Evaluation of the efficiency and returns to scale of Korean logistics companies

초록

This study investigates the efficiency and returns to scale of Korean logistics firms using stochastic frontier analysis of panel data from 2006 to 2019. Drawing on a firm-level dataset from a substantial number of logistics companies, this study assesses the impact of innovation activities, government certification, and stock market participation on firm-level efficiency. The results indicate an average efficiency score of 0.75, with improvements over time primarily driven by investments in research and development and the attainment of government excellence certifications. The analysis reveals that firms engaging in innovative activities exhibit significantly higher efficiency levels, whereas stock market listings have minimal or negative impacts. Furthermore, most logistics companies operate under increasing returns to scale, suggesting that expansion can enhance efficiency and performance. These findings offer managerial insights for logistics firms by emphasizing the value of innovation, certification, and strategic scaling. The study provides policy recommendations aimed at encouraging innovation and certification initiatives to improve the overall efficiency of the logistics industry.

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