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J. Open Innov. Technol. Mark. Complex. 2019, 5(1), 4; https://doi.org/10.3390/joitmc5010004

Efficiency Analysis of East Asian Zinc Smelters and the Effects of Capacity and Bonus Zinc on Efficiency

1
Department of Business and Administration, Graduate School of Hanyang University, Seoul 04763, Korea
2
School of Business, Hanyang University, Seoul 04763, Korea
*
Author to whom correspondence should be addressed.
Received: 16 November 2018 / Revised: 11 January 2019 / Accepted: 14 January 2019 / Published: 16 January 2019
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Abstract

Non-ferrous metals are widely used as basic materials in various industrial fields, and zinc is a metal that is produced and used next to iron, aluminum, and copper. In this study, DEA (data envelopment analysis) was applied to measure the efficiency of 43 zinc smelters in three countries in East Asia: Korea, China, and Japan. The constant returns to scale (CRS) and the variable returns to scale (VRS) models, and the slack-based measure (SBM) were used for the analysis. As a result of the efficiency analysis, there were three efficient zinc smelters in the CRS model, 14 in the VRS model and 14 in the SBM. The average efficiency was 0.458 based on the SBM, which indicates that there is room for improvement in efficiency. In addition, the average scale efficiency value was 0.689, showing the scale to be inefficient. Therefore, it can be seen that the labor cost and the energy cost must be brought to an appropriate level. The Tobit regression analysis was used to analyze the causes of efficiency. The greater the capacity and the larger amount of bonus Zn of the refinery, the higher the efficiency of the refinery. View Full-Text
Keywords: zinc smelter; East Asia; DEA; SBM; efficiency analysis; Tobit regression analysis zinc smelter; East Asia; DEA; SBM; efficiency analysis; Tobit regression analysis
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Park, H.S.; Kim, D. Efficiency Analysis of East Asian Zinc Smelters and the Effects of Capacity and Bonus Zinc on Efficiency. J. Open Innov. Technol. Mark. Complex. 2019, 5, 4.

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