Analysis Of The Driving Force For Growth Of All Factor Productivtity In Listed Petrochemical Enterprises

Growth in the all factor productivity of enterprises is the basis and insurance for the overall industries' economic efficiency and its sustainable development. Exploring the driving force and approaches for productivity growth is of both theoretical and practical significances.In this thesis the financial data of numerous listed petrochemical enterprises during 1990-1999 were collected, the global all factor productivity and technical efficiency in the industry were estimated based on the production function. The parallel estimations were carried out for enterprises in United States, Western Europe, Japan, China, and other countries. The all factor productivity was dynamically decomposed, and the relationship between technical efficiency and its impact factors was formulated. Such rules were demonstrated in the growth of China's leading petrochemical enterprises during 1990-2005.It was found that the driving feature for productivity growth can be categorized as three levels, each with different contributions from technological progress and technical efficiency. The driving force for the transition between levels was technological progress, and the promoting force was technical efficiency. It was discovered through further factor decomposition of technical efficiency (promoting force) that the impact of enterprise scale on the technical efficiency was a stable value. The fraction of R&D input in the sale income was positively related to the enterprises technical efficiency and had an impact on the growth level of the enterprise. Above conclusions were well verified in the productivity growth process in China's leading enterprises. The adoption of changeable return to scale in production function for the estimation of petrochemical enterprises productivity; categorization of the driving feature of productivity growth as different levels, and quantitative analysis of driving force for the growth of China's petrochemical enterprises according to global measures constituted three novelties of this thesis.Based on the above studies, this thesis proposed some suggestions for the promotion of the technological progress and technical efficiency in China's petrochemical enterprises.