Musical industry is labor-intensive and has a high added-value. Recently, Korean musical industry is growing quickly. Accordingly to Korea Culture and Tourism Institute, annual growth rate in musical is about 20% above. Especially, licence musical works are expanding in Korean Musical market. Howeve...
Musical industry is labor-intensive and has a high added-value. Recently, Korean musical industry is growing quickly. Accordingly to Korea Culture and Tourism Institute, annual growth rate in musical is about 20% above. Especially, licence musical works are expanding in Korean Musical market. However, profitabilities of licence musical works decline despite their huge production costs.
This paper analyzes the relative efficiency of musicals performed by Korean troupes using DEA model. We evaluate the CCR efficiency, BCC efficiency, scale efficiency, and RTS of 11 musicals. the musicals are composed of 4 creative musicals works such as Drip girls 2012, Bbororo 2012, Sherlock holmes 2012, and Jekyll and hyde 2011, and 7 license musical works such as Rebecca 2013, Rudolph 2012, Murder ballad 2013, Mozart 2012, Monte cristo 2013, Chicago 2012, and Elisabeth 2013.
The results are follows. First, Bbororo 2012, Elisabeth 2013, and Jekyll and hyde 2011 whose value of CCR efficiency are 1. Second, Drip girls 2012, Monte cristo 2013, Bbororo 2012, Sherlock holmes 2012, Elisabeth 2013, and Jekyll and hyde 2011 whose value of BCC efficiency are 1. Third, Bbororo 2012, Elisabeth 2013, and Jekyll and hyde 2011 whose value of scale efficiency are 1. Fourth, Rebecca 2013, Rudolph 2012, Murder ballad 2013, Mozart 2012, Monte cristo 2013, Sherlock holmes 2012, and Chicago 2012 are increasing returns to scale. Bbororo 2012, Elisabeth 2013, and Jekyll and hyde 2011 are constant returns to scale. however, Drip girls 2012 is decreasing returns to scale. Finally, values of CCR efficiency, BCC efficiency, and scale efficiency on 4 creative musicals works are higher than those on 7 license musical works.
In addition, we have conducted an expert survey by 2 investors, 1 planner, and 2 directors to deduct efficiency promotion plans of a creative musical and a foreign license musical.
We hope that the results give musical troupes useful sources of benchmarking information
However, our paper has some limitations that should be taken into consideration. First, musicals share an public goods characteristic. but we considered costs, domestic operating costs, and promotional costs. so, it is necessary to use other information. Second, sample size is too small. Accordingly, we need to conduct an experiment using a large number of samples.
Musical industry is labor-intensive and has a high added-value. Recently, Korean musical industry is growing quickly. Accordingly to Korea Culture and Tourism Institute, annual growth rate in musical is about 20% above. Especially, licence musical works are expanding in Korean Musical market. However, profitabilities of licence musical works decline despite their huge production costs.
This paper analyzes the relative efficiency of musicals performed by Korean troupes using DEA model. We evaluate the CCR efficiency, BCC efficiency, scale efficiency, and RTS of 11 musicals. the musicals are composed of 4 creative musicals works such as Drip girls 2012, Bbororo 2012, Sherlock holmes 2012, and Jekyll and hyde 2011, and 7 license musical works such as Rebecca 2013, Rudolph 2012, Murder ballad 2013, Mozart 2012, Monte cristo 2013, Chicago 2012, and Elisabeth 2013.
The results are follows. First, Bbororo 2012, Elisabeth 2013, and Jekyll and hyde 2011 whose value of CCR efficiency are 1. Second, Drip girls 2012, Monte cristo 2013, Bbororo 2012, Sherlock holmes 2012, Elisabeth 2013, and Jekyll and hyde 2011 whose value of BCC efficiency are 1. Third, Bbororo 2012, Elisabeth 2013, and Jekyll and hyde 2011 whose value of scale efficiency are 1. Fourth, Rebecca 2013, Rudolph 2012, Murder ballad 2013, Mozart 2012, Monte cristo 2013, Sherlock holmes 2012, and Chicago 2012 are increasing returns to scale. Bbororo 2012, Elisabeth 2013, and Jekyll and hyde 2011 are constant returns to scale. however, Drip girls 2012 is decreasing returns to scale. Finally, values of CCR efficiency, BCC efficiency, and scale efficiency on 4 creative musicals works are higher than those on 7 license musical works.
In addition, we have conducted an expert survey by 2 investors, 1 planner, and 2 directors to deduct efficiency promotion plans of a creative musical and a foreign license musical.
We hope that the results give musical troupes useful sources of benchmarking information
However, our paper has some limitations that should be taken into consideration. First, musicals share an public goods characteristic. but we considered costs, domestic operating costs, and promotional costs. so, it is necessary to use other information. Second, sample size is too small. Accordingly, we need to conduct an experiment using a large number of samples.
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