我国煤炭行业上市公司技术效率及其影响因素——基于Tobit-DEA模型

首先运用Tobit-DEA模型,计算并分析了2010年我国22家煤炭行业上市公司的技术效率、纯技术效率和规模效率。结果显示:我国煤炭行业上市公司的技术效率水平较低、规模效率水平较高、纯技术效率水平较低。然后运用Tobit回归模型,分析了除劳动、资本外影响我国煤炭行业上市公司技术效率的其他因素以及产生该影响的可能原因。回归结果显示:在通过回归分析所筛选出的5个解释能力最强的财务指标中,管理费用率和债务资本比率对技术效率具有负向影响;销售费用率、资产周转率和市盈率对技术效率具有正向影响。最后提出提升我国煤炭行业上市公司的技术效率的建议。

Technical Efficiencies of Listed Companies in Coal Industry and Its Influence Factors：Based on Tobit-DEA Model

Firstly,this paper calculates and analyzes the technical efficiencies,pure technical efficiencies and scale efficiencies of 22 listed companies in coal industry of China by the Tobit-DEA model.The results show that,on the whole,the levels of technical efficiency and pure technical efficiency of these listed companies are lower,and the level of scale efficiency is higher.Then it analyzes the factors of influencing the technical efficiency of listed companies in coal industry of China expect labor and capital and the reason causing these influences by the Tobit regression model.The result shows as follows:management fee and debt capital ratio have negative effects on technical efficiency;sales rate,asset turnover and p/e ratio influence positively technical efficiency.Finally,it gives some suggestions for improving technical efficiency of listed companies in coal industry of China.