SUPER DEA에 의한 국내은행의 효율성 분석

현정원(Hyun Jeong Won),김성아(Kim Sung Ah) 글로벌경영학회 2009 글로벌경영학회지 Vol.6 No.4

본 연구는 Super DEA에 의하여 2001년부터 2005년도까지 국내 은행산업의 효율성을 측정하고 어떠한 요인들이 효율성에 영향을 주었는지를 확인하였다. 투입물로는 직원수, 고정자산, 예수금을 사용하였고 산출물로는 대출금과 유가증권을 채택하였다. 연도 간 비교가 가능 하도록 윈도분석을 하였다. Super 효율성을 종속변수로 하고, BIS자기자본비율, 기업규모, 외부주주지분, 대출금/총자산, 유가증권/총자산 및 더미변수(시중은행 여부)를 독립변수로 하여 회귀분석을 실시하였다. 대출금/총자산, 유기증권/총자산 및 더미변수는 효율성에 통계적으로 유의하게 정(+)의 영향을 주었으며, 외부주주지분율은 통계적으로 유의하게 부(-)의 영향을 준 것으로 나타났다. 그러나 자산규모와 BIS자기자본비율은 효율성에 유의하지 않은 것으로 확인되었다. The study is to examine Korean bank efficiency from 2001 to 2005 by super Data Envelopment Analysis. Fixed assets, number of employees, and total deposits are employed as inputs, and loans and securities output for DEA. Regression analysis is employed to regress super efficiency on the explanatory such as BIS, asset size, outside stockholder s equity, securities/total assets, loans/total assets, and dummy variable(major bank=1, local bank=0). Loans/total assets, securities/total assets, dummy variable have strong positive effects on the efficiency, but outside stockholder s equity has the strong negative effects on the efficiency. Asset size and BIS have no effects on the efficiency.

우리나라 대학의 투입물 혼잡도 측정

현정원 ( Jeong Won Hyun ) 한국생산성학회 2015 生産性論集 Vol.29 No.1

Input congestion is present when reducing some inputs causes some outputs. Such phenomenon is likely to be present in Korean universities. But previous studies measuring the efficiencies for Korean universities did not take the input congestion into account. Hence, this study revisited the efficiency of Korean universities with consideration of input congestion by employing T-S model(SBM DEA). T-S model divided the input congestion into strong congestion and weak congestion. This study measures the weak congestion because the definition of strong congestion is too restrictive. Strong congestion implies weak congestion, but weak congestion does not imply strong congestion. Number of full time teaching staffs, number of non-teaching staffs, and number of students are used as outputs and employment rate, domestic publication index, and international publication index as outputs. Inputs congestions are estimated for 39 research-oriented universities in 2012. 20 universities have been diagnosed with input congestion and an excessive number of students is the main sources of input congestion, Based on this study, the congested inputs are required to be removed from the inputs. The outputs augmentation such as employment rate, domestic publication index, and international publication index could have been achieved by the reduction in number of full time teaching staffs, number of non-teaching staffs, and number of students. In addition, the above unexpected input congestion from full time teaching staffs might be indicative of institutional inefficiency. Further research is necessary to examine the institutional inefficiency.

DEA윈도우에 의한 국내은행의 효율성 분석

현정원 ( Jeong Won Hyun ) 한국생산성학회 2012 生産性論集 Vol.26 No.3

This study is to investigate Korean bank efficiency from 2004 to 2010 by window data envelopment analysis with a window width of 3 years. Number of employees, number of branches, and total deposits are employed as inputs, and total loans, and securities output for window DEA analysis. From the efficiency for a particular year compared against the different windows, we can conclude a consistent upward shifting in efficient frontier since the efficiency for a given year decreases when the efficient frontier forwards. This fact indicates that some banks pushed the efficient frontier by technical innovations. In addition, average efficiency scores consistently increase with up and down trends. In addition, window analysis shows that Hankook City is the most efficient bank out of 13 and Kyong Nam is the most efficient out of the regional banks.

