제조업의 경영성과에 영향을 미치는 요인 분석

An Analysis of the Determinants of Management Performance in Manufacturing: A Focus on Industrial Labor Income Shares

This paper empirically analyzed the effect of industrial labor income shares including self-employed labor income on corporate management performance, with a focus on the manufacturing industry including, large enterprises and SMEs, export enterprises and domestic enterprises. Results of the empirical analysis using nine macroeconomic indicators other than the labor income shares by industry from the period covering 1993 to 2016, labor income shares by industry was shown to have a statistically significant negative impact on the overall performance of manufacturing industries, large enterprises and SMEs, export companies and domestic enterprises. In particular, large enterprises have a greater response to their management performance than small and medium enterprises. On the other hand, exporters responded more strongly in terms of sales growth rate while domestic companies responded more strongly relative to operating income to sales. The Korean economy is still heavily dependent on manufacturing and exports led by large companies.