Semiconductor industry's transformation path under circular economy: Evidence from micro-level efficiency evaluation

Semiconductors are the cornerstone of rapid information flow in the circular economy era and are crucial for society as a whole. Improving the efficiency and achieving sustainable development of the semiconductor industry are important topics. This research applies the DEA method to evaluate the development efficiency of 36 top semiconductor companies from 2018 to 2022 and together with Malmquist productivity index (MPI) analysis examines the dynamic changes in their efficiency values. We use the Tobit model for regression analysis to determine the impact of four different factors on the sustainable development of the semiconductor industry. The findings are as follows. 1) Insufficient technological capabilities and management experience are the main obstacles to the development of the semiconductor industry, and intelligent manufacturing production methods and technological changes can help this industry achieve transformation and upgrading. 2) Most semiconductor companies have not reached an optimal production scale and can improve themselves by adjusting resource input and production scale. 3) Different regions' economic development levels and R&D funding play a crucial role in local semiconductor industry development, while trade openness and ecological environment performance also have significant impacts. Finally, we provide targeted recommendations and measures for global semiconductor industry development.