How to measure company productivity using value-added: A focus on Pohang Steel (POSCO)

Asia Pacific Journal of Management

Volumn 25, Issue 2, 2008, Pages 209-224

  Lieberman, Marvin B ^a   Kang, Jina ^b  

^a UNIVERSITY OF CALIFORNIA   (United States)

^b Seoul National University   (South Korea)

Author keywords

Performance assessment; POSCO; Productivity; Steel industry; Value added

Indexed keywords

EID: 42149181800     PISSN: 02174561     EISSN: 15729958     Source Type: Journal    
DOI: 10.1007/s10490-007-9081-0     Document Type: Article

References (38)

1. Amsden, A. H. 1989. Asia's next giant: South Korea and late industrialization. New York: Oxford University Press.
2. Auty, R. M. 1991. Creating competitive advantage: South Korean steel and petrochemicals. Tijdschrift voor Economic en Social Geografie, 82: 15-29.
3. Baily, M. N., & Gersbach, H. 1995. Efficiency in manufacturing and the need for global competition. Brookings Papers on Economic Activity (Microeconomics). Washington DC: Brookings Institution, pp. 307-358.
4. Bremner, B., Ihlwan, M., & Roberts, D. 2004. POSCO: One sharp steelmaker. Business Week, August 30.
5. Brynjolfsson, E., & Hitt, L. M. 2003. Computing productivity: Firm-level evidence. Review of Economics and Statistics, 85: 793-808.
6. Caves, R. E. 1992. Industrial efficiency in six nations. Cambridge, MA: MIT Press.
7. Chen, E. K. Y. 1997. The total factor productivity debate: Determinants of economic growth in East Asia. Asian-Pacific Economic Literature, 11: 18-38.
8. Coelli, T. J., Rao, D. S. P., & Battese, G. E. 1998. An introduction to efficiency and productivity analysis. Boston: Kluwer.
9. D'Costa, A. P. 1994. State, steel and strength: Structural competitiveness and development in South Korea. The Journal of Development Studies, 31: 44-81.
10. Duvall, M. 2002. POSCO: The next big steel. Baseline Magazine, 1(7): June.
11. Felipe, J. 1999. Total factor productivity growth in East Asia: A critical survey. The Journal of Development Studies, 34: 1-41.
12. Goldman Sachs. 2003. POSCO. New York: Goldman Sachs.
13. Hayes, R. H., & Cho, D.-S. 1992. Pohang iron and steel company (POSCO). Harvard Business School Case #9-693-041.
14. Hulten, C. R., & Wykoff, F. C. 1981. The measurement of economic depreciation. In C. R. Hulten (ed.). Depreciation, inflation, and the taxation of income from capital. Washington, D.C.: The Urban Institute Press.
15. Jorgenson, D. W. 1995. Productivity, vol. 2: International comparisons of economic growth. Cambridge, MA: MIT Press.
16. Jorgenson, D. W., & Kuroda, M. 1992. Productivity and international competitiveness in Japan and the United States, 1960-1985. Economic Studies Quarterly, 43: 313-325.
17. Kaplan, R. S., & Norton, D. P. 1992. The balanced scorecard-measures that drive performance. Harvard Business Review, 70: 71-79.
18. Lieberman, M. B., & Balasubramanian, N. 2007. Measuring value creation and its distribution among stakeholders of the firm. Working paper, UCLA Anderson School of Management.
19. Lieberman, M. B., & Dhawan, R. 2005. Assessing the resource base of Japanese and U.S. auto producers: A stochastic frontier production function approach. Management Science, 51(7): 1060-1075.
20. Lieberman, M. B., & Johnson, D. 1999. Comparative productivity of Japanese and US steel producers, 1958-1993. Japan and the World Economy, 11: 1-27.
21. Lieberman, M. B., Lau, L. J., & Williams, M. D. 1990. Firm-level productivity and management influence: A comparison of U.S. and Japanese automobile producers. Management Science, 36: 1193-1215.
22. Mammone, J. L. 1980. Productivity measurement: A conceptual overview. Management Accounting (June): 36-42.
23. Mathews, J. A. 2006. Dragon multinationals: New players in 21st century globalization. Asia Pacific Journal of Management, 23: 5-27.
24. Meyer, K. E. 2006. Asian management research needs more self-confidence. Asia Pacific Journal of Management, 23: 119-137.
25. Meyer, K. E. 2007. Asian contexts and the search for general theory in management research: A rejoinder. Asia Pacific Journal of Management, 24: 527-534.
26. Neely, A., Gregory, M., & Platts, K. 1995. Performance measurement system design: A literature review and research agenda. International Journal of Operations & Production Management, 15: 80-116.
27. Norworthy, J. R., & Malmquist, D. H. 1983. Input measurement and productivity growth in Japanese and US manufacturing. American Economic Review, 73: 947-967.
28. Oum, T. H., & Yu, C. 1998. Winning airlines: Productivity and cost competitiveness of the world's major airlines. Boston: Kluwer.
29. POSCO Annual Reports, 1968-2006. South Korea: POSCO.
30. Rhee, J.-C. 1994. The state and industry in South Korea: The limits of the authoritarian state. New York: Routledge.
31. Sato, H. 2005. 'Total factor productivity versus realism' revisited: The case of the South Korean steel industry. Cambridge Journal of Economics, 29: 635-655.
32. Schefczyk, M. 1993. Operational performance of airlines: An extension of traditional measurement paradigms. Strategic Management Journal, 14: 301-317.
33. Stern, J. J., Kim, J., Perkins, D. H., & Yoo, J. 1995. Industrialization and the state: The Korean heavy and chemical industry drive. Cambridge, MA: Harvard Institute for International Development.
34. Truett, L. J., & Truett, D. B. 1997. The Korean metals industry and economic development. Journal of Asian Economics, 8: 333-347.
35. Tsui, A. S. 2004. Contributing to global management knowledge: A case for high quality indigenous research. Asia Pacific Journal of Management, 21(4): 491-513.
36. Tybout, J. R. 2000. Manufacturing firms in developing countries: How well do they do, and why? Journal of Economic Literature, 38: 11-44.
37. Van Ark, B., & Pilat, D. 1993. Productivity levels in Germany, Japan, and the United States: Differences and causes. Brookings Papers on Economic Activity (Microeconomics). Washington DC: Brookings Institution, pp. 1-69.
38. Yuhn, K.-H., & Kwon, J.-K. 2000. Economic growth and productivity: A case study of South Korea. Applied Economics, 32: 13-23.