摘要
关于企业效率,目前学者们大多通过DEA模型来测评企业某一时点的技术效率,而对企业整体效率,以及效率可持续性的研究较为少见。本文基于竞争优先权理论,建立起产品成本、质量、服务、创新和交货速度等竞争优先权要素与现金流量指标之间的关联。以391家制造业上市公司为样本,利用现金流量指标,建立了多元线性回归的企业效率测评模型,并对模型进行了检验。研究发现:资产现金流量回报率指标具有较强的区分企业效率高低的能力,并且通过观察该指标连续4年的变化趋势能够预测企业效率的可持续性。
The majority of scholars use DEA model to measure and evaluate enterprise technical efficiency in a particular time point, however, there is few studies on enterprise integrated efficiency and sustainability of the efficiency. This dissertation researches enterprise efficiency based on competitive priority, and sets up a relevance between the elements of competitive priority which are the product cost, quality, service, innovation , speed of delivery and cash flow indexes. Then this dissertation sets up a multiple linear regression model of business efficiency evaluation by using data of 391 listed manufacturing companies, and tests the model. The research finds that the cash flow return ratio of asset has strong distinction ability of the level of enterprise efficiency, We can forecast sustainability of the enterprise efficiency, by observing the trend of this index in 4 years.
出处
《科学决策》
2010年第7期1-9,46,共10页
Scientific Decision Making
基金
国家自然科学基金资助项目"线性信息动态视野下剩余收益估值模型的实证研究"(批准号70802006)
教育部人文社会科学研究项目"新企业会计准则下盈余结构的价值相关性研究"(批准号08JA630009)的阶段性研究成果
关键词
企业效率
竞争优先权
现金流量指标
测评模型
enterprise efficiency
competitive priority
cash flow index
multiple linear regression model