기업의 자본구조 결정요인 연구

현정원(Hyun Jeong Won) 글로벌경영학회 2010 글로벌경영학회지 Vol.7 No.4

본 연구는 고정효과모형을 이용하여 2003년부터 2007년까지 KOSPI종목 기업과 KOSDAQ종목 기업들을 대상으로 하여 두 시장 간에서 자본구조에 영향을 주는 변수들을 비교 분석하였다. KOSPI종목에서는 소유경영자 지분율은 레버리지에 역N자형으로 영향을 미치는 것으로 나타났다. 소유경영자 지분율이 12.54%까지에서는 지분율이 증가하더라도 레버리지는 감소하지만 12.54%를 넘어서면 지분율이 76.99%가 될 때까지 레버리지는 증가하다가 다시 감소하는 것으로 나타났다. 그러나 OSDAQ종목에서는 소유경영자 지분율은 자본구조에 영향을 미치지 않은 것으로 보인다. KOSPI종목과 KOSDAQ종목 기업 모두에서 영업이익률, 유동성, 경영위험은 레버리지에 유의하게 부(-)의 영향을 미치고 있는 것으로 확인되었다. 그러나 기업규모는 KOSDAQ종목 기업에서만 레버리지에 정(+)의 영향이 있는 것으로 나타났으며, KOSPI종목 기업들에서는 유의하지 않는다는 것이 확인되었다. 성장성은 KOSPI와 KOSDAQ종목 기업 모두에서 예상기호와 동일하게 나타났지만 레버리지에 유의하게 영향을 미치지 못 하는 것으로 보인다. 기관투자가지분율은 KOSPI종목 기업에서는 예상부호(-)와는 반대로 (모형 1)과 (모형 3)에서 레버리지와 정(+)의 관계가 있는 것으로 나타났으며, KOSDAQ종목 기업들은 예상대로 레버리지와 부(-)의 관계가 있는 것으로 나타났다. 외국인지분율은 KOSPI종목 기업에서는 예상대로 통계적으로 유의하게 레버리지에 부(-)의 영향을 주고 있지만, KOSDAQ종목 기업들에서는 유의하지 않은 것으로 보인다. The objective of this study is to compare the capital structure determinants between firms listed on the KOSPI and firms listed on the KOSDAQ by employing the fixed effects model for a period of 5 years from 2003 to 2007. The results indicate that influences of ownership style such as OWN, IN, and FOR on LEV are different in both markets. KOSPI model shows N-shaped inverse relationship between leverage and share of managerial ownership, but we cannot find any statistically significant relationship between leverage and ownership style in KOSDAQ model. The share of the institutional ownership(IN) has a positive influence on LEV in KOSPI model, but it has a negative influence on LEV in KOSDAQ model. Furthermore, the coefficient of the share of foreigners is significantly negative in KOSPI model, but it is insignificantly positive in KOSDAQ model. In relation to the variable SIZE, the estimated coefficient is positive and statistically significant only in KOSDAQ model. Finally, the rest of the explanatory variables such as ROA, LIQ, RISK have a significantly negative influence on the leverage and the variable GROW has not proved to be significant in both models.

국내 제약기업 광고비의 기술, 배분, 전체 효율성에 대한 DEA 윈도우 분석

현정원 ( Jeong Won Hyun ) 한국생산성학회 2011 生産性論集 Vol.25 No.3

This study investigates the technical, allocative, and overall advertising efficiencies for 14 Korean pharmaceutical firms using panel data from 2007 to 2009 by employing DEA window analysis. There are four inputs: TV advertising expense, Radio advertising expense, newspaper advertising expense, magazine advertising expense. One output includes sales. This paper relates the use of aggregate advertising cost data to the estimation of allocative efficiency when the price information about the inputs is not available. The results show that the overall, technical, and allocative efficiencies are 27.71%, 73.14%, and 35.89% respectively. We find that the main source of inefficiency is allocative rather than technical. In addition, this study implies that Korean pharmaceutical firms had not fully realigned their advertising expenses in response to a changing advertising market.

강원도지역 신용협동조합의 경영효율성 측정

구정옥(Koo, Chung-Ok),현정원(Hyun, Jeong-Won) 글로벌경영학회 2013 글로벌경영학회지 Vol.10 No.3

본 연구는 36개 강원도지역 신용협동조합을 대상으로 BCC모형과 SBM모형에 의하여 경영효율 성을 측정하고, 비교 분석하였다. SBM모형은 혼합모형, 산출지향모형, 투입지향모형으로 구분하여 효율성을 분석하였으며, 투입요소로는 유형자산, 영업비용 두 가지로 하고, 산출물로는 대출채 권, 예수부채와 순이익으로 하였다. 측정결과에 의하면 BCC모형, SBM(mix)모형, 산출지향 SBM 모형, 투입지향 SBM모형의 평균은 각각 0.8936, 0.5732, 0.6559, 0.7020이며, BCC모형 평균이 가장 높고 SBM(mix)모형 평균이 가장 낮은 것으로 나타났다. 4가지 모형 모두에서 의사결정단위 (DMU) 7, 11, 13, 14, 15, 16, 23, 31, 33이 효율적으로 확인되었으며, 이 중에서도 DMU 11, 14, 15는 비효율적 DMU들의 벤치마킹 대상이 되고 있음을 알 수 있다. DEA모형의 종류에 따라 결과가 달라질 수 있기 때문에 의사결정시에 모형의 타당성여부를 면밀하게 검토해야 한다. The purpose of this study is to estimate the efficiency of 36 credit unions in Kwang Won Do by data envelopment analysis. This study adopt the four different DEA methods including BCC, SBM, output-oriented SBM and input-oriented SBM to measure the efficiencies for the year 2010. Fixed assets and operating expenses are employeed as input variables, and three output variables such as loans, deposits, and net profits are used as outputs. This study shows that radically different results may be obtained by the different DEA models. Therefore, a careful examination of the models is necessary prior to selecting DEA models.

신용협동조합의 합병효과에 관한 실증적 검증소고

구정옥 ( Chung Ok Koo ),현정원 ( Jeong Won Hyun ) 한국생산성학회 2013 生産性論集 Vol.27 No.3

The effect of merger for 25 credit unions is measured using the non-parametric method of SBM data envelopment analysis. Interest expense, administrative expense, and miscellaneous expense are used as inputs and loans, deposits, and operating income are employed as outputs. The efficiencies of pre-merger(1999), merger year(2000), and post-merger(2001, 2002, 2003, 2004) are estimated from the panel data. Mergers appear to have significantly improved only for the last pre-merger year(2004). This phenomenon occurred because the merging credit unions were not flexible to adapt to new economic environments quickly. Even if the efficiency changes were not statistically significant for the first four years(2000, 2001, 2002, 2003) after pre-merger, the number of credit unions that had the efficiency score which increased or stayed in efficiency score were 17(68%), 16(64%), 14(56%), and 18(72%) for the periods. This facts indicate that mergers positively affect the efficiency of the credit unions.