DEA - Tobit 회귀 통합 모델을 활용한 중소기업 정보화 및 DX 투자 효율성 분석 연구 = A Study on the Efficiency of Digital Transformation(DX) Investment in SMEs using the DEA-‘Tobit Regression’ Integrated Analysis Model

다국어 초록 (Multilingual Abstract)

This study aims to measure the efficiency of digital transformation (DX) by comparing information technology resource inputs with the level of digital transformation among 3,953 small and medium-sized enterprises (SMEs) in Korea, and to identify its key determinants. Drawing on an integrated theoretical framework that combines the resource-based view and the dynamic capabilities perspective, this study applies a two-stage analytical approach. In the first stage, efficiency scores are estimated using Data Envelopment Analysis (DEA). In the second stage, a Tobit regression analysis is conducted with the DEA efficiency scores as the dependent variable to identify the determinants of DX efficiency.
The results show that the average pure technical efficiency under variable returns to scale (VRS) is remarkably low at 0.16. Decomposition of inefficiency reveals that approximately 86% is attributable to managerial inefficiency, while about 14% stems from scale inefficiency. Focusing on pure technical efficiency, the regression results indicate that the use of cloud-based business solutions (β = 0.26, p < 0.001), collaboration data management between business partners (β = 0.20, p < 0.001), internal business data management capabilities (β = 0.15, p < 0.001), and integrated security planning and management (β = 0.14, p < 0.001) have significant positive effects on DX efficiency. In contrast, top management interest and commitment exhibit a weak but significant negative effect (β = −0.03, p < 0.05), and the establishment of formal informatization plans is not statistically significant (β = 0.00, n.s.).
These findings suggest that DX efficiency in SMEs is driven less by the scale of investment or managerial intent and more by concrete execution capabilities, such as effective cloud utilization, systematic data collection and management, and data-driven collaboration with business partners. This study contributes to the literature by providing a multidimensional measurement of DX efficiency and a systematic identification of its key determinants. From a practical perspective, the findings highlight the importance of prioritizing actionable digital capabilities for SME managers and suggest a policy shift for policymakers from predominantly financial support toward capability-building initiatives.