李佳.长三角中小板上市公司融资效率分析[J].南京邮电大学学报(社会科学版),2015,(01):57~64 |
长三角中小板上市公司融资效率分析 |
On the financing efficiency of the listed companies on the SME Board in Yangtze River Delta |
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中文关键词: 长三角 中小企业 技术效率 融资效率 |
英文关键词:Yangtze River Delta SMEs technical efficiency the financing efficiency |
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中文摘要: |
选择我国长三角地区112家中小上市公司2010—2012年的经营数据,利用 DEA方法从总体状况、内部经营管理和规模报酬等方面对其效率进行动态评价。结果表明:样本上市公司每年仅有10%左右的公司技术效率处于有效状态,实现纯技术效率为1的公司要略多于规模有效的公司,近1/3的公司纯技术效率和规模效率都大于均值,上海公司技术效率的表现要强于江苏和浙江,但区域因素对融资效率并不存在决定性的影响。进一步分析了样本上市公司融资无效率或者低效率的主要原因,最后提出改善样本公司效率水平的政策建议。 |
英文摘要: |
By using the method of Data Development Analysis (DEA), this paper evaluated the financing efficiency of 112 listed companies on the SME Board in Yangtze River Delta during the period of 2010—2012, in terms of the overall situation, internal management and returns to scale. The results showed that only about 10% companies could use capitals effectively, and the number of company which could achieve the pure technical efficiency was more than that of the scale efficiency. About 1/3 of the companies could achieve both the pure technical efficiency and the scale efficiency, which were greater than the mean. The technical efficiency of Shanghai companies was better than that of companies in Jiangsu and Zhejiang, but regional factors did not have an effect on the financing efficiency. Based on the major reasons of inefficiency and low efficiency of the companies, proposals were given to increase the efficiency. |
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