An Empirical Study On The Utilization Efficiency Of The Assets In The National Equities Exchange And Quotations Listed Companies

The National Equities Exchange and Quotations is initiated and organized by Chinese Commission and the Ministry of science and technology,and approved by the State Council approved the establishment of the national science and technology park for private technology companies for the transfer of shares listed on the platform,neither agency share transfer pricing system of Limited by Share Ltd,mainly rely on the public transfer of national SME share transfer system to arrange the shares of other the company,to provide services for non listed company financing,mergers and acquisitions and other related businesses to provide information,market participants and technical training.In recent years,The National Equities Exchange and Quotations has a great development,the number of listed companies soared,but there is a listed company of varying quality,low efficiency of the use of assets.Under this background,this paper combined with domestic and foreign scholars research on the efficiency of the use of assets,related concepts first introduced The National Equities Exchange and Quotations listing enterprise asset utilization efficiency of a brief analysis,then collect industry information technology market of The National Equities Exchange and Quotations listed companies the main market and the information technology industry listed company's financial statements,the use of relevant data about the asset extraction efficiency,determine the evaluation of the efficiency of assets of the input and output index,the processed data analysis model in mathematical operation envelope,summed up the results,on the market The National Equities Exchange and Quotations listed companies assets use efficiency an empirical research on the efficiency of assets compared to The National Equities Exchange and Quotations and the main board market information technology industry.Through empirical research,this paper found that the new third market in China nearly 4 years of asset use efficiency is generally low,The National Equities Exchange and Quotations was significantly lower than the efficiency of assets in the main board market,of which the technical efficiency gap is relatively small,the cause of comprehensive efficiency gap mainly comes from scale efficiency;but in The National Equities Exchange and Quotations trading system and the laws and regulations,the market situation has improved,the comprehensive efficiency of a rising trend,The National Equities Exchange and Quotations and the main board market,the efficiency of assets continued to narrow the gap,this also reflects China's new third market towards the orderly management of the direction of development.Finally,based on analyzing the model operation results,summarizes the conclusions of this paper,and the conclusion of the problems existing in The National Equities Exchange and Quotations the government and listed companies themselves three aspects to improve The National Equities Exchange and Quotation listing enterprise policy recommendations the efficiency of the use of assets,formed a set of perfect transfer system,expand the financing channels of the listing and disclosure of government support;simultaneously,the tax preferential policies of listed companies to a certain amount,and guide enterprises toward the market good prospects for the development of the direction of development,improve the financial situation of listed companies disclosure mechanism,punishment to increase the intensity of the phenomenon of illegal enterprises;initiative to overcome difficulties,to optimize the asset structure,increase scientific and technological R&D investment,Improve the management level of enterprises,the formation of the scale effect of industry associations.The empirical study on the part of the data envelopment analysis model,the model is relatively effective evaluation using the mathematical programming model with multiple input and multiple output "sector" or "the unit".Because the evaluation system of the asset utilization efficiency of this paper is composed of three inputs and three output indicators,the comprehensive analysis of data envelope analysis model is the best empirical model.The innovation of this paper is mainly reflected in the research method,has formed a set of perfect asset use efficiency evaluation system within the system reasonably introduced the efficiency of assets evaluation index,and combined with the related data of the evaluation system,applied mathematics model of envelopment analysis on The National Equities Exchange and Quotations listed companies are the efficiency of assets an empirical study.The influence of control external factors in the empirical study,the comparison of The National Equities Exchange and Quotations and main board market assets using efficiency of an enterprise control in the information technology industry,after all,different industries because of their own reasons not comparable.The policy recommendations in this paper are all aspects of multiple angle analysis,which effectively avoid the one-sided of the policy.The inadequacy of this paper is an empirical study on the model of this paper,particularly high requirements for data,and The National Equities Exchange and Quotations in China's development time is not long,listed enterprise management mechanism is not perfect,the relevant indicators of data authenticity,reliability of financial statements is not high,which makes the empirical research conclusion there may be some the deviation.