.2
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    • pp.94-103
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    • 2008
  • This study measured technology transfer efficiency for public institutes. The study made use of DEA being one of the non-parametric linear programming to evaluate technology transfer efficiency for public institutes and to measure technology efficiency, pure technical efficiency and scale efficiency. The measurement of the technology transfer efficiency for public institutes was as follows: The cause of the technology transfer inefficiency was affected by pure technical inefficiency more than by scale inefficiency. Public institutes' RTS(Return To Scale) value varied depending upon the features of the organizations than the features of the regions. Public research institutes' RTS value is more effective than universities' RTS value. We compared the RTS group with the RTS of Projected DMU groups. The RTS group had constant returns to scale effect while the RTS of the Projected DMU had increasing returns to scale effect. The technology transfer efficiency of public institutes varied depending upon the features of the organizations and regions : The technology transfer efficiency of public institutes were as follows : public research institutes at the metropolitan area, public research institutes at the local areas, universities at the metropolitan area and universities at the local areas. In other words, the technology transfer efficiency was affected by organizational characteristics more than by regional characteristics at the place where public institutes were located.

Experimental and Simulated Efficiency of a HPGe Detector in the Energy Range of $0.06{\sim}11$ MeV

  • Park Chang Su;Sun Gwang Min;Choi H.D.
    • Nuclear Engineering and Technology
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    • v.35 no.3
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    • pp.234-242
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    • 2003
  • The full energy peak efficiency of a hyper pure germanium (HPGe) detector was calibrated in a wide energy range from 0.06 to 11 MeV. Both the experimental technique and the Monte Carlo method were used for the efficiency calibration. The measurement was performed using the standard radioisotopes in the low energy region of $60{\sim}1408$ keV, which was further extended up to 11 MeV by using the $^{14}N(n,r)\;and\;^{35}Cl(n,r)$ reactions. The GEANT Monte Carlo code was used for efficiency calculation. The calculated efficiency had the same dependency on the r-ray energy with the measurement, and the discrepancy between the calculation and the measurement was minimized by fine-tuning of the detector geometry. From the calculated result, the efficiency curve of the HPGe detector was reliably determined particularly in the high energy region above several MeV, where the number of measured efficiency points is relatively small despite the wide energy region. The calculated efficiency agreed with the measurement within about $7\%$. In addition to the efficiency calculation, the origin of the local minimum near 600 keV on the efficiency curve was analyzed as a general characteristics of a HPGe detector.

Analysis of Investment in Nanotechnology Using DEA (DEA를 활용한 나노기술의 투자분석)

  • Yoon, Seung-Chul;Kim, Heung-Kyu
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.41 no.4
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    • pp.101-110
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    • 2018
  • This study aims to objectively measure the efficiency of nanotechnology R&D programs by systematically evaluating the inputs and outputs of nanotechnology R&D activities and to find implications for improving the efficiency of nanotechnology R&D programs. Data on input factors such as R&D investment, R&D manpower, R&D period, and output factors such as paper, patent, and commercialization for R&D projects which started from 2008 or afterwards and ended by 2011 are gathered through National Science and Technology Knowledge Information Service, which are used for efficiency evaluation. In this study, we analyzed R&D efficiency in detailed technology units in depth. The process taken in this study is as follows. First, the basic statistics of input and output factors to compare and analyze R&D investment, R&D manpower, R&D period, paper, patent, and commercialization status by technology unit are analyzed. Next, DEA models are utilized to derive the overall efficiency, pure technology efficiency, and scale efficiency by conducting the efficiency evaluation for each technology unit, from which implications for strategic budget allocation are derived. In addition, partial efficiency evaluation is conducted to identify advantages and disadvantages of each technology unit. In turn, cluster analysis is performed to identify similar technology units, from which implications for efficiency improvement are derived.

An Analysis of Technical Efficiency of Port Labor Using DEA/Super Efficiency (DEA/초효율법을 이용한 항만노무 효율성 분석)

  • Jang, Woon-Jae
    • 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.

