竞争性行业中企业盈利性与技术效率相关性的实证研究

The empirical study between firm's profitability and technical efficiency in competitive industry

本文以2000-2006年间纺织服装纤维制品这一竞争性行业内上市公司为样本,对企业技术效率与盈利性的相关性进行了两阶段式实证分析。首先,运用SFA和DEA两种模型分别测算和比较了中日两国纺织服装纤维制品上市公司的技术效率状态。其次,就中日企业两个样本分别运用面板数据模型检验了企业技术效率、企业规模、资本结构与股权结构等因素对企业盈利性的影响。结果表明,无论基于何种评价模型,企业技术效率与盈利性之间均有显著、稳定和重要的正相关性。

On the sample of dozens of listed companies in highly competitive Chinese and Japanese textile, garment and fibre product industry from 2000 to 2006, the target of this paper is to make an exploratory study on the nexus between technical efficiency and profitability. Basing on SFA and DEA approaches, the authors begin with measuring technical efficiency and make a comparison between China and Japan. Furthermore, with controlling firm size, financial leverage, ownership structure and others, the authors make an examination on the linkage between firm efficiency and profitability by panel data random - effect model, and our estimations show that a positive, significant and stable linkage exists between them.