基于DEA模型的我国信息技术上市公司绩效评价实证研究
摘要
信息技术是当今世界经济社会发展的重要驱动力,电子信息产业是国民经济的战略性、基础性和先导性支柱产业,对于促进社会就业、拉动经济增长、调整产业结构、转变发展方式和维护国家安全具有十分重要的作用。我国已成为全球最大的电子信息产品制造基地,在通信、高性能计算机、数字电视等领域也取得一系列重大技术突破。与此同时,在行业逐步发展完善、求新求变的过程中,信息技术企业也会在不同程度上受到挑战、压力和冲击,也将面临着新的机遇。信息技术企业如何提高绩效,培育和提升竞争能力已是业界广泛讨论的话题。同时,如何对其的绩效进行评价也成了研究的一个热点和难点。本研究通过DEA方法与其他绩效评价方法的对比,对DEA方法在信息技术上市公司绩效评价中的适用性进行了分析。通过筛选合适的决策单元,建立输入输出指标体系,确定DEA计算模型等一系列步骤,构建了一套完整的基于DEA的信息技术上市公司绩效评价模式。
本研究本着理论联系实际的原则,利用DEA方法,依靠横向(不同公司间的比较)和纵向(不同年份间的比较)两条线相结合的分析思路,保证了研究的客观性和可比较性,通过对具体的信息技术上市企业进行DEA有效性评价,揭示其所处的一个发展现状,为企业实际经营中出现的资源冗余、技术效率低、规模不当等问题提供一个的良好的识别方法,进而提出一些解决问题的途径和措施。由于我国证券市场在不断地走向成熟,投资人的投资更趋于理性,本研究意义还在于为广大投资者认识和了解信息技术上市公司,进行投资决策提供一定的参考。
Information technology(IT) is an important driving force of the world's economic and social development. Electronic information industry is the pillar industry of national economy, with strategic, fundamental and guiding. It plays an important role in promote social employment, stimulating economic growth, adjusting the industrial structure, transform the mode and maintenance of national security. China has become the world's largest electronic information product manufacturing base, and has made a series of major technological breakthrough in many areas, such as communications, high-performance computers, digital television. At the same time, with it gradually developed, IT companies will be faced with challenge , pressure and impact in varying degrees, and also new opportunities. Improve performance, foster and enhance the competitiveness has become a widely discussed topic in IT enterprises. And how to evaluate the performance has become a research hotspot and difficult. This article compared the DEA and other performance evaluation methods, and analysed the applicability of DEA method in the IT listed companies performance evaluation. With a series of steps, select appropriate decision-making unit, establish input and output index system, determine the DEA calculated model, constructed a complete set of DEA-based performance evaluation model for IT listed company.
In this paper, with the principle of linking theory with practice, used DEA method, combined horizontal comparison (between different companies) and vertical comparison (between different years), ensured the objectivity and comparability. Through specific DEA effectiveness evaluation of IT listed companies, revealed the status of its development, provided a good identification for the problems during enterprises operating, such as resource redundancy, low technical efficiency, inappropriate scale, and presented a solution and measures to solve problems. As China's stock market gradually mature, the investors become more rational, this study could help the general investor awareness and understanding of IT listed companies, and provided a reference for investment decisions.
本研究本着理论联系实际的原则,利用DEA方法,依靠横向(不同公司间的比较)和纵向(不同年份间的比较)两条线相结合的分析思路,保证了研究的客观性和可比较性,通过对具体的信息技术上市企业进行DEA有效性评价,揭示其所处的一个发展现状,为企业实际经营中出现的资源冗余、技术效率低、规模不当等问题提供一个的良好的识别方法,进而提出一些解决问题的途径和措施。由于我国证券市场在不断地走向成熟,投资人的投资更趋于理性,本研究意义还在于为广大投资者认识和了解信息技术上市公司,进行投资决策提供一定的参考。
Information technology(IT) is an important driving force of the world's economic and social development. Electronic information industry is the pillar industry of national economy, with strategic, fundamental and guiding. It plays an important role in promote social employment, stimulating economic growth, adjusting the industrial structure, transform the mode and maintenance of national security. China has become the world's largest electronic information product manufacturing base, and has made a series of major technological breakthrough in many areas, such as communications, high-performance computers, digital television. At the same time, with it gradually developed, IT companies will be faced with challenge , pressure and impact in varying degrees, and also new opportunities. Improve performance, foster and enhance the competitiveness has become a widely discussed topic in IT enterprises. And how to evaluate the performance has become a research hotspot and difficult. This article compared the DEA and other performance evaluation methods, and analysed the applicability of DEA method in the IT listed companies performance evaluation. With a series of steps, select appropriate decision-making unit, establish input and output index system, determine the DEA calculated model, constructed a complete set of DEA-based performance evaluation model for IT listed company.
