Earticle

초록

영어

The purpose of the paper is to measure cost-based capacity efficiencies under given existing outputs in Korean listed securities companies using short-run and long-run cost frontiers for 2010~2014. The reason why we selected Korean securities industry in the research is because, in the times which it was very difficult to increase profits due to restructuring and reduction of labor force for overcoming finance crisis since 2008, Korean securities industry had made effort to improve efficiency by reducing costs. But, as there has been many insistences that the performance of such efforts were slight in that profit did not much increase, and cost saving was also not enough, we thought that the cost reduction could be happened not only reduction of labor forces but also in use of capital facilities. Cost-based capacity efficiency in the study is defined as ratio of long-run cost efficiency over short-run cost efficiency. We measure how much observed cost is deviated from shortand long-run minimum costs through the concept of capacity efficiency. Specially, the capacity efficiency is measured in terms of cost when output produced is given. Expressing cost-based capacity in other words, the concept is defined as the gaps between short-run cost frontier and long-run cost frontier, and the gaps can be considered as gaps between the optimal fixed input and actual fixed input. If we do not use fixed input optimally, idle facilities may happen, and this brings additional costs, and another factor of inefficiency. The main point is to estimate the extent of unused capacities. That is, when the fixed inputs are not optimal in the short-run, additional cost occurs and the capacity inefficiency can exist. Empirical result reported that the fixed input was not used suitably in the most of Korean securities companies, and there existed the possibility to reduce cost a little more by adjusting the fixed inputs and output in the long-run.

목차

Ⅰ. 서론
 Ⅱ. 선행연구
 Ⅲ. 이론모형
 Ⅳ. 실증결과
 Ⅴ. 결론
 참고문헌
 Abstract

키워드

저자

• 박은화 [ Eunwha Park | 현대자동차그룹 HMC 투자증권, 울산중앙지점, 지점장 ] 주저자
• 강상목 [ Sangmok Kang | 부산대학교 경제통상대학 경제학부 교수 ] 교신저자

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  생산성연구: 국제융합학술지 [Productivity Research: An International Interdisciplinary Journal]

• 간기

  격월간

• pISSN

  1225-3553

• 수록기간

  1987~2025

• 등재여부

  KCI 등재

• 십진분류

  KDC 325 DDC 330