我国有色金属产业并购效率研究——基于三阶段DEA模型的实证检验

发布时间：2017-12-27 03:35

本文关键词：我国有色金属产业并购效率研究——基于三阶段DEA模型的实证检验　出处：《江西社会科学》2016年06期 　论文类型：期刊论文

【摘要】：运用三阶段DEA模型对我国66家有色金属产业上市公司2009—2014年的并购效率进行实证研究,并对影响其并购效率的因素进行回归分析。研究结果表明:三阶段DEA模型对有色金属产业的并购效率进行测度比传统DEA方法更为准确合理;并购后的有色金属产业存在综合技术效率偏低的现象,纯技术效率水平低是影响其总体效率水平的关键因素;回归分析中,资本投入松弛变量回归结果统计性最显著,劳动投入松弛变量的回归结果统计性最差,自变量公司规模的解释性最强,区域经济的发展程度解释性最差。为此,有色金属产业应重点关注技术进步和自主创新,提升并购后的整合效率,优化企业发展的内外部环境。
[Abstract]:The three stage DEA model is applied to analyze the M & A efficiency of 2009 non-ferrous metals listed companies in China from 2009 to 2014, and regression analysis is conducted on the factors that influence the efficiency of M & A. The results show that: the efficiency of M & a three stage DEA model of nonferrous metal industry to measure than the traditional DEA method is more accurate and reasonable; the presence of low technical efficiency phenomenon of non-ferrous metal industry after the merger, the low level of pure technical efficiency is a key factor affecting the overall level of efficiency; regression analysis, capital input slack regression the results of the statistical significant regression results, labor input slack statistics is the worst, most explanatory variables of the size of the company, the degree of development of regional economy to explain the worst. Therefore, the non-ferrous metal industry should focus on the technological progress and independent innovation, improve the integration efficiency after the merger and acquisition, and optimize the internal and external environment of the enterprise development.
【作者单位】：江西理工大学经济管理学院;江西理工大学;
【基金】：江西省哲学社会科学规划项目“用好苏区振兴税收优惠政策,促进赣州产业快速发展研究”(15SKJD23)
【分类号】：F426.32;F224
【正文快照】： 一、引言有色金属是发展国家经济、科学技术和国防建设的重要物质基础,是提升国家综合实力和保障国家安全的关键性战略资源。中国是全球最大的有色金属生产和消费国,但多年来有色金属产业面临快速发展积累的资源、能源、环境等制约压力,由产能过剩造成的供应过剩,加上产业转

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