LAUSR

Abstract This research explores the efficiency of Transit-Oriented Development (TOD) at transit stations in Seoul using a two-stage bootstrap Data Envelopment Analysis with truncated regression. The ridership, in terms of the bus, subway, and shared bicycle usage within the transit stations' impact area, is judged as an immediate output of TOD performance, and indicators relating to the core concepts of TOD are selected as inputs. In the first-phase, TOD efficiency estimates are computed and regressed on environmental variables in the subsequent phase to identify contributory factors of TOD efficiency. Assessing the performance of TOD at the transit station revealed that the stations located around the CBD where commercial activities highly concentrated and transit stations are connected were more efficient compared to those located at the periphery of the city. The second-stage results indicate that a rise in pedestrian volume, the number of shared-bicycle stations and bus stops, commercial floor area, and traffic congestion around a transit station improves the efficiency of TOD. Our study makes a significant contribution to the literature by employing a more robust approach to explore TOD efficiency at transit stations. The findings of this study provide useful implications and insights for urban planners and policymakers across cities.