재고최소화와 기업성과 간의 관계에 대한 실증분석

Abstract

Purpose - Over the past two decades, many Korean steel companies have actively introduced lean practices into operations for competitive improvement. Taking this point into account, this study investigates the relationship between lean practices and firm performance in Korean Steel Companies.
 Design/Methodology/Approach - We employ the empirical leanness indcator (ELI) suggested by Eroglu and Hofer (2011) to measure the firm’s inventory leanness; this reflects how effectively a firm applies the lean practices, and we use the return on sale (ROS) and return on asset (ROA) as the firm performance variables. In order to analyze the impact of inventory leanness on firm performance, we investigate the relationship between the ELI and both ROS and ROA with regression. We conduct the analysis using 55 Korean steel companies for the period 2009-2019.
 Findings - First, ELI has a positive effect on ROS and ROA. Second, there is a positive relationship between firm size and firm performance. Third, the moderating effects of firm size on the relationship ELI and ROS (ROA) are insignificant.
 Research Implications - The main result of this study implies that the efforts of Korean steel companies to apply lean operations were fruitful in terms of firm performance. In addition, we propose that managers in the steel industry need to actively introduce lean approach for operational improvement.