摘要
运用BCC模型和超效率DEA模型,以我国37家电力行业上市公司2007年-2009年的数据为样本,测算其技术效率,并构建面板模型,分析股权结构与技术效率之间的关系。结果表明,我国电力行业上市公司的股权集中度普遍较高;技术效率平均在0.9以上;第一大股东持股比例和前五大股东的持股比例之和与技术效率呈显著负相关关系;前五大股东的HHI5指数与技术效率呈显著正相关关系;Z指数与技术效率呈不显著的负相关关系。
This paper uses BBC model and super-DEA model to estimate technical efficiency of 37 Chinese listed companies in electric power industry from yeary 2007 to 2009. Panel model is also established to analyze the relationship between ownership structure and technical efficiency. The result shows ： （ 1 ） their ownership structure is concentrated, （2） their average technical efficiency is above 0.9, （ 3 ） the stake sum of the largest shareholder and the top five shareholders has significantly negative effects on the technical efficiency, （4） HHI index of the top five shareholders has significantly positive effects on the technical efficiency, （5） Z index has no significantly negative effects on the technical efficiency.
出处
《上海立信会计学院学报》
北大核心
2011年第4期78-86,共9页
Journal of Shanghai Lixin University of Commerce
关键词
电力上市公司
股权结构
技术效率
数据包络分析(DEA)模型
公司治理
产业经济
listed companies in electric power industry
ownership structure
technical efficiency
Date Envelopment Analysis （DEA） Model
cooperate governance
industrial economy
