A Research On Technical Efficiency And Influence Factors Of Strategic Emerging Industries In China

After the2008international financial crisis, every government has stepped up theinvestment on technology innovation. China formulated the policy of developing thestrategic emerging industry in2009. This industry mainly included new energy, newenergy automobiles, the new generation of information technology, energyconservation, environmental protection, biotechnology, new materials and high-endequipment manufacturing. The economic growth mainly depends on the input offactors of protection and the production efficiency. Under the circumstance ofadvocating the economic development of technology innovation, technical efficiencyhas become one of the important indexes in measuring production efficiency.Therefore, the research on China’s strategic emerging industry technical efficiency isbeneficial to improve the overall level of strategic new industry and economicdevelopment in China.Based on expounding China’s strategic emerging industry’s related theories andthe development conditions and the technical efficiency theory and measuring method,this article regards7big industry listed companies of strategic emerging industry asthe research objects, which referred to the uniform sampling method, selecting15listed companies, a total of105listed companies.We adopted the frontier analysis toanalyze this7big industry technical efficiency calculation, then the technicalefficiency measured out was thought variable and after that the Tobit model totechnical efficiency influential factors was analyzed.We can come to a conclusion as follows:Firstly, we can see that all these industries show different degrees of growth inthe income, fixed assets and the employees aspects, the new energy cars and newmaterials industry sharing the most rapid growth speed among the advocate businessincome; new energy and new energy automotive industry sharing the fastest growthamong the fixed assets; the industry relevant to the environment protecting and newinformation technology being the one with the highest rate of increasing theemployees.Secondly, the technical efficiency of the new energy automobile and the newgeneration new energy industry are relatively higher, followed by biotechnology andnew material industries. And the lower ones are high-end equipment manufacturingindustry, energy conservation, environment protection industry, new energy industry.Those three industries are also being the below the average level, with the new energy industry’s being the lowest.Thirdly, the ownership concentration, ownership properties, capital structure,management level and export properties have significant influence on technicalefficiency. Among all these, stock right system, ownership structure, capital structureand export proportions are in a positive correlation with the technical efficiency. Themanagement level is in a negative correlation with the technical efficiency.