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上市公司资金使用效率研究——基于东北地区上市公司的财务数据

Research on the Efficiency of Capital Use of Listed Companies Based on the Financial Data of Listed Companies in Northeast China
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摘要 东北三省资金使用效率研究对于评价振兴东北老工业基地战略具有重要意义.选取东北三省46家上市公司作为研究对象,运用数据包络模型(DEA)中的BCC模式对6个行业的货币资金总体使用效率、纯技术效率和规模效率分别进行分析,并进一步对无效率企业进行投影分析.研究结果显示,制造业资金使用效率较低,其中有较多企业存在投入冗余和产出不足;电力、热力、燃气及水生产和供应业以及信息技术行业资金使用效率较高;批发零售业、交通运输业和房地产业资金使用效率有很大提升空间.最后根据分析结果,提出了改善资金管理方式、加强技术创新、资金投入规模应与企业规模相当等对策建议. The study on the use efficiency of funds in the three provinces of Northeast China is of great significance for evaluating the strategy of rejuvenating the old industrial base in the Northeast.Selecting 46 listed companies from three provinces in Northeast China as the research object,and uses the BCC model in data envelopment model(DEA)to analyze the overall use efficiency,pure technical efficiency,and scale efficiency of the six industries,and further make projection analysis on the inefficient companies.The results of the study show that:the use efficiency of manufacturing capital is relatively low,and many of them have redundant inputs and outputs;the power,heat,gas,and water production and supply industries,and information technology industries use funds more efficiently;There is much room for improvement in the efficiency of the use of funds in the wholesale and retail trades,the transportation industry and the real estate industry.At last,putting forward some countermeasures such as improving capital management methods,strengthening technological innovations,and the scale of capital investment should be equal to the scale of enterprises.
作者 陈燕丽 王磊 姜明栋 沈晓梅 CHEN Yanli;WANG Lei;JIANG Mingdong;SHEN Xiaomei(School of Business Administration of Hohai University,Changzhou 213022,Jiangsu China;Yancheng Institute of Technology,Yancheng 224051,Jiangsu China;Study and Research Group of The Thought of Socialism with Chinese Characteristics in the New era of Hohai University,Changzhou 213022,Jiangsu China)
出处 《河南科学》 2018年第7期1143-1148,共6页 Henan Science
基金 国家社会科学基金项目(16CZX001) 中国科学院创新训练计划(201706100031) 江苏高校品牌专业建设工程资助项目(PPZY2015A025)
关键词 货币资金 数据包络模型 纯技术效率 规模效率 monetary funds data envelopment analysis pure eechnical efficiency scale efficiency
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