Study On Listed Companies’ R&D Performance Of Automotive Industry Based On DEA

Research and development activity (R&D) of enterprise is a core part of technology innovation and the power of competitive advantage and sustainable development. The role of R&D activity in business development is essential, but it also is a high-risk and high-yield investment. In recent years, the government and the enterprises are all increased investment in R&D activities, The R&D performance in enterprises has become the concerned focus for the government, enterprises and academics, cause of the high-risk and low-success characteristics of R&D activity. The evaluation of the R&D performance in enterprises is the key to the implementation of R&D activities in the latter part of the work. Evaluating the R&D performance in enterprises scientifically has an important effect for reducing the risk of R&D investment activities and promoting economic efficiency of enterprises. Automotive industry has significant strategic importance for the development of Chinese manufacturing industry, and the business development of automotive industry is the one of the hotspots to scholars in recent years. This thesis through the R&D performance evaluation and the influence factors analysis of the listed companies in Chinese automobile industry design to comprehensively and objectively reveal its performance level, in order to understand the actual management from the industry level and help the managers of automotive listed companies to improve the R&D performance management.According to the overall development situation of Chinese listed companies in the automotive industry, this thesis analyzes the characteristics of listed companies in auto industry, and builds performance evaluation indicator system of listed companies in automotive industry. After summarizing performance evaluation and data envelopment analysis (DEA) theory, I select the DEA to evaluate the performance. With the DEA results, I choose Tobit model to build a two-step analysis on the influence factors.This thesis at first select Chinese Shanghai and Shenzhen stock exchange listed companies in the automotive industry as study sample, then select 2007 to 2013 as the study period which is the time after the new accounting guidelines promulgated, and collect each data. This thesis use classic CCR, BCC model and super-efficient DEA model to calculate and analyze their R&D performance of the overall efficiency, pure technical efficiency, scale efficiency and super-efficiency analysis in these seven years from the static angle. Then this thesis take time factor into account, and calculate and analyze the change of R&D performance of the auto industry listed companies with Malmquist index in dynamic angle and analyze the trend in the automotive industry listed companies among the seven years, and find out that invalid scale efficiency results invalid overall efficiency of Chinese auto industry listed companies, and verify the impact of policies on the R&D of auto industry listed companies. At last, I use Tobit model to analyze the influence factors of the listed companies in Chinese automobile industry, and made some recommendations for managers.