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The Swedish Paradox is a well-known phenomenon related to high research and development (R&D) investment with supposedly low aggregate economic performance owing to economic saturation. The Korean economy has not yet become an advanced economy; however, its R&D performance is negligible. Recently, also the R&D share of the GNP has become much higher, and its contribution to the economic growth rate is rapidly decreasing, implying a negative relationship between R&D activities and economic performance. This study uses slacks-based data envelopment analysis to investigate investment performance at the local government level in Korea. Our findings reveal that the average score for R&D investment performance in Korea is 64%, indicating huge potential for an efficiency enhancement of 36%. Notably, among the 16 local governments examined, Seoul and its surrounding metropolitan areas showed the lowest R&D efficiency, while Gangwon and Gwangju exhibited superior performance. Since these two regions have promoted specific missions, such as the medical hub in Gangwon and the optical fiber strategic platform in Gwangju, precise and accurate differentiation appears necessary to avoid a lack of governance. To determine the workable mechanism of R&D support policies, we further divided R&D productivity into three categories by incorporating the Malmquist Index (MI). The paper productivity of R&D shows an increasing trend over the experimental period from 2016 to 2021. However, overall, the MI shows slightly deteriorating productivity with 0.978, owing to the aggravating effect of patents and commercialization of R&D. The success in the paper comes from the harmonized partnership between the strong push factor of the government and voluntary pull factor of the R&D support receiving universities. Thus, we suggest that the Korean government should not depend on the superficial effectiveness of R&D in the term but on public–private partnerships with stronger performance-oriented responsibility. [ABSTRACT FROM AUTHOR]

Risks exist in all aspects of our lives. Using data in both Scopus and ISI Web of Science, this review paper identifies pioneer work and pioneer scholars in enterprise risk management (ERM). Being ranked the first based on the review data, Desheng Wu has been active in this area by serving as a good academic network manager on the global research network, His global efforts with diverse networking have enabled him to publish outstanding papers in the field of ERM. Therefore, this paper also conducts a literature review of his papers and critical analysis of the work of Wu and Olson, from the perspective of the ERM, to glean implications and suggestions for the optimization and customization of the ERM. [ABSTRACT FROM AUTHOR]

This paper examines total-factor environmental performance for various regions in China based on the metafrontier directional distance function. This approach can measure the environmental performance of undesirable outputs (pollutants). Technological heterogeneity can be taken into account simultaneously by taking a metafrontier approach. First, the concept of a generalized metafrontier directional distance function is proposed for the model. Second, several standardized composite indicators of environmental performance are developed. Third, the metafrontier directional distance function is estimated by solving a series of data envelopment analysis models. Finally, various regions in China are empirically examined, and the results and their implications are discussed. The results indicate substantial heterogeneity in environmental performance across regions, and some policy suggestions are proposed based on these results. [ABSTRACT FROM AUTHOR]

Although sustainability recently became a key factor in social science, little progress has been made toward improving the measurement of sustainability performance. This paper proposes composite corporate sustainability performance indicators using a meta-frontier generalized directional distance function. This advanced approach can measure the efficiency of corporate social responsibility activities by benchmarking, while simultaneously considering industrial heterogeneities, using the meta-frontier approach. First, we propose the concept of a meta-frontier generalized directional distance function. Second, several standardized composite indicators related to corporate sustainability performance are developed. The meta-frontier directional distance function is estimated by solving a series of data envelopment analysis models. Chinese state-owned listed enterprises are then empirically examined using the proposed model. We find significant group heterogeneities in terms of corporate sustainability performance. We also derive some policy implications using the empirical results. [ABSTRACT FROM AUTHOR]

Abstract: This paper uses nonparametric efficiency analysis technique to estimate the energy efficiency, potential emission reductions and marginal abatement costs of energy-related CO2 emissions in China. We employ a non-radial slacks-based data envelopment analysis (DEA) model for estimating the potential reductions and efficiency of CO2 emissions for China. The dual model of the slacks-based DEA model is then used to estimate the marginal abatement costs of CO2 emissions. An empirical study based on China’s panel data (2001–2010) is carried out and some policy implications are also discussed. [Copyright &y& Elsevier]

