基于DEA的国有企业IPO融资效率实证研究

Proceedings of 2013 IEEE International Conference on Service Operations and Logistics, and Informatics Pub Date : 2013-07-28 DOI:10.1109/SOLI.2013.6611385

G. Yan, Li Zehong

{"title":"基于DEA的国有企业IPO融资效率实证研究","authors":"G. Yan, Li Zehong","doi":"10.1109/SOLI.2013.6611385","DOIUrl":null,"url":null,"abstract":"The state-owned enterprises play a very important role in China. The financing behavior and efficiency of state-owned enterprises not only have a great influence on its own operation competition, but also relate closely to the development and stability of the whole national economy and social economic efficiency. 51 listed companies which have performed IPO(initial public offering) in 2010 have been chosen under certain principles as samples. Data envelopment analysis (DEA)-Malmquist is used in this paper to evaluate the IPO financing efficiency of state-owned enterprises in China. It is found that the type of ultimate controller of company has played an insignificant way in IPO financing efficiency. IPO financing efficiency did not bring an increase in the efficiency of state-owned enterprises. Finally, the present paper explored the possible reasons for this phenomenon and analyzed two countermeasures to improve the IPO financing efficiency.","PeriodicalId":147180,"journal":{"name":"Proceedings of 2013 IEEE International Conference on Service Operations and Logistics, and Informatics","volume":"130 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2013-07-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":"{\"title\":\"Empirical research on IPO financing efficiency of state-owned enterprises based on DEA\",\"authors\":\"G. Yan, Li Zehong\",\"doi\":\"10.1109/SOLI.2013.6611385\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"The state-owned enterprises play a very important role in China. The financing behavior and efficiency of state-owned enterprises not only have a great influence on its own operation competition, but also relate closely to the development and stability of the whole national economy and social economic efficiency. 51 listed companies which have performed IPO(initial public offering) in 2010 have been chosen under certain principles as samples. Data envelopment analysis (DEA)-Malmquist is used in this paper to evaluate the IPO financing efficiency of state-owned enterprises in China. It is found that the type of ultimate controller of company has played an insignificant way in IPO financing efficiency. IPO financing efficiency did not bring an increase in the efficiency of state-owned enterprises. Finally, the present paper explored the possible reasons for this phenomenon and analyzed two countermeasures to improve the IPO financing efficiency.\",\"PeriodicalId\":147180,\"journal\":{\"name\":\"Proceedings of 2013 IEEE International Conference on Service Operations and Logistics, and Informatics\",\"volume\":\"130 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2013-07-28\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"2\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Proceedings of 2013 IEEE International Conference on Service Operations and Logistics, and Informatics\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1109/SOLI.2013.6611385\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Proceedings of 2013 IEEE International Conference on Service Operations and Logistics, and Informatics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1109/SOLI.2013.6611385","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}

引用次数: 2

摘要

国有企业在中国扮演着非常重要的角色。国有企业的融资行为和效率不仅对其自身的经营竞争有很大影响，而且与整个国民经济的发展稳定和社会经济效率密切相关。本文根据一定的原则选取了2010年进行首次公开募股的51家上市公司作为样本。本文采用数据包络分析(DEA -Malmquist)对中国国有企业IPO融资效率进行了评价。研究发现，公司最终控制人类型对IPO融资效率的影响不显著。IPO融资效率并未带来国有企业效率的提升。最后，本文探讨了造成这一现象的可能原因，并分析了提高IPO融资效率的两种对策。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

Empirical research on IPO financing efficiency of state-owned enterprises based on DEA

The state-owned enterprises play a very important role in China. The financing behavior and efficiency of state-owned enterprises not only have a great influence on its own operation competition, but also relate closely to the development and stability of the whole national economy and social economic efficiency. 51 listed companies which have performed IPO(initial public offering) in 2010 have been chosen under certain principles as samples. Data envelopment analysis (DEA)-Malmquist is used in this paper to evaluate the IPO financing efficiency of state-owned enterprises in China. It is found that the type of ultimate controller of company has played an insignificant way in IPO financing efficiency. IPO financing efficiency did not bring an increase in the efficiency of state-owned enterprises. Finally, the present paper explored the possible reasons for this phenomenon and analyzed two countermeasures to improve the IPO financing efficiency.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

Proceedings of 2013 IEEE International Conference on Service Operations and Logistics, and Informatics

自引率

0.00%

发文量