Study On Evaluation Of Operation Efficiency Of Nuclear Power Related Enterprises In China

National Development Plan of China Nuclear Power from 2011 to 2020 predict that the capacity of nuclear power in China will exceed 700 billion yuan by 2020,which will boost the related industries of China’s nuclear power by more than 3 trillion yuan.By 2030,China’s Nuclear Power Installed Capacity,which means nuclear power accounts for the total installed capacity of electricity,will reach 200 gigawatt,and in 2050 it will reach 400 gigawatt.This shows that the nuclear power related industries market may have broad development space and social benefits in the future.Therefore,an effective evaluation of the company’s operating efficiency provides a certain reference for enterprises to grasp market opportunities and rationally adjust corporate strategies.At present,there are few models to evaluate the efficiency of nuclear power related industries.Based on the research and analysis of domestic and international research on operational efficiency,combing of the evaluation model of operational efficiency and combining the characteristics of the listed companies this paper established FA-DEA evaluation model for the operating efficiency of listed companies,which lays the foundation for the empirical analysis of the following.The FA-DEA evaluation model provides an evaluation model for the evaluation of the operational efficiency of nuclear power related enterprises,and effectively evaluates the development efficiency of such enterprises,so as to propose targeted recommendations,which have certain reference value for the development planning of enterprises.This paper selects the annual financial data and some non-financial data of 56 listed companies from the enterprises in China’s nuclear power related industries from 2015 to 2017,and uses the FA-DEA Evaluation Model to conduct empirical analysis on listed companies in nuclear power related industries,and draws an important factor which have great impact on the operating efficiency of the industry.This paper also use DEA Data Envelopment Method to analyze the empirical results,and analyze from the the perspectives operational efficiency,reference set analysis and differential variable analysis.Using the methods above,this paper find out some problems existing in the enterprises,and seek a measure to improve their operational efficiency,and provide some reference for improving and upgrading the enterprises.The empirical results show that:(1)Using Factor Analysis to analysis results,the operating efficiency rankings of 56 listed companies in nuclear power related industries can be obtained,and top 10 companies are: JISCO Hongxing,China National Complete Plant Import & Export Corp.,Ltd.,Taiyuan Iron & Steel(GROUP)Co.,Ltd.,Jiangxi-Guandong Expressway Co.,Ltd.,Lantai Industry,Shanghai Mechanical & Electrical Industry Co.,Ltd.,Sansteel Minguang Co.Ltd.,Cisri-Gaona,China Zhenhua(Group)Science & Technology Co.,Ltd.,Jiuli High-tech Metal Science & Technology Co.,Ltd.,The top 10 companies in the DEA analysis results: JISCO Hongxing,Sanbian Sci-tech Co.,Ltd.,Shenzhen Nanshan Power Co.,Ltd.,China National Complete Plant Import & Export Corp.,Ltd.,Guangdong Orient Zirconic Ind Sci & Tech Co.,Ltd.,Jiangxi-Guangdong Expressway Co.,Ltd.,Shanghai Mechanical & Electrical Industry Co.,Ltd.,,Cisri-Gaona Co.,Ltd.,Anhui Province Energy Group Company Limited,Jilin Province Qiulin Group.(2)According to the results of DEA analysis,it can be seen that there are two effective technical efficiency in the nuclear power-related industries,two in pure technology-effective companies,and two in effective scale.Most companies are in the process of increasing returns to scale,and there is still room for improvement.(3)The average technical efficiency of listed companies in selected nuclear power related industries is 0.79,indicating that some listed companies still have more room to improve.In the analysis of the difference variables,it was found that the 52 companies’ solvency indicators were redundant,23 companies had redundancy in their operational capabilities,and 25 companies had redundancy in corporate governance.Therefore,listed companies in nuclear power related industries should appropriately expand their scale,but they should reduce their investment in solvency and appropriately control their investment in operational capability and corporate governance capabilities to achieve a better business operation efficiency.