Evaluation of Cash Utilization Efficiency of Listed Companies in Biomedical Industry Based on DEA Model

2019 5th International Conference on Information Management (ICIM) Pub Date : 2019-03-01 DOI:10.1109/INFOMAN.2019.8714692

Yunhui Qu, Jingyuan Ma, Xu Yan

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引用次数: 1

Abstract

As the most liquid asset, cash plays an important role in the production, operation, investment and profit of enterprises. Most of the existing studies focus on the reasonable holding level of cash, the factors affecting cash flow and the enterprise value evaluation based on cash flow, while few studies directly consider the efficiency of cash use. Based on the related theory of cash utilization efficiency at domestic and abroad, this paper takes 24 listed companies in biomedical industry in Shanghai and Shenzhen Stock Exchanges from 2015 to 2017 as the research object, and carries out data envelopment analysis (DEA). Through the analysis of input data and output data, the comprehensive efficiency, pure technical efficiency and scale efficiency of sample companies are calculated, and the cash utilization efficiency of sample companies is quantitatively evaluated. The results show that DEA model can well evaluate the cash use efficiency of enterprises, thus how to improve the cash utilization efficiency is particularly important for listed companies in the biomedical industry.

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基于DEA模型的生物医药行业上市公司现金利用效率评价

现金作为最具流动性的资产，在企业的生产、经营、投资和盈利中发挥着重要作用。现有的研究大多集中在现金的合理持有水平、现金流量的影响因素以及基于现金流量的企业价值评价等方面，而直接考虑现金使用效率的研究很少。本文基于国内外现金利用效率的相关理论，以2015 - 2017年沪深两市24家生物医药行业上市公司为研究对象，进行数据包络分析(DEA)。通过对投入数据和产出数据的分析，计算样本企业的综合效率、纯技术效率和规模效率，定量评价样本企业的现金利用效率。结果表明，DEA模型可以很好地评价企业的现金使用效率，因此如何提高现金使用效率对于生物医药行业的上市公司尤为重要。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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2019 5th International Conference on Information Management (ICIM)

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