摘要
基于数据包络分析方法 (DEA),以2005-2010年的数据为样本对我国上市生物医药企业融资效率进行了实证研究,研究发现,(1)我国部分上市生物医药的融资效率已达到了较高水平,其融入资金已得到有效利用;但也有相当一部分企业融资效率仍处于非有效状态,投入和产出存在冗余。(2)在融资效率处于非有效状态的企业中,大约44%的企业其融资效率已接近有效状态,反映了我国上市生物医药企业融资效率从非有效状态向有效状态发展的潜力较大。(3)纵向比较表明我国上市生物医药企业的融资效率整体上有逐年提高的趋势,但提高速度较慢。
Based on Data Envelopment Analysis method （DEA） and taken the annual data of 2005 -2010 as sample, the paper studies the financing efficiency of Chinese listed biomedical companies empirically. It indicates that （ 1 ） the financing efficiency of part of Chinese listed biomedical companies has reached a high level and used the capital which is invested by shareholder effectively. Otherwise the financing efficiency of large scale of Chinese listed biomedical compa- nies is still inefficient. Redundancy can be found in their devotion output and their financing efficiency is to be improved. （2） The financing efficiency about 44% Chinese listed biomedical companies is close to effective state among those inefficient companies. It reflects that there are large potential in the process from the state of inefficient to efficient of Chinese listed biomedical companies. （3） It also finds a trend that the financing efficiency of Chinese listed biomedical companies is improved year after year in total by comparison with 2005 -2010, but the speed is slow.
出处
《科技管理研究》
CSSCI
北大核心
2013年第2期174-178,共5页
Science and Technology Management Research
基金
天津市科技发展战略研究计划项目(11ZLZLZF09000)
天津商业大学青年科研培育基金项目(091111)
