The Influence Of Heterogeneity Of Listed Companies In China's Foreign Trade Enterprises On Operating Efficiency

With the development and promotion of the “Belt and Road” initiative,listed companies in the domestic foreign trade industry are facing many opportunities and challenges.At the same time,the globalization of the economy and the market has brought more and more attention to the listed companies in the foreign trade industry.The improvement of the operating efficiency of foreign trade companies not only helps to improve the competitiveness of China's export products,but also affects the company's internal resource allocation efficiency,risk control and management.Level improvement and strategic planning all play a vital role,so it is necessary to study the operating efficiency of listed companies in China's foreign trade industry.This article attempts to give analysis and answers from the perspective of improving business efficiency.First,this article uses the DEA model to quantitatively analyze the operating efficiency of the company from the perspective of input and output,and then uses the heterogeneity of the company as a starting point to study the various factors that affect the operating efficiency of the company,including the scale,profitability,operating ability,and growth ability of the company,capital structure,equity structure,human capital,financial risk,and nature of the enterprise.Summarize and innovate in the study of the influencing factors of business operating efficiency,to distinguish it from previous corporate debt repayment capabilities,technical efficiency,social responsibility and other perspectives.Finally,give suggestions on how listed companies in China's foreign trade industry can improve operating efficiency.To a certain extent,it has enriched the theoretical research on the heterogeneity and operating efficiency of listed companies in the foreign trade industry,and provided new ideas that can be used for the reform of corporate operating efficiency.This article draws the following conclusions through research analysis: 86.75% of the companies in the domestic foreign trade industry's operating efficiency research results did not reach the optimal level of operating efficiency,only 13.25% of the companies were at the optimal level,and the average scale efficiency was higher than the average pure technical efficiency,indicating that there is still room for improvement in technological innovation.From the perspective of the nature of the enterprise,total assets,payable employees' salaries,property rights ratio,quick ratio,and asset-liability ratio have a significant impact on the operating efficiency of state-owned enterprises and have no significant impact on private enterprises;the growth rate of net profit,the number of employees,and the shareholding ratio of the top five shareholders have a significant impact on the operating efficiency of private enterprises,but have no significant impact on state-owned enterprises.Among them,basic earnings per share and total asset turnover have played a positive role in operating efficiency of state-owned and private enterprises.From the perspective of enterprise scale,total assets,net profit,total asset turnover rate,and number of employees have a significant impact on large enterprises,and have no significant impact on small and medium-sized enterprises,equity ratio,asset-liability ratio,and shareholding ratio of the top five shareholders have a significant impact on small enterprises,but have no significant impact on large and medium-sized enterprises,basic earnings per share has a significant impact on large and medium-sized enterprises,and net profit growth and total asset turnover have a significant impact on large and small enterprises,payable employees' salaries have a significant inhibiting effect on the operating efficiency of large,medium and small enterprises.