Research On Operating Efficiency Of Tourist Attraction Listed Companies In China

With the development of tourism industry, the number of tourism enterprisesincreasing year by year. Tourism listed companies have formed a particular groupin the stocks of Shanghai and Shenzhen, leading the development of China’stourism. The tourist attraction listed company is a typical representative oftourism listed companies, but the research is not rich enough. How to evaluatethe operating efficiency of the tourist attraction listed companies is veryimportant, should arouse the attention of academic circles. Under the influence of"ticket economy", the problem of listed companies’ operating efficiency shouldbe pay more attention.Efficiency evaluation is an essential component of the tourism enterprisemanagement. Evaluation of operational efficiency is not only the basis for thesustainable development, but also in favor of the tourism resources utilizationand protection. Therefore, the assessment of operational efficiency of enterpriseswas an important and wide range of topics. For a long time, scholars of differentfields have tried on listed company business efficiency analysis. In recent years,research on tourism listed companies’ efficiency has also made someachievements. On this basis, this paper use data envelopment analysis and Tobitmodel, to make an attempt analysis on operating efficiency of tourist attractionlisted companies in China. Based on tourist attraction listed companies, selectingthe operational data from financial report from2002to2011, the paper applieddata envelopment analysis to research, which on the one hand helped to see theoperating efficiency of tourist attraction listed companies, and also to providefeasible policy suggestions, on the other hand helped enrich and strengthen dataenvelopment analysis in the application field of tourism.The article made the operating efficiency of listed companies of touristattraction in China as the subject for study. Based on the results of the analysispointed out that the tourist attraction listed companies’ efficiency and theinfluencing factors, and put forward the policy suggestions, in the view of thegovernment and managers. Full text was divided into the following aspects:Firstly, to make sure the tourist attraction listed companies as the research object, this paper discusses the research background and significance, research methodsand ideas, and related concept definition. And the related references werereviewed, and concluded the enlightenment. Based on the principle of DEAtheory and analysis methods, combined with operating characteristics of thetourist attraction listed companies, proposed the indexes of tourist attractionlisted companies efficiency evaluation and explained the relevant evaluationindexes. On this basis, built evaluation model for operating efficiency of touristattraction listed companies. Secondly, based on data envelopment analysis (DEA)model, using the CRS model and VRS model of DEA, the author analyzed thestatus of the tourist attraction listed companies, analyzed quantitatively theoperational efficiencies of the tourist attraction listed companies from2002to2011, conducted different ownership and different years, summed up to obtainthe features of operating efficiency of the tourist attraction listed companiesanalyzed the influential factors of the tourist attraction listed companies in China.Finally, from the government and managers perspective, the measures wereproposed to improve the efficiency of tourist attraction listed companies. Thepaper got the following conclusions:(1) For the industry as a whole, all thetechnical efficiency, pure technical efficiency and scale efficiency have somedistance comparing with the optimal efficiency level;(2) Different touristattraction listed companies have different returns to scale, measures should betaken;(3) There are differences in different property right structure of touristattraction listed companies’ operating efficiency;(4) Malmquist index fluctuationin operating efficiency of tourist attraction listed companies;(5) The operatingefficiency of tourist attraction listed companies’ operating efficiency in Chinahave great room for improvement, and the improvement in different directions;(6) The factors in operational efficiency of tourist attraction listed companies areboth endogenous and exogenous factors.The study involved in tourism, economics, management, finance, and otherdisciplines, strengthened integration and efforts related to interdisciplinaryresearch, which is helpful to the improvement of operating efficiency, and topromote tourist attraction listed companies’ development to be better andsustainable, and to find their own suitable development model, under the newsituation.