基于三阶段DEA模型的城投公司市场化转型效率评价

Evaluation of the Efficiency of Market Transformation of City Investment Companies Based on the Three-Stage DEA Model

以我国市场化转型中的城投公司为研究对象,从企业经营视角构建转型效率评价指标体系,并采用三阶段数据包络分析(DEA)模型对2015—2019年间的市场化转型效率进行测算。研究表明,我国城投公司普遍存在转型效率偏低、进程缓慢等不足,且表现出较大的时空差异。其中位于东部地区的城投公司转型效率要高于中、西部地区;外部环境因素对市场化转型效率存在显著影响,如果对其进行剥离,综合效率值和纯技术效率值均会有所提高,而规模效率值却会下降。最后,文章就如何提升城投公司的市场化转型效率提出了相关政策建议。

Taking China’s city investment companies in the process of market-oriented transformation as the research object,this paper constructs a transformation efficiency evaluation index system from the perspective of business operation,and use a three-stage data envelopment analysis(DEA)model to evaluate the efficiency of market-oriented transformation from 2015 to 2019.Research shows that China’s city investment companies generally face the problems of low transformation efficiency and slow process,and show great temporal and spatial differences.Among them,city investment companies in the eastern region have higher transformation efficiency than the central and western regions;external environmental factors have a significant impact on the efficiency of market-oriented transformation.If it is stripped off,both the overall efficiency value and the pure technical efficiency value will increase,while the scale efficiency value will decrease.Finally,the paper puts forward relevant policy recommendations on how to improve the efficiency of city investment companies’market transformation.