Research On Co-creation Efficiency Of University Enterprise Value Based On Multiple Stakeholders

The development of university enterprises is inseparable from the input and dedication of multiple stakeholders.However,from the perspective of the development practice of university enterprises,the current transformation results of innovation efficiency of university enterprises are not ideal and cannot drive the sustainable development of the industry.From the perspective of multiple stakeholders,studying the value co-creation efficiency of college enterprises is conducive to balancing the relationship between multiple stakeholders from the source,clarifying the mechanism of college enterprise value co-creation,and improving the value co-creation efficiency of college enterprises.Based on this,it is of great significance to explore the value co-creation efficiency of colleges and universities from the perspective of multiple stakeholders.The main contents of the research are as follows:First of all,combined with the literature at home and abroad,the paper focuses on multiple stakeholders,including operators,shareholders,partners,society,customers,creditors and employees,and establishes a two-stage chain DEA model to co-create the value of multiple stakeholders into the intermediate stage of resource integration and input to the final benefits of university enterprises,thus the value co-creation of university enterprises is divided into two subsystems.Secondly,combined with the characteristics of university enterprises,the input index,intermediate index and output index system of two-stage chain DEA are constructed by using expert scoring method and analytic hierarchy process(AHP).The input indicators of the first stage include the scale of personnel,the scale of assets and the cost of the main business;the indicators of the intermediate stage include total asset turnover,asset-liability ratio,wages paid to employees,earnings per share,turnover of accounts payable,total asset tax rate and environmental protection expenses;output indicators include net interest rate on sales and net interest rate on total assets.Thirdly,23 university listed companies are selected as the research object,and based on the annual report data from 2016 to 2019,it is found that the value co-creation efficiency of university enterprises is quite different and the distribution is uneven.In the case of multi-stakeholder value co-creation,the overall average value of university enterprises is0.4043,and the transformation efficiency is relatively low,reflecting the problems of resource allocation and use.Among them,the efficiency of the first stage is more than 0.90,the overall performance is good;the efficiency of the second stage is more than 0.4336,and the efficiency loss is more than 50%.Then,further analysis appears that the main factors affecting the value co-creation of multiple stakeholders are the low efficiency of internal operation and management,the weak concept of overall value co-creation,and the inconsistency between knowledge and technological innovation and the actual productivity of the enterprise.Finally,the idea of improving the value co-creation efficiency of colleges and universities is put forward,mainly to enhance the value co-creation awareness of college enterprise managers,improve the efficiency of enterprise management and the level of resource allocation,and carry out technology development in line with market demand.