| The position of environmental protection industry has beenstrengthened as China’s rapid economic development, especially in 2011,the opening year of“12th Five-Year Plan”. We should sum up theexperience of the environmental protection work in the“11th Five-YearPlan”. And at the same time, we also might look forward to the brightprospects of the environmental protection work, and continue to explorenew methods to develop it, making the improvement of the environmentalprotection work as the core. The environmental protection industry asChina’s strategic and emerging industry has a bright future, and it issignificant for national economic growth. In the“11th Five- Year”period,the total investment to environmental protection industry has reached 1.53trillion RMB, almost twice that of the 12th Five. Recently, several policieshave been issued by Development and Reform Commission, such as“Energy Saving and Environmental Protection Industry DevelopmentPlanning of the 12th Five”and "Environment and Service IndustryDevelopment Planning of the 12th Five”. They are the combination of somany bureaus’proposals, including the Ministry of EnvironmentalProtection, Ministry of Finance, State Administration of Taxation, ThePeople’s Bank of China. It is expected that the total investment to energysaving and environmental protection industry will be amount to 3.1trillionRMB in the“12th Five-Year”period. The listed companies lead anexemplary role in the environmental protection industry.Combining the two methods of factor analysis and data envelopmentanalysis, the thesis makes an empirical research on the environmentalprotection industry in China listed companies, and builds a performancemodel based on the 2011 annual report of the environmental listedcompanies’financial data. Firstly, the study reviews the researchapproaches of performance evaluation at home and abroad. Secondly, itmakes an analysis of the status of listed companies in the environmentalindustry. Lastly, it makes an evaluation on the performance ofenvironmental listed companies by the use of factor analysis. The approachof factor analysis can extract the common factor from a variety of factorsthat reflects the main information. The study puts the common factor in theconstructed model which can calculate the scores of all the companies andaccordingly they are sorted based on these scores. Then it uses the commonfactor extracted as the source factor to become a factor in the dataenvelopment analysis model. The decision making units can be sortedaccording to the value of the relative efficiency got from the calculation1. The growing ability occupies the first pace among the four commonfactors, followed by the profit factor. The companies that get the high scores in the growth and profitability will have a strong advantage in thecomposite scores. Therefore, the companies that want to get good scores inthe composite scores should focus their attention on the growth andprofitability under the balanced development status.2. Use the four common factors extracted from factor analysis as thesource factor to make data envelopment analysis. Through the empiricalresearch, I find that if the companies’pure technique and scale are valid atthe same time, their technical efficiency is always valid. The reasons for theinvalidation of company’s total technical efficiency are from theinvalidation of pure technical efficiency or the invalidation of scaleefficiency. If the total efficiency of the company is invalid, it is no doubtthat the company should find out the reasons according to its actualsituation. And find ways out to make the company towards the healthydevelopment direction with the technical efficiency of 1. |
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