골프장 산업의 효율성과 골프회원권 가격 결정요인 분석

Abstract

본 연구에서는 정부가 추진하고자 하는 공기업 골프장의 민영화와 관련하여 전체 골프장 산업의 기술적 효율성과 그 결정 요인을 추정하고 더 나아가 골프회원권 가격의 결정요인을 분석하고자 목적을 두었다. 골프장 산업의 기술적 효율성 측정은 확률적 생산경계함수의 접근방법을 사용하였다. 1999년부터 2008년까지 85개 골프장의 패널자료에 대한 개별 골프장 별로 지수분포를 가정하여 비효율성을 실증 분석한 결과 공기업 골프장이 민영골프장보다 효율성이 다소 앞서고 있어서, 예상과는 다른 추정결과를 나타내고 있다. 중력모형에서 사용되는 거리변수가 골프장 효율성을 결정하는 요인으로 적합한 것으로 분석되었다. 그 밖의 실증분석의 결과로 골프장의 규모, 회원제․ 대중제의 운영형태, 골프장 산업의 시장 경쟁 상태를 설명변수로 두고 패널 분석한 결과, 규모가 커질수록, 시장이 경쟁적으로 될수록 효율성은 높아졌으나, 회원제․ 대중제의 운영형태는 유의적인 변화를 가져오지 못했다. 골프회원권 시장에 대한 패널분석을 통한 실증분석 결과에서는 회원권 가격은 회원 수와 반비례하고, 골프장의 질을 나타내는 그린피와 친절한 서비스의 지표인 종업원 수, 내장객 수와는 정비례함을 보여주고 있다.; Abstract

The purpose of this study is to estimate technical efficiencies of the golf course industry and its major determinants, with reference to the current administration’s intent to privatize state-owned enterprises including the management of the state-run golf courses. In addition, some main elements which decide the price of golf course memberships are also analyzed. As for the estimation of valid technical efficiency of the golf course industry, the concept of production frontier functions has been adopted. Empirical analyses were carried out based on the unbalanced panel date on each of 85 golf courses from 1999 to 2008, by assuming its respective exponential distribution of inefficiencies. It is found that the efficiencies of state-run golf courses led private golf courses with a small margin, which was much different from than previously expected. Distance variables, from the gravity model that has been limitedly applied to the fields of trade and traffics, were viewed as appropriate to determine technical efficiencies of the golf course industry and price of golf course memberships. As for the other additional results of empirical panel analyses, size of a golf course, operation type of golf course such as membership club or public, and the competitiveness of the golf course industry as explanatory variables, the efficiency increased as the market became larger and competitive. No obvious difference was, however, noticed in comparison of the public golf courses and membership golf courses. The results of panel analysis on the price for the golf course membership were showed in an inverse relationship between price and the number of membership holders. However, a positive relationship was observed in comparison with price of golf course with the number of visitors, the green fees as well as number of staffs, which will provide good service availability and reliability.