DEA模型的改进及其在上市公司效率评价中的应用
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摘要
随着我国加入WTO,市场竞争环境日趋激烈,我国企业面临着前所未有的机遇与挑战,若要保持和提升竞争力,提高效率是一种有效的途径。效率评价是效率研究工作中的重要内容,也是效率得以提高的一个基本保障。对效率进行科学、客观的评价能够使上市公司及时发现自身的优势和不足,并通过改善经营管理策略提高市场竞争力,因此效率评价成为上市公司提高竞争力的重要前提。然而传统的效率评价方法具有很大的局限性。一方面,传统的效率评价方法只是将上市公司看作一个“黑箱”,忽略了其内部运行机制,只是从最初的投入和最终的产出来考察效率,难以得到全面客观的效率评价结果,因而从探索企业内部运作过程的角度来对上市公司效率进行评价是十分必要的;另一方面,传统的方法绝大部分侧重于静态评价,而实际生产过程是一个动态的过程,它会随着自身和外界的变化而进行相应的调整,静态评价的结果并不能真实的反映生产运作的效率,从而影响管理者决策的正确性,甚至会使公司的战略失误,因此有必要从动态的角度研究生产运作过程的效率。
本文在充分论述国内外现有理论与实证研究成果的基础上,首先研究了两阶段关联DEA模型的若干理论问题,包括系统要素问题、系统结构问题、混合问题,并以系统要素问题为例推导出了改进的两阶段关联DEA模型,包括不变规模报酬下的两阶段关联DEA模型的改进、可变规模报酬下的两阶段关联DEA模型的改进。针对要素变化对效率的影响,引入了效率损失值、效率增强值的概念,效率损失(增强)值在一定程度上反映了要素损失(增强)所带来的影响。其次,结合上市公司经营的实际过程,以我国14家上市银行为例进行了相对效率评价,结果表明改进的两阶段关联DEA模型适用性更广、识别能力更强、测算结果更贴近现实。最后,在上述实证研究的基础上,结合我国已上市的14家银行的实际情况提出了相应的效率提高途径,对于我国上市银行经营管理水平和市场竞争力的提高具有重要的参考价值。
After joining the WTO, The market competition environment is becoming increasingly fierce, the enterprises in China are facing unprecedented opportunities and challenges, to maintain and enhance competitiveness, improve the efficiency is an effective way. Efficiency evaluation is an important content of efficiency and it is a basic guarantee for efficiency enhancing. Objectively and scientifically on efficiency evaluation of the listed company to found itself in the advantages and disadvantages, and through the improvement of management strategies to improve efficiency evaluation and market competitiveness, so it is an important premise for improving the competitiveness of listed companies. However the traditional efficiency evaluation method has great limitations, on one hand, it take the listed company as "black box", ignore the internal mechanism and just take the initial input and output to investigate the efficiency, it can't has comprehensive result, thus it is necessary to explore internal operation process from the Angle of the listed company efficiency evaluation, On the other hand, the traditional method for most static evaluation, and located in practical production process is a dynamic process, it will be as itself and the changes in the outside world and the corresponding adjustment, static evaluation results do not reflect the real operation efficiency, which affects the correctness of the decision-making, even the company's strategic errors affect the correct operating company, therefore, it is necessary to study the dynamic process of production efficiency.
Based on the existing theory and empirical research, on the basis of the first two stages DEA model was studied, it has some problems, including the system elements, the system structure, and the mixed problem with system elements is deduced for the improvement of two phase correlation DEA model, including constant scale under two stages of remuneration DEA model, related variable scale under two stages of remuneration of the DEA model associated. According to the changes of the influence of efficiency, increase efficiency loss value on the concept of value, efficiency, efficiency loss (enhancement) in a certain extent, reflected elements loss (enhancement). Secondly, combined with the practical process of listed companies operating in China, with 14 listed Banks, as an example, the relative evaluation results improved two-phase association DEA model, applicability, and stronger ability to identify more close to reality the results. Finally, in the empirical research on the basis of Chinese listed the actual situation of Banks and puts forward the corresponding ways to improve efficiency and management level of Chinese listed Banks and market competitiveness has important reference value.