In this paper, we present an empirical study on the efficiency of the major ports in Northeast Asia. To become the global hub in a newly emerging Northeast Asian logistics network, the efficiency of the ports and their success factors are important for sustainable development. Thus, the comparison of port efficiency may shed light on this rapidly changing and thus very risky logistics network in Asia. The paper analyzes empirical results on the efficiencies of major ports by applying the generally acceptable methodology of data envelope analysis (DEA) and its variant models. In our empirical results, most of ports showed the stronger position in pure efficiency, but weak position in scale efficiency. It implies that the promotion policies to become a hub under the rapidly changing logistics network should be based on the operational innovation such as the effective governance by the anchor companies or strategic alliances with global partners. So the paper strongly requests that the government should focus on the governance, instead of the infrastructure or facility to avoid the operational risks under the rapidly changing logistics network. Therefore, all the seaports should have sustainable development strategies that adapt to technological change. This paper concludes that the scale- or supply-oriented policies should be changed to emphasize more the governance of port operations. Also, the paper concludes that investment in infrastructure does not improve efficiency; rather self-created logistics demand and strategic alliances, such as anchor companies, do improve the efficiency as demonstrated by the Tobit model. [ABSTRACT FROM AUTHOR]

• 14 Korean airports shows low efficiency (0.323) during the period (2014 to 2018). • International airports show a much higher average efficiency (0.515) than domestic airports (0.131). • Airport efficiency is strongly related to the regional economic performance. • Korean airports exhibit many labor-intensive characteristics. This study examines the operational efficiency of 14 Korean airports on the local economy using a slack-based model data envelopment analysis. The average efficiency score of the 14 airports during the period (2014–2018) is 0.323, which implies there is a 0.677 potential improvement. International airports show a much higher average efficiency (0.515) than domestic airports (0.131). Among international airports, the three airports of Kimpo, Kimhae, and Jeju show better performances, while Muan (0.068) and Yangyang (0.037) show the worst performances. For domestic airports, only Gwangju Airport shows a slightly higher efficiency from the average (0.373), while all other domestic airports show a value less than 0.2. To investigate the governance link between airport efficiency and the nearby local economies, we conduct a panel regression at the second stage. Results show that airport efficiency is strongly related to the local economic performance, with a coefficient value of 1.39. We then calculate input elasticity based on Morishima elasticity to investigate which input investment should be carried out to fulfill the missing links on the governance of airports. Results show that Korean airports exhibit labor-intensive characteristics on average, implying that a facility-oriented expansion plan may not be the sustainable choice for local economy. [ABSTRACT FROM AUTHOR]

Emission convergence is a fundamental ground for cooperative CO2 emission mitigation. We investigate the emission convergence in the Regional Comprehensive Economic Partnership (RCEP) countries using a modified dynamic β-convergence model. From 2000 to 2017, the per capita emissions of the RCEP countries and its subgroups show a statistically significant diverging pattern. Nonetheless, upon accounting for multiple inputs and outputs using data envelopment analysis, we find that two out of the three emission performance indicators show statistically significant absolute convergence. The carbon emission efficiency (CEE) of the 15 RCEP countries grew from 0.5719 in 2000 to 0.6725 in 2017 and will converge at a value of 0.8187, while the carbon–population performance (CPP) increases from 0.4534 to 0.5690 and will converge at 0.7831. Furthermore, using a conditional β-convergence model, we find that trade volume has no significant effect on the growth rates of CEE and CPP, but can accelerate their speed of convergence, which indicates that the establishment of the RCEP may facilitate the convergence of its 15 member countries on CEE and CPP. Our findings suggest that emission mitigation agreement in the RCEP countries is feasible. CEE- or CPP-based indicators can be used for emission budget allocation. [ABSTRACT FROM AUTHOR]

• We built a life-cycle data envelopment analysis framework to study atmospheric environmental efficiency (AEE). • AEE was decomposed into CO 2 and PM 2.5 emission efficiencies. • PM 2.5 efficiency increase was the main driver of China's transport AEE improvement. • The western region led China's transport sector AEE since 2014. • China needs market-oriented mechanisms to alleviate environmental regulation cost. The synergistic reduction of CO 2 emissions and air pollutants is of great concerns in China's transport sector environmental regulation. This study built up a life-cycle data envelopment analysis model to inclusively measure CO 2 and PM 2.5 management performance of China's 30 provinces' transport sectors during 2013–2017 using the atmospheric environmental efficiency (AEE). We showed that the PM 2.5 efficiency improvement was the main driver of China's AEE increase from 0.544 in 2013 to 0.649 in 2017. The west of China exhibited the fastest growth and led the AEE since 2014; the central region also increased its AEE by 14.6% in the study period, while the east showed a negligible AEE improvement. Furthermore, the results showed that strict environmental regulation in the transport sector may cost China's economic growth. Hence, we suggest that CO 2 management demands more regulatory attention, and that market-oriented regulatory mechanisms, such as integrating the transport sector into carbon and PM 2.5 emission trading systems, is needed to lower cost and enhance AEE. [ABSTRACT FROM AUTHOR]