Comparison of Operational Efficiency and Quality Efficiency of Medical Services by Country : Focused on OECD Member Countries (국가별 의료서비스의 운영효율성과 품질효율성 비교: OECD 회원국들을 중심으로)

  • Hyunjung Kim;Jiyoon Son
    • Journal of Service Research and Studies
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    • v.11 no.4
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    • pp.43-55
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    • 2021
  • This study analyzed the efficiency of medical services in OECD member countries by dividing it into operational efficiency and quality efficiency. For this purpose, data from 2017-2019 OECD Health Statistics were used. As the analysis method, super efficiency was measured by applying an output-oriented Variable Returns to Scale (VRS) model. As a result of the analysis, Switzerland, Korea, and Italy were included in the high group of operational efficiency, Canada, Greece, Denmark, etc. in the medium group, and Belgium, Germany, and Spain in the low group. Based on quality efficiency, Norway, Switzerland, and Spain are in the high group, and Greece, Denmark, Mexico, etc. are in the medium group, and the Netherlands, Germany, Belgium, etc. were included in the low group. As a result of comparative analysis of efficiency by OECD member countries as of 2018, it was found that Korea's operational efficiency was the most efficient and quality efficiency was inefficient. Korea (0.998) should improve life expectancy by 0.2 (0.2%) and subjective health perception by 44.2 (138.1%) by benchmarking Greece (0.422), Switzerland (0.207), and Spain (0.371) to improve quality efficiency. Unlike most previous studies that focused on operational efficiency, this study measured quality efficiency together and analyzed the efficiency of the medical service industry in each OECD member country. Through this, this study has implications in that it confirmed the international competitiveness of the domestic medical service industry and suggested ways to improve efficiency.

Evaluation of Operational Efficiency among Long-Term Care Visiting Nursing Centers using Data Envelopment Analysis (자료포락분석을 이용한 노인장기요양 방문간호센터 운영의 효율성 평가)

  • Lim, Ji Young;Kim, Seonhee;Oh, Eunsook;Song, Su Young
    • Journal of Korean Academic Society of Home Health Care Nursing
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    • v.27 no.1
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    • pp.16-28
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    • 2020
  • Purpose: The aim of this study was to evaluate the efficiency of long-term care visiting nursing centers in communities using data envelopment analysis (DEA). Methods: Data were collected using a self-reported questionnaire. The average number of staff per 6 months and total space of center were used as input variables. The average number of clients per 6 months and the average profits per 6 months were used as output variables. EMS Window version 3.1 was used to measure the efficiency scores. Descriptive statistics and tobit regression were applied to analyze the general characteristics of the variables and the factors affecting efficiency scores. Results: The average efficiency of 30 long-term care visiting nursing centers in communities was approximately 66.9% on technical efficiency analysis, and 79.1% on scale efficiency analysis. Eight nursing centers on technical efficiency analysis and 12 centers on scale efficiency analysis had 100.0% efficiency. Conclusion: Our findings reveal that long-term care visiting nursing centers in communities have low operational efficiency. Therefore, it is essential to institute policies and regulations to improve the efficiency of visiting nursing centers and to strengthen the business competencies of center officers.

An Analysis on Korean Pear Farm Efficiency;A case study using non-parametric method (배 농가의 경영효율성 분석;비모수적 접근방법에 의한 사례 연구)

  • Woo, Soo-Gon;Yoo, Jin-Chae;Kang, Kyeong-Ha;Shin, Yong-Kwang
    • Journal of Agricultural Extension & Community Development
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    • v.9 no.2
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    • pp.263-277
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    • 2002
  • The objective of this study was to compare the farm efficiency of members of cooperative firms with that of non-members in Korea. Data were collected from 27 farms members of three cooperatives and 13 non-member farms, based on the managerial achievements of 1999. For the analysis, the data were divided into three different farming types: type I and II of member farms and non-member farms. Economic analysis were implemented using DEA(Data Envelopment Analysis). Major findings was as follows. Total average technology efficiency was 0.782, which implies that there still remains 21.8% of improvement possibility. Among the three types, type I showed the highest technology efficiency of 0.9055, while type II and non-member farms showed 0.7670 and 0.7171, respectively. This means that these farms have relatively high potential improved. Also, comparing technology efficiency by dividing into pure technology and scale efficiency, all type of the farms exhibit a higher pure technology efficiency compared to scale efficiency. Therefore, to improve current technology efficiency, farms need to focus more on pure technology efficiency improvement. Meanwhile, profit analysis based on farm size indicate that most of the farms demonstrated the increasing-return-to-scale, which means it is necessary to extend the farm size to improve technical efficiency. Type I member farms achieve higher profit and efficiency than other two types and relatively higher producer prices through introducing cooperative sorting, grading and packing. Also, these labor saving technologies increased farm size.

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