摘要
本文基于2009-2017年山东省上市公司数据,运用DEA-Malmquist指数分产业测算山东省上市公司的运营效率,运用Tobit模型研究运营效率的影响因素。研究发现:(1)山东省上市企业的运营效率较低,仅有新材料产业的运营效率处于增长状态,其余产业的运营效率均出现不同程度的下滑,其中高端装备制造业的运营效率下降的幅度较大;(2)山东省上市公司规模、研发水平以及获利能力对其运营效率均具有正向影响,其中获利能力的作用最大,而研发水平的作用较小。因此,为了更好地提高山东省上市公司的运营效率,应该针对不同类型的战略性新兴产业公司采用不同的措施。
Based on the data of Listed Companies in Shandong Province from 2009 to 2017,this paper uses the Tobit model to study the influencing factors of the operation efficiency of Listed Companies on the basis of using DEA-Malmquist index to measure the operation efficiency of Listed Companies in Shandong Province.The results show that:(1)The operating efficiency of Listed Companies in Shandong Province is low,and only the new material industry is growing,while the other industries are declining in varying degrees,among which the operating efficiency of high-end equipment manufacturing industry is declining by a larger margin.(2)The scale,R&D level and profitability of Listed Companies in Shandong Province have a positive impact on their operational efficiency,in which profitability plays the most important role,while R&D level plays a smaller role.Therefore,in order to improve the operation efficiency of Listed Companies in Shandong Province,different measures should be adopted for different types of strategic emerging industry companies.
作者
李胜华
许齐放
杨友才
Li Shenghua;Xu Qifang;Yang Youcai
出处
《公共财政研究》
2019年第4期65-77,共13页
Public Finance Research Journal