本文在充分论述国内外现有理论与实证研究成果的基础上,首先研究了两阶段关联DEA模型的若干理论问题,包括系统要素问题、系统结构问题、混合问题,并以系统要素问题为例推导出了改进的两阶段关联DEA模型,包括不变规模报酬下的两阶段关联DEA模型的改进、可变规模报酬下的两阶段关联DEA模型的改进。针对要素变化对效率的影响,引入了效率损失值、效率增强值的概念,效率损失(增强)值在一定程度上反映了要素损失(增强)所带来的影响。其次,结合上市公司经营的实际过程,以我国14家上市银行为例进行了相对效率评价,结果表明改进的两阶段关联DEA模型适用性更广、识别能力更强、测算结果更贴近现实。最后,在上述实证研究的基础上,结合我国已上市的14家银行的实际情况提出了相应的效率提高途径,对于我国上市银行经营管理水平和市场竞争力的提高具有重要的参考价值。
After joining the WTO, The market competition environment is becoming increasingly fierce, the enterprises in China are facing unprecedented opportunities and challenges, to maintain and enhance competitiveness, improve the efficiency is an effective way. Efficiency evaluation is an important content of efficiency and it is a basic guarantee for efficiency enhancing. Objectively and scientifically on efficiency evaluation of the listed company to found itself in the advantages and disadvantages, and through the improvement of management strategies to improve efficiency evaluation and market competitiveness, so it is an important premise for improving the competitiveness of listed companies. However the traditional efficiency evaluation method has great limitations, on one hand, it take the listed company as "black box", ignore the internal mechanism and just take the initial input and output to investigate the efficiency, it can't has comprehensive result, thus it is necessary to explore internal operation process from the Angle of the listed company efficiency evaluation, On the other hand, the traditional method for most static evaluation, and located in practical production process is a dynamic process, it will be as itself and the changes in the outside world and the corresponding adjustment, static evaluation results do not reflect the real operation efficiency, which affects the correctness of the decision-making, even the company's strategic errors affect the correct operating company, therefore, it is necessary to study the dynamic process of production efficiency.
Based on the existing theory and empirical research, on the basis of the first two stages DEA model was studied, it has some problems, including the system elements, the system structure, and the mixed problem with system elements is deduced for the improvement of two phase correlation DEA model, including constant scale under two stages of remuneration DEA model, related variable scale under two stages of remuneration of the DEA model associated. According to the changes of the influence of efficiency, increase efficiency loss value on the concept of value, efficiency, efficiency loss (enhancement) in a certain extent, reflected elements loss (enhancement). Secondly, combined with the practical process of listed companies operating in China, with 14 listed Banks, as an example, the relative evaluation results improved two-phase association DEA model, applicability, and stronger ability to identify more close to reality the results. Finally, in the empirical research on the basis of Chinese listed the actual situation of Banks and puts forward the corresponding ways to improve efficiency and management level of Chinese listed Banks and market competitiveness has important reference value.
引文
1魏权龄.评价相对有效性的DEA方法.北京:中国人民大学出版社,1988
2盛昭瀚,朱乔,吴广谋. DEA理论方法与应用.科学出版社. 1996:2~5
3 Cooper W W. IDEA and AR-IDEA: Models for Dealing with Imprecise Data in DEA.Management Science. 1999, 45(4):597~607
4刘永清,李光金.要素在有限范围变化的DEA模型.系统工程学报. 1995, (4): 87~94
5何静.只有输出(入)的数据包络分析及应用.系统工程学报. 1995, (2):49~55.
6 Cook W D, Kress M, Seiford L. On the Use of Ordinal in Data Envelopment Analysis. Journal of the Research Society. 1993, 44(20):133~140
7陈灯塔,王应明.成分DEA模型及应用.厦门大学学报. 1999, 38(6):804~810.
