文化旅游类上市公司经营效率与盈利能力关系研究

The Research on the Relationship between Operational Efficiency and Earning Power of the Listed Cultural Tourism Companies

基于我国87家文化旅游类上市公司2011-2016年的面板数据,分析了经营效率对企业盈利能力的影响。首先利用主成分分析法构造了综合反映企业盈利能力的指标,其次对文化旅游类上市公司的经营效率采用数据包络分析法DEA进行了测量。运用STATA14.0统计软件,分别以体现经营效率的指标超效率、经营效率的两个组成部分纯技术效率与规模效率作为解释变量,盈利能力综合指标作为被解释变量。结果显示,企业的经营效率对其盈利能力具有显著的正向影响,体现经营效率的两个方面纯技术效率和规模效率均对企业盈利能力产生了正向影响。企业应加强自身管理,实现全员参与、全员管理、全员创新,有效促进文化旅游产业与科技的深度融合,在适度的规模状态下提升企业的经营效率,进而提升盈利能力。

This paper analyzes the influence of operating efficiency on earning power of enterprises based on the panel data of 87 listed Chinese cultural tourism companies in 2011-2016.Firstly,the principal component analysis method was used to construct the comprehensive index to evaluate the earning power of the enterprise.Secondly,DEA was used to measure the operating efficiency of enterprises.This paper,using the indicator of super efficiencywhich refl ects operational efficiency,and pure technical efficiencyand scale efficiency which are the two components of operational efficiency as explanatory variables,earning power as explained variable,did empirical analysis by STATA14.0.The results showed that operating efficiency is positively correlated with earning power.The two components of pure technical efficiency and scale efficiency are significant positively correlated with the earning power of enterprise.Enterprises should strengthen their own management,to achieve full participation,full management,full innovation,effectively promote the integration of cultural tourism industry and science and technology,to enhance the operating efficiency of enterprises in a moderate scale,thereby enhancing the earning power of enterprises.