两岸房地产上市公司运营效率比较研究--基于Metafrontier和动态SBM方法

A Comparative Study on the Operational Efficiency of Real Estate Listed Companies across the Taiwan Strait Based on Metafrontier and Dynamic SBM Methods

在两岸经济不断融合的大背景下,本文采用Metafrontier和动态SBM相结合的方法,将固定资产和股东权益作为对企业未来发展发挥重要作用的结转变量,对2007-2014年间海峡两岸房地产上市公司的运营效率进行了比较研究。结果表明:基于组别边界,台湾和大陆地区房地产公司的技术效率差异均较大,发展水平参差不齐;基于共同边界,大陆房地产公司不但整体技术效率较低,而且技术水准呈下降趋势,日益落后于台湾房地产公司。

In the context of economic integration across the Taiwan Strait, based on the methods of Meta- frontier and dynamic SBM, a comparative study on the operating efficiency of real estate listed companies is made between China Mainland and China Taiwan. In the DEA model, fixed assets and shareholders＇ equity are regarded as carry-over variables because of their roles for the future development of real estate listed companies. Results show that based on the group frontiers, the technical efficiencies of real estate companies both in China Taiwan and China Mainland are quite different and their development levels are uneven. Based on the Metafron- tier, not only is the overall technical efficiency of real estate companies in China Mainland lower, but the techni- cal level is also decreasing, lagging behind the real estate companies in China Taiwan.