公司治理对国有和非国有企业效率的影响研究——基于2012～2015年我国制造业上市公司数据

发布时间：2018-09-07 18:59

【摘要】：公司治理特征与公司绩效之间的关系一直是理论研究和实证分析的焦点。DEA方法在公司治理与企业绩效之间的关系分析中的应用已受到越来越多的关注。本文选取2012~2015年我国制造业上市公司数据,运用主成分分析和混合DEA模型来剖析公司治理和公司效率之间的关系。输入变量是固定资产的净值、员工数量和公司治理,而输出变量是总收入和税前利润。对于国有和非国有制造业上市企业,公司治理是一个重要的影响公司效率的因素。研究结果表明:国有和非国有制造企业可以通过有效地使用员工、固定资产和改进公司治理来提高效率;而低效的公司治理是国有与非国有上市制造业企业效率低下的主要原因;同时,由于过度的公司治理,国有企业的低效率远高于非国有企业,这表明非国有企业的公司治理效率高于国有企业。
[Abstract]:The relationship between corporate governance characteristics and corporate performance has been the focus of theoretical research and empirical analysis. DEA method in the relationship between corporate governance and corporate performance analysis has attracted more and more attention. This paper analyzes the relationship between corporate governance and corporate efficiency by using principal component analysis and mixed DEA model based on the data of listed manufacturing companies in China from 2012 to 2015. The input variable is the net value of fixed assets, the number of employees and corporate governance, while the output variable is gross income and pre-tax profits. For state-owned and non-state-owned manufacturing listed enterprises, corporate governance is an important factor affecting corporate efficiency. The results show that state-owned and non-state-owned manufacturing enterprises can improve their efficiency through the effective use of employees, fixed assets and improved corporate governance; However, inefficient corporate governance is the main reason for the inefficiency of state-owned and non-state-owned listed manufacturing enterprises. At the same time, due to excessive corporate governance, the inefficiency of state-owned enterprises is much higher than that of non-state-owned enterprises. This indicates that the corporate governance efficiency of non-state-owned enterprises is higher than that of state-owned enterprises.
【作者单位】：东华大学旭日工商管理学院;上海交通大学媒体与设计学院;南伊利诺伊大学商学院;上海财经大学国际工商管理学院;首都经济贸易大学经济学院;
【基金】：中央高校基本科研业务费专项资金资助项目(项目编号:CUSF-DH-D-2015065) 国家留学基金委资助项目(项目编号:201506630047)
【分类号】：F271;F425

【相似文献】