A Research On The Efficiency Of Financial Company Of Enterprise Group

In China the enterprise group finance company is non-bank financial institutions to provide financial management services for corporate members,which aims at strengthing the centralized management and improving the efficiency of the group funds.With the development of economic globalization,the financial company that Chinese enterprise group sets up has gradually increased.Since 1987 which was established as the first financial company of our country,Dongfeng Motor has more than 220 financial companies now.At the same time the function of financial company has changed form the enterprise group financing to improving the efficiency of fund utilization and providing a variety of financial management services for non-bank financial institutions.Finance company has played a role which can not be ignored in state-owned enterprise reform,promoting the integration of industry and Finance and promoting the development of Chinese financial industry.The financial company aims at improving the efficiency of the group funds,but the effect of the efficiency of self financing has been less researched in recent years.Firstly,This paper concluds the researches about Chinese financial companies using DEA to judge the efficiency of the financial fund.Secondly,in consideration of the functional orientation and development status of Chinese financial companies,it takes Shenzhen Energy Finance Company Limited as an example,using DEA data envelopment analysis method and choosing the number of employees,liabilities and capital as input indicators,total profits and revenues as output indicators.And then it uses the CCR model to analysis the financial efficiency of 13 financial companies in Shenzhen Energy Finance Company Limited from 2009 to 2015,and separately measures the purely technical efficiency,scale efficiency and scale pay.Finally,it finds that the efficiency of capital utilization of Shenzhen Energy Finance Company Limited is in an invalid state,the main reasons of which are as follows:(1)The position of Shenzhen Energy Finance Company Limited is not clear;(2)Shenzhen Energy Finance Company Limited is small and its business type is single;(3)Shenzhen Energy Finance Company Limited lacks of relevant professionals and so on.On the basis of the above research,this paper bases on specific problems and puts forward some suggestions for improvement,such as:(1)Positioning of financial companies scientificly and giving full play to the role of financial companies;(2)Expanding the size and scope of the financial company;(3)Establishing and improving the system of personnel training in order to introducting the industry talents;(4)Improving the relevant regulatory system and the risk prevention system.