基于两阶段网络DEA模型的饲料业上市公司融资效率分析  

Evaluation of financing efficiency of listed companies in feed industry based on the network DEA model

作　　者：邱桂杰[1] 郭中浩 QIU Guijie;GUO Zhonghao(College of Biological and Agricultural Engineering,Jilin University,Changchun,Jilin Province 130012,China)

机构地区：[1]吉林大学生物与农业工程学院,吉林长春130012

出　　处：《中国饲料》2023年第18期140-143,共4页China Feed

基　　金：吉林大学社会科学研究项目(SKH2022006)。

摘　　要：在饲料产业集约化和差异化发展背景下,融资效率是企业取得发展优势的重要支持。同时,传统的DEA模型将决策单元视为“黑箱”,在运行机制分析上有一定局限性。为探求2021年中国饲料业上市公司融资效率,文章采用两阶段关联网络DEA模型,选取14家饲料行业上市公司整体融资效率及各子阶段效率进行评价,并从行业、板块及各企业层次方面进行分析,为相关内部经营者和外部投资者科学决策提供参考。结果表明,从行业整体来看,饲料上市企业的融资活动及两个子阶段均处于低效状态,且资金配置效率为短板;从产品板块来看,从事畜禽饲料生产的企业融资效率整体优于从事水产饲料生产的企业;从具体企业来看,各家企业在两个阶段效率上相对同业各有优劣。In the context of the intensive and differentiated development of the feed industry,financing efficiency is an important support for enterprises to achieve the advantages of development.At the same time,the traditional DEA model regards the decision-making unit as a“black box”,and has certain limitations in the analysis of the operating mechanism.In order to explore the financing efficiency of listed feed companies in 2021,this article uses two-stage related network DEA model,selects the overall financing efficiency of 14 listed feed companies and evaluate the efficiency of each sub-stages,and Provide reference suggestions for the scientific decision-making of relevant business operators and external investors.The result shows,from the perspective of the industry,the financing activities of listed feed companies and the two sub-stages are in a inefficient state,and the capital allocation efficiency is a short board;from the perspective of the product sector,the enterprises engaged in the production of aquatic feed works better than their counterparts in livestock and poultry feed;from the perspective of specific enterprises,each company has its own advantages and disadvantages compared to the industry's average efficiency.

关 键 词：两阶段关联网络DEA模型 饲料业上市公司 融资效率 

分 类 号：F3[经济管理—产业经济]