基于随机前沿分析(SFA)的港口上市公司的效率评价

An Analysis of the Port Operating Companies in the Stock Martet Based on SFA Method

针对港口企业实现成本最小化或产出最大化有效程度的度量,采用随机前沿分析(SFA)法对2001～2009年在沪深2市9家港口上市公司的运营效率进行了测度.结果表明从2001～2009年,9家港口运营企业的效率呈现出下降趋势,盐田国际为效率高的公司(0.735/0.788),相反,锦州港口的效率最低(0.164/0.336).大多数的港口规模不断地扩张,这意味着投入因素的逐渐增加.反之,因投入而增加的产出量有时间差,从而呈现出反复无常的效率增减趋势.港口运营企业推进外形扩张的同时,为了提高竞争实力,采取各种措施以提高效率.

To solve the problem of port companies cost minimize or profit maximize degree and quality, stochastic frontier approach （SFA） method was adopted to measure the operation efficiency of 9 port operation companies which are listed in Shanghai and Shenzhen stock exchange market from 2001 to 2009. The results showed that 9 port operation companies efficiency tended to decrease from 2001 to 2009, and the highest and the lowest efficiency company are Yantian International （0. 735/0. 788） and Jinzhou port （0. 164/0. 336）, respectively. Most of the ports continuously expanded the scale of port, and this means that the input factors were gradually increased. In addition, there is a lag between ex- panding inputs and increasing throughputs. In order to improve the competitiveness, port operation companies should effort to improve their port operation efficiency in various ways, while promoting to expand the scale of port at the same time.