摘要
本文运用DEA-Malmquist方法,对2013~2017年我国上市交通运输企业融资效率进行测度与分析,结果表明:我国上市交通运输企业整体融资效率偏低,样本内达到融资效率最佳的企业数占比不到1/4;在规模报酬方面,60%以上样本企业处于规模报酬递增阶段;交通运输行业中铁路运输业企业融资效率表现最佳。从动态来看,我国上市交通运输企业2013~2017年平均融资效率表现为退步,但融资效率变化趋势为上升。最后基于我国上市交通运输企业融资效率现状,从创新融资方式、调整企业发展规模、引入多元投资主体三个方面提出相关建议,为提高交通运输企业融资效率提供参考。
Based on DEA-Malmquist method, this paper measures and analyzes the financial efficiency of Chinese public traffic transportation enterprises from 2013 to 2017. The results show that the overall financial efficiency of Chinese public traffic transportation enterprises is on the low side. And the number of enterprises with the best financial efficiency in the sample accounts for less than 1/4. In terms of scale remuneration, more than 60% of the sample enterprises are in the stage of increasing returns to scale. In the transportation industry, the railway transportation enterprises have the best financing efficiency. From a dynamic point of view, the average financial efficiency of Chinese public traffic transportation enterprises in 2013-2017 is declining, but the trend of financial efficiency is rising. Finally, based on the current situation of financial efficiency of public transportation enterprises in China, the paper puts forward relevant suggestions from three aspects: innovating financing methods, adjusting development scale of enterprises and absorbing several shareholders, which provide references for improving the financial efficiency of transportation enterprises.
作者
韦淑楠
WEI Shunan(School of Economics and Management,Civil Aviation University of China,Tianjin 300300,China)
出处
《综合运输》
2020年第2期11-15,21,共6页
China Transportation Review