8 Yao Chen, Liang Liang, Joe Zhu, Equivalence in Two-stage DEA Approaches, European Journal of Operational Research. 2007, (3): 600~604
9李克秋,唐焕文,曲雯毓.一种特殊结构的DEA模型.应用基础与工程学报. 1997, (2):126~130
10曲雯毓,唐焕文,李克秋.工业经济效益综合评价的DEA方法.系统工程与电子技术. 1998, (10):33~35
11 Yao Chen, Wade D. Cook, Ning Li, Joe Zhu. Additive Efficiency Decomposition in Two-stage DEA. European Journal of Operational Research 196 (2009): 1170~1176
12曾祥云等.随机DEA模型及其应用.系统工程理论与实践. 2000, (6):19~24
13马占新,唐焕文.一个综合的DEA模型及其相关性质.系统工程学报. 1999, (2): 311~316
14 Herbert F. Lewis, Thomas R. Sexton. Network DEA: Efficiency Analysis of Organizations with Complex Internal Structure Computers & Operations Research. 31 (2004): 1365~1410
15钟祖昌,陈功玉.基于网络DEA的供应链绩效评.物流技术. 2006, (4): 29~32
16黄祎,葛虹,冯英俊.基于链形系统的关联网络DEA模型:以我国14家商业银行为例.系统工程理论与实践. 2009, (5): 106~114
17葛虹,黄伟.基于关联网络DEA模型的管理效率评价.运筹与管理. 2009, (1): 132~137
18 Lawrence M. Seiford, Joe Zhu. Profitability and Marketability of the Top 55 U.S. Commercial Banks. Management Science. 1999, 45(9):1270~1288
19 YAO CHEN, JOE ZHU. Measuring Information Technology’s Indirect Impact onFirm Performance. Information Technology and Management. 2004, (5):9~22,
20章忠志,唐焕文,荣莉莉.数据包络分析在信用评估中的应用.运筹与管理. 2004, (2):112~117
21宋阳,李光金.数据包络分析在招聘中的应用.现代管理科学. 2006, (10):19~20
22图雅,马占英,马占新.基于DEA方法的高校人力资源测评方法研究.内蒙古师范大学学报(教育科学版). 2007, (11):11~19
23王宇飞. DEA方法在中国电力行业效益评价中的应用.上海电力学院学报. 2008, (4): 388~392
24 Yi-Kai Juan. A Hybrid Approach Using Data Envelopment Analysis and Case-based Reasoning for Housing Refurbishment Contractors Selection and Performance Improvement. Expert Systems with Applications. 36 (2009):5702~5710
25 Yongjun Li, Feng Yang, Liang Liang, Zhongsheng Hua. Allocating the Fixed Cost as a Complement of Other Cost Inputs: A DEA Approach European Journal of Operational Research. 197 (2009): 389~401
26周悼华,李雪松.基于DEA的上市公司转型房地产业效率研究.管理评论. 2007, 19(6):43~49
27孙鸽.基于DEA的我国房地产业运作效率研究.经济研究导刊. 2007年第9期.
28刘永乐,胡燕京.基于DEA的房地产上市公司业绩分析.统计与决策. 2005, (7)
29刘伟,李宁,杨印生.最优偏离DEA模型及其在农业上市公司绩效评价中的应用.中国现场统计研究会第十三届学术年会论文, 2007, (8)
30韩晶.中国钢铁业上市公司的生产力和生产效率.北京师范大学学报(社会科学版). 2008, (1):119~126
31彭新. DEA分析在上市公司绩效评价中的应用——以能源板块为例.对外经济贸易大学. 2005
32范林榜,梁栋祯,聂锐. DEA在电力业上市公司绩效分析中的应用.行业探讨. 2008, (02):102~104
33刘永乐,孙仲明.房地产上市公司经营效率的DEA评价.统计与信息论坛. 2006, (01):74~78
34马庆国,王凯,丁林采.基于AHP及DEA的石化行业上市公司经营效率评价.中国石油大学学报. 2007, (04):10~14
35苏杭.基于DEA-DA模型的农业上市公司财务核心能力判别研究.吉林大学硕士论文. 2009: 44~46
36 A. Emrouznejad, B.R. Parker, G. Tavares. Evaluation of Research in Efficiency and Productivity: a Survey and Analysis of First 30 Years of Scholarly Literature in DEA. Socio-Economic Planning Sciences. 2008, 42:151~157
37 Cook, W.D., Seiford, L.M., Data Envelopment Analysis (DEA)– Thirty Years On. European Journal of Operational Research. 2009, 192(1):1~17
38吴育华,李从东. DEA方法与生产函数法的比较.系统工程. 1995, (3):15~19.
39王宗军.综合评价的方法、问题及其研究趋势团.管理科学学报. 1998, (l):74~79.
