Analysis On The Efficiency Of China's Tourism Industry Based On Listed Companies

China's tourism industry rapidly developed since China joined WTO in 2001.In recent years,the liberalization of China's economic policy and the " one side of the road" policy to promote the tourism industry in China has brought great opportunities for the development of the tourism industry in China.The number of tourism companies in China is small and the service quality is not high,which is not consistent with the vigorous development.Therefore,it is very important to study the management efficiency of listed tourism companies.In this paper,DEA analysis is used to analyze the operating efficiency of 29 listed companies.The financial data of listed companies from 2010 to 2015 are used as input indicators and output indicators to analyze the volatility of the efficiency of 29 listed companies.Using the sample data for static and dynamic analysis,it is found that the technical efficiency of listed tourism companies is low due to the low efficiency of pure technology.Through DEA calculation results,the average technical efficiency of the 29 listed tourism companies is 0.745,and 25.5% of production input can be saved if the listed tourism companies adopt the optimal production technology.Operational efficiency is generally low and uneven.The growth trend of the listed hotel companies is increasing,the resource category declines,and the comprehensive tourism listed companies show a significant decline The Lack of utilization of existing technology.During the sample period,the average efficiency of tourism listed companies is low,the number of effective technology listed companies is small,and there is great improving spaces in the industry technology of Chinese tourism listed companies.There is a positive correlation between the efficiency of tourism listed companies and the increase in share price.By comparing the relationship between the stock price increase and the efficiency value of the listed companies,it is found that the higher the efficiency value the company is,the higher the stock price is.