Research On Evaluation For Operational Efficiency Of Logistics Listed Companies Based On Two-stage DEA Model

Since the21th century, with the continuous growth of the Chineseeconomy,the scale ofChina’s logistics industry is expanding, the level of logistics industry is developingsignificantly, logistics infrastructure is gradually perfect, and the strength of logisticsenterprises is growing. Nevertheless, the overall development level of China’s logisticsindustry is stilllow; logistics enterprises performance is still to be improved. With the foreignenterprises to enter the China’s logistics market, China’s logistics enterprises are facingincreasingly competition in the market. How to improve the management level of China’slogistics enterprises, improve the operational performance, enhance the ability of marketcompetition and risk resistance, is an important problem to be solved for China’s LogisticsEnterprises.The evaluation of the logistics enterprises operational efficiency can help logisticsenterprises formaking clear their own operational conditions, and providingit withreferencesinallocation ofresources, improvingoperational efficiency and enhancing the marketcompetitiveness.Scientific evaluation of operational efficiency is able to help China’s logisticsenterprises know their own operational conditions,provides references for allocating investresources, improvingoperational efficiency, enhance the market competitiveness.First, this paper reviews the relevant literatures on the evaluation of logistics enterpriseperformance in china and abroad; summarizes the research results and defines the logisticsenterprises, analyzes the characteristics of logistics enterprises, target and operational mode,and expounds the connotation of the operational efficiency of logistics enterpriseson the basisofthe connotation ofefficiency. The next, this paper dividesthe production process of logisticsenterprises into two stage of profitable and marketable by DEA method, andconstructs thelogistics operational efficiency of input-output index systemupon the two-stageDEA model.Third,this paper selects25logistics listed companies in China as the research sample, measuretheir operationalefficiency by DEA model, and sorts the25sample enterprises by the value oftechnical efficiency in two stages, analysis that the cause of technical inefficiency of sampleenterprisesand returns to scale though value of pure technical efficiency and scale efficiency,makes the analysis of "projection" in relative effective surface, and appliesDEA-Malmquistmodel analysis the change of DEA efficiency in longitudinal direction. Forth, this paperconstructs a tobit regression model upon the characteristics of DEA efficiency andmakes a regression analysis of the variables affect the operational efficiency of logisticsenterprisesthat asset structure, enterprise scale, staff quality, ownership structure andexecutive compensation, definesthe correlation and effection between these variables andoperationalefficiency. The last, this paper puts forward some measures and suggestionstoimproving the operational efficiency of logistics enterprises.China’s logistics listing corporations did not achieve effective technologygenerally,needed to be improved; attaches importance toprofitability and ignores the marketabilitybecause of marketable efficiency is lower than the profitable. Technical inefficiency is mainlycaused by pure technical inefficiency in the stage of profitable, and scaleinefficiency in thestage of marketable. Operationalefficiency is greatly affected by the economic environment.According to the different advantages of the two aspects of profitability and marketability,25sample enterprises are divided intofour groups of "star","cow","sleeper" and "dogs", thispaper puts forward some measures and suggestions for everygroups.