| Title |
Efficiency Analysis of Specialty Construction Companies by Industry and YearUsing DEA Model |
| Authors |
정대운(Jung, Dae-Woon) ; 김경래(Kim, Kyung-Rai) |
| DOI |
https://doi.org/10.5659/JAIK.2023.39.8.267 |
| Keywords |
Specialty Construction Company; Industry of Specialty Construction; Efficiency; Data Envelopment Analysis (DEA) |
| Abstract |
This study utilized the DEA model to analyze the efficiency of various specialty construction industries. Data from 2017 to 2021, covering
520 specialty construction companies, were examined. The findings indicated that these companies were inefficient in terms of scale,
highlighting the need for improvements through measures like reducing production factors, such as scale reduction. Among the specialty
construction industries, the reinforced concrete construction sector demonstrated significantly higher efficiency compared to others, emphasizing
the importance of benchmarking between these industries. The outbreak of the COVID-19 pandemic resulted in a temporary decline in
efficiency within the specialty construction industry in 2020, but a recovery was observed in 2021. However, operating profit efficiency saw a
substantial decline in 2021, primarily due to soaring raw material prices. Consequently, it was deduced that the increase in sales efficiency
resulted from these price surges. The study identified the reinforced concrete construction industry of metal, window, roofing, prefabrication
construction, and painting, wetting, waterproofing of the stone construction industry as most impacted by escalating construction material costs.
Therefore, it is crucial for specialty construction companies to enhance efficiency by reducing input factors, with a specific focus on
efficiency management strategies considering rising raw material prices for the aforementioned industries. It is important to note that this
study only analyzed specialty construction companies subject to external audits, and factors like technological changes were not considered.
The analysis primarily focused on relative efficiency within the same industry category. |