배출권거래제 도입 전후의 환경경영효율성 분석

The purpose of this study is to measure environmental management efficiency using Data Envelopment Analysis(DEA) and to verify the effect of the introduction of the Emission Trading System(ETS) on environmental management efficiency. The analysis is conducted on samples whose carbon emission information is disclosed as targets of 'Management of Targets for GHGs and Energy' and the 'ETS' among manufacturing firms listed on the Korean stock market(KOSPI & KOSDAQ). And than the difference in environmental management efficiency measured before and after the introduction of ETS is verified using CCR, BCC, Super-Efficiency, and Malmquist models. The empirical results are summarized as follows. First, it is found that the CCR environmental management efficiency of the chemical product manufacturing firms increased significantly after the introduction of the ETS. Second, the scale of inefficiency measured by the DEA slack value showed a general tendency to decrease. Third, the Super-Efficiency environmental management efficiency also showed that only the CCR efficiency value of the chemical product manufacturing firms increased significantly after the introduction of the ETS. Finally, the productivity measured by Malmquist model is increased after the introduction of the ETS. The results of this study are significant in that they provided empirical evidence for companies to strengthen their environmental management strategies. In also it is expected to provide policy implications in that it attempted to analyze the institutional effectiveness of the ETS, a representative environmental regulation in Korea. However, the limitation of this study is that additional factors other than the influence of the introduction of the ETS are not reviewed as determinants of corporate environmental management efficiency. In addition, consistent research results are not observed in the entire industry.