세계 주요철강기업의 국제경쟁력에 관한 비교 연구 : 확률변경함수를 이용한 기술적 효율성의 측정과 비교

초록

Using the panel data of 38 major steel producers from 17 countries for the period of 1978-1998, this study estimates and compares the technical efficiencies of world's major steel firms. Parametric approach with stochastic frontier production function is adopted for the estimation. Core determinants of the differences in efficiencies for the steel firms are empirically modeled and examined. We also accounted for the theories behind the findings. Three sub-periods are used to capture the dynamics of efficiency changes in world's leading steel firms. POSCO, Usinor and NUCOR stand out in their efficiency enhancement efforts and performances throughout the sample periods. The empirical results also suggest that Japanese steel producers are relatively more efficient than U.S. and German steel firms. Empirical results of the study are consistent with previous literature on the subject in the arena.

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