Study On Steel Industry's Efficiency And Its Influence Factors In China

China's steel output ranks first in the world, but China's iron and steel enterprises in technology and efficiency are very difficult to become a world-class, especially in the economic crisis, the ability to resist to risk of China's iron and steel enterprises is undoubtedly weaker. This are because low concentration of Chinese iron and steel industry and efficiency of Chinese steel business. Therefore, the efficiency of iron and steel enterprises operate a comprehensive assessment,and research various impact elements of efficiency is particularly important. This will improve the operating performance of our steel business, fundamentally strengthen the competitiveness of enterprises and enhance their ability to withstand risk has important value.To achieve the comprehensive, objective study and evaluation, this paper defines the performance of the content of the steel industry, and theoretical overview of the performance evaluation models of various DEA and Malmquist indexThen, in the empirical analysis phase, the paper used non-parametric DEA to effective evaluate the size efficiency,pure technical efficiency and technical efficiency of China's steel enterprises that China listed companies (excluding statements incomplete, ST / PT outside the company) before January 2003 by researching their financial costs and the net proceeds occurred in 2006-2009. Because these studies are cross-sectional data used to make the static analysis, this paper further used Malmquist index to analysis the efficiency of the dynamic analysis and answered the changes in the development situation of different periods. Thus we can find out the source .Then, we treat real efficiency value of iron and steel industry by DEA as explanatory variables, selected for six indicators-asset-liability ratio, current liabilities ratio, percentage of shares outstanding, company size, the largest and the shareholding ratio of the top ten shareholders ratio as effect factors, the use of Tobit analyze the factors. Study found that:. Asset-liability ratio, current liabilities, company size on the efficiency of iron and steel industry, a significant negative impact; percentage of shares outstanding, ownership concentration on the efficiency of the steel industry had a positive but not significant impact.In the end, this study combines the findings of the study to improve the operating performance of China's steel industry, made reference of proposals and prospects.