Research On Production Efficiency Of Listed Enterprises In Wuhan Equity Trading Center

With the constant improvement of multi-level capital market in China,as a cornerstone of regional capital market equity market gradually in helping small and medium-sized enterprises(smes)play an increasingly important role in the process of the development,but the academic circles to the understanding of the enterprise production efficiency in regional equity markets is still inadequate,based on this,this paper takes wuhan equity trading center as an example,investigates the efficiency of enterprises of listed equity trading center in wuhan.Based on DEA model and financial data of listed companies from 2015 to 2017,the efficiency value of each listed company was calculated in this paper,including comprehensive technical efficiency,pure technical efficiency and scale efficiency.Then,from the perspective of time and industry,the paper investigates the influencing factors of enterprise production efficiency by using statistical analysis and multiple regression analysis.On this basis,from the perspective of the change of enterprise input and output indicators,this paper analyzes the reasons for the significant difference in the time dimension of enterprise productivity.This paper finds that there are rich differences in time and industry dimensions of enterprise productivity.From the perspective of time,the enterprise efficiency index shows the trend of rising first and then falling.Further research found that,compared with 2015,the scale of enterprise assets increased year by year.In contrast,the return on equity of enterprises decreased significantly in 2017.This shows that when the total assets of the enterprise increase,the return on equity of the enterprise decreases,which may be the reason for the dynamic change of the production efficiency of the enterprise.From the perspective of industry,the empirical results of this paper show that compared with manufacturing industry,the production efficiency of traditional service industry and emerging technology industry is relatively low.This is also intuitive.Traditional industries mainly rely on human capital to operate,which is relatively weak under the influence of technological innovation and scale efficiency.Emerging technology industries mainly rely on technological innovation to achieve development.The innovation process not only requires a large amount of human capital and financial capital,but also requires a long time to explore,so its production efficiency is relatively low.The results of this paper show that in order to enhance the ability of regional equity market to promote the development of real enterprises,the government needs to improve the production efficiency of listed enterprises.On the one hand,it creates a good environment for enterprise operation to promote the improvement of enterprise operation performance,so as to improve the matching degree between enterprise input and output.On the other hand,differentiated measures should be taken according to different industries in the formulation of policies,with the focus on traditional industries and emerging technology industries.