农业上市公司股权结构对技术效率的作用机理

Effect Mechanism of Ownership Structure on Technical Efficiency of Agricultural Listed Company

以我国28家农业上市公司为研究样本,运用数据包络分析方法测度技术效率,选取Tobit模型分析上市公司的股权结构对其技术效率的作用机理。研究结果表明:2008—2010年期间我国农业上市公司的技术效率年均值为0.83,仅14%的样本达到技术有效;国有股比例对公司的技术效率有负面影响,法人股比例与技术效率存在U型关系,股权集中度与技术效率存在倒U型关系,管理层持股对技术效率有正面影响。

This paper selects 28 agricultural listed companies as the research sample,and uses the method of data envelopment analysis to measure the technical efficieneies of 28 agricultural listed companies. Then it chooses Tobit model to analyze the effect of ownership structure on technical efficiency. The result indicates as follows：average technical efficiency of agricultural listed companies is 0. 83,and only 14% are technological effeetive;the proportion of state-owned shareholding has negative effects on technical efficiency, and the proportion of law person shareholding has U-shaped effect,ownership concentration has inverted U-shaped effect,and the proportion of managerial shareh01ding has positive effect.