In this paper, with the principle of linking theory with practice, used DEA method, combined horizontal comparison (between different companies) and vertical comparison (between different years), ensured the objectivity and comparability. Through specific DEA effectiveness evaluation of IT listed companies, revealed the status of its development, provided a good identification for the problems during enterprises operating, such as resource redundancy, low technical efficiency, inappropriate scale, and presented a solution and measures to solve problems. As China's stock market gradually mature, the investors become more rational, this study could help the general investor awareness and understanding of IT listed companies, and provided a reference for investment decisions.
引文
[l]杨宝臣刘铮高春阳.商业银行有效性评价方法[J].管理工程学报,1999,13(1):13-19.
[2]丁文桓,冯英浚,康宇虹.基于DEA的投资基金业绩评估[J].数量经济技术经济研究,2002,(3):95-101.
[3]樊宏.基于DEA模型的我国证券公司评价方法及应用[J].数量经济技术经济研究,2002,(4):115-121.
[4]许水龙.技术进步评估的DEA方法[J1.数量经济技术经济研究,1995,(8):45-50.
[5]Diewert WE.Ca Pital and the theory of Produetivity measuremeni[J].Ameriean Economic Review,1980,(5):260-267.
[6]魏权龄.估计要素增长型技术进步滞后及超前年限的DEA模型[J].数量经济技术经济研究,1991,(3):11-17.
[7]姜秀山,祝甲山.改进的DEA方法及其在测算科技进步中的应用[J].数量经济技术经济研究,2000,(5):59-62.
[8]金玲娣.福建省重点行业技术创新相对有效性分析[J].科学管理研究,2000,(5):75-78
[9]杜栋.企业技术创新评价的DEA方法[J].系统工程理论方法应用,2001,10(l).
[10]莫剑芳,叶世绮.基于DEA的资源配置状况分析[J].运筹与管理,2002,1l(l):42-45.
[11]曾祥云,吴育华,郑道英.随机DEA模型及其应用[J].系统工程理论与实践,2003(6):19-24.
[12]曾祥云,吴育华.随机DMU相对有效性评价的期望值方法及其应用[J].系统工程理论与实践,2000,15(3):247-252.
[13]张晓敏,刘志迎.我国信息技术产业上市公司效率分析[J].科技与经济,2007, 6(3):27-30.
[14]段永瑞.数据包络分析:理论与应用[M].上海科学普及出版社,2006.
[15]魏权龄.评价相对有效性的DEA方法――运筹学的新领域.北京:中国人民大学出版社,1988.
[16]伍海华.上市公司业绩DEA有效分析:以青岛市为例[J],山东经济.2003,(2).
[17]郭雷.综合变量DEA方法及其应用研究[D].大连理工大学.2005.
[18]Anderson P, Peterson N C. A Procedure for Rank Efficient Units in Data Envelopment Analysis. Management Science,1993.
[19]Banker R D.Estimatinn Most Productive Scale Using Date Envelopment Analysis European Journal of Operational Research,1984.
[20]孙宗虎,罗辉,绩效考核量化管理全案[M],人民邮电出版社,2008.
[21]Jon Warner. Performance Appraisal and Development. The Janus Performance System(Volume 2),2002.
[22]伊隆森,孙宗虎.目标分解与绩效考核设计实务[M].人民邮电出版社,2006.
[23]潘琐,程小可.上市公司经营业绩主成分分析方法[D].会计研究,2000.
[24]吴炜伟.基于DEA的房地产上市公司绩效评价模式研究[D].浙江大学,2008.
[25]李德春,肖岳峰.电子信息业上市公司业绩的二次相对评价[J].桂林电子工业学院学报,2006.
