基于DEA的上市公司股权融资效率评价  

Efficiency Evaluation on Equity Finance of Listed Companies on Basis of DEA

作　　者：刘力昌[1] 冯根福[1] 张道宏[2] 毛红霞[2] 

机构地区：[1]西安交通大学经济与金融学院,陕西西安710061 [2]西安理工大学工商管理学院,陕西西安710048

出　　处：《系统工程》2004年第1期55-59,共5页Systems Engineering

摘　　要：运用数据包络分析方法,以沪市1998年初次发行股票的47家上市公司为研究对象,对中国股权融资效率进行综合评价,研究结果为:68.09%的上市公司股权融资效率不能达到技术与规模同时有效,59.57%的上市公司股权融资效率既不能达到规模有效,又不能达到技术有效,我国上市公司股权融资效率总体呈低效状态。47家上市公司中,信息技术行业配置效率较高,而公用事业和健康护理行业配置效率低。文章还提出了上市公司提高股权融资的效率的途径。By using the method of data envelopment analysis(DEA), this paper evaluates the efficiency of equity finance of 47 listed companies which are initially public offered in 1998 in Shanghai stock exchange market. And the result is that efficiency of equity finance about 68.09% listed companies can't reach both technique and scale efficiency, that about 59.57% can't do either technique and scale efficiency, so efficiency of equity finance of listed companies in China is low in all. In 47 companies, efficiency of information industry companies is fairly high and that of public utility and health care industry is relative low. Furthermore, ways to increase efficiency of equity finance are put forward.

关 键 词：DEA 上市公司 融资效率 中国 股票市场 数据包络分析 

分 类 号：F832.51[经济管理—金融学]