中国酿酒业上市公司的效率特征及其影响因素分析－基于DEA-Tobit两阶段模型

TL;DRAbstract

Based on DEA-Tobit approach, the paper analyzes the productive efficiency and its influencing factors of the 22 listed wine-making firms in China from 2004 to 2007. Furthermore, based on the nonparametric DEA-Malmquist Productivity Index, the paper also evaluates the efficiency change of the wine-making firms. The findings demonstrate that during the period the technical efficiency of the wine-making firms is on the low level, but it also shows a rising trend in general, except that in 2007 the efficiency to a great extent declines. Second, both the average total factor productivity (TFP) and the TFP in every year during the period show a rising trend to some different extent, and both of them are greatly due to the technical progress of the wine-making industry. Finally, the total asset turnover ratio, the proportion of technical personnel and the per capital are significantly and positively correlated to the productive efficiency of the wine-making firms, but the firm scale is not si

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