Evaluation of Operating Efficiency of Agricultural Listed Enterprises Based on DEA-Tobit Two Stage Model

Abstract

This paper used DEA model to evaluate the operating efficiency of sample enterprises, and analyzed the influencing factors of business efficiency through Tobit regression. The results of DEA evaluation show that the operating efficiency of the listed agricultural enterprises is low and the difference between enterprises is obvious. The Northeast comprehensive efficiency, pure technical efficiency and scale efficiency is highest; Forestry, animal husbandry, farming, fishery and agricultural service industry’s comprehensive efficiency, pure technical efficiency decrease in turn; In addition to the low scale efficiency of fisheries, the rest of the industry scale efficiency is almost the same. Tobit regression analysis shows that the age, scale of enterprises and the nature of controlling shareholders are negatively related to business efficiency, and total assets return rate and ownership concentration are positively related to business efficiency. Introduction Meng Lingjie et al. (2005) found that the average efficiency of the sample companies is low, and is influenced by factors such as the company's operation time and business direction[1].Wang Qian and Qin Fu (2009) use the DEA model to evaluate the efficiency of the 42 listed agricultural enterprises in China in 2007 and carry out the projection analysis[2].Du Chuanzhong et al. (2009) used Malmquist efficiency index to evaluate the dynamic change of enterprise's efficiency level[3].Yuan Bin et al. (2015)evaluated the input-output efficiency of 109 agricultural industrialization leading enterprises in Nanjing in 2012.It was found that the productivity of the agricultural leading enterprises was "U" distribution with the upgrading of the grade, and the influence factors of the efficiency difference were analyzed by the Quantile regression[4].Wang Liming and Wang Yubin (2015) concluded that the efficiency of food leading enterprises is generally low, but it shows an upward trend and the difference of the comprehensive efficiency of enterprises in different regions is obvious[5]. The above research results have played an useful reference for the correct evaluation of the efficiency level of Chinese listed agricultural enterprises and the efficiency promotion of the listed agricultural enterprises. However, most of these studies lack systematic and in-depth analysis.Based on the comprehensive evaluation of the operational efficiency of agricultural listed companies by using the DEA model, this paper makes a thorough and comprehensive analysis of the comprehensive efficiency, scale efficiency and technical efficiency of enterprises from the perspective of enterprise size, industry category and regional distribution. Data Sources and Research Methods Data Sources In this paper, 62 companies with agriculture, forestry, animal husbandry and fishery as the main business activities and engaged in the processing of agricultural and sideline products in the Shanghai and Shenzhen A stock market in 2016 are the research samples. After removing samples from ST enterprises and data that did not meet the requirements of analysis, the final valid samples are 52. Shown in Table 1 and Table 2. International Conference on Modeling, Analysis, Simulation Technologies and Applications (MASTA 2019) Copyright © 2019, the Authors. Published by Atlantis Press. This is an open access article under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/). Advances in Intelligent Systems Research, volume 168