Journal of Information Technology Services (한국IT서비스학회지)

Korea Society of IT Services (한국IT서비스학회)
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R&D Investment and Operational Efficiency Analysis of IT Firms : Comparative Analysis of Service and Manufacturing Sectors

IT 기업의 R&D 투자 및 운영 효율성 분석 : 서비스업 및 제조업의 비교를 중심으로

  • Received : 2015.10.26
  • Accepted : 2016.04.21
  • Published : 2016.06.30
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Abstract

In this study, we conducted a comparative analysis of R&D investment efficiency and operational efficiency of IT firms using Data Envelopment Analysis (DEA). We categorized thirteen sample firms into two groups-IT manufacturing and IT service-after an extensive literature review on IT industry classification. We adopted an output-oriented two-stage DEA model suggested by Banker et al. (1984) with total asset and R&D investment as input variables. Then, we constructed investment efficiency and operational efficiency by using Return on Equity (ROE) and Return on Asset (ROA) as intervening variables and operating income and Earnings Per Share (EPS) as output variables. The outcome of the analysis is summarized as follows. First of all, IT manufacturing firms were more efficient (57% on average) than IT service firms. To be specific, IT service firms showed decreasing returns to scale (DRS) with diseconomy of scale. In contrast, IT service firms showed higher operational efficiency (81.5% on average) than IT manufacturing firms. Also, we conducted a Mann-Whitney U test to compare the output of IT service firms and IT manufacturing firms. Lastly, we found a negative correlation ($R^2$ = -.754) between R&D investment efficiency and operational efficiency which infers the trade-off between two constructs

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References

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