Research On Input-Output Efficiency And Influencing Factors Of Logistics Listed Companies

In recent years,the state has paid more and more attention to the logistics industry,and the role of the logistics industry in China's social and economic development has become increasingly obvious and important.However,the efficiency level of China's logistics industry is still very low compared with that of western developed countries,and there are still some problems in listed logistics companies,resulting in low input-output efficiency,which restricts their sustainable development and the improvement of competition level.Improving the input-output efficiency of logistics listed companies plays an important role in realizing their sustainable development and improving their own competitiveness,and it has a huge impetus to the good development of China's economy.On the basis of systematically combing the relevant researches of scholars at home and abroad,this paper firstly uses the data envelopment analysis method to measure the input-output efficiency of logistics listed companies from 2009 to 2018,and finds that the input-output efficiency of logistics listed companies is low and the development of input-output efficiency of listed logistics companies is uneven.The input-output efficiency of listed logistics companies is on the rise in repeated shocks.The growth rate of input-output efficiency of listed logistics companies is fluctuating.The input-output efficiency of dif-ferent types of logistics listed companies is quite different.Then bases on the mixed panel data,establishes a mathematical model and uses Eviews8.0 to empirically analyze the specific impact of the board characteristics,human capital,corporate financing structure,business concentration,economic development on the input-output efficiency of listed logistics companies.The results show that there are positive correlations with the input-output efficiency of logistics listed companies:The proportion of female directors,the average length of education of employees,the proportion of employees who have received secondary education,commercial credit financing rate,equity financing rate,business concentration,GDP and per capita GDP;There are negative correlations with the input-output efficiency of logistics listed companies are:The size of the board of directors,the number of directors holding shares,the total remuneration of the top three directors,the combination of chairman and CEO,the proportion of employees who have received only primary education,the asset-liability ratio and the bank loan-financing ratio;The input-output efficiency of listed logistics companies is not related to the number of board meetings,the proportion of independent directors,the age of directors,the proportion of employees with higher education,the proportion of employees with professional skills and surplus financing.Finally,countermeasures and suggestions are put forward to improve the board structure and improve human capital in order to speed up the improvement of the input-output efficiency of listed logistics companies.