中药企业融资效率评价研究——基于40家上市公司的实证分析

Study on Financing Efficiency Evaluation of Traditional Chinese Medicine Enterprises——Empirical analysis based on 40 listed companies

本文采用DEA方法对2015—2019年间40家中药上市公司的融资效率进行了评价,研究表明:(1)样本中药企业的总体融资效率不高,且内部呈现出两极分化的态势;(2)规模报酬不变的企业总体融资效率相对较高,规模报酬递增和递减的企业融资效率普遍偏低。

From 2015 to 2019,the financing efficiency of 40 listed Chinese medicine companies was evaluated by DEA method.The results show that:(1)the overall financing efficiency of sample Chinese medicine companies is low,and there is a trend of polarization;(2)The overall financing efficiency of enterprises with constant returns to scale is relatively high,while the financing efficiency of enterprises with increasing and decreasing returns to scale is generally low.