균형성과표와 Network-Malmquist 모델을 활용한 해운기업의 효율성 및 생산성 변화 분석

Abstract

The shipping industry has been depressed since 2008 as a result of the global financial crisis, which has put more pressure on shipping companies to optimize operations. This study aims at analyzing the financial data of Korea’s main shipping companies for the period 2011–2014 to establish the change in these companies’ efficiency and productivity using the Balanced Scorecard (BSC) and Network Data Envelopment Analysis (DEA) methods, together with the Network-Malmquist model. In this study, 28 shipping companies in Korea were selected as a representative sample because their detailed performance indicators were available from the BSC perspective. The results of Network DEA under the assumption of CRS (constant returns to scale) showed that bulk shipping companies had the highest efficiency, followed by tanker shipping companies and container shipping companies in that order. In terms of company size, companies having less than 100 employees had the highest efficiency, followed by those with 200 employees or more and those with 100 to 200 employees in that order. In the analysis of productivity using the Network-Malmquist model, the productivity of Korea's major shipping companies showed a continuing decline since 2012. By shipping type, the productivity of bulk shipping companies showed the smallest decline followed by container shipping companies, while that of tanker shipping companies showed the biggest decline. In terms of company size, shipping companies with 200 employees or more showed the least decline in productivity, followed by those having less than 100 employees, while the shipping companies with 100~200 employees showed the biggest decline. This study has important implications for shipping companies from the perspective of management. First, shipping companies with more than 100 employees should strive to improve their financial performance by enhancing their internal processes and customer service. In the results of Network DEA and traditional DEA, shipping companies having less than 100 employees was found to be more efficient than shipping companies with 100 employees and with 100~200 employees. Therefore, a large-scale shipping company will strive for further efficiencies than small-scale shipping companies to eliminate inefficiencies that appear depending on the larger scale. Second, the major shipping companies in Korea, and in particular, tanker shipping companies, need to make more efforts to improve their productivity. In the analysis of productivity changes using the Network-Malmquist model, productivity of tanker shipping companies showed more decline than in the bulk shipping companies and container shipping companies. Therefore, tanker shipping companies will strive to improve productivity and find ways to overcome the current difficult environment. In addition, shipping companies having less than 200 employees that has reduced the productivity than those with 200 employees or more will require more effort to improve productivity.