Operational Efficiency Analysis of Listed Biomedical Companies in China: Three-Stage DEA and Malmquist Index

Abstract

This study selects 74 Chinese listed biomedical companies as samples and utilizes a three-stage DEA and Malmquist index to calculate the input-output panel data of sample companies from 2018 to 2022 over a period of five years, conducting analysis from both static and dynamic perspectives. From the static analysis perspective, the overall efficiency of Chinese listed biomedical companies during the calculation period is relatively low, with pure technical efficiency being the main limiting factor, and there is significant variation in the overall operational levels of these companies. From the dynamic analysis perspective, 56.76% of companies have a total factor productivity exceeding 1, with technological progress being the main contributing factor, while scale efficiency index needs improvement. It is suggested that listed biomedical companies strengthen their emphasis on technology and enhance scale efficiency.