基于DEA模型的上市公司投资效率研究——以陕西省为例  

Research on Investment Efficiency of Listed Companies Based on DEA Model——A Case Study of Shaanxi Province

作　　者：马红光[1] 杨颖 MA Hong-guang;YANG Ying(Party School of Shaanxi Provincial Committee of CPC(Shaanxi Academy of Governance),Management Department,Xi’an 710061,China;Management Department,Graduate School,Management Department,Xi’an 710061,China)

机构地区：[1]中共陕西省委党校(陕西行政学院)管理学部,西安710061 [2]中共陕西省委党校(陕西行政学院)研究生院,西安710061

出　　处：《陕西行政学院学报》2023年第4期112-117,共6页Journal of Shaanxi Academy of Governance

摘　　要：以陕西省上市公司中的37家为样本,运用DEA-Malmquist模型和DEA-BCC模型测算样本企业投资效率及其分解情况,进而对陕西省不同行业、不同产权性质、不同地区的企业投资效率进行分析。结果表明:从时间趋势看,陕西省上市公司的投资效率逐年上升,且主要是由技术进步引起的;从行业角度看,石油化工行业各年的投资效率相对较高;从产权性质角度看,国有企业投资效率更高,且主要是因为其具有更高的规模效率;从城市角度看,位于西安的上市公司投资效率值相对更高。同时,技术进步和投资规模调整是陕西省提高企业投资效率、促进经济增长的重要抓手。Taking 37 listed companies in Shaanxi Province as the sample,the DEA-Malmquist model and DEA-BCC model are used to measure the investment efficiency and decomposition of the sample enterprises,and it is essential to analyze the investment efficiency of enterprises in different industries,different property rights and different regions.The results show that the investment efficiency of listed companies in Shaanxi Province is increasing year by year,which is mainly caused by technological progress.From the perspective of the industry,the investment efficiency of the petrochemical industry is relatively high;from the perspective of the property rights,state-owned enterprises are more efficient in investment,mainly because of their higher efficiency of scale;in view of the city,the investment efficiency of listed companies located in Xi’an is relatively higher.This paper finds that technological progress and investment scale adjustment are important ways to improve enterprise investment efficiency and promote economic growth in Shaanxi Province.

关 键 词：上市公司 投资效率 陕西省 DEA数据包络分析 

分 类 号：F426.92[经济管理—产业经济]