资源整合背景下上市煤炭企业四维全要素生产率测算与分析

Calculation and analysis of 4Dtotal factors productivity of coal company in the background of resource integration

为验证资源整合与去产能对中国煤炭企业效率的影响,在构建四维全要素生产率指数的基础上,运用上市煤炭企业2008~2016年的数据进行测算,发现在安全、环保与可持续发展方面的M指数、规模效率、纯技术效率总体呈提高趋势,说明资源整合确实提升了上市煤炭企业的整体效率及规模效率。但运营效率有所下降,主要源于技术进步指数的降低。因此,进行资源整合与去产能时,必须发挥政府与市场的双重作用,除继续强化安全与环境规制的实施外,还要加大去产能与资源整合的制度创新力度,探索新的市场模式;不能仅依赖规模优势,而要通过企业技术创新实现效率提升。

In order to improve the efficiency and sustainability of coal industry,China has made great efforts in production reduction and resources consolidation.To verify the results,this article constructs four-dimensional indicators,namely operational efficiency,safety efficiency,environmental efficiency,and sustainability efficiency,to reflect the total factor productivity of coal industry.Using data from 2008 to 2016 of listed coal companies,4D total factor productivity is calculated and the results show that the consolidation reform has significantly improved the safety,environmental and sustainability performance of the coal industry.But operational efficiency has declined,mainly due to the decline in the technological progress index.In order to further enhance the quality of resource integration and the efficiency of coal industry,both the government and the market should play important roles in the process.Institutional innovation is important and the implementation of safety and environmental regulation should be strengthen,and enterprises should be encouraged to explore new market model in mergers and acquisitions;we should not rely solely on the scale advantage,but on the technological innovation in coal companies.