我国农业上市公司融资效率研究——基于DEA模型和Malmquist指数法的实证分析  

Research on Financing Efficiency of Agricultural Listed Companies in China——An empirical analysis based on DEA model and Malmquist index method

作　　者：谢闪闪 余国新[1] XIE Shan-shan;YU Guo-xin(School of Economics and Trade,Xinjiang University of Agriculture,Urumqi 830000,China)

机构地区：[1]新疆农业大学经济与贸易学院,新疆乌鲁木齐830000

出　　处：《数学的实践与认识》2019年第2期91-98,共8页Mathematics in Practice and Theory

基　　金：国家自然科学基金(71463058)

摘　　要：以我国农业上市公司2013-2017年的面板数据为样本,运用DEA模型和Malmquist指数法对不同金融成长周期的融资效率进行测度和分析.研究结果表明:农业上市公司的融资效率偏低,且大多数企业的综合效率表现为非有效;从不同金融成长周期阶段的融资效率来分析,其中大部分农业上市公司处于中年期,中年期的融资效率与农业上市公司整体融资效率的变化趋势相近,具有重要决定性作用;之后运用Malmquist指数方法从动态角度探究融资效率的变化,发现技术水平的降低是融资效率下降的重要原因.因此,进一步地提出提升农业上市公司融资效率的建议及措施.Based on 25 agricultural listed companies, the panel data of 2013-2017 are selected to measure and analyze the financing efficiency of different financial growth cycles using DEA method. The results show that the financing efficiency of agricultural listed companies is on the low side, and the comprehensive efficiency of most enterprises is not effective. The financing efficiency in middle age is similar to the change trend of the overall financing efficiency of agricultural listed companies, which plays an important and decisive role. Then, the Malmquist index method is used to explore the change of financing efficiency from a dynamic perspective. It is found that the decrease of technical level is an important reason for the decline of financing efficiency. Therefore, suggestions and measures to improve the financing efficiency of agricultural listed companies are put forward.

关 键 词：农业上市公司 融资效率 金融成长周期 DEA模型 

分 类 号：F324[经济管理—产业经济] F302.6