세계철강 기업들의 배분비효율성

초록

The purpose of this study is to examine whether firms in world steel industry have the allocative inefficiency caused by allocation of inputs for production. This study would be crucial to firms having a high competition intensity, because firms'profitability comes from not only the increase in technical efficiency but also the decrease in allocative inefficiency. Most prior researches, however, have analyzed overall technical efficiency by CCR model and pure technical efficiency by BCC model, and then calculated scale efficiency with the ratio of overall technical efficiency divided by pure technical efficiency to find out what is the cause of less efficiency. It is very rare to study for allocative inefficiency. To test allocative inefficiency, first, the aggregate the technical and allocative efficiency is measured by BCC model assumed with a single input which is summation of four types of costs, such as material, labor, depreciation, and interest cost. The technical efficiency, second, is measured by BCC model assumed with the four inputs matched to the four types of costs mentioned above. After that, two efficiency distributions are compared to test existence of allocative inefficiency. The result of this study shows that firms in world steel industry have the allocative inefficiency. This suggests that the firms having an allocative inefficiency would be capable of improving the aggregate the technical and allocative efficiency by reducing allocative inefficiency. In additional tests, the trend of three efficiencies such as the aggregate the technical and allocative efficiency, technical efficiency, and allocative efficiency suggests that allocative inefficiency will decrease for reduction of the aggregate the technical and allocative efficiency. After the analysis with samples separated by developing country and developed country, we found that the firms in developed country have the higher allocative efficiency, because these firms less spent the cost per sale than firms in developing country. This article contributes to the firms considering their efficiency improvement by testifying the allocative inefficiency that firms want to cut off, and by explaining how to know what firmhas an allocative inefficiency. Another contribution of this study is to show that how to calculate allocative inefficiency without price information in DEA. This way is to help to perform more detailed efficiency analysis under limited information.

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