摘要
尝试从区域产业可持续发展的视角,选取西部地区的环保类上市公司为研究对象,以2008~2012年有代表性的29家公司面板数据为样本,首先运用DEA模型中的C2 R模型和Malmquist生产率指数对其效率进行静态比较和动态变化分析;然后,运用Tobit模型构建估计回归方程,研究了效率的影响因素。研究结果表明:西部环保产业还没有达到最有效的生产前沿,但效率跨期整体呈上升趋势,说明具有良好的发展前景;各省、市、区的环保上市公司效率值存在明显差异,处于非生产前沿面的公司产出严重不足;效率指数的三个分解要素作用不同,技术进步对提高公司效率有显著贡献,而纯技术效率和规模效率的贡献为负;资本结构和成长性是西部环保上市公司现阶段效率改善的主要内在原因,而盈利性和股权性质影响不显著。
In the view of sustainable development,this paper focused on the listed companies of environmental protection industry in western China.Firstly,the paper selected the panel data of 29 listed companies from 2008 to 2012as samples,and set the index system including total assets,main business cost,shareholder's equity as input indicators,and main business revenue,earnings per share,return on equity as output indicators.Then the paper evaluates the efficiency of listed companies and analyzes the changes based on the C2 R model and Malmquist productivity index of non-parametric data envelopment analysis(DEA).In addition,the paper also studied the influence factors on the efficiency of listed companies by adopting Tobit model to establish the regression equation.The research indicates that the environmental protection industry of the west still does not reach the most effective production frontier,but the whole efficiency of listed companies increases cross different evaluation periods,which means the environmental protection industry of the west has the good prospects for development.The listed companies have striking different efficiencies among different provinces and there is a serious shortage of output in non production frontier companies.Three decomposition factors of efficiency index have different functions.The contribution of technological advance is remarkable,while the contribution of pure technical efficiency and scale efficiency is negative.Capital structure and growth are the main reasons to improve the efficiency of listed companies at primary developing stage.However,the effect of the profitability and equity nature is not significant at present.
出处
《系统工程》
CSSCI
CSCD
北大核心
2015年第4期106-111,共6页
Systems Engineering
基金
国家社会科学基金资助项目(10CJL046)
2013年甘肃省高等学校科研项目(2013A-034)
兰州理工大学红柳青年教师培养计划项目(Q201204)
2014年兰州市社科规划项目(14-020E)
关键词
区域
环保产业
上市公司
效率
影响因素
A Specific Region
Environmental Protection Industry
Listed Companies
Efficiency
Influence Factors
