DEA分析在上公司绩效评价中的运用—以能源板块为例.pdfVIP

摘 要 对于多投入与多产出的企业来讲 数据包络分析 DEA 是一种相对较为全面的业绩 评价方法 本文采用江南证券公司网站的上市公司能源板块2003 年 12 月31 日的基本面 数据 应用数据包络分析 对上述公司的经营业绩进行了实证研究 通过技术效率分析和 规模效益分析 从两方面得出结论 首先 为达到理想的经营业绩 非DEA 有效的上市 公司应按照技术效率和松驰变量的取值改变投入或产出量 根据规模效益指示的方向改进 经营规模 其次 投资者应根据技术效率和各决策单元被参考次数理性地选择最优投资对 象 数据包络分析不仅可以应用于证券行业能源板块的绩效评估中 在其它板块的绩效评 估中也有较为广泛的应用 关键词 决策单元 松驰变量 技术效率 规模效益 被参考次数 II Abstract DEA is a comparatively comprehensive method of evaluating performance of companies with a multiple-input and multiple-output. This paper uses DEA model and makes empirical study on operation performance of the listed companies of resource stocks. All the data are obtained from the website of Jiangnan Security Company on 31st. Dec.2003. By the technique efficiency analysis and return to scale analysis of DEA, we arrive at the two conclusions: firstly, to get the ideal performance, managers of the inefficient evaluated listed companies should change their input and/or output according to the values of technique efficiency and the relevant slack variables, and they should also change company scales by the value of return to scale; secondly, the technique efficiency of each DMU and its referenced times can help investors choose the optimal stocks more rationally. DEA can be used not only in resource stocks in security industry, but also in performance of many other kinds of security industries. Keywords : Decision Making Units (DMU); slacks; technique efficiency; return to scale; reference time