40 Charnes A., Cooper W.W., Golany B., Seiford L.M., Stutz J. Foundations of Data Envelopment Analysis and Pareto-Koopmans Empirical Production Functions. Journal of Econometrics. 1985, 30:91~107
41 Fried H.O., Schmidt S.S., Yaisawarng S. Incorporating the Operational Environment into a Nonparametric Measure of Technical Efficiency. Journal of Productivity Analysis. 1999, 12:24~267
42邓生庆,吴军.公共行政学.四川人民出现社. 2000: 371~372
43汪思谦等.物理学词典——力学分册.科学出版社. 1986, 73~74
44黄祎.基于DEA的多子系统单元相对效率评价模型研究.哈尔滨工业大学博士论文. 2009:38~44
45 M. J. Farrell. The Measurement of Productive Efficiency. Journal of the Royal Statistical Society Series A (General). 1957, 120(3):253~290
46 Fare R., S. Grosskopf, C. Lovell. The Measurement of Efficiency of Production. Boston: Kluwer-Nijhoff Publishers, 1985:185~214
47 A. Charnes, W. W. Coope and E. Rhodes. Measuring the Efficiency of Decision Making Units. European Journal of Operational Research. 1978, (2): 429~444
48 Charnes A., Cooper, W.W. Programming with Linear Fractional Functionals. Naval Research Logistics Quarterly. 1962, 9:67~88
49 Banker R.D., Charnes A., Cooper W.W. Some Models for Estimating Technical and Scale Inefficiencies in Data Envelopment Analysis. Management Science. 1984, 30(9):1078~1092
50 Kao C. Efficiency Decomposition in Network Data Envelopment Analysis: A Relational Model. European Journal of Operational Research. 2009, 192(3): 949~962
51 Kao C. Efficiency Decomposition in Network Data Envelopment Analysis: A Relational Model. European Journal of Operational Research. 2009, 192(3):949~962
52黄祎.基于DEA的多子系统单元相对效率评价模型研究.哈尔滨工业大学博士论文. 2009:38~44
2盛昭瀚,朱乔,吴广谋. DEA理论方法与应用.科学出版社. 1996:2~5
3 Cooper W W. IDEA and AR-IDEA: Models for Dealing with Imprecise Data in DEA.Management Science. 1999, 45(4):597~607
4刘永清,李光金.要素在有限范围变化的DEA模型.系统工程学报. 1995, (4): 87~94
5何静.只有输出(入)的数据包络分析及应用.系统工程学报. 1995, (2):49~55.
6 Cook W D, Kress M, Seiford L. On the Use of Ordinal in Data Envelopment Analysis. Journal of the Research Society. 1993, 44(20):133~140
7陈灯塔,王应明.成分DEA模型及应用.厦门大学学报. 1999, 38(6):804~810.
8 Yao Chen, Liang Liang, Joe Zhu, Equivalence in Two-stage DEA Approaches, European Journal of Operational Research. 2007, (3): 600~604
9李克秋,唐焕文,曲雯毓.一种特殊结构的DEA模型.应用基础与工程学报. 1997, (2):126~130
10曲雯毓,唐焕文,李克秋.工业经济效益综合评价的DEA方法.系统工程与电子技术. 1998, (10):33~35
11 Yao Chen, Wade D. Cook, Ning Li, Joe Zhu. Additive Efficiency Decomposition in Two-stage DEA. European Journal of Operational Research 196 (2009): 1170~1176
12曾祥云等.随机DEA模型及其应用.系统工程理论与实践. 2000, (6):19~24
13马占新,唐焕文.一个综合的DEA模型及其相关性质.系统工程学报. 1999, (2): 311~316
14 Herbert F. Lewis, Thomas R. Sexton. Network DEA: Efficiency Analysis of Organizations with Complex Internal Structure Computers & Operations Research. 31 (2004): 1365~1410
15钟祖昌,陈功玉.基于网络DEA的供应链绩效评.物流技术. 2006, (4): 29~32
16黄祎,葛虹,冯英俊.基于链形系统的关联网络DEA模型:以我国14家商业银行为例.系统工程理论与实践. 2009, (5): 106~114
17葛虹,黄伟.基于关联网络DEA模型的管理效率评价.运筹与管理. 2009, (1): 132~137
18 Lawrence M. Seiford, Joe Zhu. Profitability and Marketability of the Top 55 U.S. Commercial Banks. Management Science. 1999, 45(9):1270~1288
19 YAO CHEN, JOE ZHU. Measuring Information Technology’s Indirect Impact onFirm Performance. Information Technology and Management. 2004, (5):9~22,
20章忠志,唐焕文,荣莉莉.数据包络分析在信用评估中的应用.运筹与管理. 2004, (2):112~117
21宋阳,李光金.数据包络分析在招聘中的应用.现代管理科学. 2006, (10):19~20
22图雅,马占英,马占新.基于DEA方法的高校人力资源测评方法研究.内蒙古师范大学学报(教育科学版). 2007, (11):11~19
23王宇飞. DEA方法在中国电力行业效益评价中的应用.上海电力学院学报. 2008, (4): 388~392
24 Yi-Kai Juan. A Hybrid Approach Using Data Envelopment Analysis and Case-based Reasoning for Housing Refurbishment Contractors Selection and Performance Improvement. Expert Systems with Applications. 36 (2009):5702~5710
25 Yongjun Li, Feng Yang, Liang Liang, Zhongsheng Hua. Allocating the Fixed Cost as a Complement of Other Cost Inputs: A DEA Approach European Journal of Operational Research. 197 (2009): 389~401
26周悼华,李雪松.基于DEA的上市公司转型房地产业效率研究.管理评论. 2007, 19(6):43~49
27孙鸽.基于DEA的我国房地产业运作效率研究.经济研究导刊. 2007年第9期.
