基于超效率DEA的钢铁上市公司技术效率与绩效研究

Research on Technical Efficiency and Performance of Chinese Iron and Steel Listed Companies Based on Super-efficiency DEA

以中国2005～2010年间24家钢铁上市公司为样本,运用超效率DEA模型对钢铁上市公司的技术效率进行了测度和比较。运用面板数据固定效应模型估计了技术效率对企业绩效的影响,结果显示二者之间存在显著的正相关关系;此外,企业规模与企业绩效之间呈现U型关系,经营费用与企业绩效显著负相关,流通股比例与企业绩效显著正相关,控股股东持股比例对企业绩效影响不显著。

On the sample of 24 iron and steal listed companies from 2005 to 2010, this paper measures and compares technical etfi- eieney by using super- eflleieney DEA. Based on fixed - effect model of panel data, this paper makes an examination on the linkage between technical efficiency and firm performance, and the results show that a significant positive relationship exists between them. The results also suggest： the linkage between firm scale and performance presents a ＂U＂ curve, the correlation between operating expenses and performance is significant negative, the correlation between circulating shares ratio and performance is significant positive, and controlling shareholders＇ equity ratio has no significant effect on performance.