国有和民营企业技术效率及影响因素比较研究

The Comparative Research of Technical Efficiency and Impact between State-owned and Private Enterprise

从微观角度收集了2002-2009年6718家上市公司的数据,首先采用DEA方法进行分析,发现进行国有资产管理体制改革后,中央、地方国有企业和民营企业在技术效率、规模效率上不存在差异,但在纯技术效率上存在差异,且中央>民营>地方;然后以技术效率为因变量,以公司内部治理的激励和约束机制各因素为自变量,建立Tobit回归模型进行分析,发现影响这3种类型企业效率的因素均有高管和普通职工收入差距、高管货币薪酬、高管在职消费、第一大股东持股比例和规模,而独立董事比例和职工监事比例对它们的效率均无影响。

On micro perspective, 6718 listed company data were collected from 2002 to 2009, first, the DEA method was used to analyze and find that there were no differences in the technical efficiency and scale efficiency among them since the state property management system reform, but the purely technical efficiency was different, and Central〉Private〉Local. Second, the technical efficiency was used as independent, the various factors of incentive and restrain mechanism in corporate internal governance was used as dependent, tobit regression model was established to analyze and find that the executive and ordinary staff income gap, the executive currency salary, the executive office consumer, the share of the biggest shareholder and scale were the factors affected the three types of enterprise efficiency, independent directors proportion and the worker supervisors proportion were not the factors.