Study On The Technical Efficiency Of China's Grain And Oil Processing Listed Companies—Based On The Three-stage DEA Model

The enterprise pursues high efficiency and high profit in the process of production and management.Therefore,the efficiency problem has naturally become the focus of scholars in economic research.Technical efficiency is an economic indicator that reflects the allocation and use of various resource elements by enterprises and actual management operations.The grain and oil processing listed companies combine agricultural production with residents' dietary consumption.They play an important role in the entire agricultural industry chain,and have a profound impact on the national economy.Therefore,it is of great significance to study the efficiency of China's grain and oil processing listed companies.In recent years,while China's grain and oil processing industry has grown as a whole,China's grain and oil processing listed companies have also developed,but due to weak development foundations,a series of problems have emerged,such as poor financial performance,low efficiency,low intensity of research and general small scale.The employees structure of grain and oil processing listed companies is irrational,and employees' academic qualifications are generally not high.Many companies have diversified themselves from agriculture,and have devoted themselves to industries with low correlations such as finance,real estate,and medical care.In the fiercely competitive market environment,what's the level of grain and oil processing listed companies' technical efficiency? How to correctly evaluate its true technical efficiency by illuminating environmental variables? What factors will have an impact on the technical efficiency of the grain and oil processing listed companies?All these issues are urgently studied.By sorting out the relevant literature about technology efficiency evaluation methods and technical efficiency influencing factors,in the base of panel data of 35 grain and oil processing listed companies during the period from 2010 to 2016,using the three-stage DEA model to eliminate the interference of environmental variables,the technical efficiency of China's grain and oil processing listed companies is measured.Then,using the random effects model,the factors affecting the technical efficiency of the grain and oil processing listed companies were analyzed from the perspectives of human capital,concentration of ownership,and degree of diversification.As a result,it was found that the overall technical efficiency of China's grain and oil processing listed companies was not high.In the period from 2010 to2016,the technical efficiency was basically at 0.4.Most companies are in an inefficient state,and low technological efficiency is mainly due to lower scale efficiency.Through the random effects model,it can be seen that the human capital has played a role in promoting technical efficiency.Diversified operations are not conducive to improving company technical efficiency.In the end,the related suggestions for promoting the technical efficiency of grain and oil processing listed companies are proposed: cultivating unique competitive advantages with talent as the core,and integrating internal and external scarce resources.According to the development needs of enterprises,adjust the scale of operations and achieve economies of scale.Rationalize the expansion of business areas and carefully conduct cross-domain business.Finally,we should increase the efficiency of financial subsidies and let market mechanisms play its role.