[26]刘秀芹.因子分析法在电子行业上市公司绩效评价中的应用[J].北方工业大学学报,2004.
[27]Liu yali. On the stakeholder-orientated integrated performance assessment for natural monopoly enterprises, Management review:2003.
[28]R.D.Banker, W.W.Cooper, E.Grifell-Tajte. Validation and generalization of DEA and its uses. top ,Springer-Verlag.2006.
[29]王俊.DEA模型中的权重[D].中南大学.2007.
[30]刘力昌,冯根福.经济系统分析基于DEA的上市公司股权融资效率评价.系统工程,2004(12).
[2]丁文桓,冯英浚,康宇虹.基于DEA的投资基金业绩评估[J].数量经济技术经济研究,2002,(3):95-101.
[3]樊宏.基于DEA模型的我国证券公司评价方法及应用[J].数量经济技术经济研究,2002,(4):115-121.
[4]许水龙.技术进步评估的DEA方法[J1.数量经济技术经济研究,1995,(8):45-50.
[5]Diewert WE.Ca Pital and the theory of Produetivity measuremeni[J].Ameriean Economic Review,1980,(5):260-267.
[6]魏权龄.估计要素增长型技术进步滞后及超前年限的DEA模型[J].数量经济技术经济研究,1991,(3):11-17.
[7]姜秀山,祝甲山.改进的DEA方法及其在测算科技进步中的应用[J].数量经济技术经济研究,2000,(5):59-62.
[8]金玲娣.福建省重点行业技术创新相对有效性分析[J].科学管理研究,2000,(5):75-78
[9]杜栋.企业技术创新评价的DEA方法[J].系统工程理论方法应用,2001,10(l).
[10]莫剑芳,叶世绮.基于DEA的资源配置状况分析[J].运筹与管理,2002,1l(l):42-45.
[11]曾祥云,吴育华,郑道英.随机DEA模型及其应用[J].系统工程理论与实践,2003(6):19-24.
[12]曾祥云,吴育华.随机DMU相对有效性评价的期望值方法及其应用[J].系统工程理论与实践,2000,15(3):247-252.
[13]张晓敏,刘志迎.我国信息技术产业上市公司效率分析[J].科技与经济,2007, 6(3):27-30.
[14]段永瑞.数据包络分析:理论与应用[M].上海科学普及出版社,2006.
[15]魏权龄.评价相对有效性的DEA方法――运筹学的新领域.北京:中国人民大学出版社,1988.
[16]伍海华.上市公司业绩DEA有效分析:以青岛市为例[J],山东经济.2003,(2).
[17]郭雷.综合变量DEA方法及其应用研究[D].大连理工大学.2005.
[18]Anderson P, Peterson N C. A Procedure for Rank Efficient Units in Data Envelopment Analysis. Management Science,1993.
[19]Banker R D.Estimatinn Most Productive Scale Using Date Envelopment Analysis European Journal of Operational Research,1984.
[20]孙宗虎,罗辉,绩效考核量化管理全案[M],人民邮电出版社,2008.
[21]Jon Warner. Performance Appraisal and Development. The Janus Performance System(Volume 2),2002.
[22]伊隆森,孙宗虎.目标分解与绩效考核设计实务[M].人民邮电出版社,2006.
[23]潘琐,程小可.上市公司经营业绩主成分分析方法[D].会计研究,2000.
[24]吴炜伟.基于DEA的房地产上市公司绩效评价模式研究[D].浙江大学,2008.
[25]李德春,肖岳峰.电子信息业上市公司业绩的二次相对评价[J].桂林电子工业学院学报,2006.
[26]刘秀芹.因子分析法在电子行业上市公司绩效评价中的应用[J].北方工业大学学报,2004.
[27]Liu yali. On the stakeholder-orientated integrated performance assessment for natural monopoly enterprises, Management review:2003.
[28]R.D.Banker, W.W.Cooper, E.Grifell-Tajte. Validation and generalization of DEA and its uses. top ,Springer-Verlag.2006.
[29]王俊.DEA模型中的权重[D].中南大学.2007.
[30]刘力昌,冯根福.经济系统分析基于DEA的上市公司股权融资效率评价.系统工程,2004(12).