28刘永乐,胡燕京.基于DEA的房地产上市公司业绩分析.统计与决策. 2005, (7)
29刘伟,李宁,杨印生.最优偏离DEA模型及其在农业上市公司绩效评价中的应用.中国现场统计研究会第十三届学术年会论文, 2007, (8)
30韩晶.中国钢铁业上市公司的生产力和生产效率.北京师范大学学报(社会科学版). 2008, (1):119~126
31彭新. DEA分析在上市公司绩效评价中的应用——以能源板块为例.对外经济贸易大学. 2005
32范林榜,梁栋祯,聂锐. DEA在电力业上市公司绩效分析中的应用.行业探讨. 2008, (02):102~104
33刘永乐,孙仲明.房地产上市公司经营效率的DEA评价.统计与信息论坛. 2006, (01):74~78
34马庆国,王凯,丁林采.基于AHP及DEA的石化行业上市公司经营效率评价.中国石油大学学报. 2007, (04):10~14
35苏杭.基于DEA-DA模型的农业上市公司财务核心能力判别研究.吉林大学硕士论文. 2009: 44~46
36 A. Emrouznejad, B.R. Parker, G. Tavares. Evaluation of Research in Efficiency and Productivity: a Survey and Analysis of First 30 Years of Scholarly Literature in DEA. Socio-Economic Planning Sciences. 2008, 42:151~157
37 Cook, W.D., Seiford, L.M., Data Envelopment Analysis (DEA)– Thirty Years On. European Journal of Operational Research. 2009, 192(1):1~17
38吴育华,李从东. DEA方法与生产函数法的比较.系统工程. 1995, (3):15~19.
39王宗军.综合评价的方法、问题及其研究趋势团.管理科学学报. 1998, (l):74~79.
40 Charnes A., Cooper W.W., Golany B., Seiford L.M., Stutz J. Foundations of Data Envelopment Analysis and Pareto-Koopmans Empirical Production Functions. Journal of Econometrics. 1985, 30:91~107
41 Fried H.O., Schmidt S.S., Yaisawarng S. Incorporating the Operational Environment into a Nonparametric Measure of Technical Efficiency. Journal of Productivity Analysis. 1999, 12:24~267
42邓生庆,吴军.公共行政学.四川人民出现社. 2000: 371~372
43汪思谦等.物理学词典——力学分册.科学出版社. 1986, 73~74
44黄祎.基于DEA的多子系统单元相对效率评价模型研究.哈尔滨工业大学博士论文. 2009:38~44
45 M. J. Farrell. The Measurement of Productive Efficiency. Journal of the Royal Statistical Society Series A (General). 1957, 120(3):253~290
46 Fare R., S. Grosskopf, C. Lovell. The Measurement of Efficiency of Production. Boston: Kluwer-Nijhoff Publishers, 1985:185~214
47 A. Charnes, W. W. Coope and E. Rhodes. Measuring the Efficiency of Decision Making Units. European Journal of Operational Research. 1978, (2): 429~444
48 Charnes A., Cooper, W.W. Programming with Linear Fractional Functionals. Naval Research Logistics Quarterly. 1962, 9:67~88
49 Banker R.D., Charnes A., Cooper W.W. Some Models for Estimating Technical and Scale Inefficiencies in Data Envelopment Analysis. Management Science. 1984, 30(9):1078~1092
50 Kao C. Efficiency Decomposition in Network Data Envelopment Analysis: A Relational Model. European Journal of Operational Research. 2009, 192(3): 949~962
51 Kao C. Efficiency Decomposition in Network Data Envelopment Analysis: A Relational Model. European Journal of Operational Research. 2009, 192(3):949~962
52黄祎.基于DEA的多子系统单元相对效率评价模型研究.哈尔滨工业大学博士论文. 2009:38~44