Research on Financing Efficiencies of Strategic Emerging Listed Companies by Six‐Stage DEA Model

Abstract

Accounting for the information of input slack variables, as well as the effects of external environment and stochastic factors, a six-stage DEA model was proposed based on four-stage DEA model. It was employed to assess the financing efficiencies of 689 strategic emerging listed companies in 2015. By isolating the environmental and stochastic factors, the final efficiencies can reflect the actual financing level of these companies. The empirical results show that most financing efficiencies are still at a low level relatively. The scales of these strategic emerging companies are the main constraint on their development. And the special technical level also has an impact on these efficiencies. In addition, the efficiency difference among provinces in China gives another support to environmental influence on the strategic emerging industry. Therefore, a strategic emerging company should pay attention to expanding its scale of production and heighten its special technical level and it should improve its financing efficiencies with the help of local government power.

Research on capital allocation efficiencies with four-dimensional factor capitals from China’s intelligent manufacturing enterprises

“…Take enterprise performance as the dependent variable. From previous relevant literature [ 48 , 49 ], enterprise performance is measured by operating income to reflect the business scale and operation status of intelligent manufacturing enterprises in this paper.…”

Strategic emerging industry layout based on analytic hierarchy process and fuzzy comprehensive evaluation: A case study of Sichuan province

“…This paper mainly studies the layout of strategic emerging industries, and it is a decision-making problem to choose which industries to pay attention to. Research on strategic emerging industries also includes financing efficiency, such as [15][16][17], technological innovation efficiency research, such as [18][19][20][21].…”

Operational and Environmental Efficiencies of Japanese Electric Power Companies from 2003 to 2015: Influence of Market Reform and Fukushima Nuclear Power Accident

“…This study employs an output-oriented model for the measurement of efficiency, although the output-oriented radial model is relatively uncommon compared to the inputoriented radial model. The latter is one of the most popular methods in DEA and is used in Ji and Wang [9], Chen et al [10], Wang et al [11], Sueyoshi and Wang [12], Wang and Geng [13], and many other articles in recent publications. The basic premise of the input-oriented radial model is that inputs are proportionally contracted given a certain level of outputs, and thus, this model naturally fits with efficiency concepts for firms or other DMUs that make efforts to improve operational efficiency and strengthen cost competitiveness.…”