신용협동조합의 합병효과에 관한 실증적 검증소고 = An Empirical Study on the Merger Effects of Credit Unions

다국어 초록 (Multilingual Abstract)

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.

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