创新驱动视角下中西部高耗能企业融资效率复合评价和比较研究

Compound Evaluation and Comparative Study on Energy-intensive Enterprises' Financing Efficiency in Midwestern China Based on Innovation Driven

创新驱动转型升级背景下高耗能企业面临重新审视融资效率的问题。构建了"资金配置-技术创新"融资效率复合评价指标体系,以中西部支柱产业——73家上市高耗能企业为研究对象,应用CCR-DEA、Malmquist-DEA模型分别对2011-2015年企业融资效率进行评价和演变分析,从行业、地域分布进行了比较分析。结果显示,中西部高耗能企业融资效率整体呈较好水平,但呈现出波动、行业和区域有差异的现象,创新驱动因素对企业融资效率的影响和提升尚不稳定。

Under the background of innovation-driven transformation and upgrading,energy-intensive enterprises are faced with the problem of reexamining the financing efficiency.This paper constructed a compound evaluation index system of financing efficiency of capital allocation and innovation driven,and chose the 73 listed energy-intensive enterprises in the central and western pillar industries as the research object.Through the method of CCR-DEA,Malmquist-DEA model,the finance efficiency of enterprise were evaluated and analyzed in period of 2011-2015 from the two aspects of industry and regional distribution.The results show that the financing efficiency of energy-intensive enterprises in the Midwestern regions is generally at a good level,however,there are fluctuations in the industry and regional differences.The influence and promotion of innovation driving factors on enterprise financing efficiency is still not stable.