Evolving Performance of Food Processing Firms in Korea: Time Variations in Productivity Change Components
2005
Lee, S.J. (Seoul National University, Seoul, Republic of Korea) | Kim, H.H. (Seoul National University, Seoul, Republic of Korea) | An, D.H. (Seoul National University, Seoul, Republic of Korea), E-mail: dha@snu.ac.kr
Using firm-level financial statement data, we investigated the performance of Korean food processing industry, especially focusing on the dynamics of productivity changes. Unlike the conventional production function framework, we employed a frontier function approach based on Luenberger's shortage function. The results showed that (ⅰ) productivity growth of food processing industry is attributable to technical progress rather than efficiency change; (ⅱ) efficiency has improved after financial crisis in 1997. We also found that there exists significant differences in the pattern of productivity change among firm groups defined by firm characteristics such as SIC code, sales target, size, and ownership.
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